Carbon Credit Initiatives

Resale platform Vestiaire Collective is initiating an industry-first carbon credit initiative, making it the first pre-owned fashion business to monetize avoided emissions into a measurable new asset. The second-hand retailer will start selling carbon credits certified by partner Inuk this October—55,000 certified credits will be up for sale, representing avoided emissions from sales in 2023 and 2024. Proceeds are set to be reinvested into initiatives to bolster and grow Vestiaire Collective's emissions avoidance. “The circular economic model will not win until we have a true financial incentive,” said Dounia Wone, Vestiaire’s chief impact officer, “That’s why we’re monetising the circular economy with these carbon credits… It’s about shifting the mindset of people who finance the world to look at circularity differently and take it seriously.“