Foxway, based in Solna, Sweden, has taken significant steps towards authentic sustainability in 2024, as outlined in its latest sustainability report. With a model centered on repairing, refurbishing, reusing, and recycling IT devices, Foxway aims to limit environmental impact far beyond the traditional “produce-use-dispose” model. Chief Sustainability Officer Kai-Riin emphasizes that genuine sustainability demands systemic change. Mere circularity is insufficient without a fundamental economic shift that respects planetary boundaries. Concepts like sufficiency and degrowth are now pivotal in Foxway’s vision.
Strong growth in second-hand devices
Foxway achieved a 20% organic growth in processed used devices during 2024. It sold 2,774,792 repaired, collected, and reused devices, representing a 16% year-on-year increase. And this to say the least an impressive number. Although the avoided CO2e emissions dropped 19% to 234,726 tons due to changes in device production footprints, Foxway stresses that lifetime extension remains the most effective impact strategy.
Emissions and energy improvements
Foxway’s total CO2e emissions (Scope 1, 2, and 3) slightly decreased to 420,607.9 tons. Carbon intensity per million-euro revenue fell by 7% to 615 tons CO2e/Mn €. Moreover, 89.4% of the company's electricity usage was renewable, progressing towards its 2030 100% renewables goal.
Recognition and new sustainability awards
The company’s efforts were recognized with the Lenovo 360—Outstanding Climate Action Award. Foxway’s climate goals were also validated by the Science Based Targets initiative (SBTi), confirming alignment with the Paris Agreement’s 1.5°C trajectory.
Preparing for stricter reporting standards
Foxway is preparing for the upcoming Corporate Sustainability Reporting Directive (CSRD). It has implemented tracking systems, conducted internal training, and begun alignment with the European Sustainability Reporting Standards (ESRS).
A broader social and governance agenda
In 2024, Foxway focused on enhancing workplace safety, diversity, and supply chain responsibility. Women represented 32% of the workforce, although only 17% of board positions were held by women. The company maintained strong ESG governance and saw no confirmed incidents of corruption.
Driving towards a sustainable 2028 vision
Foxway’s 2028 vision, "Authentically sustainable. Growing by degrowing the industry," highlights a radical shift from overconsumption towards sustainable technology choices. With initiatives like the Circular Handshake and active participation in networks like the UN Global Compact, Foxway is leading by example in the sustainable tech landscape.
Market
Trade-in
Repair
Refurbishing
