Xerox Tackles Environmental and Societal Challenges in 2021 Corporate Social Responsibility Report

Rhea-AI Summary

Xerox Holdings Corporation (NASDAQ: XRX) has published its 2021 Global Corporate Social Responsibility (CSR) Report, which includes a roadmap to achieve net zero emissions by 2040, accelerated by 10 years. The report highlights accomplishments such as achieving 100% ENERGY STAR® registration for eligible products and collaborating with the U.S. Department of Energy to reduce HVAC energy consumption by up to 80%. Xerox also increased board diversity to 40% and supported COVID-19 response efforts. The report is prepared under GRI standards and details Xerox’s commitment to environmental and societal improvement.

Positive

• Roadmap to achieve net zero emissions by 2040, accelerated by 10 years.
• 100% ENERGY STAR® registration for eligible new products.
• Collaboration with U.S. Department of Energy to cut HVAC energy consumption by up to 80%.
• Increased board diversity to 40%.
• Support for COVID-19 response by manufacturing and donating ventilators and producing facemasks.

Negative

• None.

The company doubles down on sustainability efforts by publishing a roadmap to reach net zero by 2040

NORWALK, Conn.--(BUSINESS WIRE)-- Xerox Holdings Corporation (NASDAQ: XRX) has published its 2021 Global Corporate Social Responsibility (CSR) Report detailing data, accomplishments, and goals adhering to the company’s work for society, governance and environmental impact.

“Xerox has a social responsibility to do what’s best not just for the company, but for people, the environment and society. Key parts of our corporate social responsibility strategy focus on how we can lessen our impact and our customers’ impact on the environment and help society—all while ensuring we govern ourselves in a manner that makes Xerox one of the most responsible companies in the world,” said John Visentin, Vice Chairman and CEO, Xerox. “The Xerox team accomplished so much over the last year, and I couldn’t be prouder of how our team members continue to find new ways to make every day work better for our customers, partners and communities.”

With climate change being one of today’s defining issues, the company fast-tracked its net zero goal by 10 years to 2040. This year’s report marks the first time Xerox is publishing its roadmap to net zero. The roadmap focuses on improving processes and energy efficiency, as well as designing environmentally responsible products and clean technologies. Specific examples include:

• Achieving ENERGY STAR^® registration for 100% of Xerox’s eligible new products

• Pioneering a new service experience platform from CareAR, a Xerox company, to enable enterprises to deliver better environmental, health, and safety results

• Working with the U.S. Department of Energy on HVAC technology that could cut the energy consumption of air conditioners by up to 80%

Additional CSR highlights from the report include:

• Increasing the diversity of Xerox’s Board of Directors to 40%

• Executing on the company’s newly established Diversity, Inclusion, and Belonging roadmap that is focused on building a diverse pipeline, partnerships, cultural changes, community outreach and accountability

• Aiding in the COVID-19 response efforts by supporting frontline workers, manufacturing and donating single-use, low-cost ventilators and producing facemasks

• Launching a new rewards program that allows employees to redeem $10 per volunteer hour, up to $500 per year, to donate to a non-profit of their choice

All environmental, societal, and governance initiatives published within the 2021 Global CSR Report stand alongside Xerox’s mission of upholding leadership in innovation and its Innovation with Impact program. This program led to Xerox’s recent partnership with the Naval Postgraduate School to aid in the adoption of 3D printing throughout the U.S. Navy. It also led to Xerox’s launch of Eloque™, a joint venture with VicTrack, a state-owned enterprise in Victoria, Australia, to commercialize PARC-developed IoT technology that remotely monitors the structural health of infrastructure assets, like bridges.

Xerox prepared the 2021 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 GRI, 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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Xerox^® is a trademark of Xerox in the United States and/or other countries.

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

Eloque is a trademark of Xerox Corporation in the United States and/or other countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005231/en/

Media: Callie Ferrari, APR, Xerox, +1-203-615-3363, Callie.Ferrari@xerox.com

Investor: David Beckel, Xerox, +1-203-849-2318, David.Beckel@xerox.com

Source: Xerox Holdings Corporation

FAQ

What is Xerox's net zero emissions goal?

Xerox aims to achieve net zero emissions by 2040, accelerated from a previous target.

What are the key highlights of Xerox's 2021 CSR report?

Key highlights include achieving 100% ENERGY STAR® registration and increasing board diversity to 40%.

How is Xerox contributing to COVID-19 response efforts?

Xerox supports COVID-19 response by manufacturing and donating ventilators and producing facemasks.

What standards did Xerox use to prepare their CSR report?

The report was prepared according to Global Reporting Initiative (GRI) standards.

What partnership did Xerox form to reduce HVAC energy consumption?

Xerox partnered with the U.S. Department of Energy on HVAC technology to reduce energy use by up to 80%.