Inovalon
Climate Impact & Sustainability Data (2020, 2022, 2023)
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Data Stewardship and Security
- Environmental Sustainability
- Community Commitment
- Diversity, Equity and Inclusion
- Ethical Behavior
Environmental Achievements
- Selected vendors like Amazon Web Services and Microsoft Azure for external data storage, leveraging their energy and carbon efficiency (up to 93% and 98% respectively compared to on-premise solutions).
- Corporate headquarters in Bowie, Maryland, and Washington D.C. offices located in LEED Gold certified buildings.
- Initiated green initiatives including environmentally efficient printers, recycled building materials, and paper recycling.
Social Achievements
- Created eight associate affinity groups to promote diversity and inclusion.
- Offered competitive compensation and benefits, including parental leave, tuition reimbursement, and an associate discounted stock purchase plan.
- Contributed direct funding and thousands of associate volunteer hours to various charities focusing on youth development, healthcare research, and community support.
Governance Achievements
- Strong corporate governance structure with oversight bodies like the Security Council and Executive Promotion Committee.
- Independent Board of Directors and a Lead Independent Director.
- Commitment to high ethical standards, outlined in the Code of Conduct and Ethics, covering topics such as integrity, compliance, diversity, and anti-retaliation.
Climate Goals & Targets
Supply Chain Management
Responsible Procurement
- Procurement supplier diversity program targeting increased spending with women- and minority-owned businesses.
Climate-Related Risks & Opportunities
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Diversity, Equity, and Inclusion (DE&I)
- Associate Engagement and Support
- Data Stewardship and Security
- Environmental Sustainability
- Community Involvement
Environmental Achievements
- Reduced environmental impact through cloud-based operations and data-driven efficiency in healthcare.
- LEED Gold certified and Energy Star labeled corporate headquarters.
Social Achievements
- Launched Race and Ethnicity Data Enrichment offering to improve healthcare equity.
- Improved data completeness and accuracy, reducing 'unknown race' from 41.2% to 0.8% and 'unknown ethnicity' from 100% to 1.8% in a study.
- Over 11,000 hours invested in DE&I training by associates.
- All employees received unconscious bias training in 2022.
- 47% women and 36% minority representation in the associate population as of October 1, 2022.
- Procurement Supplier Diversity program to increase spending with women- and minority-owned businesses.
- Associate Pulse survey with 92% response rate, indicating high levels of associate trust and empowerment.
Governance Achievements
- Strong oversight bodies such as Security Council, Executive Promotion Committee, DE&I Steering Committee, and Intellectual Property Working Group.
- Commitment to high ethical standards, outlined in the Code of Conduct and Ethics.
- HITRUST and Payment Card Industry Data Security Standard certified.
- Trusted partner to the Centers for Medicare & Medicaid Services under their Qualified Entity Program.
- Issues annual and periodic Service Organization Audit SOC1 and SOC2 Type 2 reports.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Procurement Supplier Diversity program
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: HITRUST, Payment Card Industry Data Security Standard
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Race and Ethnicity Data Enrichment offering
Awards & Recognition
- Not disclosed
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Diversity, Equity, and Inclusion (DE&I)
- Environmental Sustainability
- Data Stewardship and Security
- Community Involvement
- Ethical Behavior
Environmental Achievements
- Achieved LEED Gold certification and Energy Star label for corporate headquarters in 2008.
- Utilized cloud-based platforms (AWS and Azure) for data storage, contributing to energy efficiency and carbon reduction.
- Implemented green initiatives in offices, including using recycled materials in furniture and environmentally friendly printing practices.
Social Achievements
- Achieved Great Place to Work® Certification in 2023.
- Increased female representation at the C-suite from 25% (2022) to 38.5% (2023) and minority representation from 8% to 22%.
- Invested over 12,000 hours in DE&I training in 2023.
- Implemented a Procurement Supplier Diversity Program to increase spending with minority- and women-owned businesses.
- Launched quarterly DE&I Thought Leadership Program with 400-700 attendees per month.
Governance Achievements
- Maintained high ethical standards, guided by a Code of Conduct and Ethics.
- Implemented an enhanced competency model, including a “Build an Inclusive Work Environment” success factor.
- Regularly conducts employee pulse surveys to gather feedback and drive improvements.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Procurement Supplier Diversity Program
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: Great Place To Work® Certified, HITRUST®, Payment Card Industry Data Security Standard
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