But losses mount for the home furnishings e-retailer that went public in October.
The retailer says it will help pay for reforestation efforts to offset delivery emissions.
In a promotion timed for today’s observance of Earth Day, Overstock.com Inc. this week launched what it calls carbon-neutral shipping for products purchased from its Worldstock Fair Trade offerings. The product line includes handcrafted items from artisans in some 60 countries.
Overstock says it will mitigate the carbon dioxide emissions from trucks delivering Worldstock Fair Trade offerings by helping to fund carbon reduction projects such as tree plantings. Overstock, No. 28 in the Internet Retailer Top 500 Guide, says it is working with the Carbonfund.org Foundation to fund the reforestation efforts.
"This carbon-neutral shipping program is in addition to other measures the company has taken to recognize consumer demand for environmentally sustainable business practices. Other measures include ride-sharing and corporate recycling programs," says Overstock.com CEO Patrick Byrne. "We recognize CO2 emissions are only one component of our operational impact, and we are working to reduce environmental impacts across our entire supply chain."
Overstock launched Worldstock Fair Trade in 2001. The retailer says it returns up to 70% of product sales to artisans, with $60 million going to the suppliers so far.