ESG and Corporate Sustainability
Corporate Sustainability at Guidewire
“Our focus remains to create a company and culture that people are proud to be part of, and to support the property and casualty (P&C) industry that is critical to our world’s future prosperity.”
- Mike Rosenbaum, Chief Executive Officer
2023 Guidewire ESG Report
Guidewire’s second annual ESG Report discusses the company’s ESG efforts and covers our fiscal year 2023 (August 1, 2022 to July 31, 2023) for ESG metrics. This report reflects our company’s global performance, including subsidiaries wholly owned by Guidewire.
Leading with Purpose: FY23 Highlights and Achievements
81%
Embracing good governance is a strategic imperative tying to our core value of Integrity, and defines how we show up for our customers, stockholders, employees, and the industry. Effective governance enables us to build trust and promote a culture that supports transparency, risk management, ethical conduct, and accountability.
Winston King
Our Materiality Approach
In fiscal year 2023, we conducted our company's second ESG “materiality” assessment in collaboration with Anthesis in order to identify relevant ESG topics and assess Guidewire's strengths and opportunities in each area. The ESG materiality review considered a broad range of environmental, social, governance, and economic issues important to both Guidewire's business and its external stakeholders.
Guidewire’s ESG Strategy
As part of Guidewire’s ESG materiality assessment, the company validated the three ESG pillars established in our 2020 ESG materiality assessment and both substantiated and added programs under each pillar. Additionally, we continued to evolve our product sustainability strategy, which spans all three pillars and connects to programs in each pillar.
Governance
Governance and Ethics
We foster trust and integrity by building and evolving corporate governance and compliance frameworks that support transparency, risk management, ethical conduct, and accountability.
Security and Data Privacy
As a company that delivers products as a cloud service, Guidewire takes a comprehensive approach to the governance of information and physical security and data privacy. As we grow our business and invest in the infrastructure, personnel, best practices and policies required to protect the data entrusted to us, we embrace a security and privacy first mindset.
Responsible Sourcing and Procurement
We are committed to evolving our Supplier Sustainability and Supplier Diversity programs, holding our suppliers accountable to the same high ESG standards to which we hold ourselves.
Trust and integrity are the bedrock of Guidewire culture.
Resources
Social
Diversity, Equity, Inclusion, and Belonging (DEIB)
We promote a culture of diversity, equity, inclusion, and belonging at all levels of the organizations, across the employee lifecycle, and with both business partners and local communities.
Talent Management
We’re committed to attracting and retaining our talented hybrid workforce by creating an environment of teamwork, collaboration, and continuous feedback. The nature of work continues to evolve, and staying on the forefront means giving employees opportunities for personal and professional development.
Guidewire Gives Back (GGB)
GGB is a program centered around employee engagement and making a measurable impact through both the hours volunteered by our Guidewire community and financial contributions. GGB strategy, programs, and collaborative partnerships reflect Guidewire employees’ passions while supporting our corporate mission.
At Guidewire, innovation thrives at the nexus of diversity, equity, inclusion, and belonging.
Early Innovators Challenge with CNA / Guidewire / Thurgood Marshall College Fund (Chicago, USA)
Harvest Hope GGB event (Guidewire US)
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Environment
Our key environmental sustainability initiatives include:
Emissions Reduction
Setting and making progress on emission reduction goals based on climate science
Introducing innovations and efficiencies in our operations
Incorporating sustainability throughout our value chain
Empowering our employees in sustainable efforts
Climate Resilience
Building resilience by assessing and managing climate-related risks and opportunities
Climate Goals
Reduce Scope 1 and Scope 2 GHG emissions by 50% by fiscal year 2030 compared to our fiscal year 2020 baseline;
Source renewable energy for 100% of our global power needs annually by fiscal year 2030;
Develop a Green Fund to finance internal emission reduction initiatives and critical external climate mitigation projects;
Reduce absolute Scope 3 GHG emissions from fuel and energy related activities, business travel, and employee commuting by 42% by fiscal year 2030 compared to our fiscal year 2020 baseline; and
Engage with 50% of suppliers by emissions so that they have SBTs by fiscal year 2028.
Guidewire has committed to setting science-based targets.
GGB event - Clean Coasts Ireland (Dublin, IE)
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Product Sustainability
Product Sustainability both complements and spans our E,S, and G pillars and also maps to the following four ESG topics: Climate Resilience, Emissions and Energy, Greater Access to Insurance, and Security and Data Privacy.
Outside of delivering on our enterprise climate goals, we are helping our
clients deliver on their sustainability goals through:
Guidewire defined its Product Sustainability strategy in fiscal year 2023.
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