NI (NASDAQ: NATI) today released Engineering Hope, its 2030 Corporate Impact Strategy, outlining the company's vision and aspirational goals for making a measurable, positive impact on society and the environment by 2030. The long-term plan to advance diversity, equity and sustainability furthers NI's promise to Engineer Ambitiouslytm, connecting people, ideas and technology to take on the world's greatest challenges.
"The world is facing pressing challenges, from climate change to inequality. Engineering will play a pivotal role in confronting these issues, which is why we must collectively lead the change we hope to see in society," said NI President and CEO Eric Starkloff. "We are focusing our efforts in areas like sustainability, diversity and equity - areas in which we can drive important, meaningful impact at NI, in the engineering field and in society at large."
Over the next decade, NI is dedicated to creating impact in three areas by working toward a set of 15 goals and commitments, including two "moonshot" diversity goals. The strategy reflects a yearlong process to assess NI's environmental impact and the priorities of employees, customers and other stakeholders. See the full strategy and goal list at ni.com/engineeringhope2030.
Achieving this goal, particularly in technical fields, will require focus not just within NI, but also on educational opportunities for underserved communities. NI will continue supporting the future generation of engineers by giving to and volunteering with STEM education initiatives. NI will invest $3.4 million globally over the next four years in STEM education initiatives that serve underrepresented or economically disadvantaged students. Its first grantees, Code2College and Project Lead The Way, will each receive $100,000 per year for the next four years to expand their hands-on learning programs.
To further progress toward these goals, NI has issued a 2+1 Giving Pledge: By 2030, the company will increase giving from 1% to 2% of annual, pre-tax profits in the form of monetary and product donations. And NI employees will have the opportunity to spend 1% of their work hours volunteering in their communities.
"This strategy builds upon NI's culture of caring and long legacy of corporate citizenship," said NI Head of Corporate Impact Tabitha Upshaw. "At the same time, it goes beyond philanthropy to integrate corporate impact into most every aspect of our business, especially the way we empower our customers, educators and innovators to use NI products for good."
The strategy is also designed to be iterative, and NI may scale its commitments and goals as its programs evolve and mature. NI will publish an annual corporate impact report that measures against its 2019 baseline data.
This release contains certain forward-looking statements of NI, including statements about our strategy; what our goals are, how we plan to attain them, and our efforts to attain them; and our commitments. These statements are subject to a number of risks and uncertainties, including risks and uncertainties related to our ability to attain or make significant progress toward attaining our goals; the COVID-19 virus and further economic and market disruptions resulting from COVID-19; further adverse changes or fluctuations in the global economy; further adverse fluctuations in our industry; changes in the current regulatory environment; our budgets; our ability to effectively manage our operating expenses; expense overruns; the availability of materials and resources; our ability to attract and retain employees; our employee restructuring plans; manufacturing inefficiencies and the level of capacity utilization; the impact of any recent or future acquisitions or divestitures by NI (including the ability to retain and integrate the acquired company's employees into NI); and adverse effects of tax treatment and effective tax rates. Actual results may differ materially from the expected results. NI directs readers to its Form 10-K for the year ended Dec. 31, 2019, its Form 10-Q for the quarter ended Sept. 30, 2020 and the other documents it files with the SEC for other risks associated with the company's future performance. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in our forward-looking statements. All information in this release is as of the date above. NI undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in NI's expectations.
At NI, we bring together the people, ideas and technology so forward thinkers and creative problem solvers can take on humanity's biggest challenges. From data and automation to research and validation, we provide the tailored, software-connected systems engineers and enterprises need to Engineer Ambitiouslytm every day.
National Instruments, NI, ni.com and Engineer Ambitiously are trademarks of National Instruments Corporation. Other product and company names listed are trademarks or trade names of their respective companies.
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