Amazon helps mobilise $1B to protect rainforests

Here is the marketplace news that captured our attention this week.

Together with governments and leading companies around the globe, Amazon is accelerating climate action as part of the LEAF Coalition, an ambitious public-private initiative.

Amazon has announced that it helped mobilise $1 billion to protect the world’s tropical rainforests. Together with the governments of Norway, the United Kingdom, and the United States, as well as other leading companies, Amazon is accelerating climate action by committing upfront to purchase verified emissions reductions from countries committed to tackling one of the world’s most critical issues: reducing tropical deforestation.

This effort is made possible through the Lowering Emissions by Accelerating Forest finance (LEAF) Coalition. LEAF is an ambitious public-private initiative designed to help protect tropical forests—which benefit billions of people around the world—and to support sustainable development.

Amazon made the announcement during the World Leaders Summit, as part of the United Nations Climate Change Conference (COP 26). Just six months after it was launched at the Leaders’ Summit on Climate, the LEAF Coalition is now one of the largest-ever public-private efforts to protect tropical forests.

The LEAF Coalition also announced that Costa Rica, Ecuador, Ghana, Nepal, and Vietnam will sign the first letters of intent to supply emission reduction purchases to the LEAF government and corporate participants. To date, 23 jurisdictions (countries, states, or provinces) have submitted eligible proposals to the LEAF Coalition. These proposals collectively amount to several times LEAF’s initial goal of 100 million metric tons of emissions reductions, the equivalent to taking 22 million cars off the road for one year.

How does LEAF work?

The LEAF Coalition focuses on three areas to help reduce carbon emissions and protect tropical rainforests. First, it helps buyers of emission reduction credits—companies like Amazon and the governments of Norway, the UK, and the U.S.—commit upfront to purchase verified emissions reductions and mobilise funds.

Second, the coalition helps governments in tropical forested regions reduce emissions across their jurisdictions, adhering to a rigorous carbon crediting standard, including safeguards for Indigenous populations and local communities. Lastly, payments are transacted upon delivery of verified credits, also known as results-based payments.

Tambo's View:

As a co-founder of The Climate Pledge -a commitment by companies and organisations to reach the goals of the Paris Agreement 10 years early- Amazon knows that addressing the global crisis of climate change will require taking bold measures. Amazon'swork over the past six months with world governments and leading businesses cements the company's commitment to climate initiatives and its understanding of its role and responsibility in this space as one of the largest companies in the world.

eBay new shop features are now live for US and UK sellers

eBay has launched its new shop features for US and UK sellers, including a shops tab in Seller Hub, inventory strips, a marketing banner, and other areas.

In the eBay autumn updates (US and UK), the company previewed some of the new features already, including a dedicated Seller Hub shop tab and a new About tab.

What’s New With eBay Shops

  • A dedicated shop tab in Seller Hub—Easily set up and manage the shop by being able to access all the latest shops features from the one-stop-shop in Seller Hub.
  • An About tab—Sellers can now tell buyers about who they are and what they do in the shop’s About tab.
  • Store policies—Set expectations for buyers around shipping, return, and business policies.
  • Inventory strips—Choose which items buyers see first by adding up to 4 inventory strips, each with up to 6 items. Choose from topics such as “Featured items,” “Just in,” “Festive collection,” and more.
  • Visual categories—Add up to 6 categories, each with its own custom image, in a visual “shop by category” section.
  • Marketing banners—Grab buyers’ attention and highlight products, sales, or promotions with clickable marketing banners.

In addition, eBay has upgraded the in-shop search experience for shop owners.

The shop search will now show all of the same filters and search tools available on eBay’s general search, making a seller’s inventory easier to find when buyers are searching directly in their shop.

If buyers search for a shops’ name, buyers may also be given a clue to complete their query.

eBay said sellers will see more updates and enhancements to shops over the coming weeks and months, including the ability to add a video to the About tab telling buyers more about the seller.

These changes are all part of eBay’s tech-led re-imagination to help sellers grow their business on the marketplace.

Tambo's View:

eBay is continuously improving its platform and making it more attractive to sellers from improvements in its shipping and logistics, to the introduction of new shop features. These new features are significant and will help eBay sellers use their shop to tell their story, drive traffic, and showcase inventory during the holiday season, which will in turn, increase their overall sales and revenue. We expect eBay to become a bigger challenger to Amazon in the near future.

OnBuy Science-Led Search Development Delivered £5.5 Million in Additional Sales to Sellers

In its ongoing commitment to be the best choice for retailers, OnBuy has delivered £5.5 million in additional sales through a suite of data science-led search developments to its onsite search engine with every pound going to a retailer in the UK.

Adding this latest enhancement is just one step in OnBuy’s goal of being the partner of choice for retailers while continuing to offer them added value at no additional expense.

OnBuy’s Growth Directly Tied to Seller Success

Unlike other marketplaces, OnBuy does not own any inventory. The company only makes money when its retailers sell goods on the platform. As a result, OnBuy has a natural interest to invest heavily in developing products and services to support its sellers.

The improvements to the search function, which are rooted in ‘relevance science’ incorporate updates to filters, analysers, and search suggestions which have vastly improved the customer experience, allowing consumers to find the right products, faster than ever before.

“We intend to revolutionise the eCommerce model and will continue to promote a fair and transparent offering for our vendors. This monumental development is a giant leap for unbiased online shopping, and there is much more we plan to achieve to benefit both retailers and consumers”, said Cas Paton, Founder and CEO of OnBuy.

OnBuy’s vision is to deliver an exceptional experience to customers and retailers using its platform.

The new onsite search marks another milestone on their journey to change the face of e-commerce with a further roadmap of significant improvements and new integrations ahead that will solidify OnBuy’s position as a fearsome challenger in the market.

Tambo’s View:

With a fast-growing online marketplace like OnBuy, every development and improvement matters. £5.5m worth of increased sales from the first phase of improving onsite search demonstrates just how much potential OnBuy has for its retailers.

Daintree Rainforest 2