Match Group To Achieve Carbon Neutrality By March 2022
Match Group (NASDAQ: MTCH) has announced its commitment to achieve carbon neutrality by March 2022.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Match Group (NASDAQ: MTCH) has announced its commitment to achieve carbon neutrality by March 2022. This initiative will commence with the purchase of offsets for 2021 and beyond, targeting projected greenhouse gas emissions.
The company is investing in the Hyundai Green Power Corporation, aiming to reduce 1.8 million tons of carbon emissions annually by recycling waste gases for electricity. This reflects Match Group's commitment to sustainability, which includes eco-friendly strategies and initiatives across its brands.
Positive
- Commitment to carbon neutrality by March 2022.
- Investment in Hyundai Green Power Corporation to reduce 1.8 million tons of carbon emissions annually.
- Focus on implementing eco-friendly strategies and practices corporation-wide.
Negative
- None.
Details
News Market Reaction – MTCH
The recorded move for MTCH in the trading session of this news was -2.69%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
DALLAS, Dec. 14, 2021 /PRNewswire/ -- Match Group (NASDAQ: MTCH) announced today its business will be carbon neutral by March 2022 following the purchase of offsets that effectively make the company's operations carbon neutral beginning with the year 2021 lasting through the subsequent two years. With this purchase, which is based on projected greenhouse gas emissions, the company commits to offsetting its corporate footprint for each year going forward.
"Sustainability is a core foundational principle that all companies should care about. There's no future if we do not have a livable planet to hand over to our children and grandchildren," said Shar Dubey, CEO of Match Group. "This is the beginning of our actions to reduce our business impact on the environment."
To achieve carbon neutrality, Match Group is investing in Hyundai Green Power Corporation, which captures and recycles waste gases to generate electricity through its Hyundai Steel Waste Energy Cogeneration Project. The site's steel mill reuses waste gases created through the steel production process, and what remains is consumed by the project's power plant. The recovered gases supply energy to the local grid in Dangjin, South Korea, that would otherwise be sourced from fossil fuels, reducing air pollution and resulting in an estimated reduction of 1.8 million tons of carbon emissions per year.
Match Group has made the implementation of eco-friendly strategies a primary objective at the corporate and brand levels, with specific focus on promoting environmentally sustainable habits and practices within the organization and providing opportunities for employees to take part in environmental initiatives within the community. Earlier this year, Match Group released its first Impact Report, which outlined the company's social, environmental, and governance performance for 2020. The company plans to share more about its environmental impacts and reduction strategies in future Impact Reports.
Match Group brands have also taken steps to reduce their environmental footprint, from installing green power solutions and compost receptacles at their facilities, to organizing hackathons around eco-friendly design. In 2020, Match Group's France-based dating brand Meetic started the process to become ISO 14001 certified for its environmental management system.
About Match Group
Match Group (NASDAQ: MTCH), through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. Our global portfolio of brands includes Tinder®, Match®, Meetic®, OkCupid®, Hinge®, Pairs™, PlentyOfFish®, OurTime®, Azar®, Hakuna Live™, and more, each built to increase our users' likelihood of connecting with others. Through our trusted brands, we provide tailored services to meet the varying preferences of our users. Our services are available in over 40 languages to our users all over the world.
View original content to download multimedia:https://www.prnewswire.com/news-releases/match-group-to-achieve-carbon-neutrality-by-march-2022-301443658.html
SOURCE Match Group
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.