Yelp Sets Goal of Reaching Net Zero by 2031 in Latest ESG Report
10 Maio 2023 - 6:04PM
Business Wire
Commitment to sustainable investing includes
$25 million in Green Deposits and integrating ESG filters in its
investment portfolio
Yelp Inc. (NYSE: YELP), the company that connects people with
great local businesses, released its annual environmental, social
and governance (ESG) report today. The report introduces Yelp’s
goal to reach net zero by 2031 through a science-based operational
reduction plan, which includes strategies to identify and reduce
Scope 1, 2 and 3 emissions as well as utilize high-quality carbon
offset and removal programs.
“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. “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.”
As part of the report, Yelp also outlined its commitment to
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
revenue sources that do not meet Yelp’s ESG standards. Yelp also
invested $25 million in Green Deposits, which are earmarked to fund
qualifying Green Loans in the U.S. These Green Loans support
environmental projects like clean transportation, energy
efficiency, green buildings and sustainable water/wastewater
management, providing another way for Yelp to sustainably invest in
the local communities it serves.
In addition to outlining the company’s environmental
commitments, the report details Yelp’s continued investments in
product development to help users find businesses that align with
their values. It also provides the latest workforce diversity data
and the company’s continued work to protect content integrity on
the platform, including Yelp’s Trust & Safety efforts.
Additionally, Yelp highlights the ways it continues to protect its
users and employees through investments in security technology and
employee education.
The full ESG report can be read here. Additional information
about Yelp’s ESG approach can be found at yelp-ir.com.
About Yelp Inc.
Yelp Inc. (yelp.com) is a community-driven platform that
connects people with great local businesses. Millions of people
rely on Yelp for useful and trusted local business information,
reviews and photos to help inform their spending decisions. As a
one-stop local platform, Yelp helps consumers easily discover,
connect and transact with businesses across a broad range of
categories by making it easy to request a quote for a service, book
a table at a restaurant, and more. Yelp was founded in San
Francisco in 2004.
Forward-Looking Statements
This document contains forward-looking statements that involve
risks, uncertainties and assumptions that, if they never
materialize or prove incorrect, could cause our results to differ
materially from those expressed or implied by such forward-looking
statements. The statements contained in this document that are not
purely historical are forward-looking statements and include, but
are not limited to, statements regarding Yelp’s plans related to
ESG initiatives and expectations regarding the achievement of its
ESG goals, including its goal of achieving net zero by 2031 and
carbon mitigation plans. These statements are based on the beliefs
and assumptions of management, which are in turn based on
information currently available to management. Such forward-looking
statements are subject to risks, uncertainties and other important
factors that could cause actual results and the timing of certain
events to differ materially from future results expressed or
implied by such forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, those discussed under the captions “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in Yelp’s most recent Annual Report on Form
10-K and Quarterly Report on Form 10-Q at www.yelp-ir.com or the
SEC’s website at www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20230510006041/en/
Investor Relations Contact: Kate Krieger ir@yelp.com
Press Contact: Amber Albrecht press@yelp.com
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