Rackspace Technology Releases Commitment to Sustainability Report

Rhea-AI Summary

Rackspace Technology (RXT) announced its Sustainability Report, highlighting progress made in the 2023 fiscal year towards its social and environmental sustainability goals. The report includes milestones such as the promotion of Srini Koushik to President AI, Technology, and Sustainability, industry recognition for sustainability efforts, and a significant reduction in the company's carbon footprint. The company also emphasized its dedication to customer engagement and community involvement.

Positive

• Promotion of Srini Koushik to President AI, Technology, and Sustainability
• Industry recognition for sustainability efforts
• 80% reduction in carbon footprint projected for 2024 headquarters
• Dedication to customer engagement and community involvement

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• None.

2023 progress includes reducing carbon footprint, advancing the company’s sustainable technology partnerships, workforce empowerment, and impactful community contributions

SAN ANTONIO, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology^® (NASDAQ: RXT), a leading end-to-end hybrid, multicloud technology solutions company, today announced the company's Sustainability Report, highlighting progress made in the 2023 fiscal year towards its social and environmental sustainability goals. 

"As we move into 2024, Rackspace Technology remains steadfast in the company's commitment to sustainability principles, which reflect a tapestry of achievements — from advancing sustainable technology partnerships to empowering the company's workforce and making impactful community contributions," said Amar Maletira, CEO, Rackspace Technology. "Each endeavor is a stepping-stone to a more responsible and innovative future. We remain dedicated to our path towards a more sustainable, equitable, and technologically advanced world as we continue to embrace these challenges and opportunities."

Rackspace Technology's social and environmental sustainability goal highlights include the following milestones:

New Sustainability Leadership Role
In 2023, Srini Koushik was promoted to President AI, Technology, and Sustainability. The leadership role aligns with the company's vision of delivering the future for customers. Koushik's passion for the sustainability mission and his strategic insight make him the ideal leader to guide Rackspace Technology to the following levels of innovation and sustainability. Working alongside Rackspace Technology's key functional leaders, Srini drives initiatives, merging innovation with sustainability in a vision that is both progressive and responsible, embodying the belief in the synergy between technological progress and environmental stewardship.

Rackspace Technology Recent Sustainability Industry Recognition
Rackspace Technology's integration of sustainability principles into every aspect of operations has garnered notable recognition within the technology industry and underscored the company's commitment to sustainability and innovation. The awards include AWS North America Sustainability Partner of the Year. This prestigious award underlines Rackspace Technology's unwavering commitment to sustainability goals and SustainableIT.org's announcing Koushik as Honoree of the Inaugural Impact Awards for Technology Contributions to Sustainability Initiatives and Sustainability Business Awards. 

"Our sustainability work is an important part of our strategy, and the achievements in this year's report represent our ongoing commitment to principles and values," said Srini Koushik President AI, Technology, and Sustainability, Rackspace Technology. "Dedication to sustainability principles extends beyond corporate responsibility; it reflects our unwavering commitment to fostering a sustainable, equitable, and innovative future."

Reducing Carbon Footprint
Rackspace Technology's former LEED Gold-certified headquarters stood as a testament to the company's innovative spirit and cultural richness. The expansive 1.2 million-square-foot facility — a creative transformation of a former mall — symbolized the company's dedication to reinventing and redeveloping urban areas.

In a significant shift, in 2024, Rackspace Technology will transition to Rackspace Technology's new headquarters, a modern office space tailored to current needs and future aspirations. This move transcends a mere change of location; it mirrors the evolution of the company's business model toward greater efficiency and sustainability. By downsizing the company's physical footprint, the company is making a conscious decision to reduce the company's environmental impact while adapting to the changing business landscape.

The new space is designed to fit the company's current workforce while allowing for future expansions and a substantial reduction in the company's carbon footprint. In 2022, the Rackspace Technology headquarters emitted 7,492 tons of CO2 (Scope 1&2). In contrast, Rackspace Technology's new headquarters is projected to emit just 1,485 tons of CO2 in 2024 (Scope 1&2 estimated), achieving a CO2 savings of 6,007 fewer tons, or an 80% overall reduction.

Customer Engagement
At the heart of Rackspace Technology's customer-engagement strategy is a focus on continuous improvement, from solution design and implementation through the managed run phase. Rackspace Technology's holistic approach to service delivery encompasses a range of services from ERP to CRM and productivity tools to help ensure operational excellence backed by 24x7x365 support from certified specialists. 

Innovations like Rackspace Technology Elastic Engineering break the inflexible barriers of traditional service models while fostering agility and efficiency. Rackspace Technology's consulting and advisory services guide clients in strategy development to help maximize the effectiveness of their solutions. This dedication to optimizing resource usage and enhancing client experiences underscores the company's commitment to sustainable, efficient, and responsible technological solutions.

Community Involvement
Each year, Rackspace Technology designates corporate funds for paid volunteer time off, encouraging Rackers (Rackspace Employees) to give back to the communities in which they work. Last year, Rackers devoted over 21,000 hours (about two and a half years) to volunteering, and the company's "Rack Gives Back" program raised over $160,000 for local organizations. Alongside technical expertise in supporting non-profits and mentoring the next generation of tech experts, these contributions exemplify the company's culture of service and compassion within the company and broader communities.

Rackspace Technology will continue to publish its Sustainability Report annually, providing updates on its commitments and new practices. Click here for the 2023 Environmental, Social, and Governance Report: Working Together to Build a Bright, Sustainable Future.

About Rackspace Technology 
Rackspace Technology is a leading end-to-end hybrid, multicloud technology services company. We design, build and operate our customers' cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products and adopt innovative technologies.
Media Contact: Natalie Silva, publicrelations@Rackspace.com

FAQ

What is the ticker symbol for Rackspace Technology?

The ticker symbol for Rackspace Technology is RXT.

What are some milestones highlighted in Rackspace Technology's Sustainability Report?

The report includes milestones such as the promotion of Srini Koushik to President AI, Technology, and Sustainability, industry recognition for sustainability efforts, and a significant reduction in the company's carbon footprint.

What is the projected reduction in carbon footprint for Rackspace Technology's new headquarters in 2024?

Rackspace Technology's new headquarters is projected to emit just 1,485 tons of CO2 in 2024, achieving a CO2 savings of 6,007 fewer tons, or an 80% overall reduction.

How does Rackspace Technology engage with its customers?

Rackspace Technology's customer-engagement strategy focuses on continuous improvement, with a holistic approach to service delivery encompassing a range of services from ERP to CRM and productivity tools. Innovations like Rackspace Technology Elastic Engineering break the inflexible barriers of traditional service models while fostering agility and efficiency.

What does Rackspace Technology do for community involvement?

Rackspace Technology designates corporate funds for paid volunteer time off, encouraging Rackers to give back to the communities in which they work. Last year, Rackers devoted over 21,000 hours to community involvement.

Who was promoted to President AI, Technology, and Sustainability at Rackspace Technology?

Srini Koushik was promoted to President AI, Technology, and Sustainability at Rackspace Technology.

What is the award received by Rackspace Technology for sustainability?

Rackspace Technology received the AWS North America Sustainability Partner of the Year award, underlining the company's commitment to sustainability goals.