RATING
Negative
SECTOR
Short Term Accommodation Activities
Chief Sustainability Officer
Ameet Konkar
Contact Details:
LinkedIn
Stock Exchange and Ticker
NASDAQ: ABNB
Website
Contact
T: +1 855-424-7262
E.mail: N/A
Listing
- #132 America’s Best Midsize Employers (2023)
- #234 World’s Top Female-Friendly Companies (2022)
- #410 World’s Best Employers (2022)
- #1419 Global 2000 (2022)
Awards
- ‘Best Places to Work’ for LGTB+ people in the Human Rights Campaign Foundation’s Corporate Equality Index 2022 (gained the top score, 100/100)
- Universum’s World’s Most Attractive Employers ranking in the Business category for the first time
Revenue
$8.4B
Market Capitalisation
$79.38B
Employees
6,132
Content source
Airbnb Sustainability Report
Evaluation of Airbnb
Besides a brief annual reporting Airbnb does not address sustainability accordingly. It claimed to annually measure and publish its carbon and greenhouse gas footprint, but no report of such can be found. The company seems to be more in the development and expansion of sustainable strategy, rather than its implementation and reporting on results. The company has been subjected to ethical dilemmas, addressing the company directly or its consumers. Unfortunately, Airbnb does not address these issues. In its reporting we can find a claim that women Hosts, who make up a majority of Airbnb’s global Host community, have earned more than $70 billion. At first, this may sound great, but reality proves more dire. According to The Conversation article “Female Airbnb hosts earn thousands less per year than male hosts” female Airbnb hosts in the United States earn on average about 25% less per year than their male counterparts.
For the reasons provided above Airbnb cannot be rated higher than D, with a Negative Oulook.
Sustainability Scorecard
Airbnb Company Activity
Airbnb (ABNB) was co-founded in 2007 by Joe Gebbia, Brian Chesky, and Nathan Blecharczyk as an online marketplace that connects people who want to rent out their homes with people who are looking for accommodations in specific locales. One can opt to rent an airbnb instead of a hotel. Guests often find Airbnb is cheaper, has more character, and is homier than hotels. Airbnb has listings all over the map, from Savannah, Georgia, to Honolulu, Hawaii, to international listings. The service currently has more than 5.6 million listings in roughly 220 countries around the world. Airbnb’s source of revenue comes from booking fees. According to the company’s website, most guest service fees are under 14.2% of the booking subtotal. Hosts, meanwhile, are charged 3% or more of the total amount earned for each booking.
Airbnb Sustainability Activity - As per company declarations
Airbnb provides an annual sustainability report in which it addresses important matters such as: diversity and inclusion, supporting employees and communities and provides information on safety and cybersecurity regulations, governance and ethics. In the part addressing environmental sustainability Airbnb has made few commitments and listed achievements towards these goals.
Certificate & Labels, Standards and Frameworks
Sustainability Accounting Standards Board (SASB)
Airbnb in the news: Press Reviews and Social Media
The carbon footprint of Airbnb is likely bigger than you think
Many consumers believe airbnb to be a more sustainable option than other forms of accommodation. Airbnb reinforces this view, saying “home sharing promotes more efficient use of existing resources and is a more environmentally sustainable way to travel”. A study published in the “Journal of Sustainable Tourisme” proves otherwise. A study focused on the Sydney Airbnb market showed that hosts generate direct and indirect carbon emissions of between 7.27 and 9.39 kilograms of carbon dioxide equivalent (CO₂e) per room and night – about the same as an economy hotel. Some factors like “induced carbon emissions” were not included. The average carbon footprint for an Airbnb room may reach 44-46kg CO₂e per room and night.
Airbnb with the backing of the United Nations Educational, Scientific and Cultural Organization (UNESCO) will contribute to the reactivation of tourism in a responsible and sustainable way in Mexico and will expand the benefits of cultural and creative tourism to more communities, bt promoting destinations and experiences outside the traditional tourist circuit.
Female Airbnb hosts earn thousands less per year than male hosts
Female Airbnb hosts in the United States earn on average about 25% less per year than their male counterparts for their rentals according to U.S. Census Bureau.
Airbnb ethical issues consumers may face unknowingly: Issues You Didn’t Know
Highlights from Airbnb Sustainability Report
Achievements
There are no significant achievements
Weaknesses and Setbacks
There are no significant weaknesses or setbacks
Targets vs Progress Reported
| Target | Results reported |
|---|---|
| Reach 20% of US employees to identify as underrepresented minorities | - 13.3% underrepresented minority (8.5% technical, 15.2% leadership) |
| Reach 50% of global employees to identify in the gender binary are be women | - 47.2% women in the binary (27.5% technical, 41.6% leadership) |
| Reach 20% businesses in the US from diverse suppliers by 2025 | - In 2020, Airbnb exceeded the goal of 10% US addressable spend with diverse suppliers |
| Committed to Net Zero company by 2030:
- Reduce carbon and other GHG emissions associated with global corporate operations - Invest in quality nature based solutions to offset residual emissions |
Partners with Lowering Emissions by Accelerating Forest finance (LEAF) Coalition No reporting on greenhouse gas emissions could be found |
