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–(Small business WIRE)–Currently, CoStar Group, a top provider of on the web genuine estate marketplaces, details 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 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 operate to track and report its baseline greenhouse gas emissions, such as its Scope 1, Scope two (place and industry 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 associated 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 system of science-primarily based targets supply a clear pathway for businesses to lessen emissions and mitigate impacts of climate adjust, all although future-proofing enterprise 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 ambitions,” stated Andy Florance, CoStar Group Founder and Chief Executive Officer.
“In the previous year alone, we have supplied much more than 30 million distinctive 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.”
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 ideal practices in science-primarily based target setting, delivers sources and guidance to lessen barriers to adoption, and independently assesses and approves companies’ targets. Go to sciencebasedtargets.org for much more details and to view the commitment letter.
For much more details 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 top provider of on the web genuine estate marketplaces, details, and analytics in the home markets. Founded in 1987, CoStar conducts expansive, ongoing analysis to generate and preserve the biggest and most extensive database of industrial genuine estate details. Our suite of on the web solutions enables clientele to analyze, interpret and acquire unmatched insight on industrial home values, industry situations and existing availabilities. STR gives premium information benchmarking, analytics, and marketplace insights for the worldwide hospitality business. Ten-X gives a top platform for conducting industrial genuine estate on the web auctions and negotiated bids. LoopNet is the most heavily trafficked industrial genuine estate marketplace on the web. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com kind the premier on the web apartment resource for renters in search of wonderful apartment residences and supply home managers and owners a confirmed platform for marketing and advertising their properties. Homesnap is an business-top on the web and mobile computer software platform that gives user-friendly applications to optimize residential genuine estate agent workflow and reinforce the agent-client partnership. Houses.com is the quickest expanding on the web residential marketplace that connects agents, purchasers, and sellers. BureauxLocaux is 1 of the biggest specialized home portals for acquiring and leasing industrial genuine estate in France. Small business Immo is France’s top industrial genuine estate news service. CoStar Group’s internet websites attract tens of millions of distinctive 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-site, CoStarGroup.com, as a channel of distribution for material organization details. For much more details, take a look at CoStarGroup.com.
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