Number of employees at the company3-20

What is the measurable positive impact from implementing ESG?

We use AI and Machine Learning to create a dynamic real time report based on the reuse of items redistributed within the marketplace. The ESG data covers everything from internal and external reuse metrics, kilos diverted, who took them, which impact sectors benefited, secondary monetary values and savings. We monitor tangible and intangible impacts such as upskilling, employment levels and community impacts. We also use verified scope 3 carbon emission calculations that are verified by the Canadian Registry to show the carbon savings made via reuse of the marketplace.

Globechain currently has over 10 000 members and operates in the UK, Spain, New York and Texas for external reuse and globally for its internal reuse solution. We have diverted over 58 million kgs of waste equating to 5.5 million items being reused. We have saved our members over £300 million through accessing the items for free and this has impacted millions of people across the world with our items not only distributed locally to communities but also to countries within Africa and Europe.

What kind of innovation or technology does the company use?

We were the first reuse marketplace to enter the market, and we are still the only platform that provides over seven years of transparent ESG data. Our marketplace Globechain is a scalable mega-platform that integrates Machine Learning and Blockchain technologies. As a technology marketplace, we do not hold inventory, making us completely virtual and allowing us to keep costs low while being flexible enough to scale and expand into new countries quickly. Our internal reuse model is globally accessible to corporate clients, and we offer customer integrations and site defensibility through our service offerings such as logistics.

Who are the founders of the company and what is their experience?

May Al-Karooni, CEO & Founder of Globechain, the ESG Reuse Marketplace
Ethnic minority, sole female founder (was one of the 1% of female founders in 2018 to receive more than £500k [£750,000 in total] in VC investment).

May Al-Karooni previously worked within the investment banking and asset management industry, fundraising monies for venture capital, property and hedge funds for the last 10 years totalling over £120 million in funds raised.

In 2015 May set up Globechain after seeing a demand for a new online circular economy within the waste management industry after her own employer expressed a need to reuse items in a more collaborative way.

Cranfield University ‘Women to Watch 2021’ for potential FTSE350 board & NED
Forbes Top 1000 US 2021
Forbes top 100 Environmentalist 2020
Top 100 Meaningful Business 2020

What is the leadership style of the company? Is this a sustainable one?

Amidst the recent years of change, preserving our team culture has been crucial to maintaining a sense of unity. Our work culture is defined by a diligent work ethic intertwined with light heartedness. I've sustained this aspect of our culture through a daily morning catch-up, where everyone contributes something humorous, such as a joke or a meme. Additionally, I encourage informal exchanges of gifs and banter on specific Slack channels to foster personal connections within the team.

We work and achieve successes as a team. We embrace the importance of asking for help, which prevents minor issues from escalating into major crises, reducing the unnecessary pressure and stress. Our team values respect and honesty, creating a work environment where everyone feels valued and their contribution matters. These values have enabled us to thrive despite the challenging global and economic conditions.

What is the company's business model and how is this scalable?

We generate revenue via annual and project data subscriptions and selling our own verified carbon credits. We help companies reduce waste and carbon impact by enabling them to reuse materials and assets. Our platform provides a transparent audit trail that shows where items have ended up, the social impact of the reuse, and the ESG data that can be used for credit financing, bond risk, valuations, and share pricing. We work with businesses in various sectors, such as Construction, Real Estate, Retail, Education, Hospitality, and Medical.

Globechain offers two product solutions: internal reuse and loaning, and external reuse. With internal reuse and loaning, enterprises can optimise their stock by reusing and sharing resources across multiple locations, stores, distribution centres, or offices. External reuse gives enterprises access to our global network of members, allowing them to redistribute their items sustainably.