Stock X

Revealing the Footprint Under the Shoes

The Project

StockX came to TripleWin for support in conducting their first full carbon inventory, consisting of Scope 1, 2, and 3 greenhouse gas emissions. StockX recognized the immediate value of baselining emissions:

  • Identify opportunities to reduce transportation emissions and waste within their
    authentication facilities,
  • Address the sustainability concerns of their Millennial and Gen-Z employees, and
  • Develop strategic ESG messaging to markets and within their SEC filings for going public.

The Approach

TripleWin conducted a comprehensive carbon inventory for StockX, including Scope 3, the hairiest and hardest scope to calculate. After collecting primary data and developing a custom calculation methodology, TripleWin calculated the six most relevant Scope 3 categories: Purchased Goods and Services, upstream and downstream Transportation and Distribution, Operational Waste, global Business Travel, and Employee Commuting.

Learnings

Scope 3 GHG emissions for product manufacturers can account for between 80-90% of corporate emissions. BDK had an understanding that employee commuting and business travel were high emission “categories” for the company. TripleWin gave guidance that often these are red herrings: categories that have high awareness in the public consciousness that fossil fuel combustion by automobile, truck and plane significantly contribute to climate change, but from a total value chain perspective, are important yet small contributors to a company’s MT CO2e totals.

Client Outcomes

The quantitative insights that came out of StockX’s carbon inventory allowed the company to develop specific and actionable initiatives to pursue almost immediately. StockX decided to focus on two main areas of their footprint: transportation and distribution (T&D) and authentication center (AC) operations.

To effect immediate reductions in T&D emissions, StockX implemented two key policies for the buyers and sellers on its platform: preferred AC product drop-offs to reduce double shipping of products from the highest-volume sellers, and dynamic matching of sellers and buyers within the same region to decrease transportation distances.

For AC operations, StockX switched from plastic to bio-based, biodegradable packaging filler, started reusing product boxes when requested by buyers, and single-streamed packaging waste to divert more trash from landfills.

StockX is a marketplace for the rarest and most coveted branded consumer products — from Nike Air Jordan sneakers and Rolex watches to Star Wars collectibles. The company matches sellers and buyers anonymously and authenticates all platform purchases at authentication centers strategically placed across the globe.

Headquarters:
Detroit, Michigan
Industry:
Consumer Goods
Main Product:
Reselling branded consumer products


In their words

“TripleWin’s team of carbon accountants are experts at what they do and Renee Shade [Managing Director of Carbon Inventories] is a rockstar with data visualization.”

Special Projects Manager, Office of the CFO, Stock X