Equinix achieves 96% renewable energy coverage in new report
Equinix, the digital infrastructure company, has released its 2022 Sustainability Report. The report outlines the progress that Equinix has made towards its key environmental, social and governance (ESG) goals.
Equnix's Future First strategy is driven by its resolve to set ambitious targets, measure and transparently report progress, lead with ethics and integrity, and engage with stakeholders to drive change.
This strategy is focused on the United Nations Sustainable Development Goals (UNSDGs) that align with Equinix's vision. These goals are centred around Industry, Innovation and Infrastructure; Climate Action; Affordable and Clean Energy; Decent Work and Economic Growth; Reduced Inequalities; and Gender equality.
The most notable finding from the report was the achievement that Equinix has reached a 96% renewable energy coverage of its operational load for 2022. This makes it the fifth consecutive year that Equinix has had over 90% renewable energy coverage. It reflects a 10% year-over-year increase in procurement of renewables on a GWh basis by Equinix.
Equnix's environmental goals
Looking specifically at the environmental section of ESG, there were a number of findings that the report revealed.
Equinix reports that it achieved, for the first time, the highest ranking of the CDP's prestigious 2022 "Climate Change A List". It also became the first digital infrastructure company to commit to optimising operating ranges within its data centres to improve data centre efficiency and power usage effectiveness (PUE).
The company also made progress towards its goal of engaging 66% of its suppliers by qualified emissions to set a Science-Based Target (SBT) by 2025, with 17% of Scope 3 emissions now covered by supplier-set targets.
Improvements in the social space
In the social space, the report highlighted the launch of the Equinix Foundation. The Equinix Foundation, with a financial contribution of $50 million, is aimed at advancing digital inclusion globally.
The foundation will achieve this by both providing access to technology and connectivity, and fostering the development of skills needed to thrive in the digitally driven world of today.
The company also made progress toward its five-year diversity goals. The report showed a 13% increase in the number of women employees globally. There was also a 20% increase in Black/African American employees in the United States over the last year.
Equinix also achieved a 37% increase in employees volunteering globally, with the company tracking 22,760 employee volunteer hours globally.
"Equinix believes in the future of possibility—a future where our planet is healthy, our global communities thrive, and every business leads with purpose. We believe the opportunity for our company remains strong as we continue to see our customers look to Platform Equinix as a key partner in advancing their digital transformation agenda, sustainably," says Keith Taylor, Chief Financial Officer, Equinix.
"We are proud of what we've achieved thus far and look forward to continuing to make further progress in 2023 and beyond as we press our competitive advantage."
Advances to governance goals
In the governance area, Equinix was recognised for the second year in a row by the CDP for its supplier engagement practices. It also became one of the first digital infrastructure 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.
This initiative is aimed at holding the company's leaders accountable for achieving both environmental and diversity objectives.
Equinix also increased the diversity represented on its corporate Board of Directors, with three out of the four most recent additions self-identifying as women and/or ethnically diverse.
