Snapchat has published its third annual ‘CitizenSnap Report’, which outlines how the company is progressing towards its various environmental, social, and governance goals, and how it’s also looking to contribute to key aspects of growth and development, to benefit the planet.
As per Snap:
“At Snap, our mission is to contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. Snap is built around our core values of being kind, smart, and creative. From the beginning, we have designed these values into our products and into the way we treat our team, our communities, and our partners. And as we evolve and grow, we hold steadfast in upholding our mission and our values, never losing sight of our foundation.”
The 113-page report is a lot to take in, with a heap of insights and stats on Snap’s performance, and it’s interesting to note the depth of data available on these key goals for the company.
You can download the full 2022 CitizenSnap Report here, but in this post, we’ll take a look at some of the key notes.
First off, within its Executive Summary, Snap provides an overview of the various initiatives that it’s undertaking to address each pillar of its global citizenship plan.
Those pillars relate to four key elements: Society, Planet, People, and Governance.
The report looks at how Snap’s addressing each aspect, with specific highlights on certain elements that have seen bigger impact over the past year.
That includes Snap’s ‘Run for Office’ electoral engagement push, which has helped to improve civic engagement among younger audiences.
Snap also provides in-depth breakdowns of its performance stats on each aspect, including a full track of its carbon emissions.
While it also shares an overview of general usage and impact data, highlighting its reach and scope.
Overall, Snap appears to be progressing towards its longer-term goals on each element, though its efforts may be hampered slightly by more recent revenue impacts, which prompted it to warn the market of lower than projected earnings in Q2 2022.
Snap will slow down hiring as a result, and you would assume that some of these initiatives will see some impact as the company tightens costs, and works to keep its revenue targets in sight.
Even so, it’s good to see Snap taking its commitments seriously, and building a broader, systematic process to help address these key goals.
You can download the full 2022 CitizenSnap Report here.