HubSpot Accelerates Climate Commitment with 2040 Net-Zero Carbon Pledge

HubSpot, the customer platform for scaling businesses, is taking urgent climate action, and proudly announces that its near and long-term science-based emissions reduction targets (SBTs) have been approved by the Science Based Targets Initiative (SBTi). As part of the validation, HubSpot has committed to reaching net-zero greenhouse gas emissions across its value chain by 2040.

With SBTi's validation, HubSpot, recently named one of America's Greenest Companies by Newsweek, joins just over 400 companies that have boldly committed to reaching net-zero on or before 2040.

"Having our targets validated by the Science Based Targets initiative is an important milestone on our climate journey, and one step towards a net-zero carbon future," said Yogesh Chauhan, Director of ESG at HubSpot. "The climate crisis requires collective action and bold solutions, and we're committed to working with our customers, partners, and the wider tech industry to build a brighter future for generations to come."

HubSpot's validated SBTs, aligned with our commitment to reaching net-zero carbon by 2040, are:

Near-Term Targets

• Reduce absolute scope 1 and 2 greenhouse gas emissions by 47% by 2030 from a 2019 base year.
• Reduce scope 3 greenhouse gas emissions from business travel 55% per employee by 2030 from a 2019 base year.
• Ensure that 70% of our suppliers, by spend covering purchased goods and services and capital goods, will have science-based targets by 2027.

Long-Term Target

• Reduce absolute scope 1, 2 and 3 greenhouse gas emissions 90% by 2040 from a 2019 base year.

To amplify impact, HubSpot's commitment extends beyond its own operations to its relationship with employees, customers, partners, and communities. HubSpot's commitment to net-zero carbon involves three key areas:

• Making our buildings sustainable. HubSpot is taking concrete steps to align its facilities with the goals of the Paris Agreement, including switching to renewable energy, optimizing office space, installing energy-efficient technologies, and introducing sustainability criteria in new building leases. In Dublin, solar panels on the roof of HubSpot House produce 16,000 kWh annually and generate a considerable amount of green electricity, even on a rainy day.

• Providing resources for employees to reduce their carbon footprint. Employees play a vital role in reaching sustainability goals and HubSpot is dedicated to striking a balance between fostering connectivity across its hybrid workforce and minimizing people's carbon footprint.
  
  Launched earlier this year, HubSpot's internal Carbon Calculator quiz is aimed at making hybrid work more sustainable and helps employees understand and address their carbon footprint. After reviewing her quiz results, HubSpotter Cameron Bruns Ewing made a pledge to be more energy efficient by turning off her laptop and monitor at the end of each day and reducing the number of screens she uses. Having the results of her quiz gave Cameron an opportunity to think critically about her workflow and how she could reduce emissions, even in a small way.

• Working with our suppliers to achieve a low-carbon economy. To increase impact beyond its own operations, HubSpot works with suppliers who have like-minded sustainability goals and encourages them to set science-based targets while working with customers and partners on their own sustainability journeys.

Kristin Hostetter, Head of Sustainability, Outside Interactive, said, "At Outside, sustainability is at the forefront of our mission and we are committed to reducing our carbon footprint. To get there, we focus on addressing the carbon intensity of our business and working closely with our vendors and partners to bring more renewable energy into our supply chain. As a HubSpot customer, it's been invaluable to learn about HubSpot's path to net-zero as we pursue our own decarbonization journey."

The next decade is critical in addressing the impact of climate change, and HubSpot can't tackle it alone. HubSpot is dedicated to following the latest climate science, partnering with companies that share its goals, and openly sharing learnings along the way. HubSpot hopes to inspire others to set their own climate targets in the path towards a net-zero future together.

Learn more about HubSpot's efforts to invest in climate action and build a company future generations would be proud of in the company's 2023 Sustainability Report.

About HubSpot

HubSpot (NYSE: HUBS) is the customer platform that helps your business grow better. HubSpot delivers seamless connection for customer-facing teams with a unified platform that includes AI-powered engagement hubs, a Smart CRM, and a connected ecosystem with over 1,500 App Marketplace integrations, a community network, and educational content from HubSpot Academy. Today, over 184,000 customers, like DoorDash, Reddit, Eventbrite, and Tumblr, across more than 120 countries use HubSpot to attract, engage, and delight customers. Learn more at www.hubspot.com.

HubSpot has been recognized for its award-winning culture by Glassdoor, Great Place to Work, Comparably, Fortune, Entrepreneur, Inc., and more. HubSpot was founded in 2006 and is headquartered in Cambridge, Massachusetts. The company's thousands of employees work across the globe in HubSpot offices and remotely.

About SBTi

The Science Based Targets initiative (SBTi) is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in emissions reductions and net-zero targets in line with climate science. It provides technical assistance and expert resources to companies who set science-based targets and brings together a team of experts to provide companies with independent assessment and validation of targets.

Cautionary Language Concerning Forward-Looking Statements

This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our climate strategy and goal to reach net-zero carbon, our goal to reduce our carbon emissions, our employee recruiting and retention plans (including with respect to our Connect4 initiative), our plans to build a global end-to-end procure-to-pay process, our plans and goals with respect to data transparency and control tools, and other statements regarding our ESG goals, commitments, strategies, results, and related business and stakeholder impacts. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "goal," "target," "aim," or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including the risks set forth under the caption "Risk Factors" in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2022, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, and subsequent reports we file with the SEC. Any forward-looking statements contained in this press release represent our views only as of the date hereof and should not be relied upon as representing our views as of any subsequent date. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.