Elastic Releases Third Annual Sustainability Report

Rhea-AI Summary

Elastic (NYSE: ESTC) has published its third annual sustainability report, showcasing the company's 2023 progress in integrating environmental, social, and governance (ESG) principles. Key initiatives include workplace efficiency measures to reduce environmental impact and a supplier engagement strategy for carbon reduction opportunities. A new corporate sustainability data management tool was introduced to enhance data accuracy and carbon management. Social initiatives highlighted include the launch of the 'Beehive' talent management framework and over $1 million in charitable donations. Governance improvements feature the new Elastic Trust Center for better access to security, compliance, and privacy information.

Positive

• Introduced a corporate sustainability data management tool to enhance data accuracy.
• Achieved over $1 million in charitable donations.
• Launched the 'Beehive' talent management framework.
• Opened and relocated offices to energy-efficient buildings with recognized sustainability accreditations.
• Established the new Elastic Trust Center for better governance and stakeholder information access.

Negative

• None.

The latest report highlights a year of progress at Elastic, including an increased focus on working with customers and suppliers on shared sustainability goals

SAN FRANCISCO--(BUSINESS WIRE)-- Elastic (NYSE: ESTC), the Search AI Company, today released its third annual sustainability report, highlighting its progress in 2023 and commitment to embedding environmental, social, and governance (ESG) principles across its business to create long-term sustainable value. Initiatives include reducing its environmental impact through workplace efficiency measures and implementing a supplier engagement strategy to collaborate with vendors on carbon reduction opportunities.

“We strive to use our expertise in search, AI and data analytics to help us and our customers drive impactful change in the world,” said Ash Kulkarni, CEO, Elastic. “When customers choose to work with Elastic, they can be confident that they’re partnering with a company that offers innovative technology solutions and does so with meticulous care and purpose. As such, we’ve increased focus on engaging more meaningfully with customers and suppliers on shared sustainability goals and aspirations.”

Report highlights include:

• Environmental: As part of ongoing data improvement, we onboarded a new corporate sustainability data management tool to improve data accuracy and analysis. The platform will help advance our carbon management plan and ensure we are ready for future reporting requirements. We are distributed by design, and our purposeful office site selections prioritize space and energy efficiency, as demonstrated by our recent office openings and relocations into buildings with globally recognized sustainability accreditations.
• Social: Elastic formally launched our “Beehive” model. This comprehensive framework provides a consistent approach to talent management, with mindsets and ideals that we encourage Elasticians to take on to achieve success. In addition, we exceeded $1 million in total charitable donations, a result of both corporate contributions and global employee giving, while collectively contributing over 6,500 employee volunteer hours.
• Governance: We relaunched Elastic's Trust site as the new Elastic Trust Center. This centralized hub for information on security, compliance, privacy, and resiliency ensures our key stakeholders can find vital information easily. We also made significant strides in formalizing and expanding the governance of sustainability at Elastic through refined oversight structures and practices.

To view and download the full 2023 Sustainability Report, click here.

About Elastic

Elastic (NYSE: ESTC), the Search AI Company, enables everyone to find the answers they need in real-time using all their data, at scale. Elastic’s solutions for search, observability, and security are built on the Elastic Search AI 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240620445867/en/

Elastic PR

PR-team@elastic.co

Source: Elastic N.V.

FAQ

What are the key highlights of Elastic's 2023 Sustainability Report?

Elastic's 2023 Sustainability Report features improvements in environmental impact reduction, the introduction of a new sustainability data management tool, over $1 million in charitable donations, and the launch of the 'Beehive' talent management framework.

How is Elastic (ESTC) improving its environmental sustainability?

Elastic is enhancing its environmental sustainability by implementing workplace efficiency measures, using a new sustainability data management tool, and collaborating with suppliers on carbon reduction opportunities.

What social initiatives did Elastic (ESTC) undertake in 2023?

In 2023, Elastic launched the 'Beehive' talent management framework, exceeded $1 million in charitable donations, and recorded over 6,500 employee volunteer hours.

What governance improvements are highlighted in Elastic's 2023 Sustainability Report?

Elastic's governance improvements include the launch of the Elastic Trust Center to centralize information on security, compliance, and privacy, and refined oversight structures for sustainability governance.

How much did Elastic (ESTC) donate to charities in 2023?

Elastic donated over $1 million to charities in 2023 through corporate contributions and global employee giving.