Zuora Reaches Carbon Neutrality and Reaffirms DE&I Commitment in Inaugural ESG Impact Report

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05/09/2022 - 08:00 AM EDT

REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, today launched its inaugural Environmental, Social and Governance (ESG) Impact Report and announced that the company is carbon neutral for fiscal year 2022.

The report spotlights Zuora’s efforts over several years with the goal of making a positive impact in ESG. Focus areas include how the company is building a more inclusive and equitable future for its employees and surrounding communities, the principles that will guide Zuora’s long-term corporate responsibility, and the company’s commitments to sustainability.

Zuora’s fiscal year 2022 ESG Impact Report highlights the following accomplishments:

Reached carbon neutrality for its fiscal year 2022 as a result of internal initiatives to reduce emissions and by purchasing high-quality carbon offsets to mitigate the environmental impact of the remaining emissions, and affirmed its commitment to maintaining carbon neutrality in the future. By partnering with Watershed, a climate technology platform, the company measured its carbon footprint across Scope 1, 2 and 3 emissions, which sets a baseline to help the company reduce its greenhouse gas (GHG) impact moving forward.
Fostered a diverse and inclusive workplace culture: 41% of Zuora employees, 60% of its executive team and 56% of its Board of Directors self-identified as members of underrepresented groups at the end of fiscal year 2022, which includes women globally, and, in the US, individuals who self-identify as being from underrepresented groups, such as Asian, African American and Latinx individuals. Zuora's Diversity, Equity and Inclusion (DE&I) function, which was created in 2020, continues the company's 2018 goal that 50% of employees self-identify as members of underrepresented groups.
Donated more than $1 million to impact-driven organizations across the globe through its Zuora for Good Impact Fund.

“The Subscription Economy® has untapped potential to broaden access to goods and services, increase inclusion and equity, and create a more sustainable world,” said Tien Tzuo, Founder and CEO at Zuora. “Our first ESG Impact Report serves as a foundation of our progress and unwavering commitment to creating solutions that are better for people, better for business and ultimately, better for the planet.”

The report is a key milestone for Zuora’s ESG journey, providing accountability and transparency as the company expands its ESG strategy and execution. To support these efforts, Zuora has built a cross-functional ESG team and partnered with several external advisors to help further these programs into the future.

To access the full report, visit here.

About Zuora, Inc.

Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-revenue process across billing, collections and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Ford, Penske Media Corporation, Schneider Electric, Siemens, Xplornet and Zoom. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.

© 2022 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, and Subscription Economy Index are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies.

Forward-looking statements

The report does not cover all information about our business. References in this report to information should not be construed as a characterization regarding the materiality of such information to our financial results or for purposes of the U.S. securities laws. The information covered by the report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our ESG goals, commitments, and strategies and related business impacts. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. More information on risks, uncertainties, and other potential factors that could affect our business and performance is included in our filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. We assume no obligation to update any forward-looking statements or information, which speak as of their respective dates.

SOURCE: ZUORA FINANCIAL