Xerox Reports Progress on Environmental and Societal Roadmap

Rhea-AI Summary

Xerox Holdings Corporation (NASDAQ: XRX) has released its 2022 Global Corporate Social Responsibility (CSR) Report, highlighting its commitment to achieving Net Zero emissions by 2040. The company initiated global climate change awareness training for all employees and reduced energy consumption by 12.8% in 2021 compared to 2020. Other initiatives include engaging over 500 employees in volunteer work and enhancing workforce diversity. Xerox is also collaborating with the EPA on ENERGY STAR criteria for remanufactured products, showcasing its dedication to sustainability.

Positive

• Achieved a 12.8% reduction in energy consumption in 2021 compared to 2020.
• Initiated climate change training for all employees globally.
• Increased workforce diversity through a robust Diversity, Inclusion, and Belonging roadmap.
• Over 500 employees volunteered more than 7,000 hours in local communities.

Negative

• None.

The company implemented climate change awareness training for all Xerox employees worldwide as part of its commitment to Net Zero 2040

NORWALK, Conn.--(BUSINESS WIRE)-- Xerox Holdings Corporation (NASDAQ: XRX) today published its 2022 Global Corporate Social Responsibility (CSR) Report outlining progress, data and goals tied to the company’s ongoing societal, governance and environmental impact work.

“Xerox has long been devoted to its role as a responsible corporate citizen, doing its part to create a more sustainable future. This dedication goes beyond the company borders as our teams work to do what’s best for all people, the environment, and our society. Our colleagues lead by example, operating with integrity and fostering a culture that upholds the highest ethical standards, and their accomplishments this year lay the foundation for us to reach our net zero goal by 2040,” said Steven Bandrowczak, chief executive officer at Xerox.

As part of the company’s goal to reach net zero emissions by 2040, Xerox implemented climate change awareness training for all employees worldwide to educate them on the company’s net zero goal and how they can personally contribute. The company also reduced energy consumption in its operations, which accounts for a majority of its GHG emissions, by 12.8% in 2021 compared to 2020.

Additional highlights from the report include:

• Launching Xerox Volunteer Days in which more than 500 employees volunteered more than 7,000 hours in their local communities.
• Executing on the company’s robust Diversity, Inclusion, and Belonging roadmap, leading to an increase in the diversity and inclusivity of Xerox’s workforce.
• Integrating Environment, Social, and Governance metrics in the compensation criteria for senior management.
• Collaborating with the EPA on the development and roll out of ENERGY STAR criteria for remanufactured products and launching three new remanufactured models that certified to the new standards.

The initiatives included in the 2022 Global CSR Report align with Xerox’s legacy of innovation by leveraging emerging technology to solve real-world challenges. Xerox leveraged CareAR to differentiate its service experience, avoiding more than 269,000 metric tons of Co2 by reducing client site visits by more than 21,000 in just one year thanks to CareAR’s remote support capabilities. Xerox also received a grant from the Department of Energy’s building technology office to advance the company’s efforts in the Cleantech space to reduce humankind’s negative environmental impact.

Xerox prepared the 2022 CSR report according to Global Reporting Initiative (GRI) standards and the United Nations Sustainable Development Goals (SDGs). In addition, Xerox continues to disclose its CSR metrics using the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD) standards to ensure our stakeholders have full transparency into our CSR progress. For more information about Xerox’s CSR activities and our SASB & TFCD reports visit www.xerox.com/csr.

About Xerox Holdings Corporation (NASDAQ: XRX)

For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we've expanded into software and services to sustainably power today's workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients — no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech. Learn more at xerox.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20221020005756/en/

Media:

Justin Capella, Xerox, +1-203-258-6535, Justin.Capella@xerox.com

Source: Xerox Holdings Corporation

FAQ

What is Xerox's goal for emissions by 2040?

Xerox aims to achieve Net Zero emissions by 2040.

How much did Xerox reduce its energy consumption in 2021?

Xerox reduced energy consumption by 12.8% in 2021 compared to 2020.

How many employee volunteer hours did Xerox achieve?

Xerox employees volunteered more than 7,000 hours in their local communities.

What does the 2022 CSR Report highlight about Xerox's efforts?

The report highlights initiatives like climate change training, energy consumption reduction, and increased workforce diversity.

What collaboration did Xerox undertake with the EPA?

Xerox collaborated with the EPA to develop ENERGY STAR criteria for remanufactured products.