CoStar Group Indicators Science Primarily based Targets Initiative (SBTi) Commitment for Emissions Reduction
Commitment reinforces CoStar Group’s 2050 net-zero target and builds upon ongoing efforts to cut down emissions across the enterprise
WASHINGTON, Might 26, 2023–(Company WIRE)–These days, CoStar Group, a major provider of on the internet actual estate marketplaces, information and facts and analytics in the home markets, announced that its founder and CEO Andy Florance has signed a commitment letter to set close to-term and extended-term science-primarily based greenhouse gas emission reduction targets in accordance with the Science Primarily based Targets Initiative (SBTi).
SBTi’s science-primarily based reduction targets are aligned with the level of decarbonization essential to meet the targets of the Paris Agreement to attain net-zero worldwide emissions by 2050 to limit worldwide temperature rise to 1.5ºC above pre-industrial levels.
By signing the SBTi commitment letter, CoStar Group expands upon its prior perform to track and report its baseline greenhouse gas emissions, such as its Scope 1, Scope two (place and market place primarily based) and relevant Scope three emissions, as reported in its 2023 Environmental, Social & Governance (ESG) Report. In advance of, and because the release of the Company’s 2023 ESG Report, the enterprise has, and will continue to, solicit feedback from its investors on its climate associated perform to date and priorities for the future. CoStar Group will now proceed to create clear, science-primarily based targets which will be submitted to and validated by SBTi. SBTi’s plan of science-primarily based targets give a clear pathway for firms to cut down emissions and mitigate impacts of climate transform, all though future-proofing company development.
“At CoStar Group we are proud of our commitments to decreasing our environmental effect, and this is 1 of the pillars of our ESG targets,” stated Andy Florance, CoStar Group Founder and Chief Executive Officer.
“In the previous year alone, we have offered a lot more than 30 million exclusive virtual tours of CoStar properties, resulting in an estimated 130,000 metric tons of CO2e avoided. We measured our baseline greenhouse gas emissions to track our future progress and continued our perform towards decarbonizing our workplace buildings and information centers. Signing the SBTi commitment letter is a organic subsequent step in our perform towards becoming a net zero enterprise.”
Story continues
SBTi is a joint initiative of environmental effect tracking organization CDP, the United Nations Worldwide Compact, Globe Sources Institute (WRI) and the Worldwide Fund for Nature (WWF). The SBTi defines and promotes most effective practices in science-primarily based target setting, delivers sources and guidance to cut down barriers to adoption, and independently assesses and approves companies’ targets. Stop by sciencebasedtargets.org for a lot more information and facts and to view the commitment letter.
For a lot more information and facts about CoStar Group’s ESG Report, stop by https://investors.costargroup.com/ESG/default.aspx, and on ESG commitments, stop by www.costargroup.com/corporate-duty.
About CoStar Group
CoStar Group (NASDAQ: CSGP), is a major provider of on the internet actual estate marketplaces, information and facts, and analytics in the home markets. Founded in 1987, CoStar conducts expansive, ongoing analysis to generate and keep the biggest and most complete database of industrial actual estate information and facts. Our suite of on the internet solutions enables clientele to analyze, interpret and get unmatched insight on industrial home values, market place situations and present availabilities. STR delivers premium information benchmarking, analytics, and marketplace insights for the worldwide hospitality market. Ten-X delivers a major platform for conducting industrial actual estate on the internet auctions and negotiated bids. LoopNet is the most heavily trafficked industrial actual estate marketplace on the internet. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com kind the premier on the internet apartment resource for renters searching for wonderful apartment houses and give home managers and owners a established platform for promoting their properties. Homesnap is an market-major on the internet and mobile software program platform that delivers user-friendly applications to optimize residential actual estate agent workflow and reinforce the agent-client connection. Houses.com is the quickest expanding on the internet residential marketplace that connects agents, purchasers, and sellers. BureauxLocaux is 1 of the biggest specialized home portals for purchasing and leasing industrial actual estate in France. Company Immo is France’s major industrial actual estate news service. CoStar Group’s internet websites attract tens of millions of exclusive month-to-month guests. Headquartered in Washington, DC, CoStar Group maintains offices all through the U.S., Europe, Canada, and Asia. From time to time, we program to use our corporate site, CoStarGroup.com, as a channel of distribution for material enterprise information and facts. For a lot more information and facts, stop by CoStarGroup.com.
View supply version on businesswire.com: https://www.businesswire.com/news/house/20230526005286/en/
Contacts
News Media
Matthew Blocher
CoStar Group
(202) 346-6775
mblocher@costargroup.com
