In its inaugural Environmental, Social, and Governance (ESG) Report, Coupa outlines the company's ESG priorities and progress
PR Newswire
SAN MATEO, Calif., July 15, 2021
SAN MATEO, Calif., July 15, 2021 /PRNewswire/ -- Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), today released its inaugural Environmental, Social, and Governance (ESG) Report. In the report, the company communicates its approach to advancing ESG within Coupa, as well as how it is empowering its global community of customers to deliver ESG impact through Business Spend Management.
Coupa's core values and general philosophy that none of us is as smart as all of us is a foundational element of the company's approach to ESG, as well as its community of customers, which together can deliver exponential economic, social, and environmental impact. Through Coupa's Sustainable Business Spend Management offering, the BSM community is able to take immediate action to incorporate ESG considerations across their business and spend activities.
"Businesses are being called upon to drive bold action to make the world a better place - from diversity and inclusion and environmental responsibility to sustainable and ethical supply chains," said Rob Bernshteyn, chairman and CEO at Coupa. "We are proud to be part of this meaningful change - both through the progress within our company at Coupa, and the advancements we are helping enable within our Community. We will all become smarter together through this work to make a collective, lasting, and positive impact."
Coupa's ESG Report highlights progress on a variety of key impact areas, including:
Sustainable Business Spend Management Solutions
Coupa's platform empowers organizations around the world to increase the impact of their spend across their business and the broader community.
- New innovations made within its Sustainable BSM offering help organizations maximize business and ESG impact through their spend. As part of this offering, the Coupa Inclusion Initiative enables companies to find, select, and direct spend to hundreds of thousands of diverse and inclusive suppliers.
- Through Coupa Sourcing Advantage, Coupa held a community sourcing event for 22 customers, delivered over five million face masks, four million gloves, five hundred thousand ounces of hand sanitizer, and other essential supplies for frontline healthcare workers and local communities.
Environmental
Coupa strives to reduce its own environmental footprint, looking at factors including sustainable procurement, energy and emissions, and waste.
- Coupa measured its 2019 and 2020 carbon footprint as a starting point to inform a carbon neutral strategy for Scope 1, Scope 2, and Scope 3 Business Travel greenhouse gas (GHG) emissions.
- As part of its sustainable procurement program, the company formalized its Supplier Code of Conduct, communicating expectations for suppliers to respect people, uphold human rights, protect the environment, and act ethically.
Social
Coupa is cultivating a collaborative, diverse, and inclusive culture and is enabling employees, suppliers, and communities to thrive.
- As the company continues to advance its Diversity, Equity, and Inclusion (DEI) efforts and strengthen its pipeline of talent, it launched two employee resource groups - Engage, which stands to uplift and expand underrepresented communities, and Illuminate, to support the LGBTQ+ and ally community.
- In 2020, Coupa made nearly $600,000 in charitable donations and $75,000 in educational scholarships to students in need through the Coupa Cares program.
Governance
Coupa is committed to reducing risks in global supply chains through risk management, data privacy & security, and ethical conduct.
- Coupa achieved Federal Risk and Authorization Management Program (FedRAMP) Ready status after a third-party data security and risk review.
- With the appointment of an additional woman to the Board of Directors, women now make up approximately 30% of the company's Board.
"The progress we've made over this past year was accomplished through strong cross-functional collaboration and passion across our global teams," said Jon Stueve, Chief Legal Officer, Coupa. "As we advance on our ESG journey, I'm inspired by the collective global impact we can continue to have through our vibrant community of employees, customers, partners, and suppliers."
The full report can be accessed here.
About Coupa Software
Coupa empowers companies around the world with the visibility and control they need to spend smarter and safer. To learn more about how Coupa can help you spend smarter, visit https://www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.
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SOURCE Coupa Software
