Sprout Social : 2024 ESG Impact Report

Published: 2024-12-04 15:03:05 ET SPT

Disclaimer

Readers are cautioned that certain statements made by Sprout Social relating to environmental, social and governance ("ESG") matters, including those included on their sustainability webpage or ESG Report (such statements, "ESG Statements"), may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include any statement that does not directly relate to any historical or current fact. Forward-looking statements may project, indicate or imply future results, events, performance or achievements, and such statements may contain the words "expect," "intend," "plan," "anticipate," "estimate," "believe," "will be," "will continue," "will likely result," and similar expressions. In addition, any statement concerning future performance, ongoing strategies or prospects, and possible actions taken by Sprout Social are also forward-looking statements. Forward- looking statements are based on current expectations and projections about future events and are inherently subject to a variety of risks and uncertainties, many of which are beyond Sprout Social's control, that could cause actual results to differ materially from those anticipated or projected. Developments in any of the risks or uncertainties facing Sprout Social, including those described in risk factors included in annual and quarterly reports and other filings with the Securities and Exchange Commission ("SEC") made by Sprout Social, could cause results to differ materially from results that have been or may be anticipated or projected. Given these risks and uncertainties, readers should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Sprout Social expressly disclaims any obligation or undertaking to update these statements to reflect any change in expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking statement is based.

The inclusion or absence of information in Sprout Social's ESG Statements should not be construed to represent any belief regarding the materiality or financial impact of that information.

ESG Statements may be based on expectations and assumptions that are necessarily uncertain and may be prone to error or subject to misinterpretation given the long timelines involved and the lack of an established single approach to identifying, measuring and reporting on many ESG matters. Calculations, statistics, and certain facts included in ESG Statements may be based on third-party information, current estimates, assumptions and projections and, therefore, subject to change. Sprout Social's ESG Statements have not been externally assured or verified by independent third parties.

Sprout Social's ESG Statements may contain links to other internet sites or references to third parties. Such links or references are not incorporated by reference into the applicable ESG Statement, and Sprout Social cannot provide any assurance as to their accuracy.

These ESG Statements represent current Sprout Social policy and intent and are not intended to create legal rights or obligations.

Environmental, Social and Governance Impact Report 2024

Introduction

In our 2024 ESG impact report, we've focused on establishing a baseline of existing initiatives specific to our environmental, social and governance (ESG) focus at Sprout Social, Inc. ("Sprout").

At Sprout, the decisions we make about our product, our people and our business are always guided by our values and our vision for the future. We're committed to making sustainable and equitable choices that leave an impact we can be proud of. This report is one of many steps we are taking to increase transparency and establish accountability as we work to scale our business over the coming years.

Unless stated otherwise, the information presented in this report is as of June 30, 2024.

Environmental, Social and Governance Impact Report 2024

Table of contents

2023 Highlights

Purpose & culture

Caring for our environment

Energy use

Environmental operations

Putting people first

Hiring

Employee development

Recognition & feedback

Employee satisfaction & engagement

Employee benefits & rewards

Diversity, equity & inclusion

2023 Highlights

2024 Highlights

Community Resource Groups (CRGs)

Staying open, honest & accountable

Corporate governance highlights

Board of directors

Risk mitigation

Building data privacy into organizational culture

Our policies

Next steps

Appendix

Environmental, Social and Governance Impact Report 2024

Introduction

2023 Highlights

We're proud to have been recognized by a number of organizations

and publications for our team's continued work to drive positive

change for our planet, our people and our communities.

Purpose & culture

At Sprout, we don't view culture as a set of perks but

rather an intentional approach to our employees, customers

and communities.

Our ESG objectives are aligned with the seven core values that

guide our company:

Care Deeply

Embrace Accountability

Champion Diversity, Equity and Inclusion

Promote Open, Authentic Communication

Seek Simplicity

Solve Hard Problems

Celebrate Change

Environmental, Social and Governance Impact Report 2024

Caring for our environment

Sprout's largest impact on the environment is our electricity consumption. Our strategy for minimizing this impact is to purchase energy-efficient equipment, operate energy-efficient offices and partner with suppliers that share our commitment to environmentally sustainable practices. In addition, we invest time in consolidating our machinery where possible to reduce the amount of energy being utilized.

