StockX

Prepare Your Company for Industry Leadership with This High-Level Strategy

Challenge

Having completed a carbon inventory and materiality assessment with TripleWin, StockX was ready to take the next step: integrating the company’s environmental “E”, social “S” and governance “G” priorities into a strategic sustainability roadmap for itself.

The carbon inventory revealed their total carbon emissions and the most carbon-intensive activities across their value chain. The materiality assessment provided insights on the topics that mattered most to their stakeholders, ranked by level of priority to both the business and stakeholders.

StockX now needed to bring this information together into a single, cohesive, high-level strategy and action plan for their entire enterprise. Without such a strategy, StockX would likely struggle with the following:

  • Aligning sustainability efforts with the company’s growth objectives
  • Knowing which sustainability initiatives and investments to prioritize
  • Coordinating sustainability efforts across initiatives and functions
  • Communicating initiatives to stakeholders in a consistent, compelling way that builds rather than erodes trust
  • Adopting a clear business purpose that employees want to champion

Pursuing sustainability without a comprehensive and integrated approach can be confusing, inefficient and even counterproductive, for managers and employees alike. What’s more, it can expose a company to increased external risks.

Solutions Delivered

A sustainability roadmap solves these challenges by integrating data on a company’s ESG risks and opportunities into a single, cohesive, high-level action plan for the entire enterprise. Creating a sustainability roadmap is a strategic endeavor that aggregates, prioritizes, and refines a company’s sustainability initiatives and targets, while aligning such initiatives with the company’s financial strategy.

Based on the carbon inventory, materiality assessment, and input from company leaders, TripleWin delivered a 40-page sustainability roadmap for StockX with the following features:

  • Executive summary and global context: Highlights StockX’s leadership commitment to sustainability and its importance to the company’s business model and culture. Contextualizes StockX within relevant global risks and opportunities.
  • Value creation frameworks: Explains the business case for creating differentiated and long-term value through sustainability. Lists strategic partners and standards for measuring and communicating performance.
  • Action focus areas: Details recommended sustainability goals and initiatives for StockX, organized into four focus areas: Planet, People, Community, Innovation. Each focus area presents a quantitative snapshot of current performance, combined a detailed description of initiatives for each SMART goal (time-bound to years 2025, 2030, and 2050). Visual of StockX’s goals paired to the SDGs they support.
  • Short-term outlook: A high-level five-year timeline for achieving StockX’s declared 2025 goals in each focus area.
  • Governance, reporting and accountability: Recommends a corporate governance structure for guiding StockX toward more sustainable operations, along with an accountability framework for measuring and reporting progress across all regions worldwide.
  • Appendix of data and KPIs: A detailed reference to supportive background data, assets, and information on key industry trends, developed from primary and secondary research.

 

TripleWin designed the roadmap to also serve as a guide for managers and employees when communicating the StockX vision, strategy and initiatives to stakeholders. A sustainability communications playbook outlines the mindset, policies and best practices for talking about sustainability in ways that foster understanding and trust and enhance impact. It emphasizes the importance of honesty, transparency, and accuracy: “Announce your achievements…but not at the expense of avoiding the challenges and roadblocks along the way.”

The sustainability roadmap thus provides StockX with a tool for showing their diverse stakeholders that they take sustainability seriously and are setting ambitious yet realistic goals in support of their “current culture” communities and the environment.

Client Outcomes

StockX showed a genuine commitment to sustainability. The company had formed local and regional “green teams” and put a leadership and accountability structure in place to guide sustainability initiatives, communications, and best practices across their organization. They had invested resources into measuring its carbon footprint and gathered feedback from stakeholders to inform those efforts. And they had foundationally taken steps at the highest organizational levels to commit to sustainability for the long-term by appointing a chief impact officer to oversee all ESG efforts as well as to change the Board Governance charter to include oversight of the company’s global sustainability initiatives.

Experts

TripleWin Advisory is a boutique corporate consultancy focused on circularity solutions for industry. TripleWin offers a suite of tools to support clients in charting a practical, circular and sustainable course for their business. These tools include:

  • Carbon inventories and setting science-based and Net Zero carbon goals
  • Materiality assessments and sustainability roadmaps
  • Building circular business models supported by financial analysis
  • Risk scenario models using the TCFD framework
  • Workshops and courses to build employee agency and corporate competency

We work with leaders in the following industries: apparel, footwear & textiles; information technology; metals; beauty; food & beverage; healthcare; building construction; human resource management; and retail.

TripleWin Advisory is a woman-founded and woman-led public benefit company headquartered in the state of Oregon.

StockX is a Detroit, Michigan-based 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