MusicMagpie has erected a giant sculpture made entirely of discarded electronics on a beach in Cornwall in a bid to highlight the growing threat of e-waste to G7 leaders.
“Mount Recyclemore” has been constructed by MusicMagpie and artist Joe Rush on a beach near to Carbis Bay, where the G7 summit is due to be held from tomorrow.
The sculpture depicts the heads of leader attending the G7 summit, including Boris Johnson, US President Joe Biden and German Chancellor Angela Merkel and aims to raise awareness about the e-waste as leaders of the world’s most advanced economies discuss how to tackle climate change.
According to research carried out by MusicMagpie, which resells used electronics, G7 nations produce 15.9 million tonnes of e-waste every year, and the UK is the second highest producer of electrical waste per capita.
Despite the staggering amounts of electronic waste Brits produce, a whopping 79 per cent said they didn’t know what e-waste is, while 31 per cent said they didn’t believe it damaged the environment.
A further 47 per cent of Brits do not recycle, resell or donate their old tech despite them sitting on an estimated £16.5 billion worth of goods.
As part of its “Recyclemore campaign, MusicMagpie has partnered with waste management charity WasteAid, seeing it donate £1 for every piece of consumer tech customers trade in.
“If sent to landfills, e-waste can leak harmful chemicals into the soil and water or if incinerated, fumes release chemicals into the air, contributing to global warming,” MusicMagpie’s founder and chief executive Steve Oliver said.
“Not only this, but everything from our phones to our laptops rely heavily on precious materials to operate, which are not only limited resources, but also directly impact climate change when being extracted from the earth.
“We need to better educate and empower people to make changes today. People can support a more sustainable, circular economy, by doing something as simple as trading in or recycling their tech, which will extend the life of those devices and their parts. Thanks to our customers, we are already able to give nearly half a million consumer technology products a second life each year.”
It came as MusicMagpie reported its first half-year results since launching its £208 million initial public offering in April.
In the first six months of the year, MusicMagpie saw revenues jump 3.4 per cent to £72.5 million while adjusted EBITDA jumped 14.8 per cent to £6.2 million, both falling in line with expectations.
“The performance in the period demonstrates that the business continued on its growth trajectory whilst we successfully completed our IPO in April,” Oliver continued.
“We have continued to capitalise on the favourable long-term trends that are driving musicMagpie’s growth as a leading re-commerce provider of consumer technology. We are particularly pleased with the performance so far of our new smartphone subscription service, for which we continue to see significant long-term potential.”