Elastic releases 2023 sustainability report highlighting ESG progress

Elastic has released its third annual sustainability report, detailing the company's progress in 2023 and its ongoing commitment to embedding Environmental, Social, and Governance (ESG) principles across its operations in order to create long-term sustainable value. The report outlines significant initiatives including the reduction of environmental impact through workplace efficiency measures, and the implementation of a supplier engagement strategy aimed at collaborating with vendors on carbon reduction opportunities.

"We strive to use our expertise in search, AI and data analytics to help us and our customers drive impactful change in the world," said Ash Kulkarni, CEO at Elastic. "When customers choose to work with Elastic, they can be confident that they're partnering with a company that offers innovative technology solutions and does so with meticulous care and purpose. As such, we've increased focus on engaging more meaningfully with customers and suppliers on shared sustainability goals and aspirations."

The sustainability report highlights efforts and progress in various areas including environmental, social, and governance domains.

On the environmental front, Elastic has introduced a new corporate sustainability data management tool to enhance data accuracy and analysis. This platform is part of Elastic's ongoing data improvement initiatives and aims to advance the company's carbon management plan, as well as ensure readiness for future reporting requirements. The company has prioritised space and energy efficiency in its office space selections, as demonstrated by recent office openings and relocations into buildings with globally recognised sustainability accreditations.

Social initiatives mentioned in the report include the official launch of Elastic's Beehive model. This framework provides a consistent approach to talent management with mindsets and ideals encouraged among employees for achieving success. In 2023, Elastic surpassed USD $1 million in total charitable donations, a figure reached through both corporate contributions and global employee giving. Additionally, employees have collectively contributed over 6,500 hours in volunteer work.

In terms of governance, Elastic has restructured and expanded the oversight structures and practices governing sustainability at the company. A key development in this area was the relaunch of Elastic's Trust site, now known as the Elastic Trust Center. This hub centralises information on security, compliance, privacy, and resiliency, making it easier for stakeholders to access essential data.

Elastic's sustainability report underscores the company's efforts in driving impactful changes through technological innovations and partnerships aimed at advancing shared sustainability goals. Ash Kulkarni reiterated the company's commitment by stating, "We've increased focus on engaging more meaningfully with customers and suppliers on shared sustainability goals and aspirations."