Environment

Committed to Net-Zero Greenhouse Gas Emissions by 2040
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Annual Climate Report


With our journey to net-zero underway, we report on our progress annually in accordance with the framework set forth by the Task Force on Climate-Related Financial Disclosures (“TCFD”).

Annual Climate Report

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Our Environmental Priorities

We understand the power of data, analytics and technology in addressing the most pressing issues facing the world around us, and the important role Equifax plays in the communities where we live and work. We have pledged to reduce our global environmental impact and have committed to net-zero greenhouse gas (GHG) emissions by 2040. In support of that goal, we recently set near-term science-based emissions reductions targets that were validated by the Science-Based Targets initiative (SBTi).

As a technology company that does not manufacture physical products, we have identified carbon emissions from the operation of our offices and data centers, purchase of goods and services (including capital goods), waste, employee commuting and business travel as the most significant areas of environmental impact generated by our company. These findings have informed our current environmental priorities and our recent actions.

Through our various decarbonization efforts, which are discussed in more detail below and in our Annual Climate Report, we continue to make significant headway against our environmental commitments and are dedicated to communicating with our employees, communities, customers and investors transparently throughout our environmental journey.


Recent actions include:

  • Made progress toward our commitment to net-zero greenhouse gas (GHG) emissions by 2040, as described in our Annual Climate Report
  • Set near-term GHG emissions targets that were validated by SBTi in 2023
  • Reduced combined scope 1 and 2 GHG emissions:
    • Decommissioned 7 data centers in 2023, for a total of 29 since 2019
    • Relocated to more energy efficient office locations around the globe, including 6 in 2023
    • Expanded our purchase of renewable energy
  • Made progress on our scope 3 supplier engagement target by migrating data from on-site data centers to third party cloud service providers, many of which have already set science-based emission reduction targets.
  • Achieved U.S. Green Building Council LEED Platinum Certification for our Global Business Services Center in Costa Rica
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Climate Commitments

Net-Zero 2040 Commitment

Equifax is committed to reaching net-zero greenhouse gas (GHG) emissions by 2040 along a science-based pathway. In 2021, we completed the collection and analysis of our GHG emissions across our global operational footprint (scope 1 and 2), as well as across our value chain (scope 3). We used this data to develop our initial GHG inventory and inform our decarbonization strategy.   

SBTi-Approved Near-Term Emission Reduction Targets

Equifax's near-term greenhouse gas emissions reduction targets have been validated by SBTi. SBTi is a global body enabling businesses to set ambitious emissions reductions targets. Under its target ambitions, Equifax has committed to reduce absolute Scope 1 and 2 greenhouse gas emissions 54.6% by 2032, from a 2019 base year. Equifax has also committed that 73% of its suppliers by spend, covering purchased goods and services and capital goods (Scope 3), will have science-based targets by 2027. SBTi has determined that the global operational footprint (Scope 1 and 2) target ambitions set by Equifax are in line with the Paris Agreement 1.5°C goal, currently the most ambitious designation available through the SBTi process.

Reporting Under the TCFD Framework

We are in the early stages of our journey to net-zero and the TCFD complements our efforts by providing an important tool to analyze and describe our climate-related governance, strategy, risks management, processes, and progress against
our climate-related commitments.
Read our TCFD report
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Climate Strategy

Decarbonization Strategy: Scope 1 and 2

Our environmental management strategy facilitates collaboration among team members across the global organization to promote environmental initiatives. Our scope 1 and 2 emissions primarily result from the operation of our office facilities and data centers. To gather applicable greenhouse gas (GHG) emissions data, our team analyzes actual usage information for our owned facilities and coordinates with our landlords to retrieve usage data for our leased facilities and co-located data centers. 
 

Cloud Transformation and Data Center Decommissioning

Our investment in cloud technology exemplifies the alignment between our business strategy and our responsible business priorities.  Our move to the Equifax Cloud™ continues to have a positive environmental impact by significantly reducing our on-site technology and data centers and leveraging the enhanced energy efficiency of our cloud service providers. Since 2022, by using the cloud, we have avoided approximately 13,000 metric tons of GHG emissions annually that would have been produced by the same work from an on-site data center. As we continue to decommission data centers and on-site servers, we expect to reduce overall gross emissions and transition the corresponding GHG emissions from our scope 1 and 2 inventory to scope 3.

Since 2019, we have decommissioned 29 data centers, with the remaining data centers making up about 37% of our total scope 1 and 2 emissions, net of renewable energy. As we continue to decommission data centers, we expect this number to continue to decline.

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Equifax is primarily partnering with Google via their cloud platform and office solutions. Google is carbon neutral today, with a goal to run on carbon-free energy, 24/7, at all of their data centers by 2030. 
Not all clouds are equal. When we were evaluating our choices, environmental efficiency was a key consideration and we wanted a partner who was leveraging renewable sources for all of their operations.

Investment in Energy Efficient Worksites


In recent years, we have enhanced the energy efficiency of a number of our workplaces and we plan to incorporate these enhancements at other sites. We also target environmentally efficient buildings for our office space to further increase efficiency. 

