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SINGAPORE –\nMedia OutReach Newswire<\/a> – 14 December 2023 – Carousell Group, the leading multi-category platform for secondhand in Greater Southeast Asia, released its inaugural\nCircular Economy Impact Report <\/b>on 8 December 2023, showing that buying and selling secondhand items is a better choice for the planet compared to traditional retail of buying new items. The report, a first-of-its kind for e-commerce and recommerce marketplaces in Southeast Asia, quantifies the Avoided Carbon Emissions due to users purchasing secondhand items on three of the Groups\u2019 marketplaces, in place of a new item.<\/p>\n<\/noscript><\/figure>\nMr Tharman Shanmugaratnam, President of the Republic of Singapore, graced the launch event for Carousell Group\u2019s Circular Economy Impact Report at Carousell Campus. (from left to right: Mr Gaurav Bhasin, Chief Strategy Officer, Carousell Group; Marcus Tan, Co-founder, Carousell Group; Mr Tharman Shanmugaratnam, President of the Republic of Singapore; Quek Siu Rui, Co-founder and CEO, Carousell Group; Lucas Ngoo, Co-founder, Carousell Group)<\/i><\/p>\nThe launch event was graced by Mr Tharman Shanmugaratnam, President of the Republic of Singapore, on 8 December at Carousell Campus, the Group\u2019s regional headquarters. The launch event also invited various industry partners and investors where Carousell Group\u2019s Chief Strategy Officer Mr Gaurav Bhasin gave a keynote presentation on key report findings.<\/p>\nKey findings of the Circular Economy Impact include:<\/p>\n\nCarousell Group\u2019s user community avoided\n116,577 tonnes of carbon emissions<\/b> in four goods categories (Fashion & Luxury, Electronics, Furniture & Home Living and Hobbies & Toys) in 2022<\/p>\n\nEquivalent of around 76% of total trees in Singapore absorbing CO2<\/sub> per year<\/li>\n<\/ul>\n<\/li>\nAlmost\n56% <\/b>of purchases on the Carousell marketplace\ndisplaced the purchase of a new item<\/b><\/li>\nOn average across Carousell marketplace\u2019s six key markets,\n55% <\/b>of surveyed users\nreported an increase in buying and selling of secondhand items<\/b> in 2022 as compared to 2021<\/li>\n<\/ul>\nMr Gaurav Bhasin, Chief Strategy Officer, Carousell Group said, \u201cBy facilitating secondhand transactions, Carousell Group holds a central role in advancing the circular economy alongside our users in the Greater Southeast Asia region. As a key enabler of the circular economy in our region, we have a responsibility to lead by example and measure the potential positive impact of choosing secondhand products over new ones in a trustworthy and transparent way. In addition to the Avoided Emissions calculations, we have also taken the opportunity to calculate our Group\u2019s Carbon Footprint. The robustness of our chosen methodology underscores our strong commitment to sustainability, and it forms the bedrock of our sustainability endeavours.\u201d<\/p>\nTo quantify our impact, Carousell partnered with Vaayu, a European climate tech company leveraging proprietary AI and machine learning technology and utilising its Life Cycle Assessment (LCA) database of over 600,000 product data points. As the initial phase of Carousell Group\u2019s quantification journey, the scope of the report covers only the four goods categories of Carousell, Laku6 and REFASH. The Group is committed to progressively incorporating all remaining categories and integrating other Group brands Mudah.my, Ch\u1ee3 T\u1ed1t and OneShift within the scope in the coming years.<\/p>\nMs Namrata Sandhu, Co-founder and CEO, Vaayu said, \u201cRetail is responsible for 25% of global carbon emissions and with research continuing to show we\u2019re not on track to keep global warming below 1.5C, we\u2019re at a critical inflection point. Circular business models, like recommerce, offer a clear path to reducing retail\u2019s impact on our planet, which is why we are so proud to partner with Carousell Group to quantify its climate impact and empower communications with its users.