Vestiaire Collective
Discover how Vestiaire Collective used Climate Dividends to value pre-existing avoided emissions assessment to leverage their full communication potential.
Vestiaire Collective
Vestiaire Collective is a global platform for pre-owned luxury fashion, contributing to transforming the fashion industry by bringing together sellers and buyers of pre-loved items through a second-hand platform. They offer an alternative to buying new, therefore extending the life of existing fashion items. Through its circular business model, Vestiaire Collective contributes to avoiding GHG emissions compared to first-hand purchases.
Motivations to join
Dounia :
We’ve always considered that our activities positively contribute to global decarbonization by replacing first-hand purchasing with second-hand, therefore avoiding the impacts related to the production of new items. However, there's a significant difference between “knowing” we have an impact and being able to “prove” it with robust data.
We’ve been working since 2020 on our avoided impacts, building an internal methodology to measure our avoided emissions and other positive impacts. While our methodology had already been acknowledged by experts and auditors in the context of the DPEF, there was still a lack of standardization of avoided emissions methodologies and we wanted to go further.
Participating in the Climate Dividends initiative was a way to ensure that our methodology fitted into their independent, transparent framework, therefore this enabling us to communicate our impact with greater confidence, internally and externally.
Methodology used
Dounia:
Our methodology assesses avoided emissions by comparing the emissions induced by purchases on Vestiaire Collective to those from a baseline scenario where the items would have been purchased first-hand.
A key step of the methodology is that we also factor in a "substitution rate", equal to the proportion of purchases on Vestiaire Collective that effectively replace a new item purchase. This rate, determined through consumer surveys, was 79% in 2023.
The project was relatively straightforward for us, as we had already been measuring our avoided emissions for several years, with a well-defined methodology.
Most of the time invested went toward three main areas:
1. onboarding internal stakeholders and validating our participation
2. filling-in the standardized claim documentation - the Solution Detailed Declaration (SDD)
3. preparing our external communications
In our case, as our avoided emissions were already audited as part of our Declaration of Non-Financial Performance (DNFP), we negotiated with our auditors that there would be no additional costs.
Benefits of using Climate Dividends
Don’t be "reduced" to your sole carbon footprint anymore. Prove your climate contribution through a standardized Protocol and a transparent and audited process.
Our experienced team supports you through the removed or avoided emissions assessment and we provide dedicated resources and tools - sectoral methodologies, use cases, Excel templates…
Communicate and report your positive contribution to global decarbonisation to external and internal stakeholders without the risk of being accused of greenwashing. Strengthen your brand image with a strong communication asset.
Use Climate Dividends as solid proof of your climate performance to attract impact investors more easily (easier environmental due diligence) and to lower your cost of capital (green bonds, lower banking fees).
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Companies and investors from all over the world already use Climate Dividends to measure and value their contribution to global decarbonisation. Don’t wait to join them in the initiative!