Matterport's Latest ESG Report Sets New Targets for Reducing Carbon Emissions and Moving to Renewable Packaging

SUNNYVALE, Calif., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR) has released its third Environmental, Social, and Governance Report which, for the first time, sets ambitious targets for the company’s top ESG priorities, including reducing emissions and fostering gender equality in the workplace.

In addition to these new commitments, the new report also showcases the company’s success helping its more than one million subscribers reduce their own carbon emissions by using Matterport’s digital twins to reduce travel to the more than 12 million spaces across 178 countries that have been digitized on the Matterport digital twin platform.

With respect to Matterport’s own goals, the new ESG report establishes the company’s commitment to:

• Reaching net-zero emissions by 2050;
• Transitioning to recyclable / renewable packaging for all Pro3 cameras by 2025
• Reducing Scope 1 and Scope 2 GHG emissions by 20 percent by 2030;
• Achieving gender parity among all full-time employees by 2030.

“These targets reflect our ongoing commitment to reduce our environmental impact, drive systemic change and make the world a better place for future generations,” said Matterport Chairman and CEO RJ Pittman. “With our innovative digital twin platform and products, we empower people across the world to work in smarter ways that put less strain on the planet,” Pittman added. “We are committed to leading by example. This report illustrates how our strategy translates ESG commitments into action and ensures we hold ourselves accountable for achieving even greater impact."

Based on 2023 data, the new report highlights how Matterport’s digital twins continue to cut customers’ carbon footprints by minimizing or eliminating travel to real estate open houses, construction sites, retail locations, and manufacturing facilities. Since tracking began in 2022, each Matterport digital twin creator avoids an estimated average of 0.55 tCO2e (tonnes of carbon dioxide equivalent) per year. On a life-cycle basis, each digital twin can prevent roughly 0.15 tCO2e emissions, equivalent to driving a personal car for about 451 miles.

Matterport recently partnered with an outside carbon accounting firm to develop and launch avoided emissions reporting, which provides select enterprise-level customers with detailed insights into carbon emissions savings enabled by the use of Matterport’s platform. These reports are uniquely tailored to each customer and their facilities, quantifying emissions avoided by opting for virtual experiences and digital assessments over onsite tasks like property tours, inspections, progress monitoring, and change management. They consider factors such as the number of digital spaces created, geographic location, and the reduction in total on-site visits.

These groundbreaking carbon emissions avoidance reports, powered by our digital twin platform, will be more widely available to customers in 2025 as we scale up the service. To learn more about our carbon reporting tool, and all of our environmental, social, and governance priorities, see Matterport’s full ESG report at: https://matterport.com/esg

About Matterport
Matterport, 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 at matterport.com/discover.

Forward-Looking Statements

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