Toast Releases FY2023 ESG Report

Today, Toast (NYSE: TOST)  the all-in-one technology platform built for restaurants, released its ESG Report providing FY23 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.

“Toast has been dedicated to supporting a vibrant and sustainable restaurant community since Steve Fredette, Jon Grimm and I founded it over a decade ago,” said Aman Narang, CEO and Co-Founder of Toast. “In my first year as CEO, I remain committed to continuing Toast’s foundational work to establish and advance a comprehensive Environmental, Social, and Governance (ESG) strategy — one that offers solutions for our customers, our employees, investors, as well as the broader food community in which we operate.”

This year’s report covers milestones for Toast’s ESG strategy and outlines new initiatives focused on enabling Toast customers to support issues critical to the restaurant and hospitality industry, including:

• Food Waste: Food Waste Reduction (FWR), a new set of features designed to help restaurants measure and manage food waste in their operations, launched in October 2023 and has been adopted by over 1,700 restaurant locations surfacing nearly $5M in lost retail value of food waste by the close of 2023. Toast.org, Toast’s social impact arm, also contributed $1M in catalytic grant funding to our partners at ReFED to advance and pilot new food waste solutions for restaurants.
• Community & Cause Support: The Toast Fundraising feature, released in 2023, enabled Toast restaurants to raise over $1.5M for their causes of choice. And through Toast’s Pledge 1% equity commitment, our Toast.org Impact Fund grew by over $10M.
• Hardware Recycling: After a successful pilot in 2022, Toast expanded our offering of free zero-waste recycling and carbon-neutral shipping for retired Elo V1 and Toast Go® 1 hardware to help our customers join Toast in our efforts toward sustainability.
• DEI: We further engaged leadership to embed our inclusive culture into management practices, with 97% of people managers receiving unconscious bias training in 2023.
• Climate: For the second consecutive year, we achieved net-zero Scope 2 emissions from electricity in our workplaces and this year formally integrated climate-related risks into our enterprise risk management process.

This 2023 report demonstrates the power of the Toast community — from our own team to customers and beyond — to contribute to a thriving, sustainable industry. Looking forward, we plan to continue this important work, developing new ways to leverage our products, people, and philanthropy to help enrich the food experience for all. To find out more, read the full report.

Please direct any inquiries to ESG@toasttab.com.