Report highlights company’s progress in environmental, social, and governance efforts worldwide
SANTA ROSA, Calif., May 16, 2022--(BUSINESS WIRE)--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 2021 Corporate Social Responsibility (CSR) Report detailing the company's environmental sustainability, social impact and ethical governance initiatives worldwide. In this report, Keysight highlights its progress toward key impact goals, contributions to purposeful technology, and continued transparency alignment with key environmental, social, governance (ESG) reporting frameworks — including the addition of more robust Task Force on Climate-Related Financial Disclosures (TCFD) data.
"CSR remains core to Keysight’s purpose of accelerating innovation to connect and secure the world," said Satish Dhanasekaran, Keysight president and CEO. "We are excited about the opportunity to favorably impact the communities and customer ecosystems we serve through a continual focus on sustainability and engineering equality."
In fiscal year 2021 the company announced new CSR key impact goals to track its efforts in helping drive positive environmental and social impact globally. Progress was made across these short-, mid-, and long-term measures in 2021:
In the environmental sustainability space, Keysight committed to net zero emissions in company operations by the end of fiscal year 2040, in alignment with the Paris Agreement's preferred goal to limit global warming to 1.5°C. In support of this end goal, and interim renewable energy and energy reduction targets, the company also announced its commitment to the Science Based Targets initiative (SBTi). As such, Keysight will work with the SBTi to develop approved science-based targets (SBTs) that will enable the company to measure progress in greenhouse gas emissions reduction and ensure targets are consistent with the latest climate change scenarios.
In the social impact space, Keysight engaged upwards of 145,000 students in science, technology, engineering and math (STEM) education to help support future technologist skills development. In addition, the company committed approximately $315 million in value to strengthening communities through philanthropic, volunteerism, and community engagement actions. Both results surpassed Keysight’s original fiscal year 2021 goal targets, supported by focused adjustments to address global community needs related to the continued pandemic response and other societal impacts of the year.
Specifically in the diversity, equity, and inclusion (DEI) space, Keysight announced its first publicly communicated diversity hire goals for fiscal year 2021 with targets of 45% of U.S. new hires being from underrepresented minority (URM)1 groups and 35% global new hires being women. The company announced that it exceeded its URM goal with a result of 46.4% representation of U.S. new hires. And, while progress was made on the global female new hire front, Keysight fell slightly short of its 2021 goal with 34.4% female representation of global new hires.
In addition to progress being made toward the company’s key impact goals, Keysight’s corporate purpose of accelerating innovation to connect and secure the world further exemplifies how the company’s core competencies help build a better planet. Increasingly negative impacts on the global community from the effects of climate change, social unrest, and a prolonged pandemic, makes the company’s mission as relevant today as ever. As highlighted in the Keysight 2021 CSR Report, the company’s sustainably developed, leading-edge design, test, manufacture, and optimization solutions help customers deliver breakthrough purposeful innovations in areas such as clean technology, social impact and wellness, and safety and security. All of which are critical components of building a better planet.
As a measurement company, Keysight is also acutely aware of the need to maintain transparency of the company’s progress in the CSR space. As such, this 2021 CSR Report continues to provide data disclosures aligned with the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) reporting frameworks. In addition, this year’s report is the first to integrate reporting aligned with key data points of the TCFD.
These CSR efforts and results continue to garner multiple recognitions for Keysight, such as those detailed on the company's CSR News, Awards and Recognition page.
Looking forward, the company expects to continue making progress toward its mid- and long-term targets in support of its goal of net zero emissions in operations by the end of fiscal year 2040, and has announced another set of new measures to track progress in social impact and ethical governance throughout 2022 and into 2023.
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 $4.9B in fiscal year 2021. For more information about Keysight Technologies (NYSE: KEYS), visit us at www.keysight.com.
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