Okta Reaches 100 Percent Renewable Electricity for Global Offices and Workforce; Pioneers Hybrid Work Emissions Study

Rhea-AI Summary

Okta, Inc. (NASDAQ:OKTA) has achieved a significant milestone by reaching 100% renewable electricity for its global operations and employees’ work-from-home energy consumption for FY22. The company launched the Dynamic Work Greenhouse Gas (GHG) Emissions Study, highlighting that emissions per employee are estimated to be 21% lower in a hybrid work model compared to pre-Dynamic Work levels. This initiative aligns with its Environmental, Social, and Governance (ESG) goals and demonstrates Okta's commitment to sustainability.

Positive

• Achieved 100% renewable electricity for global offices and employee work-from-home consumption.
• Dynamic Work model resulted in a projected 21% reduction in per employee greenhouse gas emissions.
• Partnership with Anthesis enhances sustainability efforts and emissions measurement.

Negative

• None.

Dynamic Work environment shows per employee emissions reduced twenty-one percent; Identity leader reaches its renewable electricity goal ahead of target

SAN FRANCISCO--(BUSINESS WIRE)-- Okta, Inc. (NASDAQ:OKTA), the leading independent identity provider, today announced the company has reached 100 percent renewable electricity for its global offices and employees’ work-from-home consumption in FY22, and launched the Dynamic Work Greenhouse Gas (GHG) Emissions Study, a study designed to measure the environmental impact of today’s hybrid workforce. The study found that in a Dynamic Work environment, Okta’s hybrid work framework which provides equity across work environments, per employee emissions are estimated to be 21 percent lower than they were prior to implementing Dynamic Work.

As Okta expands its global presence and embraces Dynamic Work, quantifying the company’s new environmental footprint has become a critical piece of Okta’s Environmental, Social, and Governance (ESG) process. Okta partnered with Global Sustainability Consultancy Anthesis to run an analysis comparing its FY20 pre-pandemic, pre-dynamic year of work (Feb 1, 2019 - Jan 31, 2020) with an FY23 projected year with Dynamic Work in place to understand the impact Okta’s Dynamic Work framework has on its greenhouse gas emissions inventory. The study found that Dynamic Work can reduce GHG emissions, due to reduced employee commuting and reduced workplace square footage per person, even when accounting for incremental increases in home energy use.

“As a business, the way we evaluate our environmental footprint has evolved along with the way we work. Just as we need to be responsible for the environmental impact of the buildings we occupy and the services we provide, now we need to account for and help our employees to understand, measure and reduce their environmental impact in this new distributed, Dynamic Work model,” said Erin Baudo Felter, Vice President, Social Impact & Sustainability, Okta. “This study is an important first step in understanding and quantifying our impact with Dynamic Work.”

“Businesses around the globe are setting targets to reduce their greenhouse gas emissions as part of their climate change strategies. Anthesis is a critical partner to our clients in their efforts to not only create sustainable business models but to also measure impact”, said Emma Armstrong, Executive Director with Anthesis. “As the workplace evolves to accommodate changing needs accelerated by the pandemic, we were excited to partner with Okta to understand how a model that supports this new way of work impacts the environment. The projected reduction in emissions per person resulting from Okta’s Dynamic Work model is significant, and provides an example for how other companies might examine their workplace emissions in the future. We look forward to partnering with Okta to measure the actual impacts resulting from the full roll out of Dynamic Work, which we anticipate will further inform emissions measurement and workplace strategies through the lens of sustainable performance”.

The launch of the Dynamic Work GHG Emissions Study follows Okta achieving 100 percent renewable electricity this year for its global offices, including coworking spaces, and global employee work-from-home electricity consumption. This critical milestone was reached by purchasing renewable energy certificates (RECs) equivalent to 100 percent of its global office and work-from-home employees’ electricity consumption, and a commitment to energy efficiency with both LEED Silver and WELL Silver certified Okta offices. The majority of the RECs Okta purchased were from the California Bright Schools solar program, which helps to realize the most cost-effective energy-saving opportunities, supports renewable energy education and the installation of solar on schools across the state.

To build on these milestones and to further maximize benefits to society, the environment, and all of its stakeholders, Okta has committed to:

• Providing employees with a guide for bringing sustainability into their work environments, wherever they are based
• Integrating climate into enterprise-wide risk management process, as per the Task Force on Climate Related Financial Disclosures
• “Listening and learning” tour with climate and environmental justice organizations to inform the company’s climate strategy
• Incorporating social equity and justice into climate work through grantmaking, as seen with investments in GRID Alternatives and the CLIMA Fund, as climate change disproportionately impacts historically excluded communities, including communities of color

To learn more about Okta’s sustainability strategy, please read the latest update here. To read more about the methodology behind the Dynamic Work Greenhouse Gas (GHG) Emissions Study, please visit the Okta blog here.

About Okta

Okta is the leading independent identity provider. The Okta Identity Cloud enables organizations to securely connect the right people to the right technologies at the right time. With more than 7,000 pre-built integrations to applications and infrastructure providers, Okta provides simple and secure access to people and organizations everywhere, giving them the confidence to reach their full potential. More than 13,050 organizations, including JetBlue, Nordstrom, Siemens, Slack, Takeda, Teach for America, and Twilio, trust Okta to help protect the identities of their workforces and customers.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005192/en/

Laura Szatkowski

248-561-3463

Source: Okta, Inc.

FAQ

What is Okta's recent achievement regarding renewable energy?

Okta has achieved 100% renewable electricity for its global operations and employees’ work-from-home energy consumption for FY22.

How much have Okta's employee emissions decreased with the Dynamic Work model?

Employee emissions are estimated to be 21% lower under the Dynamic Work model compared to pre-Dynamic Work levels.

What is the Dynamic Work Greenhouse Gas Emissions Study?

It is a study launched by Okta to measure the environmental impact of its hybrid workforce.

What does Okta's sustainability strategy involve?

It involves achieving renewable energy goals, reducing greenhouse gas emissions, and integrating climate considerations into risk management.

Which consultancy did Okta partner with for its GHG study?

Okta partnered with Global Sustainability Consultancy Anthesis for the GHG Emissions Study.