Back Market announce B Corp certification - Business Leader News

Back Market announce B Corp certification

Back Market's innovation lab.

Back Market, a refurbished electronics marketplace, has recently announced its B Corporation certification, joining a small number of unicorns to achieve the prestigious status. Through meeting strict standards around Governance, Workers, Community, Environment, and Customers, Back Market aims to position refurbished technology as an affordable and sustainable alternative to new technology devices. This news comes as 61% of Brits say sustainability is more important to them than it was two years ago.

Despite refurbished technology being relatively unknown in the UK just a few years ago, Back Market’s data shows that 65% of UK shoppers would consider switching to a refurbished smartphone, with one in 20 usually opting for a refurbished phone. This surge in interest is also demonstrated through Back Market’s increasing the number of sellers it works with by 91% since launching in the UK in 2021.

    Since its inception, the refurbished marketplace has been dedicated to prolonging the life of tech products and reducing the impact of e-waste, with a single refurbished smartphone preventing 6.29 oz of e-waste – the equivalent of 20 pairs of AirPods.

    In March 2023, Back Market made huge strides in achieving this, announcing a saving of over one million tonnes of CO2 from being released thanks to the sale of refurbished technology.

    Thibaud Hug de Larauze, CEO and Co-Founder of Back Market said: “Companies today simply can’t ignore the importance of reducing their environmental impact. We’re at an inflexion point with regards to climate change, and the choices we make today will ensure a sustainable future tomorrow. For us at Back Market, becoming B Corp certified was always a key strategic objective.

    “This commitment enables us to strengthen trust, transparency, and legitimacy in refurbished technology. Our planet’s resources are dwindling at an alarming rate, and the overproduction of tech products due to increased demand is a big part of the problem. And so, we’re thrilled to become B Corp certified, but we’re also aware we have a lot of education to do.”