Climate Change Data

Environmental Metrics

ESG Focus Areas

• Electronic Waste & Recycling
• Energy Management
• Quality of Products & Services and Logistics
• Employment, Career Management, and Skill Development
• Customer Data Privacy & Cybersecurity
• Health, Safety, and Wellbeing in the Workplace
• Community Involvement & Giving
• Economic Performance
• Ethical Conduct & Anti-Corruption
• Innovation in Products & Services
• Risk Management, Legal Frameworks, and Regulations
• Local Economic Impact
• Social and Environmental Investment

Environmental Achievements

• 30% reduction in paper purchased in 2019
• Achieved targets to increase recycling of all e-waste from various office locations in 2019
• 0.6% reduction in average monthly fuel usage in Israel (vs. a target of 3%), and 6.5% reduction in total fuel consumption compared to the prior year in Israel

Social Achievements

• Increased the number of women overall in the company by 7%, to 27%, and increased the number of women within our leadership team by 13% over the past two years
• Over 25,000 training courses delivered to employees and contractors in fiscal year ended January 31, 2020
• Verint Next Generation program enabled employees to engage in community activities globally

Governance Achievements

• Compliance with UK Modern Slavery Act
• Comprehensive corporate compliance training program covering Code of Conduct, Information Security, Anti-Corruption, Insider Trading, and Trade Compliance
• Established security protocol managed through ISO 27001 Information Security Management Standard

Climate Goals & Targets

Environmental Challenges

• 7% increase in electricity consumption per employee in 2019 (primarily due to increased employees and office locations)
• Managing environmental impact throughout the value chain with a large and dispersed supply chain

Mitigation Strategies

• Implemented energy efficiency measures (UPSs, light switches, efficient lighting, digital timers, energy meters, new chillers)
• Set performance targets for 2020: 5% reduction in total energy consumption and 10% reduction in energy consumption per employee
• Closely monitor material use and adhere to regulations; work with suppliers to improve compliance with environmental policies

Supply Chain Management

Supplier Audits: Annual assessment of key suppliers' compliance with environmental, health and safety, and social standards

Responsible Procurement

• Third Party Code of Conduct
• Environmental Health and Safety Policy
• Green procurement practices
• Conflict Minerals Policy
• Social procurement practices (targeting minority- and women-owned businesses)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 14001, ISO 9001, ISO 27001

UN Sustainable Development Goals

• 4 (Quality Education)
• 8 (Decent Work and Economic Growth)
• 9 (Industry, Innovation and Infrastructure)
• 12 (Responsible Consumption and Production)

Verint mapped its activities and commitments based on the UN SDGs, focusing on those correlating with its business.

Environmental Metrics

ESG Focus Areas

• Diversity and Inclusion
• Community Outreach
• Employee Development

Social Achievements

• Increased the number of women within our business leadership team by 5% to 18% over the last fiscal year.
• Established a Diversity & Inclusion Council in 2020.
• Verint employees in the United States donated over $300,000 of paid time off to children’s charities in 2020.
• Globally, over 500 Verint employees donated their time by participating in more than 50 events to help raise money, clothing, and food for those that are underprivileged in 2020.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting customer spending and operations.
• Competition in the market.
• Rapid technological changes and evolving industry standards.
• Managing investments and growth initiatives.
• Reliance on third-party suppliers.
• Retaining and recruiting qualified personnel.
• Significant international operations and associated risks.
• Government contracts and associated procurement processes.
• Complex and changing regulatory environments.
• Data privacy and protection.
• Cybersecurity risks.
• Intellectual property protection.
• Significant leverage from debt.
• Liquidity and working capital issues.
• Contingent liabilities from past acquisitions.
• Changing accounting principles and standards.
• Internal controls over financial reporting.
• Goodwill and intangible asset impairment.
• Currency exchange risk.
• Stock price volatility.
• Activist stockholders.
• Risks associated with the spin-off of Cognyte.

Mitigation Strategies

• Implemented cost-reduction actions (reducing discretionary spending, decreasing capital expenditures, reducing workforce-related costs).
• Resumed investments and spending based on improved business environment.
• Continuously developing new, innovative, high-quality products and services.
• Proper allocation of limited investment funds and other resources.
• Expanding cloud business and operations.
• Enhancing existing operations and infrastructure.
• Establishing contractual protections with key providers.
• Investing in employee retention and recruitment.
• Implementing policies, procedures, and systems for regulatory compliance.
• Implementing policies and procedures for data privacy and information security.
• Continuously working to maintain secure and reliable systems.
• Regularly reviewing new areas of technology for patenting.
• Managing investments and growth initiatives.
• Seeking indemnification from Mavenir for liabilities from past acquisitions.
• Maintaining effective internal controls over financial reporting.
• Annually testing goodwill for impairment.
• Using foreign currency hedging.
• Implementing cost-reduction actions in response to the COVID-19 pandemic.
• Entering into convertible note hedge transactions and selling warrants to reduce exposure to potential dilution.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Energy use & GHG emissions
• Diversity, equity & inclusion
• Employee well-being, benefits & development
• Community involvement & giving
• Ethical conduct
• Legal & regulatory compliance
• Data privacy
• Information / cybersecurity
• Artificial intelligence
• Risk management

Environmental Achievements

• Implemented a hybrid work model, reducing office footprint and associated emissions
• Migrated to cloud services, leveraging providers with emission reduction commitments
• Implemented an e-waste diversion program, preventing approximately 12 metric tons of e-waste from landfills in FYE 24
• Achieved ISO 14001 certification in certain locations

Social Achievements

• Maintained below-average employee attrition rate for the industry
• Launched Verint Next-Generation Program engaging employees in community service projects
• Held a Global Day of Giving Event with hundreds of employee participants
• Donated over $550,000 to charitable organizations in FYE 24
• Enhanced learning and development options with Verint Academy and vWellness Platform
• Achieved Great Place to Work® certification in most eligible countries

Governance Achievements

• Increased female representation on the Board of Directors
• Adopted a Code of Conduct covering ethical business conduct, inclusive work environment, data protection, and conflict of interest
• Implemented a robust compliance program including anti-bribery, anti-corruption, and trade compliance measures
• Established a Global Privacy Office and regional Data Protection Officers
• Implemented a comprehensive cybersecurity program aligned with industry best practices (SOC 2, PCI-DSS, ISO 27001, NIST CSF, NIST 800-53)
• Established Business Continuity Management processes aligned with ISO 22301 principles

Climate Goals & Targets

Environmental Challenges

• Reducing energy consumption and emissions
• Increasing diversity and inclusion across the organization
• Managing cybersecurity risks
• Maintaining compliance with evolving data privacy regulations

Mitigation Strategies

• Partnering with cloud providers committed to emission reduction
• Implementing diversity and inclusion initiatives, including outreach to minority-based organizations and colleges
• Implementing a comprehensive cybersecurity program with regular vulnerability assessments and employee training
• Establishing a Global Privacy Office and regional Data Protection Officers to monitor and comply with data privacy regulations

Supply Chain Management

Supplier Audits: Annual

Responsible Procurement

• Third-party Code of Conduct
• Conflict Minerals Policy
• Encouraging relationships with minority- and women-owned businesses

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SASB, GRI, TCFD

Certifications: ISO 14001 (certain locations)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Great Place to Work® certification