ESG Report: Learnings through the lens of ESG
Each year since 2008, we have reported on Environmental, Social and Governance (ESG) matters relevant to our company. In my role, leading the reporting process here at Pitney Bowes, I regularly meet new colleagues who’ve shared that reading through our report confirmed their decision to join our company. This is not surprising. The report, filled with discussions of governance, diversity and inclusion, safety, carbon neutral commitments, community leadership and so much more, is in many ways a strong look at our culture. At Pitney Bowes, we talk openly and often about doing the right thing, the right way. This statement reflects our core values and, day in and day out, centers us throughout everything we do. What prospective and current employees and, for that matter, clients, investors, partners, and community members see in an ESG report are the people of the company.
Today, the practice of reporting has become standard for many companies and for good reason. Whether you want to learn if a company will be a good fit for you, or you’re a client who wants to understand a company’s policies and standards, or an investor interested in responsible business practices, through the lens of ESG you will get to the heart of what matters for a company.
I invite you to read our latest report, which was posted this week. In addition to the points noted below, you’ll gain a deep appreciation for who we are and why each year this is increasingly a go-to read for many.
Here are five things I learned about our team from this year’s report:
We are making progress toward carbon neutrality.
Since announcing our commitment to achieve carbon neutrality by 2040, we have taken further steps to reduce energy consumption, accelerate our move to renewable energy sources and increase the transparency of our reporting.
- In 2019, we set a goal of procuring at least 20 percent of our energy from renewable sources by the year 2025. We surpassed this goal in 2021, reaching 29.7 percent, and have now made the further commitment to source renewable energy in all sites located in deregulated energy market states (where it is readily available), which will bring us to approximately 50 percent renewable energy by 2025.
- Starting with the 2021 report, our coverage of CO2 emissions will include not only direct Scope 1 and 2 emissions from our operations, but also indirect Scope 3 emissions across our entire value chain.
We are reimagining the way we work.
In 2021, Pitney Bowes reexamined the ways we work together, driving new modes of onsite and remote collaboration under a unified system we call PB@Work. This approach capitalizes on our rich culture of diversity and inclusion, encouraging and supporting everyone in our organization to be their authentic selves.
We are deepening our long-term diversity and inclusion efforts.
Our efforts have resulted in a U.S. workforce that is 48 percent people of color and a global workforce that is 43 percent women. As of 2022, people of color comprise 21 percent of Pitney Bowes senior management, have key roles on the executive team and constitute 33 percent of overall management. And 50% of the independent directors on the Pitney Bowes board of directors are women.
We are also committed to growing our business using diverse suppliers. We believe diverse businesses enhance its global supply base, providing innovative strategies and solutions while meeting or exceeding expectations in the areas of cost, quality and delivery.
The company’s long record of advocacy and commitment to diversity and inclusion was recognized in 2021 with numerous awards including Forbes’ Best Employers, Best Employers for Diversity, and Best Employers for Women; Human Rights Campaign’s 100 percent Corporate Equality Index; and Women’s Forum of New York’s Breakfast of Corporate Champions, for higher-than-average gender representation on Board of Directors.
Our client-centered mindset spans corporate functions and business units.
We constantly seek out ways to make working with Pitney Bowes more rewarding for our clients. This means building inclusiveness and accessibility into our solutions and staying hyper-focused on improving the client experience.
We actively serve the communities where we operate.
Last year, our signature volunteer program, Dedication to Education, mobilized teams in seven countries for programs that advanced childhood literacy and educational opportunity. Closer to home, the Fairfield County Business Collaborative for Education Equity (a joint venture with other nearby business leaders) raised more than $1.4 million for use in programs dealing with early childhood education, summer learning, college readiness, and food insecurity.
Pitney Bowes measures its performance against the highest ESG standards and increasingly aligns its reporting with leading international benchmarks. The 2021 ESG Report was prepared in accordance with the Global Reporting Index, the United Nations Sustainable Development Goals, and the Task Force on Climate-Related Financial Disclosures.