Splunk Unveils 2023 Global Impact Report: Demonstrating Resilience
Splunk Inc. (NASDAQ: SPLK), the cybersecurity and observability leader, released its annual Global Impact Report. The report details Splunk’s progress and vision across the priorities that matter most to its business and stakeholders: data responsibility, ethical and inclusive growth, environmental sustainability and social impact.
“Our Global Impact work is a foundational element of Splunk’s growth strategy and opportunities, enabling our resilience, performance and innovation,” said Scott Morgan, SVP, Chief Legal Officer, Global Affairs for Splunk. “We are pleased to share our progress and future focus in this year’s Global Impact Report, as we remain steadfast in our commitment to living our values and those of our customers each and every day. Protecting data, strengthening our culture, mitigating climate risk and empowering global communities are intrinsically linked to who we are and the mission-critical digital resilience we provide organisations worldwide.”
The 2023 Global Impact Report outlines Splunk’s commitment to contributing to broader societal challenges and opportunities while supporting the durability and resilience of its business and creating value for its stakeholders including customers, investors, employees and communities. Below are the top highlights across its four-pillar Global Impact strategy.
Data Responsibility:
Splunk is committed to conducting its business in ways that are principled, transparent and accountable to its stakeholders. Splunk’s Global Impact work supports Splunk’s purpose and strategy to build a safer and more resilient digital world. In Splunk’s fiscal year 2023 (FY23), Splunk launched workstreams to address U.S. Cybersecurity & Infrastructure Security Agency (CISA) cybersecurity executive orders; achieved new U.S., UK and EU privacy and security certifications; and updated its customer and data protection agreements to comply with new UK and EU standards.
As the explosive growth of generative AI continues, Splunk is engaged in critical dialogue on AI and data ethics through its work with BSA | The Software Alliance, the Future of Privacy Forum and the World Economic Forum. Splunk is also actively addressing the implications of generative AI adoption and usage to ensure its products are developed with the aid of AI tools, incorporating AI, or offering AI assistive features.
Ethical and Inclusive Growth:
Splunk’s award-winning employee experience continued its evolution in FY23 with a new multi-year Diversity, Equity, Inclusion and Belonging (DEIB) strategy to reach more diverse and emerging talent. A new internal career mobility platform was introduced as hundreds of Splunkers received training on inclusive hiring practices. Additionally, the company published its fourth Diversity Annual Report and continues to invest in recruitment programs to improve the representation of women and underrepresented groups.
In FY23, Splunk was proud to pilot an expedited payment terms program with qualified small- and diverse-owned businesses. The company aimed to direct 4% of its addressable spending to small and diverse businesses. Its actual performance was 5.7%, exceeding the goal.
Environmental Sustainability:
In FY23, Splunk advanced its commitment to achieve net zero emissions by 2050 at a 1.5° C pathway by completing a global climate risk assessment, modelling the resilience of the business relative to projected climate scenarios, assessing net zero transition tactics, and identifying potential near-term climate targets in line with the Science Based Targets initiative. This work supports durable business growth and lays the foundation for a comprehensive climate strategy that aligns with The Task Force for Climate-Related Financial Disclosures guidelines and prepares the business for the growing number of climate-related disclosure regulations across the globe. In the upcoming months, the organisation plans to finalise its climate strategy, net zero transition plan and near-term climate targets.
Due to the quality of its sustainability management policies, actions and results, Splunk was awarded an EcoVadis Bronze medal in 2023 following an annual assessment.
Social Impact:
In FY23, Splunk empowered global communities to address the lack of technology and data in the nonprofit sector, and the global skills gap. The organisation donated $4.48M in Splunk licences to help nonprofit organisations, representing a 24% increase in value and a 20% increase in organisations served from the previous year. It also continued to partner across the nonprofit and academic sectors to improve people’s digital skills and increase employability.
Overall, the number of learners taking donated courses increased 55% year-over-year, representing a total value of $3.2M in training services. In addition, total employee volunteer hours increased 126% over the fiscal year 2022 as Splunkers helped nonprofits and their local communities solve real-world problems.
