Wed. Jun 7th, 2023

Commitment reinforces CoStar Group’s 2050 net-zero target and builds upon ongoing efforts to lessen emissions across the enterprise

WASHINGTON, Could 26, 2023–(Business enterprise WIRE)–Right now, CoStar Group, a major provider of on line true estate marketplaces, facts and analytics in the house markets, announced that its founder and CEO Andy Florance has signed a commitment letter to set close to-term and extended-term science-primarily based greenhouse gas emission reduction targets in accordance with the Science Primarily based Targets Initiative (SBTi).

SBTi’s science-primarily based reduction targets are aligned with the level of decarbonization essential to meet the targets of the Paris Agreement to attain net-zero international emissions by 2050 to limit international temperature rise to 1.5ºC above pre-industrial levels.

By signing the SBTi commitment letter, CoStar Group expands upon its prior function to track and report its baseline greenhouse gas emissions, such as its Scope 1, Scope two (place and marketplace primarily based) and relevant Scope three emissions, as reported in its 2023 Environmental, Social &amp Governance (ESG) Report. In advance of, and considering the fact that the release of the Company’s 2023 ESG Report, the enterprise has, and will continue to, solicit feedback from its investors on its climate connected function to date and priorities for the future. CoStar Group will now proceed to create clear, science-primarily based targets which will be submitted to and validated by SBTi. SBTi’s system of science-primarily based targets deliver a clear pathway for providers to lessen emissions and mitigate impacts of climate alter, all though future-proofing small business development.

“At CoStar Group we are proud of our commitments to decreasing our environmental influence, and this is one particular of the pillars of our ESG targets,” mentioned Andy Florance, CoStar Group Founder and Chief Executive Officer.

“In the previous year alone, we have offered much more than 30 million one of a kind virtual tours of CoStar properties, resulting in an estimated 130,000 metric tons of CO2e avoided. We measured our baseline greenhouse gas emissions to track our future progress and continued our function towards decarbonizing our workplace buildings and information centers. Signing the SBTi commitment letter is a all-natural subsequent step in our function towards becoming a net zero enterprise.”

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SBTi is a joint initiative of environmental influence tracking organization CDP, the United Nations International Compact, Globe Sources Institute (WRI) and the Worldwide Fund for Nature (WWF). The SBTi defines and promotes most effective practices in science-primarily based target setting, gives sources and guidance to lessen barriers to adoption, and independently assesses and approves companies’ targets. Take a look at for much more facts and to view the commitment letter.

For much more facts about CoStar Group’s ESG Report, check out, and on ESG commitments, check out

About CoStar Group

CoStar Group (NASDAQ: CSGP), is a major provider of on line true estate marketplaces, facts, and analytics in the house markets. Founded in 1987, CoStar conducts expansive, ongoing study to generate and keep the biggest and most complete database of industrial true estate facts. Our suite of on line solutions enables customers to analyze, interpret and obtain unmatched insight on industrial house values, marketplace circumstances and present availabilities. STR offers premium information benchmarking, analytics, and marketplace insights for the international hospitality business. Ten-X offers a major platform for conducting industrial true estate on line auctions and negotiated bids. LoopNet is the most heavily trafficked industrial true estate marketplace on line.,,,, Westside Rentals,,, and kind the premier on line apartment resource for renters searching for wonderful apartment residences and deliver house managers and owners a confirmed platform for advertising their properties. Homesnap is an business-major on line and mobile computer software platform that offers user-friendly applications to optimize residential true estate agent workflow and reinforce the agent-client partnership. is the quickest developing on line residential marketplace that connects agents, purchasers, and sellers. BureauxLocaux is one particular of the biggest specialized house portals for obtaining and leasing industrial true estate in France. Business enterprise Immo is France’s major industrial true estate news service. CoStar Group’s sites attract tens of millions of one of a kind month-to-month guests. Headquartered in Washington, DC, CoStar Group maintains offices all through the U.S., Europe, Canada, and Asia. From time to time, we program to use our corporate site,, as a channel of distribution for material enterprise facts. For much more facts, check out

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Matthew Blocher
CoStar Group
(202) 346-6775

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