04/06/2021
OLX Group becomes operationally carbon neutral
OLX Group today announced it has become a carbon neutral company in its operations, marking a significant first step in reducing its climate impact.
Collaborating with its parent company Prosus, and leading climate solutions provider South Pole, OLX Group has invested in two carbon emission reduction projects. These enable local communities to transition to a lower carbon economy, thereby compensating for OLX Group’s own direct emissions within the company.
These emissions are based on company consumption of electricity, diesel, petrol, and natural gas, called scope 1 and scope 2. They have been calculated using company data gathered and analysed with the support of Prosus and EY.
The investment is part of a process known as offsetting, which involves the purchase of ‘carbon credits’ from South Pole. By purchasing carbon credits from a project, important funding is funneled to a project that is already today reducing greenhouse gas (GHG) emissions.
The selected projects are certified by the independent certification standards of Verified Carbon Standard (VCS) from Verra, and the Clean Development Mechanism (CDM) established by the United Nations. In addition to lowering emissions, the projects drive social, economic, and environmental progress for the communities where they operate.
OLX Group’s selected projects are:
Musi River hydropower, Indonesia
This project creates renewable hydropower for the island of Sumatra. This has generated:
- 765,677 MWh of clean energy, on average per year
- 50 local jobs
- New sources of income: free training for locals on composting and making organic fertiliser from invasive aquatic plants
- Funding for infrastructure projects, including repairing two drawbridges and new roads
- Reforestation of 20 hectares of land
- In total, the equivalent of approximately 570,000 tons of CO2 is mitigated on average per year
Energy efficient brake technology for the Delhi Metro Rail Corporation, India
This has increased energy efficiency by replacing old brakes with new, less GHG-intensive technology. This has generated:
- 8,000 jobs
- In total, the equivalent of approximately 47,000 tons of CO2 is mitigated on average per year
- In addition, the new Delhi Metro Museum has been set up by the project owner
Taking responsibility for operational emissions, and offsetting them, is OLX Group’s first step within a larger sustainability strategy to proactively reduce its carbon footprint, in partnership with Prosus. This will include:
- Setting greenhouse gas emissions reduction targets for OLX Group’s direct operations (Scope 1 & 2 emissions) over time with three steps:
- Reduce consumption through more efficient use of resources
- Increase procurement of renewable energy for the energy consumed
- Offset unavoidable emissions
- Measuring and offsetting its 3rd party footprint (Scope 3 emissions) including data centers, employee travel, and other indirect material greenhouse gasses that the company and employees contribute to.
- Activating employees to engage in the company’s sustainability journey.
- Inspiring customers to further embrace the benefits of a second-hand lifestyle, and continuing to offer alternatives to purchasing new.
For more information about South Pole, click here.
To find out more about Sustainability at Prosus, click here.
