In 2023, Zip completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
However, Zip has not published a category-level breakdown of its Scope 3 emissions, limiting visibility into specific value chain sources.
| Metric (tCO2e) | 2023 | 2022 |
|---|---|---|
Total Scope 1 | 0a | 8.1a |
Total Scope 2 | ||
Market-Based | 46.9a | 192.1a |
Location-Based | 205.5a | 342.5a |
Total Scope 3 | 26,738.1a | 10,303.2a |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0a | 0.0189a |
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In 2023, the total operational greenhouse gas (GHG) emissions of Zip amounted to 205.5 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2022, the total operational greenhouse gas (GHG) emissions of Zip decreased by 41.39%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2023, Zip reported Scope 2 greenhouse gas (GHG) emissions of 46.9 tCO₂e using the market-based method and 205.5 tCO₂e using the location-based method.a
Compared to the previous year (2022), Zip's Scope 2 emissions (Location-Based) fell by 40% in 2023, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
In 2023, Zip reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2023, Zip reported 26,738.1 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2023 disclosure of Zip includes a breakdown across 0 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2022, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2023, Zip reported total Scope 3 emissions of 26,738.1 metric tons of CO₂ equivalent (tCO₂e).a
Compared to the previous year (2022), Zip's Scope 3 emissions increased by 159.51%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2022, Zip reported Scope 1 greenhouse gas (GHG) emissions of 8.1 tCO₂e and total revenues of USD 429 millions. This translates into an emissions intensity of 0.02 tCO₂e per millions USD.a
In 2022, Zip reported a Scope 1 emissions intensity of 0.02 tCO₂e per millions USD. Compared to the peer group median of 0.95, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2022, Zip ranked 3 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Zip among the top performers, with one of the lowest emissions intensities relative to peers.a
In 2023, Zip reported a total carbon footprint of 26,943.6 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 152.9% increase compared to 2022, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Zip's total carbon footprint was Scope 3 emissions, accounting for 99.24% of the company's total carbon footprint, followed by Scope 2 emissions at 0.76%.a