eBay Incorporated

RATING

SECTOR

Business Services & Supplies

WEBSITE

CONTACT

2025 Hamilton Avenue
San Jose, California 95125
USA

 

Tel: 1-866-961-9253

Fax: N/A

Email: impact@ebay.com (email for the eBay Impact team about their initiatives to drive positive social and environmental change)

STOCK EXCHANGE

LISTING

 

  • Standard & Poor’s 83/100 
  • Dow Jones Sustainability Index Percentile ranking: 97th 
  • Vigeo Eiris 69/100 
  • FTSE ESG 4.3/5 
  • Sustainalytics 86/100
  • MSCI AAA 
  • UN PRI Strategy & Governance Rating A+

EMPLOYEES

13,300

CHIEF SUSTAINABILITY OFFICER

Renee Morin

AWARDS

  • Silicon Valley Business Journal Corporate Philanthropy Award

CONTENT SOURCE

FURTHER READING

Report created by Kavita Kripalani

eBay Incorporated

SECTIONS :  Sustainability    Evaluation  •  Progress  •  Watch   Overview

Company Activity

eBay Inc. is an American multinational e-commerce corporation based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995, and became a notable success story of the dot-com bubble.

eBay Inc. is a global commerce leader that connects millions of buyers and sellers around the world. Ebay exists to enable economic opportunity for individuals, entrepreneurs, businesses and organizations of all sizes. Ebay’s portfolio of brands includes eBay Marketplace and eBay Classifieds Group, operating in 190 markets around the world.

Company Sustainability Activity

According to eBay, sustainability is core to their purpose at eBay. Every day, they strive to integrate environmental best practices in their facilities’ operations and maintenance to further reduce their carbon footprint. They continue to partner with key organizations and nonprofits to advocate for climate action.

Circular commerce has been a part of their business since the beginning — the first sale made on eBay was a broken laser pointer. They encourage responsible consumption through the resale of items, helping preserve the world’s finite resources. 

When Pierre Omidyar founded eBay in 1995, he built the platform with the belief that people are inherently good and capable. He set out to create an honest and inclusive space where anyone could find exactly what they were looking for and where anyone could make their own living. Now, as Ebay approaches its 25th anniversary, the world looks different from when that first sale was made of a laser pointer on eBay, but the core of who the company is remains the same. Ebay’s mission always has been to empower people and to create economic opportunity for all. For hundreds of thousands of small business owners, eBay represents an opportunity to tap a vast customer base and participate in a marketplace with approximately 1.5 billion live listings at any given time across 190 markets. As Pierre once said, “An international marketplace like eBay gives us a chance to help each other whenever we can.”

During these unprecedented times amid the global coronavirus (COVID-19) pandemic, Ebay’s top priority is the safety and well-being of its employees, customers and communities. Throughout this time, the platform has served as a way for the eBay community to stay connected and to show their support from every corner of the globe—for each other, for their neighbours, for their fellow business owners and for their community. 

Highlights

  • Recognised in the Dow Jones Sustainability World Index for Responsible Business
  • Chosen for inclusion on Fortune’s list of Change the World companies 
  • 100% rating for equality and inclusion on the Corporate Equality Index
  • Named by Newsweek as one of America’s Most Responsible Companies

Targets

COMMUNITY IMPACT

  • Achieve a higher percentage of growth among eBay sellers in less-advantaged communities as compared with average economic growth nationwide by 2020.
  • Enable $1 billion in charity funds raised by 2020.
  • Lend $1 million to entrepreneurs via Kiva (a non-profit that gives loans to entrepreneurs) by 2020. Enable 50,000 entrepreneurs through access to capital and mentoring, and thereby impact the lives of 250,000 people globally through Kiva, Global Give and grants.
  • Create $2.5 billion in positive economic impacts and avoid 2.5 million metric tons of carbon emissions from 2016 to 2020 through people selling their pre-owned electronics and apparel on eBay.
  • From 2020 to 2025, raise $600 million in total funds to support charities globally.
  • Increase the rate of employee participation in eBay Foundation programs year-over-year.
  • Increase the number of volunteer hours per employee year-over-year.
  • Through Foundation support of nonprofits, 2,000 businesses will be created, saved or strengthened by 2025.

