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Keysight Releases 2020 Corporate Social Responsibility Report — Announces Net Zero Emissions and Diversity Goals
Report details company’s environmental, social and governance impact in helping build a better planet
SANTA ROSA, Calif. May 17, 2021
Keysight Technologies, Inc. (NYSE: KEYS), a leading technology company that delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world, has released its 2020 Corporate Social Responsibility (CSR) Report detailing the company's environmental sustainability, social impact and ethical governance initiatives worldwide. In this report, Keysight describes its 2020 crisis response efforts, reports results of its first set of CSR key impact goals, announces new goals with focus areas in net zero emissions and diversity, and validates the role of its solutions in delivering purposeful technology.
Throughout the past year's societal impacts from COVID-19, weather-related disasters, wildfires and political unrest, Keysight maintained progress toward its vision of building a better planet through CSR. The company prioritized crisis response efforts in support of the safety and security of employees, their families and the broader community, while continuing to provide solutions to customers working in critical infrastructure and essential services. At the same time, Keysight closed on its first set of key impact goals, measuring the company's efforts toward meeting its CSR vision. Spanning fiscal years 2015 through 2020, below are the results of these goals:
- In the environmental sustainability space, the company recognized 18.9% water conservation and 8% energy conservation (based on fiscal year 2015 baseline). While water conservation results surpassed the 15% conservation goal, the company fell short of its targeted energy conservation goal of 10% because planned efforts in 2020 were curtailed by the reprioritization of resources to focus on COVID-19 related employee safety and wellbeing.
- In the social impact space, Keysight engaged upwards of 818,000 students in science, technology, engineering and math (STEM) education, nearly 148,000 students more than the goal target. In addition, the company committed approximately $1.7 billion in value to strengthening communities through philanthropic, volunteerism and community engagement actions, beating the company's goal of committing $1.25 billion in value.
- Keysight's governance approach continued to ensure there were no material negative impact to the Income Statement or to institutional investment levels from CSR-related topics, and thus this key impact goal closed at plan.
These results, along with other CSR efforts, garnered Keysight multiple recognitions in the CSR space — such as those detailed on the company's CSR News, Awards and Recognition page — even during the challenging past year.
"Keysight is proud to have successfully closed our first set of CSR key impact goals with this 2020 CSR Report," said Hamish Gray, Keysight senior vice president and executive sponsor of the company's CSR program. "Every employee had a part to play in this extraordinary achievement in global community impact. However, as a company of innovative and critical thinkers focused on continuous improvement, we won't stop here."
Having closed the end-fiscal year 2020 CSR key impact goals, Keysight has announced its next set of short- and long-term measures for helping build a better planet. Along with updated community strengthening and STEM education goals, new targets highlight commitments to net zero emissions and diversity and include the following measures.
- Net zero emissions in company operations by end of fiscal year 2040, in alignment with the Paris Agreement's preferred goal to limit global warming to 1.5°C.
- By the end of fiscal year 2021, 35% global new hires will be women and 45% of U.S. new hires will be underrepresented minorities.1
- By the end of fiscal year 2021, Keysight is targeting to commit $250 million in value to strengthening communities and engage 75,000 students and future engineers through STEM education.
In addition to the new key impact goals and continued CSR program work, Keysight's corporate mission of accelerating innovation to connect and secure the world further exemplifies how the company's core competencies help build a better planet. Today's socio-economic and global environmental sustainability challenges have increased the importance and impact of Keysight's solutions in enabling purposeful innovations. The company's leading-edge design, test, manufacture and optimization solutions and services are critical in enabling customer breakthroughs in areas such as clean technology, wellness, safety and security.
"Recent societal challenges have highlighted the critical role corporations play in supporting global environmental and social prosperity," said Ron Nersesian, Keysight chairman, president, and CEO. "From delivering to our target CSR program goals and measures, to our sustainably-developed solutions and services, Keysight is committed to supporting global communities and enabling our customers to deliver innovative breakthroughs that change lives, secure the world and connect people across the globe."
- California Assembly Bill 979 defines underrepresented minority as Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaiian, or Alaska native, or as gay, lesbian, bisexual, or transgender.
About Keysight Technologies
Keysight delivers advanced design and validation solutions that help accelerate innovation to connect and secure the world. Keysight’s dedication to speed and precision extends to software-driven insights and analytics that bring tomorrow’s technology products to market faster across the development lifecycle, in design simulation, prototype validation, automated software testing, manufacturing analysis, and network performance optimization and visibility in enterprise, service provider and cloud environments. Our customers span the worldwide communications and industrial ecosystems, aerospace and defense, automotive, energy, semiconductor and general electronics markets. Keysight generated revenues of $4.2B in fiscal year 2020. For more information about Keysight Technologies (NYSE: KEYS), visit us at www.keysight.com.
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