Digital magazine and newspaper app Readly says it achieved seventy per cent of its sustainability goals in the past year.
The company’s latest sustainability report highlights its environmental, social and governance performance (ESG) during the past year and includes 24 per cent lower travel emission intensity per employee and an eight per cent increase of emissions saved from digital reading on Readly in comparison to the previous year. Overall, 70 per cent of Readly’s sustainability goals were fulfilled in 2022.
“The majority of our subscribers believe it is important that their reading habits are as environmentally friendly as possible and the calculations we have made together with environmental researchers confirm that digital reading is a climate friendly way of consuming magazines and newspapers,” said Mats Brandt, CEO of Readly.
Out of the ten targets that Readly set up for its ESG priorities during 2022, seven were achieved, including a decrease in business travel emission intensity per employee, initiated measurement of the share of renewable energy sources (46 per cent) and delivering four editorial campaigns that were focused on topics related to sustainability.
“One target we did not hit was reaching a 20 per cent increase in saved emissions from digital reading on Readly,” Brandt added. “We hope to achieve double digits in 2023 as we continue our path towards profitable subscriber growth. The more people that use our service the stronger positive impact we have on the planet and in society.”
Key findings of the report include: The total digital reading on Readly during 2022 resulted in a reduction of CO2 emissions corresponding to approximately 16,600 tonnes of CO2e.
The energy intensity per FTE was six per cent lower in 2022 compared to 2021. The main reason was a higher share of renewable energy and a continued high share of employees working remote.
In markets where Readly controls the choice of electricity provider, the energy consumption consists of 83 per cent fossil free and 46 percent renewable electricity.
For the second year in a row, Readly is presented on the Green List in The Allbright Report 2022 that monitors gender diversity in the management teams of listed companies in Sweden. Readly has a 43/57 percent ratio of women and men on the Senior Leadership team and among managers the split is 50/50 percent. The Readly Sustainability Report is available here.