Commitment reinforces CoStar Group’s 2050 net-zero target and builds upon ongoing efforts to lessen emissions across the business
WASHINGTON, May possibly 26, 2023–(Small business WIRE)–Nowadays, CoStar Group, a top provider of on line 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 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 required 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 function 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 business has, and will continue to, solicit feedback from its investors on its climate connected function 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 corporations to lessen emissions and mitigate impacts of climate transform, all even though future-proofing business 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 targets,” stated Andy Florance, CoStar Group Founder and Chief Executive Officer.
“In the previous year alone, we have supplied much more than 30 million one of a kind 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 function towards decarbonizing our workplace buildings and information centers. Signing the SBTi commitment letter is a organic subsequent step in our function towards becoming a net zero business.”
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 ideal practices in science-primarily based target setting, provides 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, pay a visit to https://investors.costargroup.com/ESG/default.aspx, and on ESG commitments, pay a visit to www.costargroup.com/corporate-duty.
About CoStar Group
CoStar Group (NASDAQ: CSGP), is a top provider of on line genuine estate marketplaces, details, and analytics in the home markets. Founded in 1987, CoStar conducts expansive, ongoing investigation to make and preserve the biggest and most complete database of industrial genuine estate details. Our suite of on line solutions enables clientele to analyze, interpret and achieve unmatched insight on industrial home values, industry circumstances and present availabilities. STR supplies premium information benchmarking, analytics, and marketplace insights for the worldwide hospitality business. Ten-X supplies a top platform for conducting industrial genuine estate on line auctions and negotiated bids. LoopNet is the most heavily trafficked industrial genuine estate marketplace on line. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com kind the premier on line apartment resource for renters in search of fantastic apartment residences and present home managers and owners a verified platform for advertising their properties. Homesnap is an business-top on line and mobile computer software platform that supplies user-friendly applications to optimize residential genuine estate agent workflow and reinforce the agent-client connection. Residences.com is the quickest increasing on line residential marketplace that connects agents, purchasers, and sellers. BureauxLocaux is 1 of the biggest specialized home portals for shopping for 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 one of a kind 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 strategy to make use of our corporate web site, CoStarGroup.com, as a channel of distribution for material business details. For much more details, pay a visit to CoStarGroup.com.
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