2022
Sustainability Report

Pexip’s 2022 Sustainability ReportAbout Pexip Sustainability in Pexip Our People Governance

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CEO Statement
In 2022 we saw increased awareness of security globally. The use of video technology inareas such as defense, government, and public institutions, is resulting in increased demandfor communication tools that promote and facilitate privacy, trust, and data sovereignity.
Organizations need to look carefully at who they are willing to share their data with and who
controls the technology. With hybrid working becoming ingrained in companies’ cultures,
knowledge workers will continue to work from a variety of locations and are dependent on
having a video communication platform that lets them do this in both a simple and secureway.
As a global technology company, Pexip is in a uniqueposition to be in the forefront of innovation and truly
contribute to making a difference. Our businessmodel is fundamentally supportive of sustainable
development.
Pexip’s mission is to power video everywhere. Ourrole as a video software company contribute toproviding a viable alternative to travel, whether
that’s for meetings or for other business processes,
and the potential use cases of video stretch far
beyond traditional videoconferencing. Video
now plays a critical role in safely connecting
patients with healthcare providers, making public
services more accessible to citizens, providing
better customer service, and facilitating business
continuity by enabling both internal meetings andcustomer-facing interactions to securely happen
from anywhere. Pexip is at the core of this, and we
enable organizations to make the most of these
possibilities.
As the world looks to video communication
to eliminate unnecessary travel, they are also
focusing on how to extend the lifetime of their videoconferencing equipment and upgrade it in the mostefficient and sustainable ways possible. We havelong believed in the power of video conferencing tocontribute to a sustainable future, from reducing
carbon emissions from travel, reducing e-waste
and network usage, to providing a better work life
balance for our employees, partners and customers.
Trond K. Johannessen
CEO, PexipAbout Pexip Sustainability in Pexip Our People Governance

About this report
The information in this report is in reference
to Global Reporting Guidelines (GRI) reporting
standards, which is part of the World Economic
Forum Report framework. Pexip report material
ESG topics that were deemed significant based on
the materiality assessment aligned with GRI.
Pexip considers SASB’s Software and IT Services
Standard and the disclosures contained within it
to represent financially material ESG topics for thecompany. All disclosures from the Standard havebeen included in this report – see SASB disclosuretable in the appendix on page 29
Data in this report is reported for 1 January 2022
to 31 December 2022 and covers all of Pexip.
For more information, please contact Christine
Arnesen, IR@pexip.com.

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Contents
4

About Pexip

8

Sustainability In Pexip

10

Materiality and stakeholder
engagement

12

Our People

12

Talent Attraction and Retention

14

Diversity

15

Health, Safety and Wellbeing

17

Governance17

Digital Space

22

Ethical business conduct

24

Environmental

24

GHG Emissions and Energy

26

Appendix

27

GRI Index

29

SASB Disclosures

31

Stakeholder Engagement

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The video technology platform that powers everything from ultra secure
government meetings, to personalized banking, to efficient hands-free work.

Our business

Pexip is a global technology company that develops
and delivers a business-grade video communication
platform.
Digital transformation and the broader technology
trends shape our roadmap and drive our industry
forward. When video is how work is done, security
and customization become essential. Pexip’s uniqueand differentiated technology supports customers
on their journey to advance safer, greener, andmore connected organizations. A remote doctorpatient diagnosis in an ambulance. Crisis-readyinfrastructure in the power grid. Protection of data ina critical meeting. An extended reality maintenanceinspection. A true-to-life virtual court room.
Pexip’s customers are mainly large private and publicorganizations. These are organizations for whom

security, privacy and data sovereignty are paramount.
The need to connect different platforms and devices
is also of utmost importance, as is the possibility tointegrate video into existing workflows and platforms
to create customized and branded solutions.
Pexip’s platform is built on the core Pexip Infinity
technology and is secure and scalable. It can be
deployed as a self-hosted, hybrid or as-a-service
option. The Company’s technology is developed
in-house. In the software, Pexip depends on thirdparty licenses for certain components which thecompany pays royalties for, in addition to opensource software components. Pexip also contributes
to open source libraries. The Company’s main
external suppliers are data center providers, network
providers and supporting software providers. The
Pexip platform is sold through a global network ofover 300 reseller partners located in 75 countries,
serving users in 190 countries.

About Pexip Sustainability in Pexip Our People GovernanceOur business areas

Pexip’s offering can be divided into two main
business areas covering different demands from themarket.

Connected Spaces
Pexip offers a solution built on the concept ofinteroperability. Today there is a wide range ofdifferent video solution providers, as well as a great
deal of different hardware used in meeting rooms.
Pexip’s technology enables the bridge between the
different video meeting platforms and the meetingroom devices, allowing the users flexibility and the
optimal experience.

Secure, customized solutions
Secure Spaces and Video Innovation make up
Pexip’s solutions for enabling secure and custom

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solutions. We offer several solutions to enableprivacy, data sovereignty and business continuity.
The solution is modern, on-premises collaboration
solutions that put your organization back in control
of all your data, including its location. And weoffer meeting options that work no matter if othersolutions are down, ensuring business continuity.
Use the cloud of your choice or deploy on self-hosted
solutions to ensure complete data sovereignty.  
Pexip offers solutions that are created for yourworkflow, built as a platform to fit your need, withthe ability to embed video directly into your apps
to create a seamless, frictionless experience, andwith no downloads or plugins needed. Alternatively,
customers can build their own video platform, andconnect with existing incompatible equipment,
protocols, and integrations.

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Global presence
Washington DC

Oslo, London, Stockholm, Paris, Ghent,
Utrecht

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228

34
SydneyTokyo
Singapore329

employees across 26 countries

300
partners

4,000

customers enterprise and public sector

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The Pexip Way

7

Pexip’s company values define how the team interacts with each other, customers, and partners on a daily basis.
They guide business strategy, product development, and the brand. As we continue to evolve and grow as acompany, these values remind us of who we are, where we came from and where we are going.

Professional & Fun

One Team

We are committed to our partners and customers;
we are passionate and fun to work with; we strive forexcellence. We believe in what we do, and we let thatshine through in our interactions with colleagues,
partners, and customers.

