Toast Releases First ESG Overview
Today, Toast released its first Environmental, Social and Governance (ESG) Overview, which provides baseline ESG metrics and a summary across the following areas: ethics; corporate governance; privacy; security; talent and diversity, equity and inclusion (DEI); and environmental and social impact initiatives.
“We started Toast out of our love for restaurants and a mission to empower every stakeholder across the ecosystem, including owners, operators, employees, guests and suppliers. We are relentlessly focused on supporting our customers and the entire restaurant ecosystem to not only survive, but thrive. Embedding stakeholder impact and ESG into our strategy strengthens this approach, bringing together crucial elements of our business to advance diversity, trust, the well-being of the communities we serve, and our environment.” – Chris Comparato, CEO, Toast
Building a robust, integrated ESG program is core to Toast’s business strategy, and embedded in our continued partnership with all of our stakeholders. This ESG overview is a summary of the initial steps we’re taking to integrate sustainability, governance, equity, and trust into our company, products and services.
It includes core elements that are fundamental to our values:
- Purpose-driven: Our philosophy and actions to support our stakeholder ecosystem, especially through the ongoing pandemic.
- People-focused: How we support the health, well being and career growth of our employees, the core ingredients of our company.
- Diverse and Inclusive: Our employee demographic metrics, and our approach to creating a culture that embraces diversity, and fosters belonging and growth.
- Trust and Integrity: The privacy and security policies, practices, oversight, and certifications we use to protect customer and guest information, and our corporate governance, code of conduct and board demographics.
In the past year, Toast has allocated resources to:
- Develop ESG as a strategic priority, including setting up the oversight and management of sustainability and ESG, from the board to executive sponsors to a cross-functional ESG leadership committee that partners with teams throughout the company to drive progress across the Toast ecosystem.
- Maximize social impact through Toast.org by joining Pledge 1% and making our first stock contribution, representing a fair market value of ~$19 million at the time of contribution, to the Toast.org Impact Fund to help address critical issues in the food system that impact people and the planet.
- Be a steward for the environment by conducting our first greenhouse gas inventory as we start to build a path to net zero carbon emissions.
Toast's ESG Overview leverages global best practices, aligning with metrics from the Sustainability Accounting Standards Boards (SASB) standards. This initial overview provides a baseline of the programs and metrics we will continue to build upon over time. As we continue on this journey, we are committed to advancing our ESG strategy, identifying areas to reduce risks, maximize our positive impact across our stakeholder ecosystem, and build additional resilience into our business, and the industry and communities we support. We plan to evolve and advance our disclosures and provide updates as we progress on this journey.
Toast’s vision is to enrich the food experience for all. Our ESG work, like our products and services, is essential to achieving that vision. It is only together that we will thrive.
FY2021 Toast ESG Overview
Please direct any inquiries to ESG@toasttab.com.
This document contains “forward-looking” statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements about Toast’s ESG commitments and strategy. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Toast’s actual results, performance, or achievements to differ materially from results expressed or implied in this document. Risks that contribute to the uncertain nature of the forward-looking statements include, among others, risks listed or described from time to time in Toast’s filings with the Securities and Exchange Commission. Any forward-looking statements contained in this document are based on assumptions that Toast believes to be reasonable as of this date. Except as required by law, Toast assumes no obligation to update any statement included in this document.