(MENAFN- Shamalcomms) • Emissions targets and progress verified by the Science Based Target initiative (“SBTi”)
Dubai, United Arab Emirates, 11 September 2024: JAGGAER, a global leader in enterprise procurement and supplier collaboration, today released its third Environmental, Social and Corporate Governance (ESG) Impact Report for 2023. JAGGAER helps its customers to manage and automate complex processes while enabling their highly resilient, accountable, and integrated supplier base. By simplifying and streamlining procurement, JAGGAER helps these customers and other stakeholders to achieve their ESG objectives by embedding ESG in its software and solutions.
The company also recognizes that in addition, it must take a lead in pursuing its own ESG best practices internally. Introducing the report, JAGGAER CEO Andy Hovancik states, “I’m thrilled to serve as a catalyst for accelerating business outcomes with JAGGAER’s thousands of global customers and partners. Our latest ESG Impact Report recognizes enhancements to our best-in-class ESG offering for customers, engaging environment for our talent, and ambitious environmental targets in 2023.”
Hovancik added, “Our technology is playing an increasingly important role in helping customers make a positive impact on the environment and society and improve governance through greater transparency.”
Further external validation came from EcoVadis, the leading provider of business sustainability ratings. In 2023 JAGGAER was awarded a Silver Medal for its overall sustainability rating, putting it in the top 9% of the ‘Data processing, hosting, and related activities industry’, and the top 20% of all companies EcoVadis rated in that year.
JAGGAER sets high expectations with respect to the company’s Environmental, Social and Governance targets, which are inspired by current business sponsor, Cinven, a signatory to the United Nations Principles for Responsible Investment (UNPRI). The following are some highlights from this latest ESG report:
Environmental
JAGGAER reports that it is on course to meet its Plan Zero emission targets, which have been verified by the Science Based Target initiative (SBTi). JAGGAER has achieved a 28% reduction in overall Scope 1 and Scope 2 emissions compared to 2021. Furthermore, Scope 3 emissions, which account for 92% of JAGGAER’s total emissions, have been reduced significantly compared to the 2021 baseline. The Scope 3 reduction is partly due to the migration of JAGGAER services to a third-party cloud-based hosting infrastructure provider, Amazon Web Services (AWS).
Social
The Impact Report highlights JAGGAER’s achievements in community engagement and talent management. Every JAGGAER employee is offered two days of paid volunteering time each year. In 2023, the company saw an increase in uptake of 156% across the organization. This equals just over 300 hours of time given back to local communities across the countries and regions where it has offices.
JAGGAER further reports on global employee wellbeing initiatives to enhance its organizational culture. It gained external recognition for its efforts, including being named a 2023 Gallagher Best-in-Class Employer in North America. Progress was also made on diversity, equity, and inclusion (DEI). Women account for 42% of the global workforce and 43% of the Executive Leadership Team, up from a third in the previous year. JAGGAER employees are drawn from 40 different nationalities.
Governance
JAGGAER took steps to strengthen its governance structures in 2023. Jeff Laborde, JAGGAER CFO and ESG Sponsor, said, “I am working closely with the Executive Leadership Team, the ESG Task Force and ESG Manager to ensure that we approach ESG holistically. In terms of our overall orientation, we aim to be adaptable to the business environment by embracing changing customer demands, regulations, and expectations for innovation with products, partners, and processes.”
As Data Privacy and Information Security is one of the most material topics for JAGGAER, the Company remains transparent around its best practices to ensure data privacy and information security. The 2023 ESG Impact Report highlights JAGGAER Security and Compliance Certifications and Assurance, the mandatory compliance training achievements and connected targets.
An important example in 2023 was the need to update security policies in the light of the artificial intelligence revolution. JAGGAER is currently defining the responsible use of AI in alignment with the NIST AI Risk Management Framework, part of NIST’s Trustworthy & Responsible Artificial Intelligence program. Moreover, the company is monitoring regional and governing body developments, such as the latest ISO 42001 standard. “Our approach to AI is top-down, with responsible use guidance now included in our Information Security Policy and training,” Laborde concluded.
About JAGGAER:
JAGGAER is a global leader in enterprise procurement and supplier collaboration, and the catalyst for enhancing human decision-making to accelerate business outcomes. We help organizations to manage and automate complex processes while enabling their highly resilient, accountable, and integrated supplier base. Backed by 30 years of expertise, our proven AI-powered industry-specific solutions, services, and partnerships form JAGGAER One, serving direct and indirect, upstream and downstream, in settings demanding an intelligent and comprehensive source-to-pay solution. Our 1,200 global employees are obsessed with helping customers create value, transform their businesses, and accelerate their journey to Autonomous Commerce.
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