Company Announces Commitment to Net-Zero Greenhouse Gas Emissions by 2040 and Publicly Discloses EEO-1 Report; Quantitative ESG Disclosures to be Made Available Annually in Accordance with SASB Framework
Equifax® (NYSE:EFX) is expanding its commitment to Environmental, Social and Governance (ESG) issues and has announced that the company will make new quantitative ESG disclosures available annually on Equifax.com.
These disclosures are being made in accordance with the Sustainability Accounting Standards Board (SASB) framework and include initial SASB-aligned reporting as well as public disclosure of the company’s Equal Employment Opportunity (EEO-1) report. Equifax also announced a commitment to net-zero greenhouse gas emissions by 2040, a market leading sustainability commitment enabled by the company’s Equifax Cloud™ transformation.
“We strive to empower economically healthy individuals and communities everywhere we do business and believe that a strong ESG strategy is imperative to creating a more inclusive global economy. Our ESG commitment is aligned with our purpose – to help people live their financial best,” said Mark W. Begor, CEO of Equifax. “Continuing to drive greater diversity in our workforce and adhering to strong environmental sustainability practices is critical to building long-term innovation and value for consumers, our customers and our shareholders. With the expansion of our ESG disclosures, we are further committing to ongoing transparency and holding ourselves accountable to advancing our ESG priorities across our day-to-day operations.”
Equifax recognizes that continued emission of greenhouse gasses can cause greater global warming that could lead to significant economic and social consequences. The company is announcing a commitment to reach net-zero greenhouse gas emissions by 2040. To support this commitment, Equifax is disclosing its greenhouse gas emissions baseline data and a framework for a decarbonization strategy to address its global operational footprint, including the company’s supplier value chain.
As a technology company that does not manufacture physical products, Equifax’s carbon emissions are primarily driven by the electricity used to power offices and data centers. The move to the Equifax Cloud is expected to propel the company on its journey to net-zero by significantly reducing the footprint of on-site technology and data centers and leveraging the enhanced energy efficiency of its cloud service providers.
“Equifax understands the power of data, analytics and technology in addressing the most pressing issues facing the world around us,” noted Bryson Koehler, Chief Technology Officer at Equifax. “Our Equifax Cloud transformation furthers the company’s sustainability goals, with migration of physical data centers to the cloud expected to significantly reduce our Scope 1 and Scope 2 emissions. To help achieve this, Equifax makes a concerted effort to partner with cloud providers that have efficient, low-carbon strategies and share our goals of reducing emissions. Our Equifax Cloud transformation is a great example of the alignment between our business strategy and our ESG priorities.”
Equifax has also aligned its Inclusion and Diversity strategy to its purpose of helping people live their financial best. The company is among the first in its industry to disclose an EEO-1 and SASB report on workforce demographics. These disclosures illustrate that in 2020, 31% of Equifax global senior leadership identified as female, and women comprised 45% of the Equifax global workforce. During the same time period, 42% of Equifax U.S. employees identified with diverse racial and ethnic groups; a 2% increase over the previous year.
“We are strongly committed to nurturing a culture where diverse talent thrives,” commented Carla Chaney, Chief Human Resources Officer at Equifax. “We are dedicated to building a highly collaborative, innovative environment where our global teams deliver for our customers every day. Inclusion and Diversity is a key element of an energizing workplace where top performers of all backgrounds contribute at their highest level. We are proud of what we have accomplished, know that we still have more to do, and are committed to ongoing transparency along our journey.”
Disclosure of the company’s EEO-1 report and net-zero greenhouse gas emission commitment follow the release of the 2020 Equifax Security Annual Report and are underscored by ongoing investments from the Equifax Foundation to our local communities. Over the last decade, the Equifax Foundation has invested more than $25 million into Non-Governmental Organizations (NGOs) and fintechs to support greater access to credit, credit-building, access to capital, and wealth-building efforts. In 2020, the Equifax Foundation gave over $2.7 million in direct grants and matching gifts to organizations our employees passionately support.
Equifax believes that credit building can be a tool for tackling income inequality and decreasing the racial wealth gap. The company’s solutions address complex social challenges, helping to accelerate access to credit and drive financial inclusion around the world. For more information on the difference we make and our commitment to ESG practices, please visit: Equifax.com.
Source: Equifax Press Release