New Relic (NYSE: NEWR), the observability company, published its inaugural environmental, social, and governance (ESG) 2022 Impact Report. The report encompasses 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.
“As a leader in observability, New Relic is proud to deepen our commitment to ESG so that we can continue to tackle the challenges and seize the opportunities facing our industry,” said New Relic CEO Bill Staples. “Our ESG program and inaugural report have been woven into the fabric of our company strategy, culture, and vision. We aim to build upon our commitment to ESG with even greater transparency and accountability and to inspire our peers across the industry to do the same.”
ESG initiatives have long been an organizational priority for New Relic. The launch of the 2022 Impact Report and formal ESG practice represents the culmination of years of this work. As a data-driven organization, New Relic has incorporated ESG into its technology, people, and business strategies, deepening transparency and rigor around ESG in order to remain accountable to steady improvement. Highlights from the Fiscal Year 2022 report include:
- Embracing diversity, equity, and inclusion: A commitment to recruiting, hiring and promoting team members from diverse backgrounds resulted in significant achievements in pay equity across gender and race. Additionally, New Relic made progress increasing workforce representation across Black and Hispanic employees in the U.S., and of women company-wide.
- Building a privacy and security culture: HITRUST certification adds to the company’s growing number of relevant data security standards and certifications we adhere to, including ISO 27001, SOC2, FedRAMP Moderate and TISAX.
- Increasing affordable access to technology: Donated $6.5 million in free and discounted products to nonprofits and charities around the world. Additional actions taken include the launch of New Relic Student Edition — a program offering an expanded free tier of New Relic for students — and continued investments and contributions to the open source community.
- Advancing sustainability: Implemented environmental management software and undertook a GhG Emissions review of the last three years in order to benchmark Scope 1, 2, and 3 emissions from pre-pandemic to present day. Through this process the company aims to better understand operational impacts and create a strategy to measure carbon emissions.
New Relic is committed to furthering its ESG commitments and expects to:
- Increase representation, development, and retention of underrepresented Relics in the workforce and provide ongoing education that promotes inclusion, including “Building a Better New Relic for Transgender Relics,” an on-demand workshop that educates managers and employees on inclusive language, behaviors, and tools needed to successfully support transitioning Relics.
- Continue to provide data privacy and sector-specific compliance programs across our product suite as privacy and related regulations evolve globally.
- Continue to focus on software supply chain security and protecting services on the platform.
- Grow employee participation in social impact efforts to 70% in fiscal 2023, as well as launch a grantmaking program to distribute $100,000 of unrestricted funding for nonprofits to use in building their technological capacity.
- Develop a climate strategy and move completely out of data centers to become entirely cloud-based.
- Learn more about New Relic’s ESG practice and hear additional insights from New Relic CEO Bill Staples
- First annual Global Impact Report 2022
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 ESG initiatives and future goals. 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-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.
New Relic, Inc.
New Relic, Inc.