We make each other better by respecting,supporting and caring for each other. We
appreciate diversity and with over 300
employees in 26 countries, diversity is in
our DNA.

No Bullshit

Freedom & Responsibility

We say it as it is, with no hidden agenda.
We always speak our minds in a considerateand constructive manner. We do what needs
to be done to help our colleagues, partners,
and customers. We stand for honesty andintegrity.

We encourage initiative and innovation; weare all leaders; we act like owners, making
decisions that are best for Pexip. In otherwords, we hire great people and empower
them with the trust and autonomy to do what
they do best.

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Sustainability in Pexip
We believe in the power of video conferencing to contribute to a sustainable future, fromreducing carbon emissions from travel, reducing e-waste and network usage, to providing abetter work life balance for our employees, partners and customers. We offer solutions fora more interconnected and inclusive world, that emphasizes cooperation. In Pexip, we arecommitted to ensure that our ESG responsibilities convert into positive outcomes.

Pexip is committed to conducting all business
transactions in a proper, fair, impartial, and ethicalmanner. Pexip has put in place a set of eleven policy
documents, including a code of conduct, corporate
governance, and anti-corruption policy that set out
Pexip’s ethical business standards. Pexip’s corporate
governance policy details guidelines for personal
conduct and the role of executive managementin promoting openness, loyalty, and respect. The
guidelines cover issues such as conflict of interests,
confidential information, influence, competition,and the consequence of breaches. All policies are
publicly available on the Company’s website andemployees are expected to adhere to the policies.

Contributing to the Sustainable
Development Goals
The Sustainable Development Goals (SDGs) are acollection of 17 interlinked objectives designed toserve as a “shared blueprint for peace and prosperity
for people and the planet now and into the future”.
The SDGs were adopted by all UN member statesin 2015 and represent an urgent call for action by
all countries in a global partnership to make theworld a better place by 2030. A key component of
the SDGs is the principle of collaboration for theirachievement, including between Government, Civil
Society and Business.

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Pexip strives to make an impact and contribute to these goals and has identified the following SDGs as ones
the primary areas the company aspire to contribute to.

Equal opportunities for all
SDG 4: Quality Education - Ensure inclusive andequitable quality education and promote lifelong
learning opportunities for all.
Video increases the reach of educational institutes
beyond physical proximity, reducing the levelof travel necessary for educators, learners andprofessionals globally and enabling students inremote locations to gain access to higher education.
SDG 5: Gender Equality – achieve gender equality
and empower all women and girls.
SDG 5 aligns closely with Pexip’s value of inclusivity.
We believe that increased use of video meeting has
the potential to reduce discrimination and genderbias in the workplace. Video meetings allow for theability to work from home for increased job flexibility
that further facilitates a good work-life balance. Asa technology company, we are in an industry with alower share of women and in Pexip we have genderequality high on the agenda in all aspects of ourculture and hiring processes. We are committed
to working actively to promote and improve topics
within equality, diversity, and inclusion within Pexip,
and create an open and inclusive workplace.

Developing infrastructure for the future
SDG 9: Industry, Innovation, and Infrastructure Build resilient infrastructure, promote inclusive
and sustainable industrialization and foster
innovation.
Pexip contributes to a positive change in a range ofindustries, by providing alternative ways of working
that has a positive impact on flexibility, convenience,and safety. Knowledge workers will be able to workfrom a variety of locations and having a videocommunication platform lets them do this in botha simple and secure way. Pexip facilitate in safely
connecting patients with healthcare providers,making public services more accessible to citizens,providing better customer service, and facilitating
business continuity by enabling both internal
meetings and customer-facing interactions tosecurely happen from anywhere.

Positive climate impact
SDG 11: Sustainable Cities and Communities Make cities and human settlements inclusive,
safe, resilient and sustainable.
Video conferencing enables high quality meetings
without the need for physical presence. Pexip
contribute to providing a viable alternative totravel, whether that’s for meetings or for otherbusiness processes, enabling our customers to
reduce their GHG footprint by travelling less bothinter-city and longer distances.
Goal 12: Responsible Consumption and
Production - Ensure sustainable consumption
and production patterns.
Goal 12 is one of the key elements of Pexip’s
offering. Pexip’s technology enables corporations
to increase the lifespan of existing hardware byproviding integration with newer technology.
This does not only improve the experience forusers but also reduce e-waste for the companies.
Additionally, Pexip’s architecture enables efficientand responsible energy consumption and theflexibility to choose host servers powered byrenewable energy.

9About Pexip Sustainability in Pexip Our People GovernanceMateriality and stakeholder
engagement

In 2020, Pexip engaged an independent consultant
specialized in environmental, social and governance(ESG) issues to carry out a detailed materiality
analysis. The analysis sets out to inform strategy,
and help Pexip prioritize its sustainability efforts
according to significance of impact.
The 2016 GRI Standards were applied andinvolved input from both internal and external
stakeholders. Pexip’s stakeholders include staff,
investors, customers, partners and regulators. We
have ongoing and continuous dialogue with our
stakeholders, both formally and informally.

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A more detailed description of the assessment
process, including stakeholders engaged andtopics raised, is included in the appendix. Pexip willcontinue to stay updated on all relevant changes instandards and update or extend our assessments
when needed.
An internal review of the analysis was carried out
by the Executive Leadership Team in preparation forthis report and concluded that the identified topics
were still relevant.
When presenting the material aspects in this report,
we have sorted them by people, governance, andenvironmental impact.

Material topics

Digital inclusion& positive
industry impacts

Talent attraction&retention

Intellectual
property rights
Diversity &equal
opportunity

Supply chain
management

LE
OP
PE

GOV
ER
NA
N
C

The following topics have been
determined to be material for Pexip:

E

10

Ethical businesspractices
Health, safety& wellbeing

Data security& privacy

Greenhouse gas emissions
and energy use

E N VIRO N M E N T

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Human rights salience mapping

EU Taxonomy

In 2021 Pexip conducted a human rights salience
mapping, with the help of an independent thirdparty organization. Salient issues are defined by
the UN Guiding Principles on Business and Human
Rights as those issues in which a company is most
likely to impact people severely negatively. As such,companies should prioritize managing these issues.
Several issues were identified as being potentiallysalient for Pexip:

We are closely monitoring the EU’s work on Sustainable
Finance and the EU Taxonomy regulation. The EU
taxonomy is a classification system defining what is
considered sustainable economic activity. The purpose
is to channel capital into sustainable investments andstop greenwashing, and it is considered an important
tool in the implementation of the European Green Deal.
It is also closely linked to the Corporate Sustainability
Reporting Directive (CSRD).

