Unity Furthers Commitment to Social Responsibility, Partners With Playing for the Planet, Pledge 1%, and Rare Beauty’s Rare Impact Fund

Rhea-AI Summary

Unity (NYSE: U) has announced partnerships with Playing for the Planet, Pledge 1%, and Rare Beauty to enhance its social responsibility commitment. These collaborations will promote climate action, mental health awareness, and community support. Seeded with 750,000 shares valued at $39 million at IPO, the Unity Charitable Fund will provide grants for educational and environmental initiatives. Additionally, Unity will donate $100,000 towards mental health projects that support underserved communities. This initiative underscores Unity's commitment to leveraging its platform for positive social impact.

Positive

• Partnerships with Playing for the Planet, Pledge 1%, and Rare Beauty strengthen Unity's social responsibility efforts.
• Unity Charitable Fund seeded with 750,000 shares valued at $39 million for community-focused grants.
• A total of $100,000 donated to mental health initiatives, emphasizing support for underserved communities.

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)--Unity (NYSE: U), the world’s leading platform for creating and operating real-time 3D (RT3D) content, today announced that it has partnered with three groups to further its commitment to social responsibility: Playing for the Planet -- an alliance of private video game sector member organizations who have committed to harnessing the power of their platforms to take action on the climate crisis, Pledge 1% -- the global movement empowering companies to donate 1% of product, profit, equity, and/or employee time to improve their local communities, and Rare Beauty -- the mission-driven cosmetics company founded by Selena Gomez with the purpose of reducing the stigma associated with mental health. These partnerships mark the first major initiatives since Unity announced its Unity Charitable Fund. Seeded with 750,000 shares of Unity equity--which at the time of Unity’s initial public offering was $39.0 million, based upon the initial public offering price of $52.00 per share--the fund directs grants to nonprofits and social impact for-profits in the areas of education, inclusive economic opportunity, environment, human wellness, safety, and accessibility.

“Unity’s support for Playing for the Planet, Pledge 1%, and Rare Beauty are the first of what will be a series of many commitments that align with our efforts to make education and economic opportunity widely available, to ensure privacy and online safety, to promote wellness, and to demonstrate environmental responsibility through sustainability initiatives,” said Jessica Lindl, Vice President, Social Impact, Unity. “Partnering with these incredible organizations extends our promise to all creators - from all walks of life - that change is possible, actionable, and most importantly available to all.”

The Playing for the Planet Alliance, which is convened by the UN Environment Programme and was announced at the United Nations Climate Summit in September 2019, brings together the biggest companies in the video games industry to formally commit to harnessing the power of their platforms to take action on the climate crisis. In total, the members of the Alliance have the ability to reach more than 1 billion video game players. In joining the Alliance, members have made commitments ranging from integrating green activations in games, reducing their emissions and supporting the global environmental agenda through initiatives ranging from planting millions of trees to reducing plastic in their products. This marks Unity Social Impact's first environment and sustainability initiative commitment, specifically aiming to elevate and rate the Made with Unity experiences that are more eco friendly or impact the environment.

“Playing for the Planet has brought climate awareness and action to an unprecedented number of gamers around the world,” said Sam Barratt, Chief for Youth, Education & Advocacy in the UN Environment Programme’s Ecosystems Division. “Unity’s commitment will provide a major boost to the alliance’s efforts to reduce carbon emissions, protect and restore forests and explore the introduction of new ‘green nudges’ in game design.”

Pledge 1% is a global movement that inspires, educates, and empowers every entrepreneur, company, and employee to be a force for good. Pledge 1% provides a flexible framework for companies of all sizes to donate 1% of their product, profit, employee time, and/or equity to causes of their choosing. Unity joins more than 10,000 Pledge 1% member companies from 100+ countries who are leveraging their assets to support their communities and drive meaningful social impact.

“We are thrilled to welcome Unity to the Pledge 1% movement and to celebrate their incredible leadership as a role model to others. Increasingly, we’re noting a strong trend of top companies like Unity who are setting aside equity for social impact prior to their IPOs,” said Pledge 1% Chief Executive Amy Lesnick. “In today's world, it's clear that companies have an important role to play in driving solutions to our most pressing social issues. By leveraging equity, in addition to other assets such as time, expertise, product, and its global network, Unity is fortifying its commitment with the financial resources required to sustainably address these challenges and drive lasting positive change.”

Rare Beauty and Unity are partnering to empower entrepreneurs and creators to improve mental health for underserved communities, a mission both organizations share. As part of the partnership, Unity and Rare Beauty are launching a separate Unity for Humanity submission category focused solely on projects that encompass themes of mental health. Unity is donating $50,000, which will go directly to the winning creators. The call for submissions in this category will open on November 16, 2020. Unity is separately donating an additional $50,000, which will go towards the Rare Beauty’s Rare Impact Fund, aimed at addressing the gaps in mental health services, with a focus on underserved communities.

“Even before Rare Beauty launched, we wanted the brand to have a strong purpose that felt authentic to our business and to our founder, Selena Gomez. Through Rare Impact, our goal is to increase awareness and support for people who need access to mental health services, which have had a profound impact on the life of our founder,” said Elyse Cohen, Vice President, Social Impact at Rare Beauty. “Partnering with Unity Social Impact to support Unity creators who are building immersive experiences focused on raising awareness for and treating mental illnesses, is a natural next step in realizing this vision.”

Details of the aforementioned partnership can be learned at today’s Unity for Humanity Summit: a free, two-day online event, featuring a keynote by Malcolm Gladwell and presentations by Philippe and Ashlan Cousteau, amongst other industry luminaries.

To learn more about Unity’s commitment to impacting social change, please visit www.unity.com/social-impact.

To learn more about the Unity for Humanity Summit taking place October 21-22, discover sessions, and virtually attend, please visit ufhsummit2020.unity.com.

About Unity

Unity is the world’s leading platform for creating and operating real-time 3D (RT3D) content. Creators, ranging from game developers to artists, architects, automotive designers, filmmakers, and others, use Unity to make their imaginations come to life. Unity’s platform provides a comprehensive set of software solutions to create, run and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company’s 1,800+ person research and development team keeps Unity at the forefront of development by working alongside partners to ensure optimized support for the latest releases and platforms. Apps developed by Unity creators were downloaded more than three billion times per month in 2019 on more than 1.5 billion unique devices. For more information, please visit www.unity.com.