Facility upgrades continue to increase energy efficiency.

Electric vehicle charging stations

Daylight & Occupancy Office Sensors

High efficiency HVAC systems

Biodiverse buildings & greenspaces

In 2022, Equifax’s Costa Rica location was certified as carbon neutral by INTECO, the Technical Standards Institute of Costa Rica, based on the INTE/ISO 14064‐1:2006 and INTE B5:2016 standards. This important certification exemplifies our Costa Rica team's commitment to environmental sustainability. Further, in the United Kingdom, Equifax is managing our commitment to reduce pollution related to our activities via the implementation of an effective environmental management system, certified against the ISO 14001:2015 standard.

As of early 2024, the Equifax real estate portfolio included fifteen Leadership in Energy and Environmental Design (LEED) certified buildings in North and South America and India, three Building Research Establishment Environmental Assessment Method (BREEAM) Excellent rated buildings in the United Kingdom and Spain, four National Australian Built Environment Rating System (NABERS), one Energy Performance Contract certified building in the United Kingdom and one Neutral Carbon Certification in Costa Rica. While these Equifax buildings do not represent the majority of our worksites, our global real estate team includes energy efficiency as a factor in determining new office locations.

As we progress through our cloud transformation journey, we are also taking steps to more efficiently manage our remaining onsite data centers, such as optimizing our HVAC systems and implementing cold aisle containment processes. 

Space Utilization Initiatives

As we review our physical office space requirements around the world, we have established space utilization standards and metrics and invested in technology and workspaces that help reduce our space needs while encouraging employee collaboration and productivity. Maximizing the efficiency of our office spaces and reducing our overall footprint will help Equifax deliver on our decarbonization commitments.
 
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Purchase of Renewable Energy

We expect renewable energy to be an important component of our decarbonization strategy. We recently started purchasing renewable energy to reduce the emissions associated with our offices and data centers. To achieve our emission reduction goals going forward, we plan to continue to pursue opportunities to purchase high-quality renewable energy credits.
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Purchase of Renewable Energy

Renewable energy is an important component of our decarbonization strategy. In 2022, we began procuring renewable energy to reduce the emissions associated with our offices and data centers. In 2023, we further increased our investment in renewable energy and plan to continue to pursue opportunities to purchase high-quality renewable energy.
 
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Decarbonization Strategy: Scope 3

We performed an analysis of our value chain in line with guidance from the GHG Protocol and determined that the five significant categories of scope 3 emissions for Equifax are: (1) purchased goods and services; (2) capital goods; (3) waste generated in operations; (4) employee commuting; and (5) business travel. We used this data to develop an initial GHG inventory and inform our decarbonization strategy.

 

Purchased Goods & Services and Capital Goods

To calculate the GHG emissions associated with our purchased goods and services and capital goods, we use an Environmentally-extended input-output (EEIO) expense-based approach supplemented by action data, where available and provided to us. EEIO models estimate energy use and/or GHG emissions resulting from the production and upstream supply chain activities of different sectors and products. We plan to continue to refine our analysis of this category, especially as more actual data becomes available and provided to us.

The Equifax decarbonization strategy related to purchased goods and services will be driven by an engagement method. We are working to engage our key suppliers and partners to encourage their adoption of science-aligned targets and/or net-zero ambitions through education on decarbonization, advocating for their participation, and leveraging our purchasing power.

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Waste

We have undertaken a number of initiatives to reduce the waste produced at our offices. We reduced, and in many cases eliminated, personal waste bins at desks in favor of more efficient central trash and recycling bins.

We shred and recycle paper documents within our offices and program all printers to print double-sided as the default setting to reduce paper usage and waste.

We also responsibly dispose of electronic waste, such as laptops and monitors, through a third-party recycling organization. 
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Our employee Sustainability Network provides an opportunity for employees interested in coordinating, communicating, and celebrating sustainability at Equifax.  They offer education materials through a dedicated internal website, support environmental initiatives, and celebrate environmental events, such as Earth Week. In our Atlanta offices, our Sustainability Network has partnered with the real estate team to develop education materials and guidance for fellow employees regarding waste management and recycling efforts at the Company.

Additionally, at our Costa Rica office (approximately 10% of our employee base), we developed an environmental management strategy and are engaged in a number of initiatives, including waste management. Our team reinforces recycling campaigns and updates products and processes to reduce garbage going to the landfill and increase recycling, organic composting, and garbage used for energy generation. With the support of the Ecological Brigade, a group of more than sixty employee volunteers focused on sustainability, we identify volunteer opportunities, develop webinars, share informational materials, and host events throughout the year.    

Employee Commuting

We have worked with external consultants to develop a model that factors in our return to office framework, geographic location, typical modes of transport, and number of employees to estimate employee commuting GHG emissions for our global office footprint.
In 2022, we implemented a 3/2 + 2 return to office framework - open to any employee who can perform work outside of the office and whose role does not require routine weekly travel, such as our sales associates. As part of this framework, Tuesday, Wednesday and Thursday are standard “in office days,” and employees have the option to work from home on Mondays and Fridays.  Our “+2” policy enables employees to work remotely for two full weeks of their choosing each year.