1.

Data security and privacy

2.

Supply chain management

3.

Diversity and inclusion

4.

Digital Exclusion

5.

AI/Machine learning

6.

Right to fair trial/Access to justice7.

Selling to high-risk countries.

Pexip will use this salience mapping to further
develop its human rights due diligence processes,
in line with the Norwegian Transparency Act, whichcame into force in July 2022, and in accordance withthe appropriate GRI standards. Pexip will regularly
review its salient human rights issues.

With the reduction in the number of employees during2022, Pexip is not directly subject by law to therequirements of the EU Taxonomy when the law comes
into force. However, as we still remain a company ingrowth, we do continue to monitor our obligations
and are prepared to report according to this if thecircumstances change. We have therefore performed
a high-level assessment of eligibility to begin our
preparation for future commitments.
We have started the Taxonomy eligibility assessmentwith a top-down approach, based on the NACE
codes. Pexip operations fits within the categoryof “Information and communication - computer
programming, consultancy and related services”.
Pexip’s activities can also be seen to be included in
the EU Taxonomy activities 8.2: Data-driven solutions
for GHG emissions reductions. Based on this, we
believe that all of Pexip’s turnover, capex and opex areassociated with taxonomy-eligible economic activities.
As we will do further Taxonomy assessments thisjudgement of our positioning may change.

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Our People
Our employees are our greatest strength, and attracting and retaining a global, diverse andskilled workforce is crucial to Pexip’s success.

Pexip aims to be a leading people focusedorganization in the industry and focuses heavily on
people and culture, inclusion, and diversity. We rely
on a diverse workforce to succeed, and our goal is tooffer equal opportunities, safe and risk-free working
environment that fosters individual growth andenjoyment at work.
The Pexip Way sits at the core of how people shallexperience Pexip, and our values guides how thecompany recruits, develops and leads. By focusing
on employee development, culture, leadership,wellness, diversity and equality, Pexip is investing in
the future. The company will continue its focus on
shaping a future-ready organization across theseareas.

Talent Attraction and Retention
Downsizing affected large parts of 2022
In Q2’2022 Pexip implemented a cost reduction
program, of which a downsizing of the employees
was a necessary step in order to be able to achieve
profitability going forward. Retaining key and skilledemployees has been very important when going
through the significant reduction in the workforce.
Pexip started the year with 535 employees, andwas at the most in Q2 571 employees, before
ending the year with 329 employees. To ensurethat the downsizing process has been experienced
as a fair process for both leaving employees andremaining ones has been a top priority for us
during the year. We have had to say goodbye toa lot of great colleagues and friends, which haveaffected us all. We have had great focus on going
through these processes in the best way possible
and we do believe the situation have been handled
in the best way possible, and we are ready tocontinue to develop and flourish as a company.
The Pexip Way sits at the core of how people
experience Pexip, and is extended into how thecompany recruits, develops and leads. By focusing
on employee development, culture, leadership,wellness, diversity and equality, Pexip is investingin the future. The company will continue its focus
on shaping a future-ready organization acrossthese areas.

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Communication and collaboration

Training

Communication is always important, but especiallyin times of change. We use tools for real timecollaboration, chat and communication. Pexip hosts
annual kick offs, semi-annual smaller kick offs
and regular all-hands meetings. These events areheld as a mix of live streaming, recordings and inperson interactions. This mix is done to both ensure
consistency and a sense of community across all
our locations, as well as in-person interactions
contributes to increased culture building in eachlocation or all together as a company.

We believe in learning and development as a critical
success factor for both employee engagement andbusiness success. Pexip encourages its employees
to keep their skill set up to date by completing
relevant training courses. We have a comprehensive
learning platform, which delivers a series of training
programs to help develop employees, customers
and channel partners, as well as comply with ISO
regulated training. In 2022, all of our employees
completed the Security Awareness Training. The
company has a three-day virtual orientation programfor new hires to secure successful onboarding,ensuring employees settle in quickly and feel they
are truly part of Pexip from day one.

CultureBuilding a strong and healthy culture that enhances
innovation, excellence, collaboration and ownershiphas been important since the very beginning for
Pexip – and proven to be critical to the Company’s
success. When asking our employees, the Pexip
culture is one of the primary reasons why people
join Pexip. The Pexip Way, as described earlier inthis report, is used as a guide to ensure that ourdecisions and actions enhance the culture and it
helps ensure that productivity per individual doesn’t
decrease while the number of employees increases.

100%of employees completed the Security
Awareness Training in 2022.

About Pexip Sustainability in Pexip Our People GovernanceDiversity
Diversity and inclusion are important at Pexip andthe company offers equal opportunities regardlessof age, gender, culture, religion, sexual orientation,
ethnicity, disability, political opinions, social
background or language. More details about ourEqual Employment Opportunity Policy can be foundin our Code of Conduct at https://investor.pexip.
com/corporate-governance-policy-documents.

Diversity and inclusion create value
The belief held at Pexip is that diversity andinclusion create value. Being able to listen to andacknowledge different opinions, with different
backgrounds, experiences and perspectives, makes
for more effective corporate decision-making. An
inclusive workforce leads to diversity in thinking - a
key driver for innovation and growth. Pexip’s goal
is to offer equal opportunity, safety and a risk-freeworking environment fostering individual growthand joy at work.

