Equinix Delivers Significant Progress on its Environmental, Social and Governance Goals

Rhea-AI Summary

Equinix releases its 2022 Sustainability Report, highlighting progress towards environmental, social, and governance goals. The company achieved 96% renewable energy coverage for its operational load in 2022, marking a 10% YoY increase. Equinix also made progress in engaging suppliers for emissions targets and launched the Equinix Foundation with a $50 million contribution. The company aims to optimize operating temperature ranges in data centers for improved efficiency. It tied executive compensation to ESG performance and increased diverse representation on its Board of Directors.

Positive

• Equinix achieved 96% renewable energy coverage for its operational load in 2022, reflecting a 10% YoY increase in procurement of renewables on a GWh-basis.
• Equinix launched the Equinix Foundation with a $50 million contribution to advance digital inclusion globally.
• The company tied executive compensation to ESG performance, holding leaders accountable for achieving environmental and diversity objectives.
• Equinix increased diverse representation on its Board of Directors with three out of the four most recent additions self-identified as women and/or ethnically diverse.

Negative

• None.

REDWOOD CITY, Calif., May 1, 2023 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company™, has released its 2022 Sustainability Report which outlines progress toward the company's key environmental, social and governance (ESG) goals. Focused on the United Nations Sustainable Development Goals (UNSDGs) that are most aligned with its business—Industry, Innovation & Infrastructure; Climate Action; Affordable & Clean Energy; Decent Work & Economic Growth; Reduced Inequalities; and Gender Equality—Equinix's Future First strategy is driven by its resolve to set ambitious targets, measure and transparently report progress, lead with ethics and integrity, and engage with stakeholders to drive change. 

Most notably, Equinix has extended its industry leadership by achieving 96% renewable energy coverage of its operational load for 2022, marking the fifth consecutive year with over 90% renewable energy coverage, reflecting a 10% year-over-year increase in procurement of renewables on a GWh-basis.

The company continues to make significant progress on its sustainability goals across all areas, including:

Environment

• Achieved the highest ranking of the CDP's prestigious 2022 "Climate Change A List" for the first time
• Made progress toward its goal of engaging 66% of its suppliers by qualified emissions to set a Science-Based Target (SBT) by 2025, with 17% of Scope 3 emissions now covered by supplier-set targets
• Became the first digital infrastructure company to commit to optimizing operating temperature ranges within its data centers to improve data center efficiency and power usage effectiveness (PUE)

Social 

• Launched the Equinix Foundation with a financial contribution of $50 million aimed at advancing digital inclusion globally—from providing access to technology and connectivity, to fostering the development of the skills needed to thrive in today's digitally driven world
• Continued progress toward the company's aspirational five-year diversity goals, including a 13% increase in the number of women employees globally as well as a 20% increase in Black/African American employees in the U.S. in the last year
• Achieved a 37% increase in employee volunteering globally, tracking 22,760 employee volunteer hours across the regions

Governance

• Recognized for the second year in a row by the CDP for its supplier engagement practices
• Became one of the first digital infrastructure companies to tie executive compensation to ESG performance by implementing a modifier to short-term incentives for VP-level employees and above, including executive officers. As part of this initiative, the company aims to hold its leaders accountable for achieving both environmental and diversity objectives.
• Increased diverse representation on the corporate Board of Directors with three out of the four most recent additions self-identified as women and/or ethnically diverse

Quote

Keith Taylor, Chief Financial Officer, Equinix
"Equinix believes in the future of possibility—a future where our planet is healthy, our global communities thrive, and every business leads with purpose. We believe the opportunity for our company remains strong as we continue to see our customers look to Platform Equinix as a key partner in advancing their digital transformation agenda, sustainably. We are proud of what we've achieved thus far and look forward to continuing to make further progress in 2023 and beyond as we press our competitive advantage."

Additional Resources

• 2022 Equinix Sustainability Report and Global Reporting Initiative (GRI) Metrics [report]
• Becoming the Sustainability Partner Our Customers Need [blog]

About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company™. Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, a failure to achieve Equinix's targets and commitments related to climate and sustainability, and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.

 

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SOURCE Equinix, Inc.

FAQ

What is the main highlight of Equinix's 2022 Sustainability Report?

Equinix achieved 96% renewable energy coverage for its operational load in 2022.

What initiative did Equinix launch to advance digital inclusion globally?

Equinix launched the Equinix Foundation with a $50 million contribution.

How did Equinix tie executive compensation to ESG performance?

Equinix implemented a modifier to short-term incentives for VP-level employees and above, including executive officers.

What did Equinix do to increase diverse representation on its Board of Directors?

Equinix increased diverse representation with three out of the four most recent additions self-identified as women and/or ethnically diverse.