The Valuence Group (Valuence Holdings, Inc., Tokyo; Shinsuke Sakimoto, representative director and president) pursues the purpose of Circular Design for the Earth and Us, and encourages more people to focus on what is most important in their lives. The Group has calculated its environmental footprint and avoided emissions associated with luxury merchandise purchased and sold by the group during fiscal 2023. The results of the calculations were published on the group’s corporate website on January 12, 2024 (https://www.valuence.inc/en/sustainability/).
The Avoided CO2 Emissions for Fiscal 2023 Equivalent to the Annual Absorption of 300 Million Cedar Trees
The Valuence Group is the fastest in the industry within Japan (*1)to disclose its Resale Impact (*2), the group environmental footprint and avoided emissions, with disclosures dating back to May 2021. Through disclosures, the group strives to raise awareness on how the careful use of products can reduce excessive consumption and contribute to avoiding negative impacts on the Earth.
The company has recently calculated the Resale Impact (*3) of products sold in fiscal 2023 (September 2022 to August 2023). Calculations show that the group avoided the following environmental footprints through the group reuse business: 4.82 million tons in CO2 emissions, 243.47 million m3 in water consumption, 19.91 million m3 GJ in energy consumption, and 2.05 million tons of PM2.5 emissions.4.82 million tons of reduced CO2 emissions is equivalent to the amount of CO2 absorbed by approximately 300 million cedars annually (*4).
The Valuence Group believes that visualizing the environmental footprint and avoided emissions of reuse as Resale Impact will encourage consumers to choose to reuse, while also understanding their positive impact on the environment. As society shifts from an era of focus on material abundance to an era of focus on spiritual abundance and connectedness, the Valuence Group will continue to create opportunities that encourage more people to focus on what is most important in their lives. At the same time, the group will continue to accelerate the transition to circular economies by expanding its reuse business, which finds value in unneeded items repurposed into items embraced by the next owner.
*1: According to Valuence research
*2 The avoided emissions normally generated in the process of procuring resources, manufacturing, transportation, and disposal of similar products assumed for non-reuse products (watches, bags, jewelry, bullion, apparel, etc.) that the group purchases or resells, when purchased by customers. With reuse, we assume such processes and emissions will be avoided. The environmental impact (CO2 emissions, etc.) generated by the processes thus eliminated is calculated as the amount of avoided emissions. For more information, visit the Sustainability page of the company website (https://www.valuence.inc/en/sustainability/)
*3 Changed the scope of calculation to ALLU,STAR BUYERS AUCTION, and wholesale (bullion) from FY23.
*4 Source: Kanto Regional Forest Office. Carbon Dioxide Absorption Capacity of Forests:
https://www.rinya.maff.go.jp/kanto/nikkou/knowledge/breathing.html (Japanese Only)