End of 2022

GenderEnvironmental

Apendix(% female)

<30

30-50

50+

Board

43%

0%

71%

29%

Executive

29%

0%

57%

43%

All employees

20%

12%

68%

20%

End of 2022

GenderOur diversity, equality and inclusion by
numbers
At the end of 2022, 20% of Pexip’s employees were
women. 43% of our board members are women, and
29% of our senior leadership team were female.
The majority of our employees are aged from 30-50
years (68%), with 57% of the executive team aged
between 30-50 years. The board comprise of 71%
aged 30-50 and 29% over 50. We are working hardto ensure that equal opportunities exist across all
aspects of our business operations and to utilize thevalue that diversity brings.

20%
Age group

Americas

19%

67

APAC

18%

34

30-50

329

Total employess

228

68%
Age group+50

Female:Male:(% female)
21%

14

Pexip is an equal opportunity employer who
evaluates applicants regardless of an individual’sage, race, color, gender, religion, national origin,sexual orientation, disability or veteran status. We
are committed to creating a diverse and inclusive
environment at work and are proud to be an equalopportunity employer. All qualified applicants
will receive the same level of consideration for
employment; everyone we hire will receive the sameability for training, compensation, and promotion.

Total number of employees

Age

EuropeSustainability Report 2022

12%
Age group-30

For further details on Pexip’s employees, see the Annual Report 2022.

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About Pexip Sustainability in Pexip Our People GovernanceIn practice: Collaboration withTeam Aker Dæhlie

To follow dreams and to chase goals should bepossible for everyone regardless of age, gender,
disability or nationality. We believe that anythingis possible if we give people equal opportunity tosucceed.
In the end of 2022, Pexip entered a collaboration
with Team Aker Dæhlie to support BEYOND. Team
Aker Dæhlie is the first cross country team toinclude athletes from long-distance running, FIS/
allround, talents and para-crossing. The venture
is called BEYOND and is also about performing
beyond going fast on the cross-country track.
BEYOND is a way of thinking and achieving.
Through its values and actions, the team will leadthe way and inspire others. Fear of failure will notprevent the team from challenging the status quo.
Pexip is proud to have joined this collaboration, andthe joint ambition and action for equality, equality,
equal pay and equal opportunities. At Pexip we willlearn from BEYOND, share, challenge ourselvesand do things we have never done before, learn,
grow, outperform and we will do it all together as#oneteam.

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Health, Safety and Wellbeing
Pexip works systematically to take care of
employees’ health, safety and wellbeing.

Employee support
We strive to do all we can to provide a positiveenvironment for our people. Leaders are encouraged
to discuss emotional wellbeing with their teams
through the PexTalk program, a facilitateddiscussion around employee wellbeing, growth anddevelopment.

Wellness initiative
Pexip has established a wellness initiative througha shared online chat to build community andstrengthen wellbeing. The initiative is employeeled and engagement is high, with frequent sharing
and suggestions for workouts, healthy eating andhobbies. We also arrange joint workout sessions,running groups with management and walks withrepresentatives from HR to encourage employees toprioritize being active during their workdays as well.

Health and safety performance
No work-related illnesses or accidents werereported in 2022.

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GovernanceDigital Space
Digital Inclusion and Positive Industry
Impacts
From a product perspective, digital inclusion canbe ensured by designing features that promotemeeting equality, a consistent user experience andhelp to maintain a safe office environment, levelling
the playing field for all meeting participants.
Pexip makes sure every participant is seen,
heard, and included in meetings with its AIpowered, Adaptive Composition experience. Pexip
automatically detects faces, frames them bycropping/zooming/tilting/panning, and arranges
the layout to give large groups and active speakers
more screen real estate. Adaptive Composition
results in better eye contact and more natural faceto-face conversation. Pexip solves this with its coretechnology at the platform level, providing a deviceagnostic solution that works with any technology.

Advantages of Pexip’s device-agnostic
solution:•

AI can be applied to any video
image regardless of which endpoint
originated the image, including
legacy hardware endpoints andvideo sent from soft clients andmobile devices. This removes
the need for new hardware andenables reuse of existing video
infrastructure, which is moresustainable.

•

Graphics Processing Units (GPUs)in the cloud, as opposed to having a
GPU built into every endpoint, canreduce the cost of the endpoints.

17

About Pexip Sustainability in Pexip Our People Governance

The use of AI and machine learning carries with it
risks of discrimination, including the risk that darker
skin tones may not be recognized. Pexip is awareof and has tested for that risk, including training
our models on diverse data sets in order to reduce
possible bias. Adaptive Composition has been tested
and actively used by customers since March 2020,
without any negative feedback in this regard.
Pexip also furthers digital inclusion by creating moreaccessible meetings. It complies with accessibility
standards AAA WCAG 2.0, Section 508, Americans
with Disabilities Act, and Accessible Rich Internet
Applications (ARIA), and includes features likehigh-contrast mode, screen reader support, andcustomizable UI elements such as colors and text.
Performing searches in the UI is another area
where design plays an important role. Accessible
design can help empower users find what they arelooking for as quickly as possible while also giving
those with impairments or disabilities an easier
way to navigate the system. Pexip ensures thecolor scheme used for displaying search results is

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colorblind-friendly and easily accessible. Customers
can also integrate Pexip with other solutions
including closed captioning and transcriptions toimprove accessibility. Each of these capabilities
improves usability for people with disabilities so they
have an equal seat at the table.
Pexip provides access to multiple meeting solutions
while minimizing contact with surfaces to createa safer workplace through One-Touch Join andMeetingConnect. Individuals and organizations
have their own preferences for meeting solutions,creating a mixed collaboration landscape thatcan make it difficult or impossible to join others’
meetings. In addition, organizations need solutions
that minimize contact with surfaces to promote asafer workplace. Pexip solves these challenges with
One-Touch Join and MeetingConnect. One-Touch
Join enables users to dial into any video meetingby pushing one button. MeetingConnect on asmartphone allows a user to walk into a room, scana QR code, and join any scheduled or unscheduled/ad-hoc meeting.