\u201d<\/p>\nBesides the quantification of Avoided Emissions, the report also underscores the significance of every individual transaction in contributing to the overall circular economy impact. For instance, buying a secondhand sofa on Carousell can, on average, save up to 131 kg of Co2<\/sub>e, the equivalent of almost six trees absorbing Co2 <\/sub>per year.<\/p>\nAs part of Carousell Group\u2019s goal to accelerate the future of secondhand through recommerce, the Group\u2019s marketplaces have been\nrolling out a variety of recommerce programmes and features<\/a> across multiple platforms and markets this year. Mr Quek Siu Rui, Co-founder and Chief Executive Officer, Carousell Group said, \u201cOur mission is to make secondhand the first choice for everyone. We have stayed true to this mission over the past 11 years, and we remain committed to making selling and buying secondhand even simpler, more trusted and convenient. With the release of the report, we hope more people realise how easy it is to embrace secondhand as a lifestyle and contribute to a greener world, without compromising on the things they enjoy.\u201d<\/p>\nVisit\nhttps:\/\/press.carousell.com\/impactreport\/<\/a> to download the full report.<\/p>\n<\/noscript>https:\/\/www.carousell.com<\/a>\n<\/noscript>https:\/\/www.linkedin.com\/company\/2892254\/<\/a>\n<\/noscript>https:\/\/www.facebook.com\/carousell.sg\/<\/a>\n<\/noscript>https:\/\/www.instagram.com\/carousell.sg\/<\/a><\/p>\nHashtag: <\/b>#Carousell #start-up #recommerce #secondhand #circulareconomy<\/p>\nThe issuer is solely responsible for the content of this announcement.<\/em><\/p>\n<\/p>\n<\/div>\n
Mr Tharman Shanmugaratnam, President of the Republic of Singapore, graced the launch event for Carousell Group\u2019s Circular Economy Impact Report at Carousell Campus. (from left to right: Mr Gaurav Bhasin, Chief Strategy Officer, Carousell Group; Marcus Tan, Co-founder, Carousell Group; Mr Tharman Shanmugaratnam, President of the Republic of Singapore; Quek Siu Rui, Co-founder and CEO, Carousell Group; Lucas Ngoo, Co-founder, Carousell Group)<\/i><\/p>\n
The launch event was graced by Mr Tharman Shanmugaratnam, President of the Republic of Singapore, on 8 December at Carousell Campus, the Group\u2019s regional headquarters. The launch event also invited various industry partners and investors where Carousell Group\u2019s Chief Strategy Officer Mr Gaurav Bhasin gave a keynote presentation on key report findings.<\/p>\n
Key findings of the Circular Economy Impact include:<\/p>\n
Mr Gaurav Bhasin, Chief Strategy Officer, Carousell Group said, \u201cBy facilitating secondhand transactions, Carousell Group holds a central role in advancing the circular economy alongside our users in the Greater Southeast Asia region. As a key enabler of the circular economy in our region, we have a responsibility to lead by example and measure the potential positive impact of choosing secondhand products over new ones in a trustworthy and transparent way. In addition to the Avoided Emissions calculations, we have also taken the opportunity to calculate our Group\u2019s Carbon Footprint. The robustness of our chosen methodology underscores our strong commitment to sustainability, and it forms the bedrock of our sustainability endeavours.\u201d<\/p>\n
To quantify our impact, Carousell partnered with Vaayu, a European climate tech company leveraging proprietary AI and machine learning technology and utilising its Life Cycle Assessment (LCA) database of over 600,000 product data points. As the initial phase of Carousell Group\u2019s quantification journey, the scope of the report covers only the four goods categories of Carousell, Laku6 and REFASH. The Group is committed to progressively incorporating all remaining categories and integrating other Group brands Mudah.my, Ch\u1ee3 T\u1ed1t and OneShift within the scope in the coming years.<\/p>\n
Ms Namrata Sandhu, Co-founder and CEO, Vaayu said, \u201cRetail is responsible for 25% of global carbon emissions and with research continuing to show we\u2019re not on track to keep global warming below 1.5C, we\u2019re at a critical inflection point. Circular business models, like recommerce, offer a clear path to reducing retail\u2019s impact on our planet, which is why we are so proud to partner with Carousell Group to quantify its climate impact and empower communications with its users.\u201d<\/p>\n
