SKILLSOFT’S 2023 ESG IMPACT REPORT: FROM PROMISE TO PROGRESS TO POTENTIAL
Skillsoft published its first ESG Impact Report at the end of 2022 after reflecting upon how we addressed environmental, social, and governance initiatives.
Our first report was instrumental in clarifying the pivotal role that ESG plays in shaping our identity and impact as an organization. It became a powerful tool for us as we looked at how we might address ESG concerns head-on.
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Our second annual report builds upon that inner reflection. For us, truly understanding how our team works to serve the planet, people, and our stakeholders has been foundational as we navigate the complexities of today’s business landscape while fostering a sustainable and ethical corporate culture.
We learned some fundamental truths about ourselves:
- We care about the planet. As an innovator in the online learning space, Skillsoft has helped organizations digitally transform and support distributed workforces. We’ve had the honor of training millions of people – helping them reskill and upskill for professional growth and longevity with a significantly smaller impact on our natural resources.
- We care about people. We believe in the life-changing power of learning. And we believe that learning is the key to opportunity. Our employees have access to the same learning resources as our customers. We believe so much in the power of our solution, that we aim to donate 50 million licenses, by 2030, to marginalized populations to whom access to skilling can be life-changing.
- We care about our stakeholders. We know that cultivating the right mindset in every employee is necessary to mitigate risk and promote a high-performance environment where both the individual and the business can thrive while making the world a better place.
The promise of ESG in any organization, including ours, lies in the profound potential to maximize its purpose and impact. By embracing ESG, we are making an outward commitment to long-term value creation, resilience in the face of evolving challenges, and cultivating positive relationships with stakeholders.
Cultivating a Legacy in ESG Excellence
ESG is our promise to navigate a complex business landscape with integrity, contribute to a sustainable future, and leverage our organizational strengths as a force for positive change. To make good on this promise, we must continuously refine and expand our ESG initiatives to meet existing standards and set new benchmarks and goals for corporate responsibility.
In 2023, we aimed to deepen our commitment to being a responsible business for our stakeholders, customers, and planet. We’re pleased to report that we made critical progress this year:
- We set a benchmark. For the first time, Skillsoft measured our global greenhouse gas emissions (Scope 1, 2, and partial 3) with the intention of establishing a science-based target. Once set, our target(s) will be the primary forum where we demonstrate our emission-reduction strategy and impact. And, with a view toward transparency and accountability, we also made submissions covering our global operations to CDP.net, EcoVadis, and the United Nations Global Compact.
- We committed to DEI. Thanks to insights from our annual Global Culture Survey, we uncovered three internal pillars for driving social progress. We’ve expanded our dedication to underserved communities through strengthened partnerships and introduced a senior leadership program which incentivizes breaking down biases through DEI-aligned objectives. CEO Jeff Tarr also signed the CEO Action Pledge for Diversity & Inclusion.
- We honed our efforts. In 2023, we conducted our first double-materiality assessment, providing us with a fresh focus for future-forward ESG initiatives. We’ve expanded our ESG steering committee and increased employee training, fostering a culture that understands ethical practices.
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The Transformative Impact of ESG Progress on Future Success
Our ESG efforts serve as a compass that guides us toward future success and unlocks untapped potential. Prioritizing ESG enhances our resilience, fosters long-term value creation, and attracts conscientious investors.
That’s why we know our progress in 2023 will lead to future potential.
- We look forward to setting and measuring our progress toward science-based targets. And we expect to engage our suppliers in supporting our ESG plans and goals, weaving sustainability into our end-to-end value chain.
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- We sifted through thousands of points of feedback and developed three thematic pillars for driving social progress internally, and we anticipate the emergence of a more diverse, equitable, and inclusive global culture.
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- In addition to etching clearer guardrails with our sustainability governance practices, we are devising comprehensive policies for using artificial intelligence (AI) that prioritize safety, transparency, and ethics, paving the way for a more innovative — and sustainable — future.
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Thank you for joining us on our ESG journey. Here’s to the pursuit of knowledge and to doing better.