About Pexip Sustainability in Pexip Our People Governance

Data Security and Privacy
Security and customization are paramount whenvideo communication is becoming mission criticalfor customers. For many organizations, especiallythose in the government, healthcare, and financial
sectors, video meetings are a space where sensitiveor even classified information is shared, and wherereliability and continuity are absolute requirements.
Government organizations and large enterprises
are looking to build resilient operations that canwithstand cyber threats and that can handle
situations when failure of infrastructure isn’t an
option. With increasing number of cyber-attacks
over the last few years, confidential businessinformation, critical services, and infrastructure are
all at risk.
In addition, with increased geopolitical complexity
and tension, governments are looking forcommunication tools that promote and facilitate
privacy, trust, and data sovereignty.
Pexip is committed to upholding high standards ofinformation security, privacy and transparency for
its customers, partners and employees. Modern
security threats are constantly evolving and eachthreat can have a significant impact on a company’sbusiness operations. Pexip continues to identify,
analyze, and address information risks to keep pacewith these changes and mitigates potential risks on
an ongoing basis.
In 2022, there were no breaches of customer
privacy.

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Providing security-first videocommunication for partners and customers
Pexip offers security-first, enterprise-grade videoconferencing solutions using industry-standard
encryption and security protocols to maintainprivacy and security.
Pexip’s solutions can be configured to meet theinternal security requirements of each customer
and the Pexip platform helps organizations ensurebusiness continuity, maintain full transparency andcontrol of meeting data and rely on superior audio
and video. Organizations have full data sovereignity,and meeting details and patterns are never exposedto third parties, making it easy to comply with any
regional data storage and transit requirements. In
addition, the solution can be hosted on-premiseand be configured to operate without an internet
connection. Hosting on-premise ensures thatorganizations are able to communicate if a primarysolution fails or if communication is lost due to
network outages, natural disasters, or digital
attacks.

Pexip holds multiple data security andprivacy certifications
Pexip is independently ISO 27001 and ISO 27701
certified, the international standard for Information
Security Management. Pexip obtained the ISO
27001 certification three years ago, awarded tocompanies who meet rigorous standards aroundinformation security and data protection. The
newer ISO 27701 certification requires companies
to implement, maintain, and continually improve a
Privacy Information Management System.

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Meeting the requirements of the standard
demonstrates how Pexip maintains the highest
levels of information security and takes ongoingsteps to protect the data of its customers, partners,
and employees. All Pexip employees must comply
with the ISMS security standards and take thesecurity assessment as part of their onboarding, as
well as renewing their certification annually.
Pexip’s Information Security Management Policy
outlines the Company’s robust approach andits expectations for information security, which
ensures compliance with the above standards. The
Policy outlines a set of technological, physical, andorganizational measures to protect data.

Apendix

Sustainability Report 2022 20“The renewal and extension of thiscertification is the result of our meticulous
focus on privacy and security. We areproud to be one of the best-in-class whenit comes to meeting high data protection
standards, as this accountability isessential for our customers. Protecting
their confidential and sensitive
information is our top priority.”

Geir Aasen,
Chief Information Security Officer, Pexip

Pexip’s ISO privacy certifications:•

ISO/IEC 27001:2013 - Information Security
Management System (ISMS)•

ISO/IEC 27017:2015 - Additional security
controls for Cloud Service Providers•

ISO/IEC 27018:2019 - Additional privacy
controls for Cloud Service Providers•

ISO/IEC 27701:2019 - Privacy Information
Management System (PIMS)

Pexip also meets or enables a comprehensive range of additional information security standards
and privacy regulations, including:•

DISA Defense Information Systems Agency for DOD Information Network (DoDIN) Approved
Products List (APL)•

FIPS Federal Information Processing Standard Publication 140-2•

Enabling HIPAA Health Insurance Portability and Accountability Act compliance•

SOC2/SSAE16 compliant data centers•

CSA STAR Level One•

French CSPN Certification de Sécurité de Premier Niveau, by ANSSI•

Spanish CCN-STIC 105 CPSTIC approved product, by CCN Centro Criptológico Nacional•

GDPR (EU) Regulation 2016/679•

UK GDPR and United Kingdom’s Data Protection Act 2018•

Swiss FADP Federal Act on Data Protection•

CCPA California Consumer Privacy Act of 2018

About Pexip Sustainability in Pexip Our People Governance

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Sustainability Report 2022

21

Business Continuity and Crisis
Management•

Biological risks, including disease outbreak andpandemics;

Pexip has implemented a business continuity
management system that inherently interconnectswith the Company’s crisis management process.

•Intentional human-caused events such as
violent acts, unrest and political tension leading
to war; and•Technological events such as disruptions andcyber attacks.

Pexip’s crisis management process focuses on
addressing threats on people and public safety that
could escalate or intensify risks of financial losses
and reputational damage. Potential crises identified
include:•Natural disasters such as hurricanes,
earthquakes, tsunamis and volcanic eruptions;•

Events caused by humans, such as fires, highlevel carbon footprint and hazardous material
disposal all of which could have significant
environmental impact overtime;•

Other serious climatic events such as floods,
snowstorms and droughts;

In times of crisis, Pexip’s executive leadership team,or crisis management committee, is engaged todetermine and make appropriate decisions on theapproach to mitigate the situation based on thedevised strategy. This ensures overall coordination
during a crisis, in a timely manner, with the goalof avoiding or minimizing damage to Pexip’s
profitability, reputation, and ability to operate.
For more detailed information on our approachand commitment to data security and privacy, see:https://www.pexip.com/security.

About Pexip Sustainability in Pexip Our People Governance

Ethical business conduct
Ethical Business
Pexip’s corporate governance policy sets out clear
ethical guidelines. These include expectations
for personal conduct and the role of executive
management to promote openness, loyalty andrespect. The guidelines cover conflict of interests,
confidential information, influence, competition
and the consequence of breaches. The corporate
governance policy and ethical guidelines are publicly
available on Pexip’s website.
A whistleblower mechanism exists to reportinstances where these standards have not been
met. The process is operated by a third-party
international audit firm in order to ensure anonymity
and the integrity of the whistleblower process.
All complaints are received by the Whistleblower
committee consisting of the Chief People Officer
and the Chief Financial Officer. There were nocomplaints submitted via the whistleblower channel
in 2022.

