Auditable and traceable ESG metrics provide the foundation for improved ESG performance, not to mention regulatory compliance. While we enable our customers to achieve these goals with our software, data and consulting expertise, we are constantly aiming for transparency and improved ESG performance as well. Our annual ESG Report helps us demonstrate our progress in meeting these goals. We recently released our 2022 ESG Report, which details our commitments, the progress we’ve made in operationalizing ESG and our goals for the future. Our report is produced by our cross-functional Sustainability Program team, led by Mark Stach, Sphera’s chief services officer.
The Sustainability Program team meets regularly to discuss ideas, track progress and take action on relevant ESG topics. It ensures Sphera is aligned with the 10 Principles of the U.N. Global Compact and that we’re meeting our commitments under the Science Based Targets initiative. The team also supports our reporting under the frameworks provided by the Sustainability Accounting Standards Board and the Global Reporting Initiative.
Our ESG improvement and reporting efforts are powered by our SpheraCloud Corporate Sustainability software. Using this cutting-edge technology and the expertise of our team, we made great progress on our ESG and sustainability goals last year.
In early 2022, we conducted a materiality assessment, which enabled us to identify, understand and prioritize ESG topics according to what key Sphera stakeholders see as critical for the company. These topics include our emissions and climate strategy; internal recognition, training and development; and our operational governance mechanisms, among others. The materiality assessment is a fundamental step for ESG reporting and performance improvement.
As a Blackstone portfolio company, we participate in the Blackstone Emissions Reduction Program, which requires us to reduce our Scope 1 and 2 greenhouse gas (GHG) emissions by 15% within the first three years of acquisition. I’m proud to report that we met this commitment in 2022, a year after our acquisition by Blackstone. In fact, Sphera achieved a 19% reduction in GHG emissions as measured against our baseline year of 2019.
We also increased our use of renewable energy sources, which provided 22% of our electricity in 2022, an increase over 2019 levels.
Our performance within the social pillar is just as important as our environmental achievements. Last year, we provided employees with additional tools and resources to support their professional growth and problem-solving abilities. Over nine hours of required training were logged per full-time equivalent during the year. And our Colleague Resource Groups—Women Excel, Grow, Empower, Transform; Black Employee Solidarity Team; and Well-Being—continued to provide employees with opportunities for networking, collaboration and the discussion of relevant issues.
During the year, we recognized 20 colleagues who exemplified Sphera’s core values, which encourage us to be accountable, action-oriented, collaborative, customer-centric and innovative. Sphera’s culture is grounded in these values, and I was thrilled to see so many examples of our employees bringing them to life.
Finally, Sphera’s governance pillar is the cornerstone of our business. For us, governance goes beyond cybersecurity, data privacy and ethics to encompass product and service excellence, as well as research, innovation and thought leadership. In 2022, we achieved the SOC 2 Type 2 attestation, a key goal that supports our information security program. We also shared our expertise across 30 webinars and 51 trade shows, providing key insights to contribute to the ESG landscape.
The key to ESG success is to aim for continuous improvement. Moving ahead, our goals include developing action plans that help us manage and improve our performance in material areas and submitting and verifying our science-based targets. We’ll achieve this by continually monitoring our KPIs and targets.
When ESG is operationalized across an organization, everyday activities within the company at the product, operational and enterprise levels feed real-time ESG metrics, breaking down information silos and providing the transparency that regulators and other stakeholders demand. Increased transparency leads to better decision-making, which bolsters ESG performance.
As we progress on our ESG journey, I want to thank our customers, partners and colleagues for their collaboration and contributions along the way. Every day, Spherions live our mission to create a safer, more sustainable and productive world by helping companies meet their ESG goals. We have much to be proud of and even more to look forward to.
–Paul
Learn more about Paul Marushka.
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