Chief Sustainability Officer
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#1622 Global 2000 (2022)
- Dow Jones Sustainability Indice (DJSI)
- Sustainalytics – ESG Risk Rating – Medium Risk
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Snapchat Sustainability Report
Evaluation of Snapchat
Overall, Spanchat’s sustainability activity is satisfactory, but there is still a lot to work on. We were glad to see a detailed carbon emissions breakdown, explaining how much carbon footprint comes from different sources and where it went down. The carbon neutrality goals set by Snapchat are consistent with the science-based reduction targets, and they have succeeded in achieving 100% renewable electricity. By pledging to achieve Net Zero and then go beyond Net Zero to make Snap net negative by 2030, they are significantly advancing that strategy.
The certificates they received attested to the success of their work toward fulfilling this commitment. They were not almost involved in any scandal, according to third-party sources as well. Overall, they are making good progress toward being fully sustainable and are in the transitional phase, but we would advise implementing more targets and addressing waste and water reduction and recycling.
Snapchat Company Activity
Snap, Inc. engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application. The company’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C. Murphy in 2010 and is headquartered in Santa Monica, CA.
Snapchat Sustainability Activity - As per company declarations
At Snap, their mission is to contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together.
Even as Snap grows and faces new opportunities and challenges, they remain grounded in kindness. Their engineers, designers, product managers, and other team members build their products and services to serve people. The well-being of the community informs their decision making, which in turn creates more value for their business over the long term. Just as they encourage their users to embrace authentic self expression in our products, Snap embraces honesty and transparency in their environmental, social, and governance (ESG) reporting.
Certificate & Labels, Standards and Frameworks
- The Task Force on Climate-Related Financial Disclosure (TCFD)
- Science Based Target Initiatives (SBTi)
- The Sustainability Accounting Standards Board (SASB)
- Renewable Energy Certificates (RECs)
- Energy attribute certificates (EACs)
Snapchat in the news: Press Reviews and Social Media
On Snapchat’s future plans, the most recent CitizenSnap report has been made public. The company has discussed how important environmental, social, and governance (ESG) issues are to it and how it plans to address them. Due to the app’s audience’s skew toward younger users, these initiatives are essential for the app. They will support civic engagement and societal awareness while supplying these audiences with more information on important focus topics. As was already mentioned, environmental initiatives are also a focus in this regard.
Snap Inc., the company that owns Snapchat, recently unveiled a climate strategy to cut greenhouse gas emissions. By 2025, Snap wants to cut the number of emissions produced by its business operations by 25%, in part by upgrading the energy efficiency of its buildings and investing in renewable energy. The plan, which Snapchat’s owner explained in its yearly “CitizenSnap” report, comes as tech companies are becoming more involved in climate change discussions. After offsetting emissions going back to its launch, Snap will only buy renewable energy going forward and continue to be carbon neutral. Snap aims to reduce emissions from its business operations by 25% by 2025, in part by increasing the energy efficiency of its buildings and acquiring renewable energy. said Perella.
Additionally, the company wants to cut emissions from purchased goods and services and business travel by 35%. Snap claimed that it came up with the reduction levels after consulting with a coalition that offers business advice on how to cut emissions in order to meet the Paris Agreement’s climate change goals. In order to become retroactively carbon neutral, it also calculated its emissions going back to Snapchat’s launch in 2011 and offset those emissions.
By 2022, Snapchat promises to have net-zero carbon emissions, and through 2030, the company will invest at least $1 million annually in carbon sequestration. Snap has joined more than 200 other companies in pledging to go net zero, report on climate change frequently, eliminate carbon emissions, and use credible offsets.
When comparing median hourly wages, Snap Inc. claimed that it paid women 53% less than men. Among the top tech companies, that is one of the worst numbers. Every U.K. company with more than 250 employees has been required to disclose its pay gap since 2017. When companies were first required to report the data in 2017, the gap was 9.2%.
Highlights from Snapchat Sustainability Report
- Sourced 100% renewable electricity in their workplace
- 50%+ reduction in absolute Scope 1 and 2 emissions
- 40% reduction in intensity-based Scope 3 emissions
- Conducted their first scenario analysis in line with The Taskforce on Climate-Related Financial Disclosures (TCFD) recommendations
- Satisfactory achievements in the social sphere (although the UK gender gap is extremely alarming)
Weaknesses and Setbacks
- Gender pay gap
- Not many targets in general and lack of social ones
Targets vs Progress Reported
|Make their products more energy efficient||- Reduction in total global energy consumption by 17%
- Foreground session power usage reduced by 12% on iOS and 9% on Android
|Committed to achieving Net Negative carbon emissions by 2030||- Reduction in their absolute Scope 1 and 2 emissions by over 50% and its Scope 3 emissions by 40% per unit of revenue|
- Joined 200+ other businesses in signing The Climate Pledge to act on the climate crisis and take actions to reach net-zero carbon emissions by 2040 — 10 years ahead of the Paris Agreement
|Aim to seamlessly preserve the security and privacy of their user data, whilst enabling innovation and growth at Snap||- Rolled out Safety Snapshot, new safety and privacy-focused channel on their Discover Platform
- Joined other online platforms in testifying before the Senate Commerce Committee’s Subcommittee on Consumer Protection, Product Safety, and Data Security about Snap’s approach to protecting young people on their platform