Environmental, Social and Governance Impact Report 2024

Caring for our environment

Energy use

Environmental operations

In addition to prioritizing the purchase of Energy Star-rated devices, we are committed to encouraging and enforcing energy-saving best practices in day-today usage where possible.

>90%

100%

electronics purchased are

of our US locations are Energy

Energy Star-certified

Star-certified buildings

We're also passionate about waste reduction. Since 2023, we have worked with Revin, a company that collects and repurposes our depreciated laptops. This decreases toxic electronic waste, takes the pressure off landfills, reduces overconsumption, and saves the energy required to produce new raw materials.

Our US offices are Energy Star Certified and our Dublin office has recently shifted their energy supplier to utilize 100% green energy.

553

788

1659

computers repurposed

e-waste (lbs)

estimated e-waste

YTD

recycled YTD

(lbs) prevented YTD

Does Sprout follow a formal environmental policy?

While we don't follow a formal environmental policy, our office-based and remote employees are cognizant of their impact on the environment and make every effort to conduct business in a sustainable manner.

Does Sprout follow specific waste, water, energy and/or recycling policies?

We utilize compostable plates and utensils, recycle paper, plastic, glass and electronics in our US locations, and provide local recycling options wherever municipalities support it.

Does Sprout use a recognized energy management system?

No. We do not use a recognized energy management system.

Environmental, Social and Governance Impact Report 2024

Putting people first

At Sprout, we're committed to building a diverse team, fostering an inclusive culture and investing in equity across our organization. We also know that outside our walls, the world isn't always as equitable. That's why Team Sprout is also working to help diversify the tech industry and engage in our communities.

While we're happy with our progress, we still have work to do. We're continuing to invest in equity by partnering with our leaders to make systemic change, educating our team and continuing to support our community through philanthropy, service, allyship and action.

Environmental, Social and Governance Impact Report 2024

Putting people first

Hiring

Sprout prioritizes creating an equitable hiring experience for every candidate. Over the past few years, we have been implementing changes to our recruitment practices to ensure we are accessing the widest pool of candidates for available positions.

What does that look like in action?

Mandatory unconscious bias training for all team members

A diverse pool of referral networks

Remote, hybrid and flexible opportunities

Equitable compensation

DEI community resource coffee chats

1453

total employees

217

new hires YTD in 2024

Employee development

Our commitment to leadership development and developing careers at Sprout continues to be a key focus area.

We invest in leadership development through our GOLD (Growth Oriented Leadership Development) program. The program consists of 'Accelerate,' which is tailored towards U.S.-based high performing BIPOC individual contributors and their managers; 'Ignite,' which focuses on new leaders, including those new to the role of leadership itself or to leadership at Sprout; 'Renew,' which is designed for People leaders that focus on 1:1 people management; 'Evolve,' which is tailored towards experienced managers and directors; and 'Amplify' (launched in 2022) which is designed for our most senior leaders.

In addition to supporting our leaders, in late 2022, we created and launched The Career Studio, our first-ever career development resource center for all employees. This is an approachable virtual hub of career development tools designed to empower all employees to take ownership of their career journey at Sprout.

We continue to invest in our Grow@Sprout digital and on-demand platform, which provides education and development opportunities through internal programs and third-party vendors.

Environmental, Social and Governance Impact Report 2024

Putting people first

Employee feedback & recognition

650

courses offered through

participants in Grow@Sprout

Grow@Sprout & GOLD

& GOLD courses

We are a winning team emphatic about celebrating and recognizing each other's efforts.

Started in 2015, our Value Awards are an opportunity to recognize team members who truly represent what Sprout is and who we aspire to be. They aren't just kudos for great work, they are our way of recognizing those individuals who embody Sprout's values and celebrating their contributions to our company and culture. Recipients excel at their day-to-day role and find ways to go above and beyond to improve our product, our company and its processes, and our unique culture. Awards are given out quarterly through the year at our full company All-Hands meetings.

The winners of our Value Awards have a budget of $2000 for their prizes. Additionally, there is a charitable donation of $500 to the selected nonprofit of each winner's choosing. Recent charities have included PAWS, Native Justice Coalition and National Alliance on Mental Illness.

Here's a photo from one of our surprise Value Award meetings, with our winner in the top right corner:

Environmental, Social and Governance Impact Report 2024

Disclaimer

Sprout Social Inc. published this content on December 04, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on December 04, 2024 at 20:02:02.111.