Media Alert: Ready for What's Next: Palo Alto Networks Releases Environmental, Social, and Governance Supplement
“Our business vision and ESG strategies are closely aligned. By respecting our planet, investing in our people, uplifting our communities, and advancing our industry, we believe we can make the world safer and more secure.” – Nikesh Arora, Chief Executive Officer and Chairman, Palo Alto Networks
Palo Alto Networks recently released its 2021 Environmental, Social, and Governance (ESG) Supplement. Palo Alto Networks, a global cybersecurity provider with a vision of a world where each day is safer and more secure than the one before, has announced how it integrates ESG practices into its business to have lasting positive impact.
The inaugural supplement showcases Palo Alto Networks’ commitment to reducing energy use and greenhouse gas emissions, collaborating on climate action, supporting employee choice, investing in its workforce through development, building a diverse and inclusive workforce and supply chain, driving social impact, and operating with integrity.
Highlights described in more detail in the supplement include:
- Palo Alto Networks has committed to be carbon neutral by 2030. In FY21, 71% of power obtained came from renewable energy sources.
- The Company has earned LEED certification for 85% of its employee workplaces.
- The Company has increased diverse representation, and in FY21, 24.7% of global employees self-identified as women and 14.5% of U.S. employees self-identified as coming from underrepresented communities.
- Palo Alto Networks delivered personalized learning, benefits, and choice of location through FLEXWORK and employees have, on average, completed 12 hours of development through FLEXLearn.
- The Company has achieved equity in pay, promotion, performance, and mobility.
- Palo Alto Networks contributed ~$5.5 million in total charitable investments to critical causes and employees volunteered 3,363 hours of their time in FY21.
- The Company also grew gender diversity of its Board of Directors from 9% (in FY18) to 33% (by the end of FY21).
- In fiscal 2022, its executive compensation plan includes an incentive modifier based on the achievement of ESG goals, focused on environmental performance, progress towards aspirational diversity goals, and employee engagement metrics.
Palo Alto Networks’ 2021 ESG Supplement is available at https://www.paloaltonetworks.com/content/dam/pan/en_US/assets/pdf/corporate/panw-fy21-esg-supplement.pdf.
Palo Alto Networks, Inc.