Besides the quantification of Avoided Emissions, the report also underscores the significance of every individual transaction in contributing to the overall circular economy impact. For instance, buying a secondhand sofa on Carousell can, on average, save up to 131 kg of Co2<\/sub>e, the equivalent of almost six trees absorbing Co2 <\/sub>per year.<\/p>\nAs part of Carousell Group\u2019s goal to accelerate the future of secondhand through recommerce, the Group\u2019s marketplaces have been\nrolling out a variety of recommerce programmes and features<\/a> across multiple platforms and markets this year. Mr Quek Siu Rui, Co-founder and Chief Executive Officer, Carousell Group said, \u201cOur mission is to make secondhand the first choice for everyone. We have stayed true to this mission over the past 11 years, and we remain committed to making selling and buying secondhand even simpler, more trusted and convenient. With the release of the report, we hope more people realise how easy it is to embrace secondhand as a lifestyle and contribute to a greener world, without compromising on the things they enjoy.\u201d<\/p>\nVisit\nhttps:\/\/press.carousell.com\/impactreport\/<\/a> to download the full report.<\/p>\n<\/noscript>https:\/\/www.carousell.com<\/a>\n<\/noscript>https:\/\/www.linkedin.com\/company\/2892254\/<\/a>\n<\/noscript>https:\/\/www.facebook.com\/carousell.sg\/<\/a>\n<\/noscript>https:\/\/www.instagram.com\/carousell.sg\/<\/a><\/p>\nHashtag: <\/b>#Carousell #start-up #recommerce #secondhand #circulareconomy<\/p>\nThe issuer is solely responsible for the content of this announcement.<\/em><\/p>\n<\/p>\n<\/div>\n
As part of Carousell Group\u2019s goal to accelerate the future of secondhand through recommerce, the Group\u2019s marketplaces have been\nrolling out a variety of recommerce programmes and features<\/a> across multiple platforms and markets this year. Mr Quek Siu Rui, Co-founder and Chief Executive Officer, Carousell Group said, \u201cOur mission is to make secondhand the first choice for everyone. We have stayed true to this mission over the past 11 years, and we remain committed to making selling and buying secondhand even simpler, more trusted and convenient. With the release of the report, we hope more people realise how easy it is to embrace secondhand as a lifestyle and contribute to a greener world, without compromising on the things they enjoy.\u201d<\/p>\nVisit\nhttps:\/\/press.carousell.com\/impactreport\/<\/a> to download the full report.<\/p>\n<\/noscript>https:\/\/www.carousell.com<\/a>\n<\/noscript>https:\/\/www.linkedin.com\/company\/2892254\/<\/a>\n<\/noscript>https:\/\/www.facebook.com\/carousell.sg\/<\/a>\n<\/noscript>https:\/\/www.instagram.com\/carousell.sg\/<\/a><\/p>\nHashtag: <\/b>#Carousell #start-up #recommerce #secondhand #circulareconomy<\/p>\nThe issuer is solely responsible for the content of this announcement.<\/em><\/p>\n<\/p>\n<\/div>\n
Visit\nhttps:\/\/press.carousell.com\/impactreport\/<\/a> to download the full report.<\/p>\n<\/noscript>https:\/\/www.carousell.com<\/a>\n<\/noscript>https:\/\/www.linkedin.com\/company\/2892254\/<\/a>\n<\/noscript>https:\/\/www.facebook.com\/carousell.sg\/<\/a>\n<\/noscript>https:\/\/www.instagram.com\/carousell.sg\/<\/a><\/p>\nHashtag: <\/b>#Carousell #start-up #recommerce #secondhand #circulareconomy<\/p>\nThe issuer is solely responsible for the content of this announcement.<\/em><\/p>\n<\/p>\n<\/div>\n
<\/noscript>https:\/\/www.carousell.com<\/a>\n<\/noscript>https:\/\/www.linkedin.com\/company\/2892254\/<\/a>\n<\/noscript>https:\/\/www.facebook.com\/carousell.sg\/<\/a>\n<\/noscript>https:\/\/www.instagram.com\/carousell.sg\/<\/a><\/p>\nHashtag: <\/b>#Carousell #start-up #recommerce #secondhand #circulareconomy<\/p>\nThe issuer is solely responsible for the content of this announcement.<\/em><\/p>\n<\/p>\n<\/div>\n
Hashtag: <\/b>#Carousell #start-up #recommerce #secondhand #circulareconomy<\/p>\n
The issuer is solely responsible for the content of this announcement.<\/em><\/p>\n<\/p>\n<\/div>\n
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