Matterport, Inc. (Nasdaq: MTTR) has released its third
Environmental, Social, and Governance Report which, for the first
time, sets ambitious targets for the company’s top ESG priorities,
including reducing emissions and fostering gender equality in the
workplace.
In addition to these new commitments,
the new report also showcases the company’s success helping its
more than one million subscribers reduce their own carbon emissions
by using Matterport’s digital twins to reduce travel to the more
than 12 million spaces across 178 countries that have been
digitized on the Matterport digital twin platform.
With respect to Matterport’s own
goals, the new ESG report establishes the company’s commitment
to:
- Reaching net-zero emissions by 2050;
- Transitioning to recyclable / renewable packaging for
all Pro3 cameras by 2025
- Reducing Scope 1 and Scope 2 GHG emissions by 20
percent by 2030;
- Achieving gender parity among all full-time employees
by 2030.
“These targets reflect our ongoing
commitment to reduce our environmental impact, drive systemic
change and make the world a better place for future generations,”
said Matterport Chairman and CEO RJ Pittman. “With our innovative
digital twin platform and products, we empower people across the
world to work in smarter ways that put less strain on the planet,”
Pittman added. “We are committed to leading by example. This report
illustrates how our strategy translates ESG commitments into action
and ensures we hold ourselves accountable for achieving even
greater impact."
Based on 2023 data, the new report
highlights how Matterport’s digital twins continue to cut
customers’ carbon footprints by minimizing or eliminating travel to
real estate open houses, construction sites, retail locations, and
manufacturing facilities. Since tracking began in 2022, each
Matterport digital twin creator avoids an estimated average of 0.55
tCO2e (tonnes of carbon dioxide equivalent) per year. On a
life-cycle basis, each digital twin can prevent roughly 0.15 tCO2e
emissions, equivalent to driving a personal car for about 451
miles.
Matterport recently partnered with an
outside carbon accounting firm to develop and launch avoided
emissions reporting, which provides select enterprise-level
customers with detailed insights into carbon emissions savings
enabled by the use of Matterport’s platform. These reports are
uniquely tailored to each customer and their facilities,
quantifying emissions avoided by opting for virtual experiences and
digital assessments over onsite tasks like property tours,
inspections, progress monitoring, and change management. They
consider factors such as the number of digital spaces created,
geographic location, and the reduction in total on-site visits.
These groundbreaking carbon emissions
avoidance reports, powered by our digital twin platform, will be
more widely available to customers in 2025 as we scale up the
service. To learn more about our carbon reporting tool, and
all of our environmental, social, and governance priorities, see
Matterport’s full ESG report
at: https://matterport.com/esg
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital
transformation of the built world. Our groundbreaking digital twin
platform turns buildings into data to make every space more
valuable and accessible. Millions of buildings in more than 177
countries have been transformed into immersive Matterport digital
twins to improve every part of the building lifecycle from
planning, construction, and operations to documentation, appraisal
and marketing. Learn more at matterport.com and browse a gallery of
digital twins at matterport.com/discover.
Forward-Looking Statements
This communication contains certain
forward-looking statements within the meaning of the federal
securities laws, including statements regarding the proposed
transaction, the products and services offered by Matterport and
the markets in which Matterport operates, business strategies, debt
levels, industry environment including the global supply chain,
potential growth opportunities, and the effects of regulations and
Matterport’s projected future results. These forward-looking
statements generally are identified by the words “believe,”
“project,” “expect,” “anticipate,” “estimate,” “intend,” “target,”
“strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result,” and similar expressions (including the negative versions
of such words or expressions).
Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this communication, including the inability to
consummate the proposed transaction with CoStar Group, Inc. (the
“proposed transaction”) within the anticipated time period, or at
all, due to any reason, including the failure to obtain required
regulatory approvals, including as a result of an inability to
comply promptly with the second request or to satisfy the other
conditions to the consummation of the proposed transaction; the
risk that the proposed transaction disrupts Matterport’s current
plans and operations or diverts management’s attention from its
ongoing business; the effects of the proposed transaction on
Matterport’s business, operating results, and ability to retain and
hire key personnel and maintain relationships with customers,
suppliers and others with whom Matterport does business; the risk
that Matterport’s stock price may decline significantly if the
proposed transaction is not consummated; the nature, cost and
outcome of any legal proceedings related to the proposed
transaction; Matterport’s ability to grow market share in existing
markets or any new markets Matterport may enter; Matterport’s
ability to respond to general economic conditions; supply chain
disruptions; Matterport’s ability to manage growth effectively;
Matterport’s success in retaining or recruiting officers, key
employees or directors, or changes required in the retention or
recruitment of officers, key employees or directors; the impact of
restructuring plans; the impact of the regulatory environment and
complexities with compliance related to such environment; factors
relating to Matterport’s business, operations and financial
performance, including the impact of infectious diseases, health
epidemics and pandemics; Matterport’s ability to maintain an
effective system of internal controls over financial reporting;
Matterport’s ability to achieve and maintain profitability in the
future; Matterport’s ability to access sources of capital;
Matterport’s ability to maintain and enhance Matterport’s products
and brand, and to attract customers; Matterport’s ability to
manage, develop and refine Matterport’s technology platform; the
success of Matterport’s strategic relationships with third parties;
Matterport’s history of losses and whether Matterport will continue
to incur continuing losses for the foreseeable future; Matterport’s
ability to protect and enforce Matterport’s intellectual property
rights; Matterport’s success in defending or appealing any pending
or future litigation, claims or demands; Matterport’s ability to
implement business plans, forecasts, and other expectations and
identify and realize additional opportunities; Matterport’s ability
to attract and retain new subscribers; the size of the total
addressable market for Matterport’s products and services; the
continued adoption of spatial data; any inability to complete
acquisitions and integrate acquired businesses; general economic
uncertainty and the effect of general economic conditions in
Matterport’s industry; environmental uncertainties and risks
related to adverse weather conditions and natural disasters; the
volatility of the market price and liquidity of Matterport’s Class
A common stock and other securities; the increasingly competitive
environment in which Matterport operates; and other factors
detailed under the section entitled “Risk Factors” in Matterport’s
Annual Report on Form 10-K and subsequently filed Quarterly Reports
on Form 10-Q. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in documents filed by Matterport from
time to time with the SEC. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Matterport
assumes no obligation and, except as required by law, does not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. Matterport does not give any assurance that it will
achieve its expectations.
Media Contact:press@matterport.com
Investor Contact:ir@matterport.com
Matterport (NASDAQ:MTTR)
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Matterport (NASDAQ:MTTR)
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