Warby Parker California Voluntary Carbon Market Disclosures Act 

Warby Parker Inc. (“we” or “us”) is providing this disclosure for the purposes of California’s Voluntary Carbon Market Disclosures Act (“VCMDA”). For more information about our sustainability strategy, please refer to the “Environment” section in our latest Impact Report.  

Carbon Neutral Claims  

VCMDA Section 44475.2

Every year we calculate our carbon footprint, the estimated sum of greenhouse gas emissions, which are the principal cause of climate change. We then purchase offsets to neutralize the footprint of our operations (which includes Scope 1 and Scope 2 emissions) as well as to neutralize specific categories of Scope 3 emissions (which are emissions that occur from sources owned or controlled by other entities in our value chain). We take our impact on the planet seriously and are proud to be carbon-neutral for our operational emissions since our founding.

We do this work by retaining the help of third-party agencies. Since 2021, we have worked with Watershed, a platform that allows companies to measure their carbon footprint, plan and execute on steps to reduce emissions, and share results. In partnership with Watershed, we aim to follow the latest climate science and improve our carbon measurement methodologies each year. We do not seek third-party verification of our footprint or claims. Watershed, the provider we work with to calculate our carbon footprint, has obtained external assurance of their methodology (link here).

We quantify our greenhouse gas emissions using a standardized approach in accordance with the Greenhouse Gas Protocol. These emissions correspond to Scope 1, Scope 2, and Scope 3 emissions as defined by the Greenhouse Gas Protocol, and include:

  • Goods and services: This category includes the goods and services we use to run our business—from construction activities to professional services. Watershed’s platform allows us to track the vendors with the biggest impact on our carbon emissions, and to use vendor-specific emissions factors where available.
  • Products: This category includes the emissions for the entire life cycle of our products, including the materials that go into our products, the energy used in the manufacturing process, and the transport of products and components.
  • Marketing: This category includes the carbon emissions from all marketing-related activities and spend, including running television and online advertisements, search engine marketing, and printed marketing materials.
  • Team members: This category includes employee travel and commuting, as well as the impact of home offices for remote employees (including energy usage and waste).
  • Retail: This category includes the electricity, natural gas, refrigerants and energy use required to operate our retail stores.
  • Other: This category includes those categories that, when combined, make up a small portion of our total carbon footprint, such as the electricity, refrigerants and natural gas used in our offices and labs, and cloud spend.

Once we have our calculations, we purchase carbon offsets (via Native, a Public Benefit Corporation) to neutralize the greenhouse gas footprint of our operations, which includes Scope 1 and Scope 2 emissions. We also offset Scope 3 emissions from business travel and employee commuting, products (including materials and manufacturing), and upstream and downstream logistics. In total, we offset approximately 48% of our 2022 footprint. 

Carbon Offsets 

VCMDA Section 44475.1

All the offset projects we select undergo rigorous review with Native and are validated by current standards, including the Gold Standard, Verified Carbon Standard, and Climate Action Reserve. We also ask ourselves five questions to help determine the best use for our carbon offsets:

  1. 1. Additionally: Will the proposed project reduce greenhouse gas emissions that would not be reduced through other incentives?
  2. 2. Verifiability: Is an objective third party able to look at project data and confirm that the carbon reductions are real and credible?
  3. 3. Place: Do we have a geographical tie to the project area? 

  4. 4. Type: Does the project relate to our major categories of greenhouse gas emissions?
  5. 5. Commitment: Will our support over several years help drive the development of a new greenhouse gas emissions reduction project or provide security to an existing project?

While we purchase offsets to neutralize what is being emitted by our operations, our primary aim is to reduce our overall footprint through product improvements, supplier engagement, and other initiatives. We use our carbon accounting process to help guide these efforts, along with our life cycle assessment and other insights (as noted in our annual Impact Report).

Below is a list with details regarding Warby Parker’s carbon offset projects purchased in calendar year 2023. We do not seek third-party verification of our carbon offset claims.   

Project Name Business Entity Selling the Offset Registry Project Number Protocol/Methodology Type Location
Wind based power generation by Panama Wind Energy Private Limited in Maharashtra, India Native, a Public Benefit Corporation Verified Carbon Standard (VCS) VCS #1671 ACM0002 Renewable energy (avoided emissions)  Santara District, Maharashtra, India
AAC Block Project By Aerocon Buildwell Pvt. Ltd. (EKIESL- June 2016-02) Native, a Public Benefit Corporation Verified Carbon Standard (VCS) VCS #1549 AMS-III.Z Manufacturing industries (avoided emissions) Ujjain, Madhya Pradesh, India
Dempsey Ridge Wind Project Native, a Public Benefit Corporation Verified Carbon Standard (VCS) VCS #780 ACM0002 Renewable energy (avoided emissions) Roger Mills and Beckham Counties, Oklahoma

Disclaimer and Forward-Looking Statements. 

This disclosure is provided solely for the purposes of the VCMDA and is not intended to create any legal right or obligation nor concede that any specific item is required to be disclosed by the VCMDA or waive any interpretations of the VCMDA. In addition, data, statistics, metrics, and information derived from third-party sources included in this disclosure are non-audited estimates, not prepared in accordance with generally accepted accounting principles, continue to evolve, and may be based on assumptions believed to be reasonable at the time of preparation but may be subject to change. This disclosure has not been verified by independent third parties unless otherwise noted.

This disclosure contains forward-looking statements within the meaning of U.S. federal securities laws. Forward-looking statements generally relate to future events and include estimates, projections, guidance or outlook. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “could,” “would,” “expect,” “intend,” “believe,” “think,” “goal,” “target,” “estimate,” or the negative of these words or other similar expressions. Statements regarding targets, goals and commitments are aspirational and are based on our current expectations, but they involve a number of estimates, assumptions, and uncertainties. Our actual future results, including the achievement of our targets, goals or commitments, could differ materially from those stated in this disclosure as the result of changes in circumstances, assumptions not being realized, or other risks, uncertainties, and factors. Such risks, uncertainties, and factors include the risk factors discussed more fully in the “Risk Factors” section of our filings with the U.S. Securities and Exchange Commission, including our most recent reports on Forms 10-K, 10-Q, and 8-K, as well as, with respect to targets, goals and commitments outlined in this disclosure or elsewhere, the assumptions, risks, uncertainties, and factors identified in this report. All forward-looking statements in this report are made as of the date of this report and we undertake no obligation to update such statements unless required by law.

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