• Mon. Jun 5th, 2023

CoStar Group Indicators Science Based mostly Targets Initiative (SBTi) Dedication for Emissions Discount


May 26, 2023

Dedication reinforces CoStar Group’s 2050 net-zero goal and builds upon ongoing efforts to cut back emissions throughout the corporate

WASHINGTON, Could 26, 2023–(BUSINESS WIRE)–In the present day, CoStar Group, a number one supplier of on-line actual property marketplaces, info and analytics within the property markets, introduced that its founder and CEO Andy Florance has signed a dedication letter to set near-term and long-term science-based greenhouse fuel emission discount targets in accordance with the Science Based mostly Targets Initiative (SBTi).

SBTi’s science-based discount targets are aligned with the extent of decarbonization mandatory to fulfill the objectives of the Paris Settlement to succeed in net-zero world emissions by 2050 to restrict world temperature rise to 1.5ºC above pre-industrial ranges.

By signing the SBTi dedication letter, CoStar Group expands upon its prior work to trace and report its baseline greenhouse fuel emissions, together with its Scope 1, Scope 2 (location and market based mostly) and related Scope 3 emissions, as reported in its 2023 Environmental, Social & Governance (ESG) Report. Upfront of, and for the reason that launch of the Firm’s 2023 ESG Report, the corporate has, and can proceed to, solicit suggestions from its buyers on its local weather associated work so far and priorities for the longer term. CoStar Group will now proceed to develop clear, science-based targets which will likely be submitted to and validated by SBTi. SBTi’s program of science-based targets present a transparent pathway for corporations to cut back emissions and mitigate impacts of local weather change, all whereas future-proofing enterprise development.

“At CoStar Group we’re happy with our commitments to lowering our environmental influence, and this is among the pillars of our ESG objectives,” mentioned Andy Florance, CoStar Group Founder and Chief Govt Officer.

“Prior to now 12 months alone, we now have supplied greater than 30 million distinctive digital excursions of CoStar properties, leading to an estimated 130,000 metric tons of CO2e averted. We measured our baseline greenhouse fuel emissions to trace our future progress and continued our work in direction of decarbonizing our workplace buildings and information facilities. Signing the SBTi dedication letter is a pure subsequent step in our work in direction of turning into a web zero firm.”

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SBTi is a joint initiative of environmental influence monitoring group CDP, the United Nations International Compact, World Sources Institute (WRI) and the Worldwide Fund for Nature (WWF). The SBTi defines and promotes finest practices in science-based goal setting, provides assets and steering to cut back limitations to adoption, and independently assesses and approves corporations’ targets. Go to sciencebasedtargets.org for extra info and to view the dedication letter.

For extra details about CoStar Group’s ESG Report, go to https://buyers.costargroup.com/ESG/default.aspx, and on ESG commitments, go to www.costargroup.com/corporate-responsibility.

About CoStar Group

CoStar Group (NASDAQ: CSGP), is a number one supplier of on-line actual property marketplaces, info, and analytics within the property markets. Based in 1987, CoStar conducts expansive, ongoing analysis to provide and preserve the biggest and most complete database of economic actual property info. Our suite of on-line companies permits purchasers to research, interpret and acquire unmatched perception on business property values, market situations and present availabilities. STR offers premium information benchmarking, analytics, and market insights for the worldwide hospitality {industry}. Ten-X offers a number one platform for conducting business actual property on-line auctions and negotiated bids. LoopNet is probably the most closely trafficked business actual property market on-line. Residences.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Leases, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com type the premier on-line house useful resource for renters searching for nice house properties and supply property managers and homeowners a confirmed platform for advertising their properties. Homesnap is an industry-leading on-line and cell software program platform that gives user-friendly purposes to optimize residential actual property agent workflow and reinforce the agent-client relationship. Houses.com is the quickest rising on-line residential market that connects brokers, patrons, and sellers. BureauxLocaux is among the largest specialised property portals for purchasing and leasing business actual property in France. Enterprise Immo is France’s main business actual property information service. CoStar Group’s web sites appeal to tens of thousands and thousands of distinctive month-to-month guests. Headquartered in Washington, DC, CoStar Group maintains workplaces all through the U.S., Europe, Canada, and Asia. Sometimes, we plan to make the most of our company web site, CoStarGroup.com, as a channel of distribution for materials firm info. For extra info, go to CoStarGroup.com.

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Information Media
Matthew Blocher
CoStar Group
(202) 346-6775

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