RATING
Negative
SECTOR
Web Portals
Chief Sustainability Officer
Edward P Senior Director, Global Sustainability
Contact Details:
LinkedIn
Stock Exchange and Ticker
NASDAQ: META
Website
Contact
T: +00 800 9564 4422
E: N/A
Listing
- #356 America’s Best Large Employers (2023)
- #124 World’s Top Female-Friendly Companies (2022)
- #145 World’s Best Employers (2022)
- #396 Best Employers for Women (2022)
- #34 Global 2000 (2022)
Awards
- Sustainalytics 34.5, High Risk
According to Comparably:
- Based on 42,244 ratings and 3,228 participants, employees at Meta are very satisfied with their work experience
- The overall culture score, 79/100 or A+, incorporates employee ratings based on their feedback on the Professional Development, Compensation, Perks And Benefits and more
- Best Company Perks & Benefits
- Best Company Compensation
- Best Product & Design Team 2021
- Best Engineering Team 2021
- Best Places to Work in the Bay Area 2021
- Best Global Culture 2021
- Best Company Outlook 2021
Revenue
$117B
Market Capitalisation
$367.092B
Employees
71,970
Content source
Meta Platforms Sustainability Report 2021:
https://sustainability.fb.com/wp-content/uploads/2022/06/Meta-2021-Sustainability-Report.pdf
Meta Platforms Annual Report 2021:
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001326801/14039b47-2e2f-4054-9dc5-71bcc7cf01ce.pdf
Forbes
https://www.forbes.com/companies/meta-platforms/?list=global2000&sh=4305523f4a5c
Yahoo Finance:
Meta Sustainability Report
Evaluation of Meta
In our opinion a C rating for Meta Platforms perfectly conveys how invested in sustainability the company is. It has made some conscious efforts, like reaching net-zero operations, investing in carbon removal projects in Kenya and Mexico, or restoring water, but there simply isn’t enough incentive and commitment. Overall GHG emissions have been rising progressively over the years, same as water withdrawal. It can be said that Meta’s targets and actual results are contradictory in some sense. It is also disappointing to see only two general environment-facing targets and a lack of social or governance goals. Lastly, Meta Platforms has been involved in too many ethical controversies spanning PR crises, blockbuster whistleblower revelations and pending regulations. For these reasons Meta receives a C with a Negative Outlook.
Sustainability Scorecard
Meta Company Activity
Meta Platforms, Inc., formerly known as Facebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California. The company owns Facebook, Instagram, and WhatsApp, among other products and services.
Meta’s mission is to give people the power to build community and bring the world closer together. Meta constantly iterates, solves problems and works together to connect people all over the world. The company’s workforce reflects the diversity of the people they serve as they hire people with different backgrounds and points of view to help them make better decisions, build better products and create better experiences for everyone
Meta Sustainability Activity - As per company declarations
Meta Platforms are committed to protecting the well-being of people and the planet. They are committed to bold climate action by minimizing their footprint, championing renewable energy, restoring water resources, engaging their suppliers and supporting climate justice. Meta focuses on the following key areas:
- Climate: The company is committed to reach net zero emissions across their value chain in 2030.
- Energy: Meta plans to accelerate the renewable energy transition.
- Water: Meta is committed to becoming water positive by 2030.
- Responsible Supply Chain: The company works to ensure safe, healthy, and fair working conditions in their supply chain.
- Biodiversity: Meta strives to protect and promote biodiversity by reducing their impact on nearby habitats.
Certificate & Labels, Standards and Frameworks
- Additional LEED Gold certification in 2021 totalled 3 million square feet, 21 offices (Dublin, Seattle, Denver, Chicago, Los Angeles, and multiple cities in the San Francisco Bay Area)
- Sydney, Australia office received Green Star Certification
(6-Star Level) - Fremont, California, campus earned Fitwel Certification (2-Star Level)
- Hong Kong office achieved World Green Organisation’s Green Office & Eco-Healthy Workplace Award
- Dublin and London offices were re-certified under ISO 50001 Energy Management Certification
- FSC
- Health Product Declaration
- Cradle to Cradle certification
- Declare label by International Living Future Institute
- Science Based Targets initiative (SBTi)
- Greenhouse Gas Protocol
- Global Reporting Initiative (GRI)
- Sustainability Accounting Standards Board (SASB)
Meta in the news: Press Reviews and Social Media
Meta may be known not only for being a social media platform, but also for its endless ethical controversies. The company was involved in PR crises, blockbuster whistleblower revelations like the explosion of misinformation around the 2016 US elections, the Cambridge Analytica scandal, Facebook’s role in the persecution of the Rohingya in Myanmar, and most recently the revelations made by Haugen – including the platform’s grave health effects on young people. The overall brand image in the news is overwhelmingly negative and we invite our readers to read the following articles if interested:
‘Every move scrutinized’: Facebook’s rocky road to the metaverse | Meta | The Guardian
Facebook’s very bad year. No, really, it might be the worst yet
Highlights from Meta Sustainability Report
Achievements
- Net-zero operations
- Reduced combined Scope 1 & 2 emissions by 94% from 2017 baseline
- Water restoration reached 2 336 000 cubic meters
Weaknesses and Setbacks
- Scope 3 emissions increased to 5,651,000 metric tons CO2e in 2021 from half a million in 2017; total emissions increased more than 7-fold since 2017)
- Water consumption increased 3 times since 2017
- Only two targets and not much has been done towards them so far
- Vague reporting
Targets vs Progress Reported
| Target | Results reported | Net zero value chain emissions by 2030 - 40% energy use reduction - 50% waste reduction - 100% sustainable employee commuter shuttle fleet - 40% reduction in drive alone commuter trips - 40% reduction in embodied carbon of building materials - 60% reduction in carbon intensity of culinary offerings |
- Achieved net zero global operations in 2020 - In 2021 began engaging suppliers to drive toward net zero value chain goal - 2022 Joined the Frontier Advance Market Commitment to Accelerate Development of Carbon Removal Technologies - Data center buildings completed in 2021 exhibit a Power Usage Effectiveness (PUE) of 1.09 1 |
|---|---|
| Water positive by 2030 | - In 2020 it restored more water than consumed - Meta restored 2.3 million cubic meters of water in 2021, while it consumed 2.6 million cubic meters - Data center buildings completed in 2021 exhibit a Water Usage Effectiveness (WUE) of 0.26 |
