New Relic releases ESG Impact Report for Fiscal Year 2023
New Relic, the observability company, has 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 USD $8.5 million in products and discounts to nonprofits, completing its transition towards becoming a Flex First company, and consolidating the management of data security issues.
Bill Staples, New Relic CEO, says: "As New Relic turns 15 years old, we celebrate our growth and achievements in observability while we build a more equitable and sustainable future."
"We have deepened our resolve to keep ESG at the heart of our company strategy and culture and democratise observability access 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," says Staples.
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 reduction targets to the Science Based Target initiative (SBTi), joining the more than 2,200 companies worldwide, 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% 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 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.
● Centralised 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 AUD $8.5 million in products and discounts to nonprofits and committed AUD $100,000 thousand 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. It 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.
Additionally, New Relic will continue to secure the integrity of its software and services and enhance controls over the software development lifecycle. As it continues its industry-first innovation with New Relic Grok, it will strengthen its policies around AI use in various potential use cases.
New Relic will also 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.
Furthermore, the company will pilot a new skills-based volunteer program supporting its community partners and the New Relic for Students program. It will continue to partner with organisations that share its mission and promote open-source projects and standards.
Lastly, it is a high priority to 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.