Pitney Bowes Releases ESG (Environmental, Social and Governance) Report
STAMFORD, Conn., July 26, 2022 - Pitney Bowes Inc. (NYSE: PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today released its 2021 ESG Report. Since 2008, the company has reported annually on environmental, social and governance matters in its Corporate Responsibility Report. The report’s new title reflects the company’s commitment to responsible citizenship through the way it conducts business, creates meaningful impact in local communities, achieves environmental sustainability, focuses on safety and strengthens its commitment to a diverse and inclusive company culture.
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“We remain committed to safeguarding our colleagues while delivering quality and value for our clients and a good return for our investors,” said Marc B. Lautenbach, Pitney Bowes President and CEO. “At the same time, we are steadily raising the bar on environmental, social and governance matters in keeping with our responsibilities as employer, neighbor and corporate citizen.”
Among the many ESG initiatives this report covers, key highlights from the past year include:
Progress towards Carbon Neutrality: Since announcing our commitment to achieve carbon neutrality by 2040, we have taken further steps to reduce energy consumption, accelerate our move to renewable energy sources and increase the transparency of our reporting. Starting with this 2021 report, our coverage of CO2 emissions will include not only direct Scope 1 and 2 emissions from our operations, but also indirect Scope 3 emissions across our entire value chain. We recognize that a critical component in the growth of our logistics operations will require the diversification of sources of energy and use of alternative energies. In 2021, we continued to turn toward more sustainable fuel for our fleet, e.g., fuel with 2 and 11 percent biodiesel and diesel blend.
Increase Use of Renewable Energy in our Sites: We are proud of the significant increase in the number of our sites procuring electricity from renewable sources through our Green Retail program of electrical contracts with bundled Renewable Energy Certificates (REC). In 2019, we set a goal of procuring at least 20 percent of our energy from renewable sources by the year 2025. We surpassed this goal in 2021, reaching 29.7 percent, and have now made the further commitment to source renewable energy in all sites located in deregulated energy market states (where it is readily available), which will bring us to approximately 50 percent renewable energy by 2025.
Reimagining the Way We Work: In 2021, Pitney Bowes reexamined the ways we work together, driving new modes of onsite and remote collaboration under a unified system we call PB@Work. This approach capitalizes on our rich culture of diversity and inclusion, encouraging and supporting everyone in our organization to be their authentic selves.
Deepening our Long-term Diversity and Inclusion Efforts: The company’s long record of advocacy and commitment to diversity and inclusion was recognized in 2021 with numerous awards including Forbes’ Best Employers (2021), Best Employers for Diversity (2020, 2021, 2022), and Best Employers for Women (2018, 2019, 2020, 2021); Human Rights Campaign’s 100 percent Corporate Equality Index (2021, 2022); Women’s Forum of New York’s Breakfast of Corporate Champions 2019 and 2021, for higher-than-average gender representation on Board of Directors – 50% of the independent directors on the Pitney Bowes board of directors are women. The company’s efforts have resulted in a U.S. workforce that is 48 percent people of color and a global workforce that is 43 percent women. As of 2022, people of color comprise 21 percent of Pitney Bowes senior management, have key roles on the executive team and constitute 33 percent of overall management.
Continuing Pitney Bowes Commitment to Supplier Diversity: In keeping with the company’s enterprise-wide commitment to diversity and inclusion, Pitney Bowes is committed to growing its business using diverse suppliers. The company believes diverse businesses enhance its global supply base, providing innovative strategies and solutions while meeting or exceeding expectations in the areas of cost, quality and delivery.
Bringing the same commitment to the communities where we operate: Last year, the company’s signature volunteer program, Dedication to Education, mobilized teams in seven countries for programs that advanced childhood literacy and educational opportunity. Closer to home, the Fairfield County Business Collaborative for Education Equity (a joint venture with other nearby business leaders) raised more than $1.4 million for use in programs dealing with early childhood education, summer learning, college readiness, and food insecurity.
Pitney Bowes measures its performance against the highest ESG standards and increasingly aligns its reporting with leading international benchmarks. The 2021 ESG Report was prepared in accordance with the Global Reporting Index, the United Nations Sustainable Development Goals, and the Task Force on Climate-Related Financial Disclosures. To learn more about Pitney Bowes ESG efforts, visit pb.com/responsibility.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For the latest news, corporate announcements and financial results visit https://www.pitneybowes.com/us/newsroom.html. For additional information visit Pitney Bowes at www.pitneybowes.com.
About Pitney Bowes Foundation
The Pitney Bowes Foundation is a private entity with a mission to support literacy and education and the diverse community interests of Pitney Bowes employees. We commit our resources to supporting students and families from underserved communities, closing the opportunity gap and preparing the workforce of tomorrow. For information about these programs and other Pitney Bowes Global Corporate Citizenship and Philanthropy initiatives, please visit pb.com/community.