Despegar Publishes 2023 ESG Report

Rhea-AI Summary

Despegar, Latin America's leading travel technology company, published its 2023 ESG report, showcasing significant progress in environmental, social, and governance areas. By migrating to Amazon's AWS cloud, Despegar aims to reduce its computing carbon footprint by 80% starting in 2025. The company is enhancing its sustainable travel options and increasing investments in community programs that support local economies and promote community-beneficial tourism. For employee welfare, new policies include flexible work arrangements and expanded health programs. Governance improvements focus on transparency and accountability, with new compliance measures and stakeholder engagement initiatives. The full report is available at their investor site.

Positive

• Despegar aims to reduce its computing carbon footprint by 80% starting in 2025 through AWS cloud migration.
• Enhanced sustainable travel options in the portfolio.
• Increased investment in community programs supporting local economies.
• New policies for employee welfare, including flexible work arrangements and expanded health programs.
• Strengthened governance framework, including new compliance measures and enhanced stakeholder engagement.

Negative

• None.

BRITISH VIRGIN ISLANDS--(BUSINESS WIRE)-- Despegar.com, Corp. (NYSE: DESP) (“Despegar” or the “Company”), Latin America’s leading travel technology company, today announced the publication of its 2023 Environmental, Social, and Governance (ESG) report. This comprehensive report applies a double materiality approach, incorporating GRI 2021 Standards, which prioritize an impact perspective, and SASB Standards, which account for financial materiality.

The 2023 ESG report details the significant strides Despegar has made over the past year in various key areas, among them:

Environmental Initiatives

• Carbon Footprint: Despegar has initiated a server virtualization project by migrating to Amazon’s cloud (AWS), which will enable the Company to reduce its computing carbon footprint by up to 80%, beginning in 2025.
• Sustainable Travel: The company continuously improves its portfolio of sustainable travel offerings, providing customers with options to minimize their environmental impact.

Social Responsibility

• Community Engagement: Despegar has increased its investment in community programs that supports local economies and promotes tourism that benefits local communities.
• Employee Welfare: The Company has implemented several new policies aimed at enhancing employee well-being, including flexible work arrangements and expanded health and wellness programs.

Governance Enhancements

• Transparency and Accountability: Despegar has strengthened its governance framework to ensure greater transparency and accountability, including the implementation of new compliance measures and enhanced stakeholder engagement.

The 2023 ESG report is available for download at www.investor.despegar.com/governance/esg, offering detailed insights into Despegar’s most recent achievements and its future commitments in the areas of sustainability and social responsibility.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We base these forward-looking statements on our current beliefs, expectations and projections about future events and trends affecting our business and our market. Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements. Forward-looking statements are not guarantees of future performance. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or to revise any forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. The words “believe,” “may,” “should,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “will,” “expect” and similar words are intended to identify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, capital expenditures, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. Considering these limitations, you should not make any investment decision in reliance on forward-looking statements contained in this press release.

About Despegar.com

Despegar is the leading travel technology company in Latin America. For over two decades, it has revolutionized the tourism industry in the region through technology. With its continuous commitment to the development of the sector, Despegar today is comprised of a consolidated group that includes Despegar, Decolar, Best Day, Viajes Falabella, Viajanet Stays and Koin, and has become one of the largest travel companies in Latin America.

Despegar operates in 19 countries in the region, accompanying Latin Americans from the moment they dream of traveling until they share their memories. With the purpose of improving people's lives and transforming the shopping experience, Despegar has developed alternative payment and financing methods, democratizing the access to consumption and bringing Latin Americans closer to their next travel experience. Despegar’s common shares are traded on the New York Stock Exchange (NYSE: DESP). For more information, visit Despegar’s Investor Relations website https://investor.despegar.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240620338887/en/

IR Contact

Luca Pfeifer Investor Relations

Phone: (+1) 305 481 1785

E-mail: luca.pfeifer@despegar.com

Source: Despegar.com, Corp.

FAQ

What is Despegar's goal for reducing its carbon footprint?

Despegar aims to reduce its computing carbon footprint by up to 80% starting in 2025 through AWS cloud migration.

What sustainable initiatives has Despegar introduced?

Despegar has improved its portfolio of sustainable travel offerings to minimize environmental impact.

How is Despegar supporting local communities?

Despegar increased investments in community programs that support local economies and promote tourism that benefits local communities.

What new policies has Despegar implemented for employee welfare?

Despegar has implemented flexible work arrangements and expanded health and wellness programs for employee welfare.

How is Despegar improving its governance framework?

Despegar has strengthened its governance framework by implementing new compliance measures and enhancing stakeholder engagement.