New Relic Announces Goal for Net-Zero Greenhouse Gas Emissions by 2030
March 02 2023 - 9:00AM
Business Wire
Commits to science-based goals by submitting
near-term emissions reduction targets to Science Based Target
initiative (SBTi)
New Relic (NYSE: NEWR), the all-in-one observability platform
for every engineer, announced its goal to achieve net-zero
greenhouse gas (GHG) emissions by 2030 and a commitment to set
near-term science based GHG emissions targets. New Relic’s GHG
emissions targets will be submitted to the Science Based Target
initiative (SBTi), joining the more than 2,200 companies worldwide
that are leading the transition to a net-zero economy through
emissions targets grounded in climate science.
With this announcement, New Relic is the first observability
company to set a net-zero emissions by 2030 goal and aims to
inspire its peers in the industry to do their part in reducing
global GHG emissions and building a resilient, zero-emissions
economy. New Relic believes that by adhering to science-backed
emissions targets, the business will be well-positioned for
long-term growth and competitive differentiation in the market,
while doing its part to slow climate change and pave the path
toward decarbonization.
“We have spent the past three years transforming our product and
business model. Establishing science-based climate goals is the
right decision and next step as we continue to future-proof our
business,” said New Relic CEO Bill Staples. “This also
allows us to evolve alongside our global customers who are making
similar strides toward a net-zero future and consider it a
must-have when choosing their technology providers.”
By selecting 2030 as the target, New Relic is allowing for
rigorous work around achieving and maintaining its goals through
operational reductions and high quality carbon removals. This
target aligns with guidance from the Intergovernmental Panel on
Climate Change (IPCC), who warned that global warming must not
exceed 1.5 degrees Celsius above pre-industrial temperatures by
2040 to avoid the most catastrophic impacts of climate change.
Focus areas for reductions include:
- Vendor Engagement on Climate - Work with vendors across
their operations to understand and reduce their emissions.
- Internal Efficiencies and Tracking - Continue to improve
GHG emissions calculation with Watershed Climate to have a
fine-grained understanding of the company’s footprint
worldwide.
- Reduced Operational Footprint - Continually assess the
operational footprint and ensure climate is part of its business
criteria when it comes to operations.
- Internal Policy Setting - Introduce and update internal
policies across the business to ensure climate is a shared
responsibility.
Recent emissions successes include:
- Purchased reforestation credits from Trees for Global Benefits
in Uganda to remove 100% of the carbon dioxide associated with New
Relic global offices’ natural gas usage.
- Purchased renewable energy certificates representing 100% clean
energy for New Relic global offices and employee WFH footprints.
These included US Green-E certified renewable energy certificates
from the Lindahl Wind Project and international energy attribute
certificates from locally-sited projects aligned with New Relic’s
international footprint.
New Relic is taking additional steps as part of its broader,
comprehensive climate strategy. This includes reviewing its GHG
emissions inventory with Watershed Climate, developing a plan to
reduce emissions for facilities and assets, setting incremental
targets, and reporting on its progress. New Relic is focused on
improving the efficiency of its own cloud use and inspiring its
customers, partners, and suppliers to do the same. New Relic has
also contributed the Cloud Optimize app to the open source
community to help organizations optimize cloud services, reduce
costs, and improve the efficiency of their cloud usage.
New Relic released its inaugural ESG impact report in July 2022.
The report encompassed New Relic’s approach to ESG, including
making significant achievements in pay equity across race and
gender, obtaining HITRUST certification to strengthen data security
and privacy, measuring Scope 1, 2 and 3 greenhouse gas emissions,
and providing more than $6.5 million in product and discounts to
nonprofits and students to expand equitable access to
technology.
To learn more about New Relic’s approach to ESG, please visit
https://newrelic.com/about/environmental-social-governance.
About New Relic
As a leader in observability, New Relic empowers engineers with
a data-driven approach to planning, building, deploying, and
running great software. New Relic delivers the only unified data
platform that empowers engineers to get all telemetry—metrics,
events, logs, and traces—paired with powerful full stack analysis
tools to help engineers do their best work with data, not opinions.
Delivered through the industry’s first usage-based consumption
pricing that’s intuitive and predictable, New Relic gives engineers
more value for the money by helping improve planning cycle times,
change failure rates, release frequency, and mean time to
resolution. This helps the world’s leading brands including adidas
Runtastic, American Red Cross, Australia Post, Banco Inter, Chegg,
GoTo Group, Ryanair, Sainsbury’s, Signify Health, TopGolf, and
World Fuel Services (WFS) improve uptime, reliability, and
operational efficiency to deliver exceptional customer experiences
that fuel innovation and growth. www.newrelic.com.
Forward-looking statements
This press release contains “forward-looking” statements, as
that term is defined under the federal securities laws, including
but not limited to statements regarding New Relic’s climate
strategy and net-zero emissions goal. The achievement or success of
the matters covered by such forward-looking statements are based on
New Relic’s current assumptions, expectations, and beliefs and are
subject to substantial risks, uncertainties, assumptions, and
changes in circumstances that may cause New Relic’s actual results,
performance, or achievements to differ materially from those
expressed or implied in any forward-looking statement. Further
information on factors that could affect New Relic’s financial and
other results and the forward-looking statements in this press
release is included in the filings New Relic makes with the SEC
from time to time, including in New Relic’s most recent Form 10-Q,
particularly under the captions “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations.” Copies of these documents may be obtained by visiting
New Relic’s Investor Relations website at http://ir.newrelic.com or
the SEC's website at www.sec.gov. New Relic assumes no obligation
and does not intend to update these forward-looking statements,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230302005278/en/
Media Contact Elena Keamy New Relic, Inc. PR@newrelic.com
Investor Contact Ingo Friedrichowitz New Relic, Inc.
IR@newrelic.com
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