AspenTech has long been recognized as a leader in helping asset-intensive industries become more efficient and reach their sustainability goals. With the release of our 2024 Sustainability Report, titled Innovating for a Changing World, we are not only continuing that commitment but also accelerating our own journey in sustainability.
Dr. Paige Marie Morse, Enterprise Director for Sustainability, and Jennifer Dudgeon, Sustainability Director, who led the effort to develop this report and lead our corporate sustainability efforts, explain more about the importance of the report.
Who is this report for?
This report is for all AspenTech’s current and future employees, customers, partners and investors.
Why do we publish this report annually?
AspenTech’s sustainability report is a vital tool for communication, accountability and value creation. This annual publication demonstrates our commitment to continued progress both reporting on and integrating material sustainability principles into our business and aligning with the growing expectations of all our stakeholders - customers, partners, employees, investors, regulators and society.
Specifically, this publication does the following:
- Through our increased transparency around our material Environmental, Social and Governance issues we build trust among all stakeholders. Including our employees
- We hold ourselves accountable to our principles by publicly tracking progress on those issues that are important to our stakeholders, like our greenhouse gas (GHG) emissions, energy consumption, training and Diversity, Equity and Inclusion metrics
- We demonstrate that we are a forward-thinking company that is preparing to meet our own emerging regulations and support those of our customers
- By sharing our sustainability initiatives and journey we are strengthening AspenTech’s reputation, showcasing leadership and innovation in addressing global challenges
- Increases engagement among current and future employees
- Demonstrates our commitment in this space and that we are aligning with our partners and customers drive to become more sustainable companies, thus giving us a competitive advantage
What is the main message you want people to take away from this report and how is it different from the previous four reports AspenTech has released?
AspenTech’s Sustainability Report is a cross-functional effort led by Jennifer. No person or department is responsible for its entirety. We work together, across our company, to align our strategy and targets. And it will take every AspenTech employee’s cooperation and collaboration for us to continue to grow this program, achieve our targets, and meet our stakeholder growing expectations.
This is the fifth report of its kind, but it does have a lot of firsts.
- The first time we are aligning with internationally recognized reporting standards, like the Global Reporting Initiative (GRI) and the Task Force on Climate-Related Financial Disclosures1 (TCFD). Both prepare AspenTech to meet emerging regulatory obligations and give stakeholders, including investors, a more complete picture of how we assess our non-financial risks and opportunities.
- The report discloses the results of our double materiality assessment which identifies those environmental, social and governance issues that are most important to our stakeholders both from a financial perspective and how we impact people and the environment.
- It reports Scope 1, 2 and 3 GHG emissions going back to fiscal year 2022.
- It reinforces our commitment to our net-zero targets.
Going forward, this Sustainability Report will be a key resource to help current and future customers, shareholders and employees understand our progress as a company and which avenues we can pursue to make additional progress.
We encourage you to read the full report and thank you all for your hard work as we create a more sustainable world for the future.
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