Expedia Group Releases Its 2023 Global Impact Report Demonstrating Actions and Progress Aligned With Its Open World™ Social Impact and Sustainability Strategy

Rhea-AI Summary

Expedia Group released its 2023 Global Impact Report, showcasing progress toward environmental, social, and governance targets. The company aims to achieve Net Zero greenhouse gas emissions by 2040, with interim goals set for 2030. Initiatives include the Made to Travel™ Fund, Open World Accelerator, and efforts to promote diversity and inclusion. Expedia Group's commitment to sustainability and social impact is evident through partnerships, funding, and community support.

Positive

• Expedia Group's focus on achieving Net Zero greenhouse gas emissions by 2040 and interim targets for 2030 demonstrates a strong commitment to environmental sustainability.

• The launch of programs like the Made to Travel™ Fund and initiatives to support small businesses and underrepresented travelers highlight Expedia Group's dedication to social impact and inclusivity.

• Significant progress in gender representation and efforts to close the gender pay gap showcase Expedia Group's commitment to diversity and equality in the workplace.

Negative

• Expedia Group needs to ensure effective implementation and monitoring of its Climate Action Plan to meet its ambitious targets for reducing greenhouse gas emissions.

• Continued efforts are required to ensure that sustainability initiatives are scalable, impactful, and effectively communicated to stakeholders to drive long-term change.

SEATTLE, May 6, 2024 /PRNewswire/ -- Expedia Group today released its 2023 Global Impact Report highlighting actions taken and progress made in pursuit of the company's environmental, social and governance targets and commitments. Formally launched in 2022, Expedia Group's Open World™ social impact and sustainability framework has since come to life through programs and partnerships focused on driving impact, with the mission of powering more responsible and sustainable travel for everyone, everywhere.

"Expedia Group continues to focus on making a positive impact across the travel industry, concentrating on the connection between our employees, partners, travelers and communities," said Peter Kern, vice chairman and CEO, Expedia Group. "We have expanded our environmental and community initiatives through the launch of programs like the Made to Travel™ Fund, which awards grants to nonprofits that share our goal of removing barriers to travel. Holding ourselves accountable, this report highlights our actions, progress, ongoing commitment, and vision for the future of travel."

Key highlights from 2023 include:

Environment
Expedia Group published its inaugural Climate Action Plan and shared a commitment to reach Net Zero greenhouse gas (GHG) emissions by 2040, aiming to reduce Scope 1, Scope 2 and upstream Scope 3 GHG emissions by at least 90% by 2040.

Interim targets:

• Reduce Scope 1 and Scope 2 GHG emissions 75% by 2030.
• Continue to source 100% renewable electricity annually through 2030.
• Engage our value chain to ensure 75% of our suppliers by emissions set science-based targets by 2028.

Next steps include developing a Net Zero roadmap which outlines the path to achieving these commitments. Additionally, in an effort to help travelers understand and book more eco-friendly properties, Expedia Group has added industry-aligned attributes to its travel sites that help supply partners demonstrate their sustainability credentials. This allows travelers the ability to filter for hotels that have received third-party eco-certifications.

Social Impact
Expedia Group launched two initiatives focused on making travel more open, inclusive and accessible — the Open World Accelerator supporting small and midsized businesses that power travel, and the Made to Travel™ Fund, which provides funding to nonprofits around the world.

Additionally, the company and its employees continued its effort to help better its communities and their wellbeing and resiliency as:

• $8.7 million in funding was provided to partners, and 60 nonprofits received grants to support their work
• Expedians collectively volunteered more than 34,000 hours and supported more than 2,000 non-profit causes
• More than $1.5 million in grants awarded through the Made to Travel™ Fund in 2022 and 2023 to open access for underserved or underrepresented travelers to life-changing travel experiences

Inclusion and Diversity
Expedia Group made significant progress toward its global gender representation goal and exceeded its hiring ambitions in the U.S. for candidates from underrepresented identities (URI*).

The year marked the company's highest increases in hiring including:

• 4% increase for women year-over-year
• 8% increase for URI candidates year-over-year
• 48% of employees globally are women, with women representation at the leadership level reaching 40%
• 31% of U.S. hires were from underrepresented identities

Expedia Group also took an important step toward closing the gender pay gap by conducting its first all-company pay assessment across roles, demographics and locations. The company developed action plans focused on correcting disparities by making salary adjustments for all genders globally. After adjusting, women at Expedia Group earn USD $1 for every USD $1 earned by men, on a global basis for comparable jobs.

(*URI refers to Black, Latino/a/x, Indigenous and Multiracial identities)

The 2023 Global Impact report was prepared with reference to the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) standards, and the Task Force on Climate-Related Financial Disclosures (TCFD). For more information on Expedia Group's Open World™ social impact & sustainability framework, visit www.expediagroup.com.

About Expedia Group
Expedia Group, Inc. brands power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success, while facilitating memorable experiences for travelers. Our organization is made up of three pillars: Expedia Brands, housing all our consumer brands; Expedia Product & Technology, focused on the group's product and technical strategy and offerings; and Expedia for Business, consisting of business-to-business solutions and relationships throughout the travel ecosystem. 

Expedia Group's three flagship consumer brands include: Expedia®, Hotels.com®, and Vrbo®. One Key™ is our comprehensive loyalty program that unifies Expedia, Hotels.com and Vrbo into one simple, flexible travel rewards experience. To enroll in One Key, download Expedia, Hotels.com and Vrbo mobile apps for free on iOS and Android devices. One Key is currently available in the U.S. and will become available globally soon.

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SOURCE Expedia Group

FAQ

What are Expedia Group's greenhouse gas emission reduction targets?

Expedia Group aims to reduce Scope 1, Scope 2, and upstream Scope 3 GHG emissions by at least 90% by 2040, with interim targets including a 75% reduction by 2030.

What initiatives has Expedia Group launched to promote sustainability?

Expedia Group has introduced programs like the Made to Travel™ Fund and Open World Accelerator to support sustainability and inclusivity in travel.

How is Expedia Group addressing gender representation in its workforce?

Expedia Group has made progress in global gender representation, with increases in hiring for women and candidates from underrepresented identities.

What organizations receive funding from Expedia Group's initiatives?

Expedia Group provides funding to nonprofits and partners through initiatives like the Made to Travel™ Fund, supporting community wellbeing and travel accessibility.

What standards were followed in preparing Expedia Group's Global Impact Report?

The report adhered to Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and Task Force on Climate-Related Financial Disclosures (TCFD) standards.