Sustainability Profile: Veritas

Veritas is a global leader in enterprise data management focused on helping organizations ensure their business-critical applications are available, internal data is protected, and essential applications and data are easily recoverable. Veritas partners with enterprises to work through a wide range of business challenges. The rapid growth in data, data storage, ransomware and cloud computing are all made simpler with Veritas. The company’s products help streamline the management and security of data in a cost-effective manner, ensuring business continuity while meeting compliance needs.

Market leadership for Veritas extends beyond its products and services and includes the commitment to being a global leader in corporate citizenship and sustainability. The company has identified and supports The 10 Principles of the United Nations Global Compact and is actively incorporating most of the Sustainable Development Goals in its strategic development process. Some of the development goals highlighted by Veritas include quality education, gender equality, sustainable cities and communities, responsible consumption and production and climate action. Greg Hughes, Veritas CEO, has joined over 550 CEOs which have come together for CEO Action for Diversity & Inclusion, and has committed himself and Veritas to advancing diversity, equity and inclusion in the workplace. The company has proudly participated in the TechWomen mentorship program, an initiative of the U.S. Department of State’s Bureau of Educational and Cultural Affairs. The program brings together emerging women leaders in science, technology, engineering and mathematics globally for a mentorship and exchange program.

Veritas’ commitment to environmental sustainability is demonstrated through the company’s creation and expansion on its “5R Campaign” (Refuse, Reduce, Reuse, Repurpose and Recycle). This program encourages employees to take small actions to make change, such as refusing single-use items and using reusable dishware in its global offices. The company has also made a significant commitment to reducing its greenhouse gas emissions and has successfully reduced office electricity emissions by 24% and long-term business travel emissions by 37%. During fiscal 2021, Veritas will submit their greenhouse gas emission reduction plans to the Science-Based Targets initiative aligned to the 1.5 degrees Celsius SBT scenario, as outlined in the Paris Climate Accord.

To ensure sustainable cities and communities, Veritas and its employees have donated over $1.4MM to charities worldwide inclusive of corporate matching programs. The company has also partnered with TechSoup to donate over $2.8MM of in-kind software licensing donations to nonprofits around the world. In Roseville, MN, Veritas employees hosted their first Pro Bono Workshop that matched employees with local nonprofit organizations to help those organizations address critical operational challenges providing employees the opportunity to support societal challenges they care about while furthering their personal and professional development.

As a leader in enterprise data management, Veritas has been recognized for 15 consecutive years as a leader in Gartner’s Magic Quadrant for Data Center Backup and Recovery Solutions. Veritas views its role as a leader in corporate responsibility and sustainability to be equally important and a source of value creation for its employees, stakeholders and customers.

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By Marcus Moore


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Zeo Capital Advisors is a fundamental investment manager with a short-duration credit mutual fund, a sustainable high yield mutual fund and separately managed accounts. Marcus Moore authored this piece and is the Assistant Portfolio Manager and Senior Credit Analyst at Zeo Capital Advisors. For more information contact Zeo directly at 415-875-5604 or visit www.zeo.com.

Past performance is not indicative of future performance. This Company was not selected for performance-based reasons, and was instead selected to emphasize the types of issuers that Zeo Capital Advisors, LLC (“Zeo”) seeks to invest in based on its sustainability mandate.

The methodology for initially preparing a Sustainability Profile for an issuer requires the issue to be among Zeo’s largest holdings as of quarter-end. As of March 31, 2021, Zeo’s clients owned securities issued by this Company. Sustainability Profiles are shared to provide information about the sustainability selection process and may be used even after an issue is no longer one of the largest holdings in a strategy.

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