Most of us live our lives searching for that deep satisfaction of having made a tangible impact, one that’s visible. These are the moments we, as humans, seek and cherish. Today, it fills our hearts with pride and joy at Recykal’s inclusion on Fortune magazine’s prestigious 2023 “Change the World” list, a recognition reserved for companies that exemplify the transformative power of business to drive positive social and environmental impact through their core business strategies.
The Fortune Change the World list recognizes companies based on four key factors: Measurable social impact, business results, degree of innovation, and corporate integration.
Recykal‘s presence on this list is a direct result of the measurable and far-reaching social impact it has achieved. The company’s innovative approach has created a far-reaching impact on the waste management landscape in India, where the need for change is urgent. By processing a staggering 700,000 metric tons of waste in 2023, Recykal has made a substantial contribution to reducing carbon emissions and diverting waste away from landfills. The impact extends further as Recykal has successfully integrated informal waste pickers and scrap dealers into the formal waste management system, ensuring better benefits and improved living conditions.
While Recykal’s social impact is undeniable, it’s also worth noting that these efforts have yielded substantial business benefits. Rather than merely enhancing reputation, Recykal’s innovative initiatives have been economically advantageous. The company’s revenue has grown exponentially, surging from $8 million in 2021 to an impressive $95 million in 2023. This demonstrates that profitability and contribution to shareholder value are integral outcomes of Recykal’s commitment to social impact.
Recykal’s innovative prowess is a standout feature that sets it apart from others in its industry. The Recykal Marketplace has redefined how waste is managed in India, bridging the gap in an unstandardized and fragmented industry. This visionary approach has not only earned Recykal a spot on Fortune’s “Change the World ” list but has also inspired others in the industry.
Recykal’s recognition by Fortune as a “Change the World” company underscores its commitment to innovation, sustainability, and, above all, making a profound positive impact on society. This acknowledgment motivates Recykal to continue pushing the boundaries of what’s possible in terms of both social and environmental change.
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About Recykal: Recykal is a cleantech startup, headquartered in Hyderabad, formalizing the circular economy in India. We are the pioneer of the managed marketplace for the Circular Economy in IMethodology Considerations for Press Releasendia, enabling all stakeholders across waste management and recycling with a digitized waste management ecosystem. We operate in these categories offering circularity & sustainability solutions: plastic, paper, metal, e-waste, tyre and batteries.
Solving some of the biggest challenges faced by the industry, Recykal has successfully channelized 7,00,000 MT of waste in 2022, and continues to spread awareness on effective waste management. Today we have 400+ brands, 325+ recyclers and co-processors, 10,000+ businesses, 600+ urban local bodies, 3000+ service providers, and aggregators associated with us.