Supply Chain Management
Pexip expects that all suppliers which we have a
direct contractual relationship with to comply with
our supplier code of conduct terms and conditions,
including any environmental, social and governancerequirements. Pexip’s Supplier Code of Conduct
and approach to working with suppliers reflect our
expectation that our suppliers and business partners
will match our own commitment to sustainability,
including environmental protection, internationallyrecognized human rights, and ethical businesspractice.
In developing our Supplier Code of Conduct, wehave been guided by internationally recognized
standards, including the UN Global Compact, theUN Guiding Principles on Business and Human
Rights, the ILO Fundamental Conventions, and theSustainable Development Goals. When selecting
suppliers, we consider their ESG performance,
particularly in relation to our own material ESG
issues. To achieve our goal of a sustainablesupply chain, we will favor suppliers that operateconsistently with our ESG policies. Ethical businessand employment practices, diversity, and theenvironmental impacts of their operations, including

Environmental

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Sustainability Report 2022

22

the use of renewable energy and GHG emissions,
are key considerations. In 2022 we engaged informal or contractual business activities withapproximately 1000 suppliers. There were no
confirmed breaches of our supplier code of conduct
ESG requirements.

The Norwegian Transparency Act
In compliance with the Norwegian Transparency
Act, Pexip have conducted a human rights due
diligence assessment for its suppliers.
The process is based upon the OECD Guidelines forMultinational Enterprises, and comprise of six mainstages:1.

embed responsible business conduct into
Pexip’s policies and management2.

identify and assess actual and potential adverse
impacts on fundamental human rights anddecent working conditions that the enterprise
has either caused or contributed toward, orthat are directly linked with the enterprise’s
operations, products or services via the supply
chain or business partners

3.

implement suitable measures to cease, preventor mitigate adverse impacts based on theenterprise’s prioritizations and assessments
pursuant to (2)4.

track the implementation and results ofmeasures pursuant to (3)5.

communicate with affected stakeholders andrights-holders regarding how adverse impacts
are addressed pursuant to (3) and (4)6.

provide for or co-operate in remediation andcompensation where this is required.

Pexip has defined a clear, formalized process
to ensure that we as a company, along with our
suppliers, are compliant with the Transparency
Act. During the second half of 2022, the executive
management and the board was informed on the
topic and the proposed business conduct. Both theBoard and management is strongly supportive of theinitiatives put in place, and our aim of supporting
human rights throughout our value chain.
A roadmap has been set up for the formal processof assessing the suppliers and risk level, with aAbout Pexip Sustainability in Pexip Our People Governancedefined risk assessment and outcomes. Suppliers
go through an initial, high-level risk assessment
defined based upon the supplier’s country, industry,
product, and other company specific information.
These are defined based on an external set of risk
categories, indicating the need for further risk
assessment. If risks are uncovered, measures will betaken in line with our internal policy and formalized
system. We have several important policies in place,such as the Human Rights Policy and our Supplier
Code of Conduct covering our commitment in theseareas. We aim to have all our suppliers agree andcommit to these as well.
We performed a comprehensive due diligenceof our suppliers as of 30.06.2022, and as of
31.12.2022. The due diligence was performed on
all suppliers above a set threshold of NOK 1 million
in annualized cost, covering 94 suppliers during2022. The threshold was set based on a materiality
assessment, and a decision to include the main
suppliers in the initial due diligence. Of the suppliers
reviewed, 1 came out with a medium risk related
to country of the supplier. However, as the suppliercomprised one freelancer working for Pexip in R&D,
it was concluded as limited risk and no further
investigation was deemed necessary.
We have adjusted our internal processes for
onboarding of suppliers, to capture high risk
suppliers before they are onboarded. This will resultin a review of all suppliers, and not only limited bysize as the initial due diligence was.
Pexip will continue to prepare semi-annual
reviews of our suppliers, in addition to thecontinuous assessment of new suppliers throughthe onboarding process. A statement on this andrelated outcomes will be included as a part ofthe sustainability report each year, providing an
overview of how adverse impacts are addressed.

Intellectual property
New knowledge is often at the core of sustainable
technologies and related business models. The useof IP is imperative for unlocking innovation andaccelerating diffusion processes, with the potential
for facilitating sustainability transitions on a global
scale.

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23

The value of IP has a high importance for technology
companies, particularly those operating in acompetitive commercial environment. In many cases
the strength of the IP can be an important featurethat distinguishes a company from its competitors.
Good internal IP management ensures that thevalue of the Company’s IP is secured for commercial
use.
Active IP management also supports the reputationof the Company as a technology innovator,
which helps attract customers, and partners andmay assist in attracting and retaining the best
employees; a rich and developing IP portfolio
indicates an innovative company culture.
We have established an IP management functionthat captures, maintains and protects all possible
IP. Pexip also respects third-party IP and is willing toshare IP when appropriate.
Pexip was not involved in any patent litigations in
2022.
We follow our code of conduct and ethics policies in
all IP matters.

About Pexip Sustainability in Pexip Our People Governance

Environmental

Apendix

Sustainability Report 2022

24

Environmental

GHG Emissions and Energy

The energy crisis in Europe, sparked by Russia’s
war in Ukraine is affecting economies, businesses
and consumers. Higher costs create an increased
burden for customers and companies and underpins
why this is an important topic. The computing
energy used by the information and communications
technology sector is significant. Estimates of theassociated GHG emissions from the sector range
from 2-3% of global emissions. Data storage andtransfer services (servers) in particular are major
contributors to this growth.

most efficient implementation of any Intel-basedtranscoding technology. Pexip utilizes smart scaling
and data routing for efficient data processing andallows for bursting with virtual servers. Pexip iselastic and can create and remove additional virtual
servers in response to demand in your cloud of
choice. The distributed deployment model is also
bandwidth efficient. These aspects provide three
to four times more effective usage of network,
CPU and power over alternative solutions. Thisequates to cost savings for organizations as well asa reduction in the resources needed to power yourvideo solutions.

We are committed to deliver video solutions
that require less network resources and more
efficient Central Processing Unit (CPU) usage
and, as a result, use less energy than comparable
solutions. Pexip’s patented video platform has the

The Pexip Service runs in a shared cloud, eliminating
the need for company-specific servers. The computeis leveraged on-demand on a global basis so fewer
resources are wasted idly waiting for use.

