Commitment reinforces CoStar Group’s 2050 net-zero target and builds upon ongoing efforts to lessen emissions across the organization
WASHINGTON, May perhaps 26, 2023–(Enterprise WIRE)–Nowadays, CoStar Group, a major provider of on the internet true estate marketplaces, 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 lengthy-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 important to meet the ambitions of the Paris Agreement to attain net-zero international emissions by 2050 to limit international temperature rise to 1.5ºC above pre-industrial levels.
By signing the SBTi commitment letter, CoStar Group expands upon its prior operate to track and report its baseline greenhouse gas emissions, which includes its Scope 1, Scope two (place and marketplace primarily based) and relevant Scope three emissions, as reported in its 2023 Environmental, Social & Governance (ESG) Report. In advance of, and due to the fact the release of the Company’s 2023 ESG Report, the organization has, and will continue to, solicit feedback from its investors on its climate connected operate 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 present a clear pathway for businesses to lessen emissions and mitigate impacts of climate transform, all whilst future-proofing business enterprise development.
“At CoStar Group we are proud of our commitments to decreasing our environmental effect, and this is a single of the pillars of our ESG ambitions,” stated Andy Florance, CoStar Group Founder and Chief Executive Officer.
“In the previous year alone, we have supplied much more than 30 million exceptional 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 operate towards decarbonizing our workplace buildings and information centers. Signing the SBTi commitment letter is a organic subsequent step in our operate towards becoming a net zero organization.”
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SBTi is a joint initiative of environmental effect tracking organization CDP, the United Nations International Compact, Globe Sources Institute (WRI) and the Worldwide Fund for Nature (WWF). The SBTi defines and promotes finest practices in science-primarily based target setting, presents sources and guidance to lessen barriers to adoption, and independently assesses and approves companies’ targets. Pay a visit to sciencebasedtargets.org for much more facts and to view the commitment letter.
For much more facts about CoStar Group’s ESG Report, take a look at https://investors.costargroup.com/ESG/default.aspx, and on ESG commitments, take a look at www.costargroup.com/corporate-duty.
About CoStar Group
CoStar Group (NASDAQ: CSGP), is a major provider of on the internet true estate marketplaces, facts, and analytics in the home markets. Founded in 1987, CoStar conducts expansive, ongoing investigation to generate and keep the biggest and most complete database of industrial true estate facts. Our suite of on the internet solutions enables consumers to analyze, interpret and get unmatched insight on industrial home values, marketplace circumstances and present availabilities. STR supplies premium information benchmarking, analytics, and marketplace insights for the international hospitality market. Ten-X supplies a major platform for conducting industrial true estate on the internet auctions and negotiated bids. LoopNet is the most heavily trafficked industrial true estate marketplace on the internet. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com type the premier on the internet apartment resource for renters searching for fantastic apartment houses and present home managers and owners a established platform for promoting their properties. Homesnap is an market-major on the internet and mobile computer software platform that supplies user-friendly applications to optimize residential true estate agent workflow and reinforce the agent-client connection. Properties.com is the quickest expanding on the internet residential marketplace that connects agents, purchasers, and sellers. BureauxLocaux is a single of the biggest specialized home portals for acquiring and leasing industrial true estate in France. Enterprise Immo is France’s major industrial true estate news service. CoStar Group’s sites attract tens of millions of exceptional 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 web page, CoStarGroup.com, as a channel of distribution for material organization facts. For much more facts, take a look at CoStarGroup.com.
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Contacts
News Media
Matthew Blocher
CoStar Group
(202) 346-6775
mblocher@costargroup.com
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