Wayfair Releases Inaugural Corporate Responsibility Report

Rhea-AI Summary

Wayfair (NYSE:W) has released its inaugural Corporate Responsibility Report, highlighting progress in environmental, social, and governance (ESG) areas. The report emphasizes three priorities: communities, workplace, and planet. Key highlights include $9 million in contributions to nonprofits, new employee benefits supporting well-being, and a commitment to reduce greenhouse gas emissions by 63% by 2035. For 2021, Wayfair generated $3.0 billion in net revenue and aims to foster an inclusive and sustainable world for future generations.

Positive

• Contribution of approximately $9 million to nonprofit partners and charitable causes.
• Introduction of new employee benefits, including expanded military leave and adoption reimbursement.
• Commitment to reduce Scope 1 and Scope 2 greenhouse gas emissions by 63% by 2035.

Negative

• None.

BOSTON--(BUSINESS WIRE)-- Wayfair (NYSE:W), one of the world’s largest destinations for the home, today released its inaugural Corporate Responsibility Report, as the company shares and celebrates progress across environmental, social and governance topics.

“While we are at the beginning of our journey, we are motivated by our desire to continuously improve, and we’re invested in setting ourselves up for the long haul,” Derek Oliver, Head of Government Affairs and Corporate Responsibility. “Our dedication to helping anyone, anywhere build their feeling of home guides our work towards building a more fair, inclusive and sustainable world for future generations.”

Wayfair’s corporate responsibility priorities include three areas where the company believes it can make the greatest impact — communities, workplace and planet.

Some of the key highlights include:

• Approximately $9 million in contributions to nonprofit partners and charitable causes across its communities.
• Introduction of new employee benefits to support physical and mental well-being, including expanded military leave, a global surrogacy and adoption reimbursement policy and expanded bereavement benefits.
• Commitment to reducing Scope 1 and Scope 2 greenhouse gas emissions by 63% by 2035.

To learn more about Wayfair’s goals and corporate responsibility performance in 2021, read the full report here.

About Wayfair
Wayfair is the destination for all things home: helping everyone, anywhere create their feeling of home. From expert customer service, to the development of tools that make the shopping process easier, to carrying one of the widest and deepest selections of items for every space, style, and budget, Wayfair gives everyone the power to create spaces that are just right for them.

The Wayfair family of sites includes:

• Wayfair - Everything home — for a space that's all you.
• Joss & Main - The ultimate style edit for home.
• AllModern - All of modern, made simple.
• Birch Lane - A fresh take on the classics.
• Perigold - An undiscovered world of luxury design.

Wayfair generated $3.0 billion in net revenue for the three months ended March 31, 2022. Headquartered in Boston, Massachusetts with operations throughout North America and Europe, Wayfair employs approximately 18,000 people.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220615005243/en/

Claire Gorman

PR@wayfair.com

Ryan Barney

IR@wayfair.com

Source: Wayfair

FAQ

What did Wayfair announce in its Corporate Responsibility Report?

Wayfair announced the release of its inaugural Corporate Responsibility Report, showcasing its progress in environmental, social, and governance topics.

What are Wayfair's corporate responsibility priorities?

Wayfair's corporate responsibility priorities include communities, workplace, and planet.

How much did Wayfair contribute to charitable causes?

Wayfair contributed approximately $9 million to nonprofit partners and charitable causes.

What is Wayfair's goal for greenhouse gas emissions?

Wayfair aims to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 63% by 2035.

What were Wayfair's net revenues for the three months ended March 31, 2022?

Wayfair generated $3.0 billion in net revenue for the three months ended March 31, 2022.