Commercial, Energy Efficiency, GHG Emissions - May 11, 2023
Yelp Creates Science-Based Reduction Plan
Yelp Inc., a company that connects customers with local businesses, announced its goal to reach net zero by 2031 through a science-based reduction plan.
The company aims to identify and reduce Scope 1, 2, and 3 emissions as well as use carbon offset and removal programs.
Details were provided in the company's annual environmental, social and governance (ESG) report.
“Embracing remote work has created an opportunity for us to develop a new playbook as we move beyond traditionally held beliefs around an office-centric workplace,” said Jeremy Stoppelman, Yelp co-founder and CEO, in a statement. “Remote work has allowed us to accelerate Yelp’s carbon reduction efforts and our ability to hire diverse talent from around the globe. Our goal of reaching net zero by 2031 reflects Yelp’s deep commitment to doing what we can to protect our planet for future generations.”
Yelp is committed to making sustainable investments, including implementing ESG filters in its investment portfolio, which exclude future investments in issuers with revenues from thermal coal extraction, oil sands, and other sources.
The company also invested $25 million in Green Deposits, which are intended to fund qualifying green loans that support environmental projects like clean transportation, energy efficiency, green buildings and sustainable water/wastewater management.
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