NerdWallet Releases Inaugural Environmental, Social and Governance Report

Rhea-AI Summary

NerdWallet, Inc. (Nasdaq: NRDS) has published its inaugural 2022 Environmental, Social and Governance (ESG) Report, outlining its commitment to enhancing financial guidance with ESG principles. The report focuses on three key areas: access to financial tools, employee development, and social responsibility. Initiatives include the Financial Equality Project, which deposited $2 million into the Self-Help Federal Credit Union, aimed at underserved communities. CEO Tim Chen emphasizes accountability and integrity in business practices.

Positive

• Launch of inaugural 2022 ESG Report highlights commitment to financial guidance and ESG principles.
• Focus on enhancing access to financial education for consumers and businesses.
• Investment of $2 million into the Self-Help Federal Credit Union supports underserved communities.

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)-- Today, NerdWallet, Inc. (Nasdaq: NRDS), a platform that provides financial guidance to consumers and small-and mid-sized businesses (SMBs), published the company’s inaugural 2022 Environmental, Social and Governance (ESG) Report.

From the start, NerdWallet’s core mission has been to increase access to financial tools and education and provide clarity for all of life’s financial decisions. Today’s announcement marks a new chapter in NerdWallet’s history as this report highlights current and new initiatives and the company’s commitment to integrating ESG principles and practices throughout the organization.

“This is an exciting day for NerdWallet as we formalize our ESG work and make it available for all to see,'' said Tim Chen, NerdWallet CEO and Co-founder. “At NerdWallet we recognize the potential effects of operating our business in a responsible and socially conscious way. We — our employees, leadership and shareholders — value action taken with honor and an eye toward the greater good. With our ESG strategy, it is our goal to help play a role in improving access to critical financial education, and we are committed to upholding accountability and integrity in all of our business practices.”

Based on an in-depth materiality assessment NerdWallet conducted between December 2021 and April 2022, the company’s ESG initiatives focus on three key pillars:

• Achieving Our Vision: Our vision is a world where everyone makes financial decisions with confidence. We know not everyone has access to the proper tools and resources to make these decisions, that not everyone is adequately served by financial incumbents, and addressing these inequities is endemic to our DNA.
• Investing in Our Nerds (Employees): NerdWallet’s most important asset is its workforce of Nerds. NerdWallet is committed to building and maintaining an inclusive and equitable workforce, to creating a work environment that is intellectually and socially rewarding, and to helping Nerds reach their own professional goals, at NerdWallet and beyond.
• Building a Socially Responsible Business: NerdWallet recognizes it is accountable to the communities and people it impacts broadly. It is important that NerdWallet’s business is conducted in a socially responsible manner that helps benefit the lives of Nerds, direct users and society at large.

The 2022 ESG Report provides an in-depth look at specific programs and initiatives prioritized over the last year. Included below are highlights of initiatives that are part of NerdWallet’s ESG framework and priorities. To view NerdWallet’s 2022 ESG Report in its entirety, visit: nerdwallet.com/environmental-social-governance

• Corporate Social Responsibility (CSR) Hub: Using financial products backed by socially responsible companies is important to many consumers and can have broad positive effects. NerdWallet’s content team made it easier to find these products — in one place featuring relevant articles and tools. This effort is an extension of NerdWallet’s broader CSR program and is designed to connect consumers with financial products and investment vehicles from companies that share their concerns for social issues.
• Financial Equality Project: The NerdWallet Financial Equality Project calls on other companies to make deposits into Community Development Credit Unions (CDCUs) serving low-income communities, where their cash can make a tangible difference. NerdWallet deposited $2 million into Self-Help Federal Credit Union, a CDCU that provides economic opportunity for underserved communities by providing personal and small-business loans and basic banking services.
• Career Accelerator Program (CAP): To encourage the growth and development of all Nerds, NerdWallet has partnered with Landit — a company working to increase the success of women and diverse groups in the workplace — to launch the CAP. The 12-month CAP program includes six workshops and three sessions with a certified coach. In 2022, we have 57 Nerds participating in four cohorts.
• Product and Feature Safeguards: With a keen sense of responsibility to consumers as they seek NerdWallet’s expertise with some of their most sensitive information and regarding their most important decisions, NerdWallet has implemented a pre-deployment process for assessing all products and features for privacy and security. This process aims to ensure any data collected serves a stated and justifiable purpose and is protected against risks. It demands that high standards are embedded in every design.

Forward-Looking Statements

This press release and the 2022 ESG Report referred to herein contain forward-looking statements. Forward-looking statements generally can be identified by words such as “aims,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “target,” “continue,” “predict,” “project,” “change,” “result,” “future,” “will,” “would,” “could,” “can,” “may,” “likely,” “potentially,” or similar expressions that concern our strategy, plans, expectations or intentions. Although we believe that the expectations and assumptions reflected in these forward-looking statements are reasonable, forward-looking statements are inherently subject to various uncertainties, risks and other factors that are difficult to predict and could cause our actual results to vary in material respects from that expressed or implied by these forward-looking statements, including those risk factors described in NerdWallet’s Annual Report on Form 10-K for the year ended December 31, 2021 and in other filings we make with the SEC from time to time. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

About NerdWallet

NerdWallet (Nasdaq: NRDS) is on a mission to provide clarity for all of life's financial decisions. As a personal finance website and app, NerdWallet provides consumers with trustworthy and knowledgeable financial information so they can make smart money moves. From finding the best credit card to buying a house, NerdWallet is there to help consumers make financial decisions with confidence. Consumers have free access to our expert content and comparison shopping marketplaces, plus a data-driven app, which helps them stay on top of their finances and save time and money, giving them the freedom to do more. NerdWallet is available for consumers in the U.S., UK and Canada.

"NerdWallet" is a trademark of NerdWallet, Inc. All rights reserved. Other names and trademarks used herein may be trademarks of their respective owners.

For more information, visit NerdWallet.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221101006277/en/

INVESTOR RELATIONS:

Caitlin MacNamee

ir@nerdwallet.com

MEDIA RELATIONS:

Maitri Jani

press@nerdwallet.com

Source: NerdWallet, Inc.