Zillow Group, Inc. (“Zillow®”), which is transforming the way people buy, sell, rent and finance homes, today announced that the Science Based Targets initiative (SBTi) has validated Zillow’s near-term science-based targets for reducing greenhouse gas (GHG) emissions. This validation marks a significant milestone in the company’s ongoing efforts to support sustainability and climate action, in line with the Paris Agreement’s global goal to limit warming to 1.5 degrees Celsius.
Zillow’s validated targets are:
- To reduce Zillow’s absolute scopes 1 and 2 GHG emissions 94% by 2030 from a 2019 base year.
- For 75% of Zillow’s suppliers, by emissions covering procured goods and services, capital goods and business travel, to have science-based targets by 2028.
“Across the U.S., climate impacts, including increasingly frequent and severe weather-related disasters, make an already constrained market more challenging,” said Aldona Clottey, vice president of Corporate Social Responsibility. “By setting and pursuing these science-based targets, we are demonstrating our support for sustainability, leading by example in the residential real estate industry, and further pursuing Zillow’s mission to help more people get home.”
To meet the SBTi-validated targets, Zillow expects to focus on the following:
- Supplier Code of Conduct: Zillow’s Supplier Code of Conduct has been updated to encourage and support our suppliers in setting their own science-based targets.
- Supplier engagement: Zillow is actively engaging with key suppliers and internal stakeholders in the procurement process to build awareness and encourage suppliers to set and achieve their own science-based targets.
- Renewable energy: Zillow is purchasing renewable energy credits equivalent to approximately 100% of our North America corporate real estate and estimated work-from-home electricity consumption.
For more information about Zillow’s work on climate and other sustainability priorities, read our Sustainability Report 2023.
Forward-looking statements:
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties, including, without limitation, statements regarding Zillow’s sustainability commitments and practices. Zillow’s actual results, including the development, implementation or continuation of any goals, policies or initiatives discussed in connection with Zillow’s sustainability strategy, may differ materially from those anticipated in these forward-looking statements due to actions taken by Zillow as well as from risks and uncertainties beyond Zillow’s control. These risks and uncertainties include the risk that we may fail to achieve our emissions targets or other sustainability plans and goals. Please review the “Risk Factors” described in Zillow’s publicly available filings with the Securities and Exchange Commission for additional information about potential factors that may impact Zillow’s actual results. Except as may be required by law, Zillow does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
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