Resilience in Action: Splunk Releases 2023 Global Impact Report

Rhea-AI Summary

Splunk Inc. released its annual Global Impact Report, highlighting its progress and vision across key priorities. The report emphasizes data responsibility, ethical and inclusive growth, environmental sustainability, and social impact. Splunk achieved new privacy and security certifications, addressed AI and data ethics, implemented a diversity strategy, committed to net zero emissions by 2050, and empowered global communities. The company exceeded its goal of directing 4% of its spend to small and diverse businesses, and increased its donations to nonprofit organizations. Splunk's sustainability efforts were recognized with an EcoVadis Bronze medal.

Positive

• Splunk achieved new privacy and security certifications, addressing U.S., UK, and EU standards.
• Splunk exceeded its goal of directing 4% of its spend to small and diverse businesses.
• Splunk increased its donations to nonprofit organizations and empowered global communities.
• Splunk's sustainability efforts were recognized with an EcoVadis Bronze medal.

Negative

• None.

Cybersecurity and Observability Innovator Advances Impact Priorities

SAN FRANCISCO--(BUSINESS WIRE)-- Splunk Inc. (NASDAQ: SPLK), the cybersecurity and observability leader, today released its annual Global Impact Report. The report details Splunk’s progress and vision across the priorities that matter most to its business and stakeholders: data responsibility, ethical and inclusive growth, environmental sustainability and social impact.

“Our Global Impact work is a foundational element of Splunk’s growth strategy and opportunities, enabling our resilience, performance and innovation,” said Scott Morgan, SVP, Chief Legal Officer, Global Affairs for Splunk. “We are pleased to share our progress and future focus in this year’s Global Impact Report, as we remain steadfast in our commitment to living our values and those of our customers each and every day. Protecting data, strengthening our culture, mitigating climate risk and empowering global communities are intrinsically linked to who we are and the mission-critical digital resilience we provide organizations worldwide.”

The 2023 Global Impact Report outlines Splunk’s commitment to contributing to broader societal challenges and opportunities while supporting the durability and resilience of its business, and creating value for its stakeholders including customers, investors, employees and communities. Below are top highlights across its four-pillar Global Impact strategy.

Data Responsibility:

Splunk is committed to conducting its business in ways that are principled, transparent and accountable to its stakeholders. Splunk’s Global Impact work supports Splunk’s purpose and strategy to build a safer and more resilient digital world. In Splunk’s fiscal year 2023 (FY23), Splunk launched workstreams to address U.S. Cybersecurity & Infrastructure Security Agency (CISA) cybersecurity executive orders; achieved new U.S., UK and EU privacy and security certifications; and updated its customer and data protection agreements to comply with new UK and EU standards.

As the explosive growth of generative AI continues, Splunk is engaged in critical dialogue on AI and data ethics through its work with BSA | The Software Alliance, the Future of Privacy Forum and the World Economic Forum. Splunk is also actively addressing the implications of generative AI adoption and usage to ensure its products are developed with the aid of AI tools, incorporating AI, or offering AI assistive features.

Ethical and Inclusive Growth:

Splunk’s award-winning employee experience continued its evolution in FY23 with a new multi-year Diversity, Equity, Inclusion and Belonging (DEIB) strategy to reach more diverse and emerging talent. A new internal career mobility platform was introduced as hundreds of Splunkers received training on inclusive hiring practices. Additionally, the company published its fourth Diversity Annual Report and continues to invest in recruitment programs to improve the representation of women and underrepresented groups.

In FY23, Splunk was proud to pilot an expedited payment terms program with qualified small- and diverse-owned businesses. The company aimed to direct 4% of its addressable spend to small and diverse businesses. Its actual performance was 5.7%, exceeding the goal.

Environmental Sustainability:

In FY23, Splunk advanced its commitment to achieve net zero emissions by 2050 at a 1.5° C pathway by completing a global climate risk assessment, modeling the resilience of the business relative to projected climate scenarios, assessing net zero transition tactics, and identifying potential near-term climate targets in line with the Science Based Targets initiative. This work supports durable business growth and lays the foundation for a comprehensive climate strategy that aligns with The Task Force for Climate Related Financial Disclosures guidelines and prepares the business for the growing number of climate-related disclosure regulations across the globe. In the upcoming months, the organization plans to finalize its climate strategy, net zero transition plan and near-term climate targets.

Due to the quality of its sustainability management policies, actions and results, Splunk was awarded an EcoVadis Bronze medal in 2023 following an annual assessment.

Social Impact:

In FY23, Splunk empowered global communities to address the lack of technology and data in the nonprofit sector, and the global skills gap. The organization donated $4.48M in Splunk licenses to help nonprofit organizations, representing a 24% increase in value and a 20% increase in organizations served from the previous year. It also continued to partner across the nonprofit and academic sectors to improve people’s digital skills and increase employability.

Overall, the number of learners taking donated courses increased 55% year-over-year, representing a total value of $3.2M in training services. In addition, total employee volunteer hours increased 126% over fiscal year 2022 as Splunkers helped nonprofits and their local communities solve real-world problems.

To read the Splunk 2023 Global Impact Report, please visit https://www.splunk.com/en_us/global-impact/2023-report.html. To learn more about Splunk’s environmental, social and governance commitments, please visit: https://www.splunk.com/en_us/global-impact/esg-resources.html.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Splunk’s climate strategy and plans. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including those described in the company’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2023, which is on file with the U.S. Securities and Exchange Commission (“SEC”) and Splunk’s other filings with the SEC. Splunk does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About Splunk Inc.

Splunk Inc. (NASDAQ: SPLK) helps build a safer and more resilient digital world. Organizations trust Splunk to prevent security, infrastructure and application issues from becoming major incidents, absorb shocks from digital disruptions, and accelerate digital transformation.

Splunk, Splunk>, and Turn Data Into Doing are trademarks and registered trademarks of Splunk Inc. in the United States and other countries. All other brand names, product names, or trademarks belong to their respective owners. © 2023 Splunk Inc. All rights reserved.

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Media Contact

Patricia Hogan

Splunk Inc.

press@splunk.com

Investor Contact

Investor Relations

Splunk Inc.

ir@splunk.com

Source: Splunk Inc.