Climate change is not just an issue for politicians. Everyone is impacted by frequent, extreme weather coupled with a scarcity in natural resources. Businesses across industries rely on their products and consumer base being around for generations to come, and that may not be true if climate change continues unmitigated. Companies need to view investment in sustainability initiatives as investments in their business’s future. Online shopping retailer eBay is one of the major companies to have reached this epiphany.
Many well-known hedge fund managers are also philanthropists, and many of them have their own foundations. Seth Klarman of Baupost is one of those with his own foundation, and he invested in a handful of hedge funds through his foundation. This list of Klarman's favorite hedge funds is based on the Klarman Family Foundation's 990 Read More
eBay Alligns Itself With Selected Objectives From The UN SDGs
In pursuit of a more sustainable way of conducting commerce, eBay has brought its company values in line with selected objectives from the United Nations Sustainable Development Goals (SDGs). Perhaps the easiest goal for eBay to respond to is SDG #12, which promotes responsible consumption and production. Since inception, eBay has been a place where products can continuously find renewed life and value. eBay’s platform helps extend the life of products and limits the waste going to landfills. In 2020, the sales of pre-owned electronics and apparel on eBay conserved 720,000 metric tons of carbon emissions.
Another UN goal that eBay has incorporated into their own business model is SDG #7, which encourages the spread of affordable and clean energy. eBay has the ambitious goal of powering their operations with 100% renewable energy sources by 2025. They partner with other businesses and organizations to enable renewable energy purchases, thereby accelerating the transition to a clean energy economy. One recent example of eBay acting on this commitment is their partnership with McDonalds. The two corporate powerhouses have announced agreements with Lightsource bp to purchase power from what will soon be Louisiana’s largest solar project. Thanks to deals such as these, eBay is well on their way to meeting their 2025 goal. In 2020, eBay’s data centers and offices operated on 74% renewable energy.
Other SDGs that eBay has used to guide their missions don’t relate directly to climate change. Despite that, they still encourage company commitment to bring positive change into the world while growing eBay’s business. In support of SDG #8 (decent work and economic growth), eBay helps small businesses get started with programs like Up & Running and Seller School. eBay benefits enormously from the presence of small businesses on their platform; the more businesses that choose to sell on eBay, the more traffic eBay receives. These endeavors prove companies can care about the world and their bottom line simultaneously.
Infographic source: eBay