Yahoo Finance Wayfair Releases Third-Annual Corporate Responsibility Report, Sets Ambitious Zero Waste Target
BOSTON, June 12, 2024 /PRNewswire/ -- Wayfair Inc. (NYSE:W), the destination for all things home, today released its third-annual Corporate Responsibility Report, showcasing the company's progress and initiatives across sustainability, social impact, and diversity, equity and inclusion in 2023. This year's report, titled "Bringing Impact Home," marks the second consecutive year Wayfair has referenced the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) frameworks, reaffirming the company's commitment to data-driven decision-making.
Alongside its Corporate Responsibility Report, Wayfair is proud to announce its commitment to achieving zero waste across its global operations by 2030. This ambitious target aims to divert over 90 percent of Wayfair's operational waste from landfills and incineration. Along with the company's goal of reducing Scope 1 and 2 emissions by 63 percent by 2035, the zero waste initiative highlights Wayfair's dedication to driving climate action and more effectively reusing, recycling and reducing waste.
"I'm proud to be sharing this year's Corporate Responsibility Report, which highlights the important progress we've made towards our ongoing support of our communities, our people and our planet," said Kate Gulliver, Chief Financial Officer and Chief Administrative Officer at Wayfair. "While this report is a retrospective of our impact and progress over the past year, we know that this work is never truly done. Looking ahead, we remain committed to investing our time and resources in these crucial areas, and I'm thrilled to be adding our zero waste goal as a key commitment."
Key Report Highlights:
Established the Wayfair Neighborhood Fund with a founding donation of $1 million, which directs grants to organizations supporting people experiencing homelessness and ensuring our local neighborhoods thrive.
Wayfair volunteers supported 25 Habitat for Humanity builds, helping to create new homes for those in need.
Doubled both the number of, and the business from, Black-owned suppliers on the Wayfair platform through our Celebrate Black Makers program in 2023.
4,000 Wayfairians participated in Employee Resource Groups or Affinity Groups, celebrating their shared cultures and experiences.
Doubled the number of third-party certified products in Wayfair's Shop Sustainability program to over 33,000 items.
66.5 percent of Wayfair's electricity consumption in North America will be covered by contracted energy offtake from its participation in the Liberty Solar virtual power purchase agreement (VPPA).
To learn more about Wayfair's zero waste by 2030 goal and corporate responsibility performance, read the full report here.
About Wayfair
Wayfair is the destination for all things home, in one inspiring place. With quality finds for every style and budget, and a convenient experience from inspiration to installation, Wayfair empowers everyone, everywhere to create a space that is just right for them.
The Wayfair family of brands includes:
Wayfair: Every style. Every home.
AllModern: All of modern, made simple.
Birch Lane: Classic style for joyful living.
Joss & Main: The ultimate style edit for home.
Perigold: The destination for luxury home.
Wayfair Professional: A one-stop Pro shop.
Wayfair generated $12.0 billion in net revenue for the year ended December 31, 2023 and is headquartered in Boston, Massachusetts with global operations.
Wayfair Media Relations:
Tara Lambropoulos
PR@wayfair.com
Wayfair Investor Relations:
James Lamb
IR@wayfair.com
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SOURCE Wayfair Inc.
