Equifax Furthers Commitment to Environmental, Social and Governance Priorities

Rhea-AI Summary

Equifax (NYSE: EFX) issued its annual ESG letter, highlighting its commitment to Environmental, Social, and Governance (ESG) priorities. The company reported a 13.5% reduction in greenhouse gas emissions from 2019 to 2021 and aims for net-zero emissions by 2040. In workforce diversity, 77% of the leadership team reflects gender, racial, or ethnic diversity. Equifax introduced significant financial inclusion initiatives, including the first Spanish-language credit report. The updates showcase Equifax's focus on security, diversity, environmental sustainability, and economic inclusion.

Positive

• Significant reduction in greenhouse gas emissions by 13.5% from 2019 to 2021.
• Aims for net-zero emissions by 2040, enhancing sustainability strategy.
• 77% of senior leadership team reflects gender and ethnic diversity, promoting inclusive workplace.
• Introduced the first Spanish-language credit report, expanding market reach.
• Launched initiatives to support financial inclusion, enhancing community impact.

Negative

• None.

New Disclosures Demonstrate Strong Momentum Across Company's Stated ESG Priorities of Security, Workforce Diversity, Environmental Stewardship and Financial Inclusion

ATLANTA, April 12, 2022 /PRNewswire/ -- Equifax^® (NYSE: EFX) continues to further its commitment to Environmental, Social and Governance (ESG) priorities and has issued its annual ESG letter to shareholders and stakeholders and made new disclosures available on Equifax.com. These disclosures, which include the Task Force on Climate-related Financial Disclosures (TCFD) report, the Sustainability Accounting Standards Board (SASB) report, Equal Employment Opportunity (EEO-1) report, the 2021 Equifax Security Annual Report, and financial inclusion initiatives, illustrate the company's strong momentum across its ESG priorities, including continued leadership in security, driving greater workforce diversity, reducing environmental impact and increasing financial inclusion.

"We are a New Equifax – a global, diversified data, analytics, and technology company that has expanded well beyond a traditional consumer credit bureau. Through our unique combination of differentiated data assets, innovative analytics and industry leading technology, we play a critical role in the global economy and in the lives of individual consumers each day," said Mark W. Begor, CEO of Equifax. "As part of our commitment to creating a more inclusive global economy, we are making a strong investment in ESG priorities in a way that is aligned with our company purpose – to help people live their financial best. This purpose drives our 13,000 global employees every day."

Equifax recognizes that data, analytics and technology is a powerful force in addressing pressing issues facing the world around us. Last year, the company accelerated its commitment to ESG priorities, announcing an important sustainability commitment to reach net-zero greenhouse gas emissions by 2040 enabled by the Equifax Cloud™. In 2021, Equifax made significant progress against its ESG priorities – all of which are integrated into the company's core business strategy. The measurable, positive ESG outcomes seen by Equifax over the last year are outlined in an open letter from CEO Mark W. Begor and include:

Continued Leadership In Security

Equifax launched its inaugural Security Annual Report in 2021, detailing the steps the company has taken toward embedding security across its enterprise – from technology infrastructure, data fabric, and product development, to mergers and acquisition strategies and employee training. Now in its second year, the latest Security Annual Report highlights Equifax's significant advances in several key areas, including cloud security, digital supply chain security, employee security training, and global risk management. Because of these efforts and beyond, the company's security maturity and posture today exceed every major industry benchmark as measured by independent third parties.

Driving Greater Workforce Diversity

In 2021, 77% of the Equifax senior leadership team (defined as direct reports of the CEO and certain other key executives) reflected gender, racial or ethnic diversity; 38% of the senior leadership team identified as female; and women comprised 44% of the Equifax global workforce. During that same time, 41% of Equifax U.S. employees identified with diverse racial and ethnic groups. Equifax shares diversity data and details regarding its inclusion and diversity initiatives through annual EEO-1 and SASB reports and discussion on its ESG website.

Reducing Environmental Impact

Equifax's initial TCFD report provides transparency into the company's environmental sustainability practices. It shows that Equifax's combined scope 1 and 2 greenhouse gas emissions have decreased each year since 2019, with an approximate 13.5% decrease between 2019 and 2021 and an approximate 3% decrease between 2020 and 2021. The move to the Equifax Cloud is expected to propel the company on its journey to net-zero by significantly reducing the footprint of onsite technology and data centers, leveraging the enhanced energy efficiency of cloud service providers.

Increasing Financial Inclusion

Equifax strives to create and empower economically healthy individuals and communities everywhere the company does business. In 2021, Equifax delivered two big "firsts" – announcing the availability of the industry's first and only U.S. credit report in Spanish, as well as being the first to include Buy Now, Pay Later (BNPL) tradelines in its U.S. consumer credit files. Most recently, Equifax, in a joint measure with its industry peers, announced significant changes to medical collection debt reporting in an effort to better support consumers facing unexpected medical bills. 

"We are energized by the significant progress made by Equifax in 2021, but we recognize that there is more to do," continued Begor. "We are committed to transparency in our ESG journey and will keep sharing our progress along the way. It is our hope that our focus on ESG will serve as an example for other financial institutions, as we continue to show how we are better positioning Equifax for long-term sustainability, and, in turn, building shareholder value."

For more information on Equifax ESG initiatives, visit our website. 

FORWARD-LOOKING STATEMENTS

This release contains information that may constitute "forward-looking statements." Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," "may" and similar expressions identify forward-looking statements, which generally are not historical in nature. All statements that address operating or environmental performance and events or developments that we expect or anticipate will occur in the future, including statements relating to future operating results and plans for reducing our environmental footprint and greenhouse gas emissions and making improvements in our IT and data security infrastructure, are forward-looking statements. We believe these forward-looking statements are reasonable as and when made. However, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in our most recent Annual Report on Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission. As a result of such risks and uncertainties, we urge you not to place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

ABOUT EQUIFAX

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 13,000 employees worldwide, Equifax operates or has investments in 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com. 

FOR MORE INFORMATION

Kate Walker for Equifax
mediainquiries@equifax.com

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SOURCE Equifax Inc.

FAQ

What recent ESG initiatives has Equifax (EFX) announced?

Equifax announced significant ESG initiatives including a commitment to net-zero emissions by 2040, workforce diversity metrics, and the introduction of a Spanish-language credit report.

What were Equifax's greenhouse gas emission reductions reported in 2021?

Equifax reported a 13.5% decrease in greenhouse gas emissions from 2019 to 2021 as part of its environmental sustainability efforts.

How diverse is Equifax's senior leadership team?

77% of Equifax's senior leadership team reflects gender, racial, or ethnic diversity, with 38% identifying as female.

What financial inclusion initiatives did Equifax introduce recently?

Equifax introduced the industry's first Spanish-language credit report and formalized the inclusion of buy-now-pay-later tradelines in U.S. consumer credit files.

What is Equifax's target for greenhouse gas emissions?

Equifax aims to achieve net-zero greenhouse gas emissions by 2040.