Procore’s Inaugural Environmental, Social and Governance Report Highlights Commitment to Building a Sustainable Future
Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced the release of its 2022 Environmental, Social and Governance (ESG) Report, which highlights the company’s guiding principles, efforts and aspirations related to ESG.
“Since Procore’s inception, our vision has been to improve the lives of everyone in construction, and we remain deeply committed to driving the industry forward and supporting the people who build our communities,” said Tooey Courtemanche, Founder, President, and CEO of Procore. “With today’s construction technology, it’s no longer just about building, but about building better and leaving a legacy behind for future generations, which is why we are proud to share our first ESG Report.”
The ESG Report unveils Procore’s four ESG pillars: Environmental Stewardship, Our People, Social Impact and Responsible Business Practices. Key highlights from the ESG Report include:
Building a Better World
● Providing customers with construction management software that helps reduce construction waste, mitigate the risk of rework and enable safer jobsites with improved quality control.
● Offering integrations for ESG tools through the Procore App Marketplace to enable customers to measure and understand their sustainability data.
Our People and Communities
● Educating the next generation of future construction professionals by providing free Procore access to 97% of American Council for Construction Education accredited undergraduate construction management programs.
● Partnering with 107 new organizations to donate Procore products, and donating $250,000 to our Historically Black Colleges and Universities Scholarship Fund in partnership with the Association of General Contractors of America, in 2021.
Governance and Responsible Business Practices
● Establishing oversight and management of ESG at multiple levels of the company, from the Board of Directors to a cross-functional ESG Committee that develops and drives ESG initiatives across our business operations.
● Driving board diversity, with 44% of the Board of Directors identifying as female.
“At Procore, we’re committed to promoting sustainability through our environmental stewardship, social initiatives and corporate governance practices,” said Ben Singer, Chief Legal Officer, Corporate Secretary and Executive Sponsor of Procore’s ESG Committee. “While we have a lot of important work ahead of us, this inaugural ESG Report provides a valuable baseline for us to measure against and marks an important first step on our journey as we continue to work toward a more socially responsible and climate-conscious future.”
The disclosures in the ESG Report incorporate the Sustainability Accounting Standards Board’s Standards for the Software and Information Technology Services industry and address several United Nations Sustainable Development Goals. To learn more about Procore’s ESG efforts and to view the full ESG Report, please visit Procore’s investor relations website at https://investors.procore.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about Procore and its industry that involve substantial risks and uncertainties. All statements in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or future financial or operating performance, and may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will” or “would,” or the negative of these words, or other similar terms or expressions that concern Procore’s expectations, strategy, plans or intentions.
Procore has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends that Procore believes may affect its business, financial condition, and operating results. The outcome of the events
described in these forward-looking statements is subject to risks, uncertainties, and other factors that could cause results to differ materially from Procore’s current expectations, including, but not limited to, our ESG commitments, plans, policies and initiatives, and as set forth in Procore’s filings with the Securities and Exchange Commission. You should not place undue reliance on Procore’s forward-looking statements. Procore assumes no obligation to update any forward-looking statements to reflect events or circumstances that exist or change after the date on which they were made, except as required by law.