About Pexip Sustainability in Pexip Our People GovernancePexip uses low-carbon and carbon-neutral cloudproviders
The flexibility of the Pexip platform allows ourcustomers to choose the cloud provider that best
fits their environmental strategy. Hosted solutions
provided by Pexip use low-carbon and carbonneutral cloud providers such as:•

Microsoft Azure, that has committed to berunning on 100% renewable energy by 20251 ;•Google Cloud Platform, that has been carbon
neutral since its founding in 1998 and aims tooperate on clean energy, every hour and in every
region by 20302;•

Amazon Web Services (AWS), which iscommitted to running its business in the mostenvironmentally friendly way possible andachieving 100% renewable energy usage for its
global infrastructure3;

Sustainable innovation
Pexip’s video conferencing solutions provide
flexibility and can help reduce travel andPexip’s own emissions are low
The direct climate footprint of Pexip
is very limited. In 2022, 97% of theemissions came from indirect emissions
related to our activities (scope 3), mainly
related to travel, IT and hosting service
providers. These were calculated on amarket basis as 14,843 tonnes carbon
dioxide equivalents (CO2e). We had no
direct emissions (scope 1) and our indirectemissions (scope 2) were primarily related
to building energy use in our offices. The
indirect energy emissions (scope 2) were
calculated on a location basis, as 431
tonnes CO2e.

Environmental

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Sustainability Report 2022 25

commuting. Remote workers and customers canconnect to a video meeting using their computeror mobile phone. Avoided emissions from the useof video conferencing are difficult to quantify but
represent a significant opportunity.
We believe in sustainable innovation that provides
an alternative to the “rip and replace” cycle that
leads to resources ending up in landfills. By
providing customers with the means to upgrade andreuse existing technology, Pexip helps reduce thenegative impact on the environment. Pexip enables
video conferencing systems, laptops, mobiles andwebcams to be as “smart” as the latest cuttingedge AI meeting products. The savings accrued
allows Pexip customers to scale the benefits of AI
across their entire hybrid workforce, eliminating
expensive training and technical support associatedwith the adoption of new systems.
1
https://azure.microsoft.com/en-us/explore/globalinfrastructure/sustainability/#carbon-benefits
2
https://cloud.google.com/sustainability
3
https://sustainability.aboutamazon.com/environment/thecloud?energyType=true

Scope 10

15 274Emissions(tonnes CO2e)

Scope 2
431

Scope 314 843

About Pexip Sustainability in Pexip Our People GovernanceAppendix

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Sustainability Report 2022 26

About Pexip Sustainability in Pexip Our People Governance

Environmental

Apendix

Sustainability Report 2022

GRI Index
GRI Disclosure

Reference

2-1

Organizational details

Legal name: Pexip Holding ASA
Ownership: Listed company Oslo Børs
HQ: Oslo, Norway
Countries: Our business

2-2

Entities included in the organization’ssustainability reporting

Our business
Environmental data covers all of Pexip.

2-3

Reporting period, frequency and contact point

Data in this report is reported for 1 January 2022 to 31 December 2022. It is
published annually. This report was published on 29 March 2023. For more
information please contact: IR@pexip.com

2-6

Activities, value chain and other business relationships

Our business, Our business areas

2-7

Employees

PeopleAnnual Report 2022,

2-9

Governance structure and composition

https://investor.pexip.com/about/management-teamhttps://investor.pexip.com/corporate-governance-board

2-15

Conflicts of interest

Ethical Business

2-16

Communication of critical concerns

Ethical Business

2-19

Remuneration policies

2022 Remuneration Reporthttps://investor.pexip.com/corporate-governance-policy-documents

2-22Statement on sustainable development strategy

Statement from the CEO

2-23

Policy commitments

https://investor.pexip.com/corporate-governance-policy-documents

2-26

Mechanisms for seeking advice and raising concerns

Ethical Business

2-27

Compliance with laws and regulations

Data Security and Privacy
Material Topics
Transparency Law

2-29

Approach to stakeholder engagement

Material Topics

2-30

Collective bargaining agreements

None active27

About Pexip Sustainability in Pexip Our People Governance

Environmental

Apendix

Material Topics:
GRI Disclosure

Reference

3-1

Process to determine material topics

Material Topics

3-2

List of material topics

Material Topics

3-3Management of material topics

Material Topics

Topic specific disclosures
GRI Disclosure

Reference

Health and safety

403-9

Work-related injuries

Health, Safety and Wellbeing

Emissions305-1

Scope 1 GHG emissions

GHG Emissions and Energy

305-2

Scope 2 GHG emissions

GHG Emissions and Energy

305-3

Scope 3 GHG emissions

GHG Emissions and Energy

Diversity and equal opportunity

405-1

Diversity of governance bodies and employees

Diversity

Data privacy and security

418-1

Customer data breach and data loss

Data Security and Privacy

Sustainability Report 2022 28

About Pexip Sustainability in Pexip Our People Governance

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Sustainability Report 2022 29

SASB Disclosures
Sasb software and it services standard (2018)
Sustainability disclosure topics & accounting metrics
Table 1. Sustainability disclosure topics & accounting metrics
Topic

Accounting MetricMeasureUnit of Measure

Code

Environmental
Footprint of Hardware
Infrastructure(1) Total energy consumed,(2) percentage gridelectricity,(3) percentage renewable

1) 6,4502) 100% of energy3) 45%

Gigajoules (GJ),
Percentage (%)

TC-SI-130a.1(1) Total water withdrawn,(2) total water consumed,
percentage of each inregions with High orExtremely High Baseline
Water Stress0

Thousand cubic
meters (m3)Percentage (%)

TC-SI-130a.2

Discussion of
the integrationof environmental
considerations into
strategic planning for data
center needs

See report section
Supply chain
managementn/a

TC-SI-130a.3

Description of policies
and practices relating tobehavioral advertising anduser privacy

See report section
Data Security andPrivacyn/a

TC-SI-220a.1

Number of users whose
information is used forsecondary purposes0

Number

TC-SI-220a.2

Total amount of monetarylosses as a result of legal
proceedings associatedwith user privacy

