Artnet AG
Climate Impact & Sustainability Data (2020, 2021, 2022)
Reporting Period: 2020
Environmental Metrics
Total Energy Consumption:57,372 USD (2020)
ESG Focus Areas
- Environment
- Social
- Governance
Environmental Achievements
- Reduced electricity use by approximately 18% from 70,267 USD in 2019 to 57,372 USD in 2020 due to efficient data storage and shift to working from home.
Social Achievements
- Launched charity auctions benefiting organizations promoting equality, helping the homeless, and assisting emerging artists.
- Employee satisfaction survey showed 50% value ease of working with colleagues, 70% can easily work from home, 93% established good work-from-home routines, 40.9% very satisfied with efficient home working, and 35% very likely to recommend Artnet.
Governance Achievements
- Complied with German Corporate Governance Code recommendations with specified exceptions.
- Extended CEO's contract until July 1, 2024.
Climate Goals & Targets
Long-term Goals:
- Implement long-term changes to limit carbon emissions and transact more efficiently.
Medium-term Goals:
- Offer B2B customers a sustainable platform to conduct most of their business by 2025.
- Offer at least five charity auctions per year by 2025.
Short-term Goals:
- Increase employee satisfaction to 70% by 2025.
- Support at least two local charities in each office city by 2025.
Environmental Challenges
- COVID-19 pandemic causing global economic downturn and impacting the art market.
- Supply chain disruptions and reduced advertising budgets.
- Cybersecurity risks increased due to the shift to online transactions.
Mitigation Strategies
- Secured a loan from the U.S. Small Business Administration (partially forgivable).
- Migrated all apps and internal systems to Google Cloud for enhanced security and resilience.
- Launched Artist Alerts to drive traffic to gallery members.
- Adjusted financial plan to account for revenue declines and implemented cost savings.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2021
Environmental Metrics
Total Energy Consumption:60,974 USD (electricity cost)
ESG Focus Areas
- Employee satisfaction
- Philanthropy
- Environmental sustainability
- Data protection and compliance
- Sustainable business practices within the art industry
Environmental Achievements
- Reduced electricity consumption due to efficient data storage and shift to home offices (though this was partially offset by higher energy prices).
Social Achievements
- Increased employee satisfaction to 70% (exceeding the 2025 goal), with 57% very likely to recommend Artnet.
- Donated to City Harvest and The Bowery Mission.
- Partnered with Free Arts NYC.
- Hosted charity auctions benefiting GLSEN and City Harvest.
Governance Achievements
- Maintained state-of-the-art, cloud-based systems that remained 100% operational despite increased website traffic.
- Followed recommendations of the German Corporate Governance Code.
Climate Goals & Targets
Long-term Goals:
- Implement long-term changes to business practices to limit carbon emissions and transact more efficiently.
- Educate B2B clients about sustainable business practices.
Medium-term Goals:
- Increase employee satisfaction to 80% by 2025.
- Provide financial or non-financial support to at least two local charities in all cities with operations by 2025.
- Offer at least five charity auctions or events per year by 2025.
Short-term Goals:
- Stabilize high level of employee satisfaction in 2022.
Environmental Challenges
- Cybersecurity risks, specifically data breaches and data theft.
- Maintaining high employee satisfaction in a remote work environment.
Mitigation Strategies
- Maintaining state-of-the-art, cloud-based systems.
- Regular employee satisfaction surveys and open communication.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Employee satisfaction
- Philanthropy
- Environmental sustainability
- Data protection and compliance
- Diversity and inclusion
Environmental Achievements
- Reduced electricity costs through efficient data storage and work-from-home transition
Social Achievements
- Achieved 70% employee satisfaction in 2021 (goal set for 2025)
- Supported various charities including City Harvest, The Bowery Mission, NYFA, and Herfeh:Honarmand
- Conducted anonymous employee satisfaction surveys resulting in high scores across various metrics (e.g., 75.4% highly engaged, 67.88% women employees)
Governance Achievements
- Implemented measures to ensure a safe and fair working environment (anonymous help center, mandatory harassment training)
- Follows recommendations of the German Corporate Governance Code
Climate Goals & Targets
Long-term Goals:
- Implement long-term environmentally sustainable business practices to limit carbon emissions and improve efficiency
- Educate B2B clients about sustainable business practices within the art industry
Medium-term Goals:
- Increase employee satisfaction to 80% by 2025
- Support at least two local charities in each office city by 2025
- Offer at least five charity auctions or events per year by 2025
Short-term Goals:
- Stabilize high level of employee satisfaction in 2023
Environmental Challenges
- Cybersecurity risks, specifically data breaches and data theft
Mitigation Strategies
- Maintaining state-of-the-art, cloud-based systems