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Elastic Releases Second Annual Sustainability Report

Published: 2023-06-21 13:05:00 ET

Report highlights progress toward embedding sustainability into the business, including 40% reduction in greenhouse gas emissions intensity

SAN FRANCISCO--(BUSINESS WIRE)-- Elastic® (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch®, has released its second annual Sustainability Report, highlighting its progress in 2022 and commitment to operating ethically, minimizing its environmental impact, and creating a more inclusive society.

The report details the company’s programs, processes, and measurement frameworks to embed sustainability into its business.

“Elastic is committed to sustainability and contributing to our customers' efforts to help build a resilient future for society,” said Ash Kulkarni, CEO, Elastic. “With our continued sustainability mindset backed by our distributed-by-design approach, we made strong progress in 2022, managing Elastic's carbon impact even as we have grown as a business.”

The report highlights include:

Environmental Elastic measured its emissions for the first time, including Scope 1, Scope 2, and all relevant categories of Scope 3 emissions1. The company also committed to establishing greenhouse gas (GHG) reduction targets in line with climate science with the Science Based Targets Initiative (SBTi), the leading authority on rigorous and meaningful corporate climate targets. Even with significant company growth and increased headcount from fiscal years 2020 to 2022, Elastic reduced its electricity consumption by more than 8% and greenhouse gas emissions intensity by 40% over the same timeframe2.

Social Social activities focused on diversifying Elastic’s candidate and leadership pipelines with the new 2% Workforce Diversity Pledge, growing its onboarding and talent development offerings, building out its benefit programs to prioritize inclusivity, relevance, flexibility, and choice, and expanding its Diversity, Equity, and Inclusion (DEI) initiatives. In addition, Elastic deepened its community impact efforts through the Elastic Cares program, which includes employee donation matching, volunteer incentive programs, and non-profit organization grants. As part of Elastic Cares, the company also added a new Dollar for Doers program in 2022 to recognize and reward Elastic employees' volunteer efforts.

Governance Elastic hired its first Director of Sustainability and ESG, a dedicated leader for the company’s sustainability initiatives, including a climate change strategy and alignment with reporting frameworks.

Product Societal Impact Elastic partnered with non-profit organizations and for-profit companies that are using their software for societal good. They included organizations improving the delivery time of medical supplies, such as vaccines and personal protective equipment during the COVID-19 pandemic, helping the Government of Rwanda implement data-driven decision-making to improve public health and social protection projects, and enabling a European waste management company to improve its data security, reduce its energy consumption, and minimize its overall carbon footprint.

Read the full Elastic 2022 Sustainability Report here.

This document provides Elastic’s ESG data for the period January 1, 2022, through December 31, 2022, unless otherwise noted. References to fiscal year (FY) indicate that associated data is for the 12-month period ending April 30 of that year; for example, fiscal year 2022 (FY22) refers to May 1, 2021, through April 30, 2022.

About Elastic

Elastic (NYSE: ESTC) is a leading platform for search-powered solutions. Elastic understands it’s the answers, not just the data. The Elasticsearch platform enables anyone to find the answers they need in real-time using all their data, at scale. Elastic delivers complete, cloud-based, AI-powered solutions for enterprise security, observability and search built on the Elasticsearch platform, the development platform used by thousands of companies, including more than 50% of the Fortune 500. Learn more at elastic.co.

Elastic and associated marks are trademarks or registered trademarks of Elastic N.V. and its subsidiaries. All other company and product names may be trademarks of their respective owners.

1Scope 1 emissions are direct emissions that are owned or controlled by a company, whereas scope 2 and 3 indirect emissions are a consequence of the activities of the company but occur from sources not owned or controlled by it. 2FY20-FY22 Scope 1 and 2 CO2e per full-time employee

View source version on businesswire.com: https://www.businesswire.com/news/home/20230621307432/en/

Elastic Public Relations PR-Team@elastic.co

Source: Elastic N.V.

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