OpenText Zeroes-In on Ambitious ESG Targets and Programs

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Sep 13, 2022, 16:00 ET

Company announces new initiative to help advance its environmental, social, and governance goals over the next several decades

WATERLOO, ON, Sept. 13, 2022 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced the launch of the OpenText Zero-In Initiative, the company's guiding framework to achieving global impact goals related to its Environmental, Social, and Governance (ESG) commitments and programs. Affirming the OpenText promise of harnessing the power of technology for the greater good, the OpenText Zero-In Initiative is focused on specific, measurable goals that will leverage data to enable the organization to help move the dial on critical global challenges.

"At OpenText, we believe the future of growth is both sustainable and inclusive," said Mark J. Barrenechea, OpenText CEO and CTO. "The OpenText Zero-In Initiative defines our long-term aspirations and outlines our tangible plans and programs to achieving our bold aspirations. OpenText is in a unique position to enable our customers to be climate innovators through digital transformation, as well as by leading by example. And we intend to do just that."

The OpenText Zero-In Initiative is centered around three pillars:

Zero Footprint: OpenText is committed to an emissions reduction target of 50% by 2030 and net zero by 2040 for scope 1, 2, and 3 emissions from a baseline of fiscal year 2022 as well as zero-waste to landfill from operations by 2030. The company is also prioritizing helping customers move to the cloud.
Zero Barriers: OpenText is focused on the advancement of Equity, Diversity, and Inclusion (ED&I), by committing to having a majority ethnically diverse workforce by 2030, 50/50 gender parity within key roles by 2030, and 40% women in leadership positions at all management levels by 2030.
Zero Compromise: OpenText is committed to achieving its Zero Footprint and Zero Barrier goals via a values-based approach that is rooted in science, transparency, and integrity, supporting accountability, and continuing to help foster a culture of 'tech for good'.

OpenText recently released its annual Corporate Citizenship Report which outlines the OpenText Zero-In Initiative in detail and provides a baseline for tracking the business' success against its ESG aspirations. The OpenText Zero-In Initiative includes ambitious targets that OpenText believes will help drive real and lasting impact.

"The launch of the OpenText Zero-In Initiative enables us to continue to give back to our employees, our customers, and our communities, while zeroing-in on what matters most," added Barrenechea. "We intend to bring software and innovative technologies to market to enable our customers and ourselves to have a significant and immediate impact on ESG and climate goals."

Zeroing-in on stories that made an impact

Throughout the past year, OpenText has brought several initiatives and programs to life that closely align with and support the company's zero-in goals, including:

The launch of the (ED&I) Navigator Internship program: This program included a partnership with Lakehead University to offer internship opportunities to Indigenous students enrolled at the university. The company welcomed its first cohort of interns this past spring as the students interned remotely in OpenText's software engineering, marketing, finance, IT, and human resource departments. The ED&I Navigator Internship program was also extended to several students from Howard University in the United States.
Sponsoring schools in Poland that welcomed Ukrainian refugee children: OpenText has supported humanitarian efforts in Ukraine since March 2022 and has continued to find new ways to help the people of Ukraine throughout the ongoing crisis. Most recently, the company partnered with five schools in Poznan, Poland who between them, have welcomed more than 600 Ukrainian students into their classrooms. OpenText provided a financial donation to each school to help cover items such as laptops, Ukrainian textbooks, translation software, lockers, and sporting equipment.
Enhancing benefits to support the wellbeing of employees: Throughout 2022, OpenText introduced several new employee benefits intended to better support the evolving needs of its employees. Examples of new benefits include enhanced maternity and parental leave, family care leave and adoption allowances for employees in Canada, the U.S., and India, as well as coverage and treatment for abortion, infertility, Gender Reassignment, mental health, and more for U.S. employees, regardless of which U.S. state they live in. Additionally, OpenText signed the HRC business statement earlier this year, which calls for public leaders to abandon or oppose efforts to enact anti-LGBTQ+ legislation.
Supporting communities in times of need: Providing support for the communities where employees live and work is a priority for OpenText. As part of its corporate giving pillars, the company provides financial support for global disaster relief and introduces employee matching initiatives to help make a greater impact. Most recently, the company made a $10,000 donation to the Kentucky Region American Red Cross in support of those impacted by the deadly floods in eastern Kentucky.

To complement the Zero-In initiative, OpenText has launched a global campaign titled "Be a Climate Innovator" to raise awareness of how companies can apply Information Management to innovate for a more sustainable future. Together with customers, OpenText is making a bold goal to save 1% of the world's trees over 10 years, through Digital Transformation. The digital world can work to protect the physical one and ensure a thriving planet for future generations.

To learn more about the OpenText Zero-In Initiative, the company's goals, plans, and programs that are already in place in support of those goals, visit Corporate Citizenship Report 2022: Introducing Our Zero-In Initiative - OpenText Blogs.

Read the 2022 Corporate Citizenship Report at this link.

Learn more about how to Be a Climate Innovator at this link.

About OpenText
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.

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SOURCE Open Text Corporation