In addition to other benefits, this policy reduces the number of employees commuting to our offices and the corresponding GHG emissions associated with that travel. We support our employees’ use of electric vehicles by purchasing and installing electric car charging stations at our company-owned buildings and offering similar options at our leased facilities. Additionally, access to public transportation is a factor in our building selection process.
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Business Travel

We work with our travel partners, to calculate the GHG emissions associated with our business travel. To reduce our business-travel related emissions, Equifax policy discourages business travel for internal, non-customer meetings and encourages the use of technology alternatives.
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GHG Emissions Data & Metrics

Total Scope 1 & 2 Emissions (Net) (2019–2023)
As detailed above, we have reduced our combined scope 1 and 2 net emissions each year since 2019, with a 51% decrease between 2019 and 2023, and a 28% decrease between 2022 and 2023.
 

2023

In 2023, we reduced our combined scope 1 and 2 net GHG emissions by 28% compared to 2022, primarily by increasing investments in renewable energy and decommissioning 7 data centers as part of our ongoing Equifax Cloud technology transformation. Our efforts to move into more energy-efficient office spaces also had a positive impact on our scope 1 and 2 emissions, although most of these gains were offset by the increased footprint from our acquisitions during 2023.

In 2023, we decreased our scope 3 emissions by 3% compared to 2022, most notably in the areas of purchased goods and services, capital goods and business travel. As a result of our ongoing Equifax Cloud technology transformation, we shifted spend from on-premise data center providers to more energy efficient cloud-based providers. During 2023, we also converted a number of contractors into full-time employees, thereby reducing consulting spend and the associated purchased goods and services emissions compared to 2022. As for business travel, our corporate policy of discouraging non-essential travel was widely followed across the company, resulting in a decrease in our accompanying emissions in 2023 compared to 2022.

  

Overview of Climate-Related Targets

Equifax is committed to reaching net-zero GHG emissions by 2040 along a science-based pathway. In support of that goal, we have set near-term emission reduction targets, which were validated by the Science-Based Targets Initiative (SBTi) in 2023. Under our target ambitions, we have committed to reduce absolute scope 1 and 2 greenhouse gas emissions 54.6% by 2032, from a 2019 base year. We have also committed that 73% of our suppliers by spend, covering purchased goods & services and capital goods (scope 3), will have science-based targets by 2027. SBTi has determined that our global operational footprint (scope 1 and 2) target ambitions are in line with the Paris Agreement’s 1.5℃ goal, currently the most ambitious designation available through the SBTi process.

2023 Progress vs. Near-Term GHG Targets

Progress vs. Scope 1 & 2 Targets

As a data, analytics and technology company, our scope 1 and 2 emissions result primarily from the operation of our office facilities and data centers. We are working to reduce our scope 1 and 2 emissions by: (i) converting our scope 1 and 2 inventory to scope 3 by decommissioning our data centers and migrating to cloud-based service providers as part of our Equifax Cloud transformation; (ii) enhancing the energy efficiency of our workplaces; and (iii) investing in renewable energy. 

Progress vs. Scope 1 and 2 Targets

We have set an SBTi-approved target to reduce absolute scope 1 and 2 greenhouse gas emissions 54.6% by 2032, from a 2019 base year. As a result of our decarbonization efforts, we have decreased our scope 1 and 2 emissions by 51%, representing significant progress toward our near-term reduction target of 54.6% by 2032.
 

Progress vs. Scope 3 Target

We have set an SBTi-approved supplier engagement target that 73% of our suppliers by spend, covering purchased goods & services and capital goods (scope 3), will have science-based targets by 2027. As of year end 2023, 56% of our suppliers have set science-based emission reduction targets, reflecting meaningful progress from our 2021 baseline of 20%. 

For Equifax, our most significant scope 3 emissions come from the purchase of goods and services and capital goods. Our 2023 progress toward meeting our 2027 supplier engagement target was driven by two primary factors. First, during 2023, we continued to migrate data from on-site data centers to third party cloud service providers (such as Google), many of which have already set science-based emission reduction targets. (As we continue to migrate additional data centers to the Equifax Cloud, we expect to increase the percentage of spend with suppliers that have set science-based commitments.) Second, many of our other (non-cloud service provider) suppliers set science-based targets in 2023 as part of a broader movement among large U.S. public companies to support global decarbonization efforts.

Disclaimer

This webpage contains information that may constitute “forward-looking statements.” Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will,” “may” and similar expressions identify forward-looking statements, which generally are not historical in nature. All statements that address operating or environmental performance and events or developments that we expect or anticipate will occur in the future, including statements relating to future operating results, plans for reducing our environmental footprint, reducing greenhouse gas emissions, improvements in our IT and data security infrastructure, our strategy, changes in U.S. and worldwide economic conditions, and similar statements about our outlook and our plans are forward-looking statements. We believe these forward-looking statements are reasonable as and when made. However, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in our most recent Annual Report on Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission. As a result of such risks and uncertainties, we urge you not to place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Last updated:  March 22, 2024
You should assume that the information appearing in this webpage is accurate only as of the date it was last updated.