2023 was a year of records, witnessing an extraordinary number of climate- and nature-related records broken around the world. We’re facing a polycrisis, and the private sector, traditionally part of the problem, must now become part of the solution.
For Foxway, this means running a business that can thrive in an economy not reliant on constant growth. Foxway is by design in a good position to do exactly that — to be the advocate for a more circular tech industry in which fewer new devices are produced.
–In 2023, we made significant strides, breathing new life into over two million used devices, thereby helping our clients avoid nearly 300,000 tons of CO2e emissions by buying Foxway refurbished devices, says Kai-Riin Kriisa, Chief Sustainability Officer at Foxway.
With the addition of Foxway UK operations allowing to double the total volume of devices recovered and remarketed, nearly 2,400,000 devices were handed over to new users.
The increasing focus on circularity and more sustainable practices in the electronics industry are on a steady rise. The refurbished smartphone market alone is estimated to be worth more than $140bn by 2030, compared to $50bn in 2020.
–This trend heightens the need for advancing the industry to keep the environmental impact of refurbished devices significantly lower than producing new. Today, Foxway offer refurbished smartphones at an average footprint of 2.35 kg CO2e, laptops at 11.10 kg CO2e, and tablets at 3.87 kg CO2e. As a customer and partner, you have the opportunity to choose more sustainable tech and at the same time reduce your company’s footprint, says Kai Riin Kriisa.
For 2024, Foxway will further amplify positive change through deeper collaborations with research and enhanced industry-science partnerships. This includes active participation in studies to advance circular economy principles and rigorously quantify their impacts, underscoring the dedication to science-based practices. The goal is to lead the transition of the industry. Foxway is doing that by helping its customers and partners to adapt a circular business model, in the form of buying refurbished tech or device-as-a-service.
Read the Sustainability Report 2023
Contacts:
Emma Lindberg, Chief Marketing Officer at Foxway
em***********@fo****.com
+46 709530204
