Readly achieves ninety percent of its sustainability targets and drives DEI initiatives

28 Mar, 2024, 07:30

Digital magazine and newspaper app Readly has announced its latest Sustainability Report with insights into the ESG performance during the past year. The report shows that Readly met 90 percent of its sustainability goals in 2023. Highlights include a 5 percent increase in daily active users on the app and a 12 percent rise in user engagement. The achievements align with Readly's goal to increase the consumption of journalism and empower readers to stay informed, engaged, and entertained.

The total digital reading on Readly during 2023 resulted in an estimated reduction of CO₂ emissions corresponding to approximately 18,200 tonnes of CO₂e. This is a 10 percent increase compared to 2022.

– We are happy to see the results of our sustainability efforts, specifically around reader empowerment. Our team's efforts keep unlocking a diversity of quality journalism to our subscribers in a planet friendly way. We will continue to develop our product and encourage more people to explore all the qualitative content in the app and to spend even more time with Readly, says Philip Lindqvist, CEO of Readly.

In 2023, Readly heightened its strategic commitment to diversity, equity, and inclusion (DEI). An internal DEI committee, comprising representatives from various departments, was established to drive education, identify areas for improvement, establish objectives and report on progress. This approach involves the integration of DEI principles into policies, procedures, and decision-making processes.

– Based on our recent internal survey, 53 percent of our employees come from diverse international backgrounds, underscoring the variety of cultures within our team. Moving forward, our focus is on harnessing the power of these diverse perspectives to foster a truly inclusive environment. We envision a workplace where every individual is not only encouraged to flourish personally but also enabled to contribute significantly to our business by leveraging their unique backgrounds and viewpoints, says Ranj Begley, Chief Content Officer and Chairwoman of the DEI committee.

Other achievements include a test launch of audio functionality and expanding the portfolio of content available in mobile reading format. These initiatives aim to enhance the flexibility of the reading experience, providing more readers with more opportunities to access quality journalism.

The only goal not achieved in the 2023 review concerns reducing the emissions per employee from business travel across Readly’s global offices (+7%). Despite the challenges posed by Readly’s multi-country presence in reducing air travel, total emissions in 2023 stayed about four times lower than pre-pandemic levels. To address this challenge, the focus in 2024 will shift towards promoting international train travel as a sustainable alternative, encouraging employees to explore climate friendly options.

Key findings of the report include:

In markets where Readly controls the choice of supplier, the share of renewable electricity rose to 56 percent (46% in 2022), achieving a total renewable energy share (electricity, heating and cooling) of 78 percent (68% in 2022). This led to a notable 13% decrease in energy intensity per FTE in 2023 compared to 2022, marking the third consecutive year of decline.
According to Readly’s global user survey of 6000 subscribers, 85 percent of respondents say it’s important to them that their consumption of journalism is as diverse as possible. 42 percent say that using Readly has boosted their knowledge and understanding.
For the third consecutive year, Readly makes the Green List in The Allbright Report 2023, celebrating gender diversity among listed Swedish companies. Readly has a 50/50 gender ratio in the Senior Leadership Team and among managers.
In 2023, Readly established an internal DEI committee to enhance diversity, equity, and inclusion. An internal survey found that 53 percent of the workforce has an international background.

The Readly Sustainability Report is available at: https://corporate.readly.com/about-us/sustainability/

For more information
Linnéa Aguero, head of Communications & Sustainability
linnea.aguero@readly.com, 0725-03 32 31

About Readly
Readly is the European category leader for digital magazines. The company offers a digital subscription service where customers have unlimited access to 7700 national and international magazines - all in one app and at a fixed monthly fee. Readly has subscribers in 50 countries and content available in 17 different languages. In collaboration with around 1,200 publishers worldwide, Readly is digitising the newspaper and magazine industry. In 2023, revenues amounted to SEK 677 million. The Readly share is listed on Nasdaq First North Growth Market. For more information, please visit https//corporate.readly.com.