Provides end-to-end CO2 impact assessment to help companies define and refine their circularity strategy for the mobile device ecosystem
ATLANTA, September 20, 2023 – Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects, and connects major consumer purchases, today introduced Carbon IQ™, the first solution that provides detailed measurement and insights on the carbon impact of individual connected devices, including refurbished devices, throughout the device lifecycle. Based on Carbon IQ insights, a new smartphone has an estimated carbon footprint that ranges from 36 kg to 96 kg of CO2 while a refurbished device has up to 90 percent less emissions.
The end-to-end insights and circularity planning support Assurant can deliver through patent-pending Carbon IQ includes:
- Device lifecycle CO2 footprint: Enables clients to see the carbon impact of each device, including new and refurbished devices
- CO2 avoidance and optimization scenario analysis: Provides clients with CO2 emissions throughout the supply chain and lifecycle to identify opportunities for reduction or avoidance
- Forecasting, tracking, and modeling: Allows clients to see how the carbon footprint of mobile device programs can and is changing based on the mix of new and refurbished devices that are sold
“As our clients move toward their emission reduction goals, they’re looking for more precise data to help define and refine their circularity strategy for mobile devices in their ecosystem,” said Biju Nair, EVP and president, Global Connected Living and International, Assurant. "Carbon IQ is the first solution that aggregates the global carbon footprint of an individual device throughout its entire device lifecycle – from new to re-processing and reused. Our dashboards enable companies to quickly and easily see insights and impacts based on device CO2 emissions, which can guide decision-making.”
E-waste is the fastest growing waste problem in the world, generating about 50 million tons of waste each year according to Statista. At the same time, the global cost of living crisis combined with a greater desire to live more sustainably is driving demand for refurbished devices. According to Counterpoint Research’s Global Refurb Smartphone Tracker, the global secondary smartphone market grew 5 percent year over year in 2022, highlighting growing consumer demand for high quality certified pre owned refurbished devices.
To meet rising demand, the complete mobile ecosystem must influence consumer behavior to trade-in their old devices when they are ready to upgrade and consider certified pre-owned devices as replacements. Refurbished devices also serve a critical need in bridging the digital divide by making high quality, up to date smartphones more accessible. In 2022, Assurant, in partnership with its clients, repurposed and extended the useful life of more than 22 million devices. This equates to diverting more than 4,000 metric tons of e-waste from landfill and avoiding approximately 1.2 million tons of CO2 emissions.
Carbon IQ also enables operators, manufacturers and retailers to track marketing initiatives for trade-in campaigns back to reused phone sales to create a link between Marketing, Sales, and Sustainability. The more devices sourced from trade-in programs, the better the carbon footprint will be for refurbished/used devices.
Carbon IQ is informed by a methodology that was reviewed and developed with the Carbon Trust.