0

Reportingcurrency

TC-SI-220a.3(1) Number of law
enforcement requests
for user information,(2) number of users
whose information was
requested, (3) percentage
resulting in disclosure1) 0 2) 0 3) 0

Number,
Percentage (%)

TC-SI-220a.4

List of countries where
core products orservices are subject togovernment-required
monitoring, blocking,content filtering, or
censoring

None

n/a

TC-SI-220a.5

1) Number of data
security incidents,(2) percentage involving
personally identifiable
information (PII),(3) number of users
affected

1) 0 2) 0 3) 0

Number,
Percentage (%)

TC-SI-230a.1

Description of approach
to identifying andaddressing data security
risks, including use ofthird-party cybersecurity
standards

See report section
Data Security andPrivacyn/a

TC-SI-230a.2

Data Privacy &Freedom of Expression

Data Security

About Pexip Sustainability in Pexip Our People Governance

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Sustainability Report 2022 30

Topic

Accounting MetricMeasureUnit of Measure

Code

Recruiting & Managing a
Global, Diverse & Skilled
Workforce

Percentage of employeesthat are (1) foreign
nationals and (2) locatedoffshore

1) NA 2) 0

Percentage (%)

TC-SI-330a.1

Employee engagement asa percentage

NA

Percentage (%)

TC-SI-330a.2

Percentage of genderand racial/ethnic grouprepresentation for(1) management,(2) technical staff, and(3) all other employees

1) 29% female
2) 7%
3) 20%

Percentage (%)

TC-SI-330a.3

Intellectual Property
Protection & Competitive
Behavior

Total amount of monetarylosses as a result of legal
proceedings associatedwith anticompetitive
behavior regulations

0

Reportingcurrency

TC-SI-520a.1

Managing Systemic Risks
from Technology

Number of(1) performance issues and(2) service disruptions;(3) total customer
downtime

1) 0
2) 24
3) 8.0h

Number, Days

TC-SI-550a.1

Disruptions

Description of business
continuity risks related todisruptions of operations

See Annual Report section
Risk Managementn/a

TC-SI-550a.2

Table 2. Activity Metrics
Accounting MetricMeasureUnit of Measure

Code(1) Number of licenses orsubscriptions,(2) percentage cloud-based

N/A

Number,
Percentage (%)

TC-SI-000.A(1) Data processing capacity,(2) percentage outsourced

N/A

See note

TC-SI-000.B(1) Amount of data storage,(2) percentage outsourced

N/A

Petabytes,
Percentage (%)

TC-SI-000.C

About Pexip Sustainability in Pexip Our People Governance

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Sustainability Report 2022

Stakeholder Engagement
We undertook a materiality assessment in 2020 and have continued to engage with our stakeholders in 2022
to ensure that the topics chosen in 2020 are still the ones that are the most relevant for the business.

Stakeholders engaged
Stakeholders are engaged both formally and informally, in ongoing dialogue. Specific stakeholder interviews
were undertaken with the following stakeholders for the purposes of this report:
•
•
•
•
•
•
•
•

Investors
Customers
Executives
Board members
Finance providers
Industry analysts
Channel partners
Employees

Topics identified by stakeholders
The following topics were identified by stakeholders and assessed as part of the materiality assessment:

Environmental topics
Energy management
Manage the planning and operation of energy consumption within own operations.

Climate change – adaptation
Ensure proper management of climate risk related to i.e. physical changes (extreme weather events andecosystem changes) and changes in climate related regulation, market preferences and technology.

Climate change – mitigation
Manage and reduce greenhouse gas emissions (CO2 emissions) within own operations.

Supply chain: GHG emissions and energy management
Account for suppliers’ management of energy consumption and GHG emissions in sourcing andprocurement processes.

Supply chain: waste and water management
Account for suppliers’ management of waste and water consumption in sourcing and procurement
processes. Ensure that suppliers have effective procedures for collection, transport and disposal of waste,
including correct handling of hazardous materials. Ensure that suppliers have effective procedures tomanage water consumption, treatment and disposal of water discharges.

31About Pexip Sustainability in Pexip Our People Governance

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IT solutions for the environment
Enable customers to reduce emissions and improve their environmental footprint by using
Pexip’s services.

Social topics
Diversity and equal opportunity
Ensure equal pay, equal treatment and no discrimination based on age, gender, culture, religion, sexual
orientation, ethnicity, disability, political opinions, social background or language.

Employee health, safety and wellbeing
Work systematically for employees’ health, safety and wellbeing.

Employee development
Enhance skills and acquire new knowledge within the organization through on the job training,coaching and mentoring and training courses/education.

Supply chain: labour rights
Account for suppliers’ management and handling of labour rights in sourcing andprocurement processes.

IT solutions for the environment
Enable customers to reduce emissions and improve their environmental footprint by using
Pexip’s services.

Social topics: opportunities/positive impacts
Charity & sponsorships
Engage in charitable activities and contributions, i.e. sponsorships and donations.

Digital inclusion
Ensure that all individuals and communities, including the most disadvantaged, have access to and useof information and communication technologies.

32

About Pexip Sustainability in Pexip Our People Governance

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Sustainability Report 2022 33

Governance topics
Ethical business practices
Conduct all business transactions in a proper, fair, impartial, and ethical manner (e.g. Anti-Corruption
and Anti-Money Laundering policy, Code of Conduct, Whistle-blower mechanism).

Corporate governance
Ensure transparency about decision-making processes and control mechanisms (e.g. compliance, risk
management procedures and recruitment processes for the management team).

Data security and privacy
Ensure effective procedures for data protection, including risk management processes for accidental
or intentional but unauthorized modification, destruction, or disclosure of data. Ensure proper handlingand storage of data – including consent, notice, and regulatory obligations.

Intellectual property rights
Respect intellectual property rights through protecting the company’s own rights and ensure that thecompany is not infringing on others’ IP rights.

Governance topics: opportunities/positive impacts
Industry initiatives
Engage in ESG industry initiatives to enhance knowledge sharing and innovation within sustainability(e.g. GeSI-Enabling Digital Sustainability).

Lilleakerveien 2A, 0283 Oslo, Norway
www.pexip.com