• Sat. Jun 10th, 2023

CoStar Group Indicators Science Primarily based Targets Initiative (SBTi) Commitment for Emissions Reduction


May 26, 2023

Commitment reinforces CoStar Group’s 2050 net-zero target and builds upon ongoing efforts to minimize emissions across the enterprise

WASHINGTON, May well 26, 2023–(Organization WIRE)–Nowadays, CoStar Group, a major provider of on-line 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 function to track and report its baseline greenhouse gas emissions, which includes its Scope 1, Scope two (place and industry primarily based) and relevant Scope three emissions, as reported in its 2023 Environmental, Social &amp Governance (ESG) Report. In advance of, and considering that 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 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 system of science-primarily based targets give a clear pathway for businesses to minimize emissions and mitigate impacts of climate alter, all when future-proofing business enterprise development.

“At CoStar Group we are proud of our commitments to minimizing our environmental influence, and this is a single 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 far 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 enterprise.”

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SBTi is a joint initiative of environmental influence tracking organization CDP, the United Nations International Compact, Planet Sources Institute (WRI) and the Worldwide Fund for Nature (WWF). The SBTi defines and promotes most effective practices in science-primarily based target setting, provides sources and guidance to minimize barriers to adoption, and independently assesses and approves companies’ targets. Stop by sciencebasedtargets.org for far more information and facts and to view the commitment letter.

For far 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-line actual estate marketplaces, information and facts, and analytics in the home markets. Founded in 1987, CoStar conducts expansive, ongoing analysis to create and preserve the biggest and most complete database of industrial actual estate information and facts. Our suite of on-line solutions enables customers to analyze, interpret and obtain unmatched insight on industrial home values, industry situations and present availabilities. STR supplies premium information benchmarking, analytics, and marketplace insights for the worldwide hospitality business. Ten-X supplies a major platform for conducting industrial actual estate on-line auctions and negotiated bids. LoopNet is the most heavily trafficked industrial actual 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 searching for good apartment properties and give home managers and owners a confirmed platform for marketing and advertising their properties. Homesnap is an business-major on-line and mobile software program platform that supplies user-friendly applications to optimize residential actual estate agent workflow and reinforce the agent-client partnership. Residences.com is the quickest expanding on-line residential marketplace that connects agents, purchasers, and sellers. BureauxLocaux is a single of the biggest specialized home portals for acquiring and leasing industrial actual estate in France. Organization Immo is France’s major industrial actual estate news service. CoStar Group’s internet sites 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 program to use our corporate web site, CoStarGroup.com, as a channel of distribution for material enterprise information and facts. For far more information and facts, stop by CoStarGroup.com.

View supply version on businesswire.com: https://www.businesswire.com/news/household/20230526005286/en/


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

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