JAGGAER, recognised as a global leader in procurement and supplier collaboration, has published its third Environmental, Social and Corporate Governance (ESG) Impact Report for 2023. The report highlights the company's commitment to driving responsible practices within its operations and among its extensive clientele. By streamlining complex procurement processes, JAGGAER enables businesses to meet their ESG objectives effectively.
JAGGAER's CEO, Andy Hovancik, expressed enthusiasm about the company's role in enhancing business outcomes for its global customer base. He stated, “I’m thrilled to serve as a catalyst for accelerating business outcomes with JAGGAER’s thousands of global customers and partners.” The report outlines significant advancements in JAGGAER's ESG offerings, which aim to create a supportive environment for employees while pursuing ambitious environmental goals.
The report received external validation from EcoVadis, a prominent provider of business sustainability ratings, which awarded JAGGAER a Silver Medal for its sustainability performance in 2023. This accolade positions JAGGAER in the top 9% within its industry, particularly in the ‘Data processing, hosting, and related activities’ sector, and in the top 20% of all companies reviewed by EcoVadis this year.
Key highlights from the report illustrate JAGGAER's comprehensive approach to its ESG initiatives across three main areas: Environmental, Social, and Governance.
In terms of environmental impact, JAGGAER is on track to meet its Plan Zero emission targets, independently validated by the Science Based Target initiative (SBTi). The company has made significant progress, reporting a 28% reduction in overall Scope 1 and Scope 2 emissions compared to 2021. Notably, reductions in Scope 3 emissions, which represent the majority of JAGGAER's total emissions, have been achieved through the transition to a cloud-based infrastructure provided by Amazon Web Services (AWS).
The social dimension of the Impact Report underscores the company's commitment to community involvement and employee wellbeing. Each employee is entitled to two days of paid volunteering annually, with participation increasing by 156% in 2023, culminating in over 300 hours donated to local organisations. Additionally, JAGGAER has strengthened its focus on diversity, equity, and inclusion, with women now comprising 42% of its global workforce and 43% of its Executive Leadership Team.
On the governance front, JAGGAER has enhanced its structures to better incorporate ESG principles. CFO Jeff Laborde stated, "I am working closely with the Executive Leadership Team, the ESG Task Force and ESG Manager to ensure that we approach ESG holistically," emphasising the company's commitment to adapt to changes in customer demands, regulatory requirements, and innovation expectations.
The 2023 ESG Impact Report also addresses pressing issues around data privacy and information security, crucial for JAGGAER's operations. The company's approach includes the responsible use of artificial intelligence (AI), aligning with the NIST AI Risk Management Framework as part of a broader strategy to ensure transparency and security. Laborde noted, “Our approach to AI is top-down, with responsible use guidance now included in our Information Security Policy and training.”
Overall, JAGGAER’s latest report illustrates its commitment to integrating ESG practices not only in its service delivery but within its corporate culture, marking significant strides towards sustainability and responsible governance in the realm of enterprise procurement.
Source: Noah Wire Services