Xerox Shares 2023 Corporate Social Responsibility Report

Rhea-AI Summary

Xerox publishes its 2023 Global Corporate Social Responsibility (CSR) Report, highlighting its CSR accomplishments and commitment to sustainability and ESG initiatives.

Positive

• Xerox has doubled its CSR efforts and reignited its ESG initiatives.
• 97% of Xerox employees completed the Net Zero training in 2022 to understand their role in mitigating climate change.
• Xerox's partnership with CareAR has reduced client site visits by over 57,000, resulting in 594 metric tons of CO2 emissions avoided.
• Xerox conducted a third-party double materiality assessment to ensure its CSR strategies focus on critical areas and have a positive impact.
• Xerox has partnered with A Better Chance to raise over $450,000 for the John Visentin Scholarship Fund.
• Xerox is focused on improving operational efficiency and implementing third-party verifiable ESG reporting solutions to achieve its net zero by 2040 goal.

Negative

• None.

The company provides an update on its net zero by 2040 roadmap and outlines details of recent double materiality assessment.

NORWALK, Conn.--(BUSINESS WIRE)-- Xerox Holdings Corporation (NASDAQ: XRX) today published its 2023 Global Corporate Social Responsibility (CSR) Report detailing Xerox’s continued CSR accomplishments and underscoring its continued pioneering leadership in delivering measurable environmental, social, and governance (ESG) impact work.

“For more than 60 years, Xerox has made sustainability work—demonstrating that environmental stewardship and corporate social responsibility programs also lead to increased profits, improved employee engagement and great client satisfaction. As the world continues to fight climate change and identify ways to improve our collective societal well-being, we have doubled our CSR efforts and reignited our ESG initiatives,” said Steven Bandrowczak, Chief Executive Officer at Xerox. “While we recognize that our CSR work is never done, I am proud of our colleagues' commitment to building a more sustainable, equitable and inclusive future for all.”

To ensure Xerox and its more than 20,000 global employees understand their role in mitigating climate change, in 2022, 97% of employees completed Xerox’s Net Zero training. This ongoing initiative was designed to educate employees on the basics of climate change, the company’s plan to reduce emissions, and to communicate opportunities to participate in emissions reduction activities.

Additional highlights from this year’s report include:

• For the past two years, we have differentiated the service experience through CareAR®, a Xerox company, allowing experts to visually diagnose and solve client issues remotely. This has resulted in improved uptime and reduced carbon emissions associated with dispatching a service technician to a client site. In one year, CareAR has enabled Xerox to reduce client site visits by more than 57,000, with more than 594 metric tons of CO₂ avoided as a result.
• This year, Xerox conducted a third-party double materiality assessment with Business for Social Responsibility, which interviewed key internal and external stakeholders to ensure that the company’s CSR strategies are centered around the most critical areas of focus and have the maximum positive impact on people and the planet. Through this assessment, high-priority material topics such as climate change, emerging technologies and ethics, and data privacy and responsible data use were identified, among others.
• A new partnership with A Better Chance to create an endowment called the John Visentin Scholarship Fund, which has raised more than $450,000 to provide scholarships to A Better Chance scholars interested in pursuing a science, technology, engineering, and math (STEM) education.

Xerox remains focused on improving operational efficiency with key stakeholders across the value chain to continue tracking towards its net zero by 2040 goal. To ensure Xerox meets its commitments, the company is focused on implementing new third-party verifiable ESG reporting solutions enabling, better transparency and collecting comprehensive GHG data from across the enterprise.

Download Xerox’s full 2023 Global Corporate Social Responsibility Report here.

About Xerox Holdings Corporation (NASDAQ: XRX)

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 the hybrid workplace of today and tomorrow. Today, Xerox is continuing its legacy of innovation to deliver client-centric and digitally-driven technology solutions and meet the needs of today’s global, distributed workforce. From the office to industrial environments, our differentiated business and technology offerings and financial services are essential workplace technology solutions that drive success for our clients. At Xerox, we make work, work. Learn more at www.xerox.com and explore our commitment to diversity and inclusion.

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Xerox^® is a trademark of Xerox in the United States and/or other countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231019188405/en/

Media:

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

Source: Xerox Holdings Corporation

FAQ

What is Xerox's 2023 Global Corporate Social Responsibility (CSR) Report about?

Xerox's 2023 CSR Report highlights its CSR accomplishments and commitment to sustainability and ESG initiatives.

What is the Net Zero training that Xerox employees completed?

The Net Zero training is designed to educate Xerox employees on climate change, the company's emissions reduction plan, and opportunities to participate in emissions reduction activities.

How has Xerox reduced client site visits?

Xerox's partnership with CareAR has enabled remote diagnosis and problem-solving, reducing client site visits by over 57,000.

What is the purpose of Xerox's double materiality assessment?

The double materiality assessment ensures that Xerox's CSR strategies focus on critical areas and have a positive impact by interviewing key stakeholders.

What is the John Visentin Scholarship Fund?

The John Visentin Scholarship Fund is an endowment created by Xerox in partnership with A Better Chance to provide scholarships to students interested in STEM education.

What is Xerox's goal for net zero by 2040?

Xerox aims to achieve net zero emissions by 2040 and is focused on improving operational efficiency and implementing ESG reporting solutions.