Equinix announces milestones on sustainability commitments
Equinix has released its 2021 Sustainability Report which outlines progress, innovation and accomplishments on key environmental, social and governance (ESG) commitments from the past year and since formalising its Corporate Sustainability program in 2015.
The ESG initiatives comprising Equinix's Future First strategy focus on the issues that have the greatest impact on key stakeholders and business, including diversity, inclusion and belonging (DIB), and the company's commitment to becoming climate neutral globally by 2030.
ESG topics have long been a part of Equinix's corporate agenda and align to the material issues that impact its stakeholders, business and the world at large.
New government-mandated regulations are being enacted and proposed globally, making Equinix's commitment to sustainability more important, the company states.
This commitment, backed by science-based targets for emissions reduction, a strategic green financing plan and a comprehensive sustainability agenda, is a critical step in advancing the company's investments and innovations aimed at reducing greenhouse gas emissions, the company wrote in a statement.
It also reflects the role Equinix can play in greening its customers' digital supply chains and addressing the evolving needs of key stakeholders.
Overall, the company has made significant traction in meeting this commitment, with more than 95% renewable coverage for its portfolio in FY21, reaching over 90% for the fourth consecutive year.
Equinix has continued to make progress on its sustainability goals. Highlights from FY21 include the following:
- Became the first company in the data centre industry to commit to becoming climate neutral globally by 2030 and set science-based targets for its operations and supply chain
- Reached 95% renewable energy coverage across its global data centre footprint - the fourth consecutive year in which the company has achieved greater than 90% coverage
- Became a founding signatory of the EU Climate Neutral Data Centre Operator Pact and Self-Regulatory Initiative, which is leading advocacy and steering the development of sustainability requirements for the EU data centre industry to become climate neutral by 2030
- Issued $4.9 billion of green bonds as of April 2022, making Equinix the fourth largest global issuer in the investment-grade green bond market
- Received a perfect score on the Human Rights Campaign (HRC) Corporate Equality Index (CEI), ranking among the "Best Places to Work for LGBTQ+ Equality"
- Beginning in 2022, Equinix became one of the first data centre companies to tie executive compensation to ESG performance. By implementing a modifier to short-term incentives for VP-level employees and above, including executive officers, the company aims to hold its leaders accountable for achieving both environmental and diversity objectives
Equinix chief financial officer Keith Taylor says, "Our customers, partners, investors and employees are focused on sustainability more than ever. In the past year, we have seen a substantial increase in interest from customers on how Equinix helps them meet their sustainability and ESG objectives.
"Responding to our customers' needs is just one of the reasons we are devoted to our 'Future First' sustainability strategy that outlines our key ESG initiatives and responsibilities, including diversity, inclusion and belonging (DIB), science-based targets and our commitment to becoming climate neutral globally."