New Relic Releases ESG Impact Report for Fiscal Year 2023
July 11 2023 - 9:00AM
Business Wire
Highlights include being the first
observability company to set a goal to achieve net-zero greenhouse
gas emissions by 2030
New Relic (NYSE: NEWR), the observability company, published its
second annual environmental, social, and governance (ESG) 2023
Impact Report. The report highlights the company’s progress in
executing its ESG strategy, including being the first observability
company to set a goal to achieve net-zero greenhouse gas (GHG)
emissions by 2030. It also details how the company is expanding
access to the New Relic observability platform by donating $8.5
million in product and discounts to nonprofits, completing its
transition towards becoming a Flex First company, and consolidating
the management of data security issues.
“As New Relic turns 15 years old, we celebrate our growth and
achievements in observability while we build a more equitable and
sustainable future,” said New Relic CEO Bill Staples. “We
have deepened our resolve to keep ESG at the heart of our company
strategy and culture, and to democratize access to observability
for the world’s 27 million engineers. Looking ahead, we are
continuing our focus on software integrity, strengthening and
refining our policies around AI, lowering our GHG emissions, and
investing in pay equity.”
Progress in Fiscal Year 2023 includes:
- Climate strategy: Set a goal to achieve net-zero
greenhouse gas emissions by 2030. New Relic submitted a commitment
to set GHG emissions reductions targets 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.
- Building a more diverse, equitable company:
Tracked a 15-20 percentage point decrease in turnover among all
regions, ages, and genders, and doubled Black representation among
its leaders in 2023. Deepened its work to create more career
development opportunities across historically underrepresented
groups, including Hispanic/Latinx and women-identifying people in
its workforce.
- Introduced resources to support Transgender employees:
Published a Gender Transition and Inclusion Support Policy and
developed a self-paced training for all employees to shed light on
how to support transitioning Relics.
- Centralized management of data security and trust
issues: A newly integrated Security, Legal, and Compliance
(SLC) team more deeply weaves data security into engineering, and
updates and streamlines documentation, policies, and
procedures.
- Expanded impact programs and funding: Exceeded its
employee participation goal, with nearly 76% of Relics
participating in volunteering or giving campaigns. Donated $8.5M in
product and discounts to nonprofits and committed $100,000 of
unrestricted funding for nonprofits to use in building their tech
capacities, through the launch of a new Impact Fund.
Looking ahead, New Relic is committed to furthering its ESG
commitments and expects to:
- Enhance its commitment to pay equity.
- Promote sustainable productivity, refresh its Flex First team
agreements, and launch its Thriving in Flex First Playbook.
- Continue to secure the integrity of its software and services
and the enhancement of controls over the software development
lifecycle. As it continues its industry-first innovation with New
Relic Grok, it will continue to strengthen and refine its policies
around AI use in a variety of potential use cases.
- Continue to purchase removals and renewable energy for its
Scope 1, 2, and 3 emissions based on its FY23 footprint, submit
SBTi near-term targets, and set efficiency targets for all cloud
applications.
- Pilot a new skills-based volunteer program that supports its
community partners and the New Relic for Students program, and
continue to partner with organizations that share its mission and
promote open source projects and standards.
- Maintain the highest standards of corporate governance, ethics,
and integrity. New Relic will continue to stand against corruption,
uphold human rights, and work to ensure transparent, honest, and
fair communication with its customers.
To learn more about New Relic’s approach to ESG, please visit
the website.
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, and the associated blog post and website,
contains “forward-looking” statements, as that term is defined
under the federal securities laws, including but not limited to
statements regarding New Relic’s ESG initiatives and goals and its
ability to achieve them, its expectations regarding industry
trends, and its strategic and operational goals and its ability to
achieve them. 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 post
is included in the filings New Relic makes with the SEC from time
to time, including in New Relic’s most recent Form 10-K,
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/20230711714553/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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