Matterport's Annual ESG Report Highlights the Importance of its Digital Twin Technology in Reducing Carbon Footprint
December 11 2023 - 9:02AM
Matterport, Inc. (Nasdaq: MTTR), today released the company’s
second Environmental, Social, and Governance (ESG) report assessing
the impact of Matterport’s products and programs toward driving
sustainable and equitable outcomes. The report, based on 2022 data,
builds on the company’s inaugural report last year as the company
further establishes company-wide ESG goals and commitments.
In its second year of reporting the impact of Matterport’s
digital twins on reducing carbon footprint, the findings continue
to demonstrate Matterport’s technology is a highly effective
alternative to completing tasks that historically required travel.
The ability to interact and work within spaces such as construction
sites, manufacturing facilities, or simply tour a home without
having to physically travel to the location has enabled people
globally to work smarter and more sustainably, reducing the need
for business travel and easing the strain on the environment. This
has helped Matterport’s customers avoid an estimated 756,952 tonnes
of carbon emissions since the company began tracking the measure in
2021.
“We have made excellent progress on our agenda to deliver
measurable sustainability benefits to our customers while improving
our own operating efficiency through strong governance and
execution ,” said RJ Pittman, Chairman and CEO, Matterport.
“Matterport’s Digital Twin Platform has become a critical lever for
our customers and their properties to operate more sustainably and
efficiently from anywhere in the world, and our next generation of
intelligent digital twins will further amplify the sustainable
impact of our platform.”
The company has continued to embrace its remote first workplace
model to create a flexible work environment while reducing its
physical footprint and increasing productivity. This has led to
steady reductions in direct emissions, and a shift in the company’s
supply chain management, including improving the recyclability and
reusability of its cameras components. The company’s total
greenhouse gas emissions increased 37% to 11,669 tonnes as a result
of increased Scope 3 emissions, which are primarily accounted for
on a spend-basis, with increases to outside services like
advertising and consulting contributing to the overall
increase.
Matterport reported several updates to its Social track across
Diversity, Equity and Inclusion (DEI), Employee Engagement, and
Health, Benefits and Wellness, with highlights including results
from the company’s first survey tracking employee sentiment of
inclusion and belonging, as well as the first companywide week
dedicated to community service, Matterport Cares.
Additional highlights from the report included:
- Carbon Emissions
Avoided: Over 2.5 million Matterport digital twins were
created in 2022, helping Matterport customers avoid an estimated
382,640 tonnes of carbon emissions– totaling 756,952 tonnes since
the company began tracking the measure in 2021.
- Enterprise Carbon Calculator: In 2022, the
company began working with an outside carbon accounting firm to
develop an emissions calculator for enterprise customers, providing
a personalized view of each customer’s aggregate digital twin usage
to determine cost, time and emissions savings using the Matterport
Digital Twin Platform. The calculator is expected to be available
in beta for Tier-1 enterprise customers by Q1 2024.
- Supply Chain Improvements: In 2022, Matterport
reassessed and changed its supply chain for the Pro3 camera and its
manufacturing process. Previously assembled at the company’s
headquarters from more than 100 components manufactured and shipped
in by multiple suppliers, the modularized Pro3 camera is now
manufactured by an experienced global partner, with key critical
components created in the same region to minimize our logistics
carbon footprint.
- 100% Electronic Waste
Recycled: In 2022, 100% of Matterport’s electronic waste
was sent to a certified specialist recycling firm.
- Significantly Reduced Product Footprint:
Roughly 99% of Matterport’s camera components are recoverable and
reusable, while the remaining 1% that is unrecoverable is
responsibly recycled. Total emissions from the Pro3 are 46% less
carbon intensive than the Pro2, on a per camera basis. This is due
to several factors including the Pro3 weighing less than the Pro2
and our updated supply chain that minimizes the distance between
component manufacturing and camera assembly.
- Business Leadership: In 2022, Matterport
received Comparably awards in seven categories, which are provided
annually to companies recognized by their employees as having a
strong company culture. Awards included: Best Company Compensation,
Happiest Employees, Best Career Growth, Best CEOs for Diversity,
Best CEOs for Women, Best Places to Work in the Bay Area and Best
Company Outlook.
To read Matterport’s full ESG report, visit:
https://matterport.com/esg
About MatterportMatterport, 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.
©2023 Matterport, Inc. All rights reserved. Matterport is a
registered trademark and the Matterport logo is a trademark of
Matterport, Inc. All other marks are the property of their
respective
owners.
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