DoubleVerify Publishes 2nd Annual Impact Report, Underscoring Commitment to Responsible Business Practices that Enhance Stakeholder Results

Rhea-AI Summary

DoubleVerify (NYSE: DV) has released its 2024 Impact Report, highlighting significant progress in environmental sustainability, workforce diversity, data privacy, and ethical business practices. Key achievements include planting over 10,000 trees, projecting to sequester 5,670 metric tons of CO2 over 40 years, and having 74% of office space running on renewable energy. The company introduced the DVersity program to support diverse publishers and established new employee resource groups. DV maintained a diverse Board with over 50% identifying as women or underrepresented communities. In 2024, DV became the first recipient of TrustArc's TRUSTe Responsible AI Certification, demonstrating commitment to AI governance.

Positive

• Planted over 10,000 trees, projected to sequester 5,670 metric tons of CO2 over 40 years
• 74% of office square footage runs on renewable energy
• Introduced DVersity program to support diverse publishers
• Maintained a Board with over 50% identifying as women or underrepresented communities
• First recipient of TrustArc's TRUSTe Responsible AI Certification

Negative

• None.

Insights

Market Research Analyst

DoubleVerify's 2024 Impact Report showcases commendable progress in ESG initiatives, but its direct impact on stock performance is likely minimal. While these efforts may enhance brand reputation and stakeholder relations, they don't immediately translate to financial gains. The report's focus on environmental sustainability, workforce diversity and ethical practices aligns with growing investor interest in responsible business practices. However, the lack of specific financial metrics or business performance data makes it challenging to quantify the report's impact on shareholder value. Investors should view this as a long-term strategy for risk mitigation and sustainable growth rather than a short-term stock price driver.

Tech Expert

DoubleVerify's commitment to responsible AI, evidenced by their TrustArc's TRUSTe Responsible AI Certification, is a notable achievement in the ad tech industry. This certification could provide a competitive edge in a market increasingly concerned with ethical AI use. The company's goal to reach 100% renewable energy for cloud usage by 2030 demonstrates foresight in managing operational costs and environmental impact. These initiatives, while not directly impacting immediate financial performance, position DoubleVerify as a forward-thinking leader in the digital advertising space. Investors should consider these efforts as potential long-term value creators, particularly in attracting environmentally conscious clients and talent.

The report reveals significant progress in environmental sustainability, workforce diversity, data privacy, and ethical business practices that align with customer expectations.

NEW YORK--(BUSINESS WIRE)-- DoubleVerify ("DV") (NYSE: DV), the leading software platform for digital media measurement, data and analytics, today published its 2024 Impact Report, outlining the company's dedication to environmental sustainability, diversity, data privacy, and ethical business practices.

"We are excited to share our latest Impact Report, which underscores DV’s unwavering commitment to sustainability, diversity, and ethical business practices that benefit all of our stakeholders and underpin continued business performance,” said Mark Zagorski, CEO of DoubleVerify. “We see responsible conduct not only as the right choice, but also the cornerstone of a sound business strategy. Our achievements are a testament to this philosophy and we are proud to show progress in reducing our environmental footprint, enhancing data privacy and positively impacting our customers, shareholders, and employees. We remain steadfast in our mission to drive meaningful change within the digital advertising sector and beyond.”

Key achievements from the report and from 2023 include:

• Environmental Sustainability
  • Planted over 10,000 trees, projected to sequester 5,670 metric tons of CO2 over the next 40 years – equivalent to removing 1,232 cars from the road for one year.
  • In 2023, more than 50% of DV’s cloud usage was based on renewable energy, with a goal of reaching 100% by 2030.
  • 74% of DV’s office square footage runs on renewable energy across the New York, London, Helsinki, Sydney, Chicago and Ghent offices.

• Social Impact
  • Introduced the DVersity program, "Empowering Diverse Voices through Responsible Advertising Strategies," aimed at helping diverse publishers maximize inventory value and promoting equity in the digital ecosystem.
  • DV provides all employees with access to a mental health platform for easy access to mental health care as needed and offers four personal mental health days a year.
  • Established new employee resource groups, including three regional chapters of Women@DV and two regional chapters of Sustainability@DV, as well as hosted DV’s first focus group for employees with disabilities and caregivers of persons with disabilities.

• Workforce Diversity Leadership
  • Maintained a Board with a majority of independent directors, over 50% of whom identify as women or members of underrepresented communities.

• Governance
  • Conducted inaugural Double Materiality Assessment (DMA), identifying and prioritizing six ESG issues vital to both a company's operations and stakeholders, encompassing financial, societal, and environmental impacts.
  • In 2024, DV became the first recipient of TrustArc’s TRUSTe Responsible AI Certification, demonstrating an industry-leading commitment to AI governance.

“We are proud of the progress we've made and recognize that there is much more to achieve,” added Zagorski. “There are many exciting opportunities ahead and we look forward to realizing the positive impact of our continued efforts.”

For the company’s full Impact Report, visit www.doubleverify.com/impact.

About DoubleVerify

DoubleVerify (“DV”) (NYSE: DV) is the industry’s leading media effectiveness platform that leverages AI to drive superior outcomes for global brands. By creating more effective, transparent ad transactions, DV strengthens the digital advertising ecosystem, ensuring a fair value exchange between buyers and sellers of digital media.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240910653014/en/

Media:

Chris Harihar

chris.harihar@modop.com

Source: DoubleVerify

FAQ

What environmental sustainability goals has DoubleVerify (DV) achieved in 2023?

In 2023, DoubleVerify planted over 10,000 trees, projected to sequester 5,670 metric tons of CO2 over 40 years. Additionally, more than 50% of DV's cloud usage was based on renewable energy, with a goal of reaching 100% by 2030. 74% of DV's office square footage runs on renewable energy across several major offices.

How is DoubleVerify (DV) promoting diversity and inclusion in the workplace?

DoubleVerify has introduced the DVersity program to help diverse publishers maximize inventory value. The company has also established new employee resource groups, including Women@DV and Sustainability@DV chapters. DV maintains a Board with a majority of independent directors, over 50% of whom identify as women or members of underrepresented communities.

What recognition has DoubleVerify (DV) received for its AI governance in 2024?

In 2024, DoubleVerify became the first recipient of TrustArc's TRUSTe Responsible AI Certification, demonstrating an industry-leading commitment to AI governance.

What mental health support does DoubleVerify (DV) offer its employees?

DoubleVerify provides all employees with access to a mental health platform for easy access to mental health care as needed. Additionally, the company offers four personal mental health days a year to its employees.