REDUCING ENVIRONMENTAL IMPACT

  • Source 100 percent of their electricity supply from renewable energy sources by 2025 for eBay-controlled data centers and offices.
  • Achieve 50 percent absolute reduction in Scope 1 and 2 Greenhouse Gas (GHG) emissions by 2025 and 75 percent reduction by 2030 from their 2016 baseline.
  • From 2020 to 2025, create $3 billion in positive economic impacts and avoid 3 million metric tons of carbon emissions through people selling their pre-owned electronics and apparel on eBay.

Progress

COMMUNITY IMPACT

  • From 2011 to 2017, the number of eBay’s commercial sellers in less-advantaged communities grew 25 percent compared to a 0.4 percent decrease in the overall number of business enterprises in those communities.
  • Raised $112 million in charity funds in 2019.
  • Total charity funds reached over $1 billion.
  • Disbursed over $270,000 in loans in 2019, bringing their total loan disbursement to over $953,000 and supporting 30,000 borrowers on Kiva.
  • Impacted the lives of about 143,000 people globally.
  • eBay created an additional $820 million in positive economic impact, bringing the cumulative total to $2.9 billion from 2016.

REDUCING ENVIRONMENTAL IMPACT

  • eBay avoided an additional 625,000 metric tons of carbon emissions, resulting in 2.4 million metric tons avoided since 2016.
  • 64% of eBay’s electricity comes from renewable energy sources.
  • Company’s Scope 1 and 2 emission have decreased by 31% from their 2016 baseline.
  • In 2019, through targeted procurement strategies, eBay developed and deployed all new eBay servers with power supplies complying to “80 PLUS GOLD or above” energy efficiency.

SOCIAL IMPACT

  • eBay is committed to maintaining a globally compliant privacy and information protection program that aligns with international best practices and standards, including the Cyber Security Framework of the National Institute of Standards and Technology (NIST) and the ISO 27001 and ISO 27002 standard.

Certificates

  • certified as a member of the EPA renewable energy program

UN Sustainable Development Goals

Company SDGs Compliance

SDG 5

  • Increasing eBay’s female employee population, visibility and leadership presence through recruitment partnership and retention initiatives 

SDG 7

  • Working to power their operations towards 100 percent of their electricity supply coming from renewable energy sources, and partnering with other businesses and organizations to enable renewable energy purchases to accelerate the transition to a new clean energy economy 

SDG  8

  • Supporting small business growth through programs like Retail Revival; investing in advancing an equitable global economy through the eBay Foundation; and advocating for policies that enable small business to compete in an open market 

SDG  12

  • Providing a global platform where products can continuously find renewed life and value, and pursuing new ways to advance circular commerce by using innovative technologies 

SDG 13

  • Taking action to reduce their own carbon and water footprint even as they grow their business, and collaborating and advocating to advance climate action policies 

SDG 17

  • Enabling nonprofits to raise funds to advance causes that support sustainable development and collaborating with NGOs and other organizations to advocate for positive social and environmental impact 

Secondary SDGs: 11, 15 

Evaluation

eBay Inc, has proved to be a very sustainable company. Not only has it won numerous listings/awards, but it has very detailed information published on its sustainable goals, its achievements, and long-term goals. eBay is compliant with six of the seventeen UN Sustainable Development Goals.

eBay’s detailed and factual annual ‘impact reports’ have clear KPIs, targets, and sustainability strategies. 

They also have a specific web page and individual email for their environmental initiatives. And even though the concept of the company is sustainable, eBay encourages responsible consumption through the resale of items, helping preserve the world’s finite sources, unlike fast-fashion brands.

The only reason they have not been rated as A is due to their lack of high value awards. eBay has therefore, been rated a B.

Analyst Outlook: Negative

eBay has clear initiatives and shows their progress with those initiatives clearly. Their business in nature is very sustainable as it promotes circular economy. They clearly show their interest in preserving the environment through their transparency in their reports.

Key Points

  • eBay is a company that is very transparent with their business 
  • One concern is that there is little indication of certificates for their sustainability activities

 

 

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