Boston, MA - Today Toast (NYSE: TOST) released its second ESG Report providing FY22 progress and metrics across the following areas: ethics; corporate governance; privacy; security; talent and diversity, equity and inclusion (DEI); and environmental and social impact initiatives.
“In our first full year as a public company, we worked to quickly build a strong environmental, social, and governance foundation for Toast to help advance a more sustainable and resilient restaurant industry,” said Chris Comparato, Chief Executive Officer of Toast.
“‘Embrace a hospitality mindset’ is one of our core values," Comparato continued. “We’re always listening for where we can support our customers, company and communities with solutions that help them to be more sustainable and resilient. This report is a reflection of our ongoing work to build and execute on a strategy that will create meaningful impact.”
This year’s report includes several firsts that were achieved in 2022, including:
- Net-zero workplace emissions: We achieved a goal of net-zero electricity emissions and 100% renewable energy for our offices and configuration centers for FY22 through utility green power purchase programs and investing in Energy Attribute Certificates. We also completed and shared our second greenhouse gas inventory, with full Scope 3 emissions.
- Diversity, equity and inclusion (DEI) accountability: We shared our DEI demographic data and further codified our commitment by introducing a DEI Scorecard. The compensation committee of our board oversees the Scorecard, and it is part of the bonus plan for all Toast senior leaders.
- Social impact through giving: We distributed over $2 million in grants and donations to non-profit organizations from the Toast.org Impact Fund and Toast employees, and we built a feature into our Toast platform that enables restaurants to fundraise to support their communities.
- Waste: We launched our first pilot to take back and recycle old hardware, as well as a first-of-its-kind platform integration to enable restaurants to offer reusable packaging to their guests.
Over the coming year we’re continuing to build in our core areas, including undertaking climate risk and scenario analysis work towards setting goals.
We’re also expanding research and development resources dedicated to addressing environmental and social challenges for the restaurant industry through our platform.
We’re working to build resilience and sustainability into our company, in the restaurant industry, in communities and in our ecosystem. That’s how we’re all going to thrive.
Read the full report.
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.