Maintain the highest level of trust and ethics in all we do
Governance > Ethical Leadership
With growing awareness, attention and action from investors, customers, and other stakeholders, our Board and Committees provide our leadership with much more than oversight and guidance.
They help galvanize us and drive real accountability to continually ‘do what is right’ when it comes to driving ESG. ESG issues have an expanding impact on our business strategy, risk management and performance so we’re committed to being ‘all in’ across Clarivate – in all regions, in every role and in every way we do business.
Our Board is composed of a majority of directors who qualify as independent directors as required under NYSE rules. Similarly, our Committees satisfy the enhanced independence criteria set out by NYSE.
The Board meets at least four times a year, and special meetings may be called from time to time as determined by the needs of our business. Our directors take their roles seriously as well as their responsibility to prepare for, attend and participate in meetings. Sustainability is now a topic of every Board meeting with dedicated oversight from the Nominating, Governance and Sustainability Committee which reports into the Board at each meeting.
• Audit Committee • Human Resources and Compensation Committee • Nominating, Governance and Sustainability Committee • Risk Committee
Below are our Board’s composition and related metrics disclosed in our latest Proxy Statement for Annual General Meeting of Shareholders:
Board members
Board members*
at Board meetings
median Board tenure
median Board age
*As disclosed in our 2021 annual meeting Proxy, if elected by our shareholders, our Board will increase from two to four women directors.
Increase focus and investment in ESG by explicitly empowering the Nominating, Governance & Sustainability Committee of our Board of Directors with oversight of ESG matters and initiatives
Increase transparency and disclosure of progress toward ESG and DEI goals at all levels of the business
"At Clarivate, we consider ESG to be a business imperative and integrated into our core strategy. The Board believes that it provides a window into our future, so we stay focused on related risks and opportunities, empower problem-solvers to tackle some of the world’s most complex challenges and generate measurable value in the process."
Jerre Stead, Clarivate Executive Chairman and CEO
Governance > Bringing our Code of Conduct to life
We believe that our Code of Conduct is the starting point for establishing our global leadership as a sustainable company. We have embedded it into the fiber of our corporate culture as our guide for behaving with trust, respect and ethics — where we bring it to life with our actions.
Throughout our global organization, it’s the cornerstone of our compliance program and provides guidance on how we represent our brand in everything we say and do. It reflects our mission, vision and core values, especially when it comes to fostering trust, respect, integrity and sustainability.
Sure, our Code of Conduct covers a broad spectrum of guidelines including proper use of assets, confidentiality, health and safety, gift giving, conflicts of interest, anti-fraud and more. But we’re bringing it to life by supplementing it with targeted training, best practices and continual leadership guidance. Our goal each year is to have all colleagues worldwide complete our online Code of Conduct training course and acknowledge our Code of Conduct. In 2020, we achieved this milestone within five weeks of our Code of Conduct campaign launch date! All new colleagues must complete and acknowledge this training shortly after joining with progress monitored by our Compliance team.
“Every day we see evidence of colleagues living the values embodied in our Code which our Compliance team supports with continual guidance and training. The level of interest and engagement from our colleagues is truly inspiring and reflects the strong sense of ethics that defines our organization.”
Michelle Lin, Chief Compliance Officer
Governance > Passion for delighting
This is the only way we can put ourselves in their shoes — to take the right actions, prioritize quality, anticipate unmet needs and continue to be an essential partner in driving their success. We call this “Customer Delight” — and it’s our obsession. It’s also our business strategy and every colleague is rewarded for improving customer satisfaction. In 2020, all eligible colleagues received 72 restricted shares for achieving our Customer Delight score target. In 2020, more than 18,000 customers shared their feedback in our global Customer Delight survey.
We asked our customers five critical questions specific to: • Information and insights • Quality of products and services • Ease of doing business • Value of products and services • Positive interactions
Despite a multitude of challenges impacting customer satisfaction scores across many industries last year, Clarivate improved customer satisfaction three points overall. We don’t take this improvement for granted because we know it takes focus, hard work, agility and innovation to keep our customers engaged and delighted.
As a result, we reported consistent improvements across all products and geographic regions. We still have more work to do and will continue to focus on the following areas to improve Customer Delight year over year: • Make our products simpler and more user friendly • Improve the timeliness of information sharing • Increase our responsiveness across key customer touchpoints
customers responded to our Customer Delight survey in 2020
was our Customer Delight score in 2020
of products and regions showed improvement
improvement in Customer Delight from 2019 to 2020
restricted stock units (RSUs) awarded to all eligible colleagues for hitting the 2020 stretch goal
of colleagues completed our Customer Delight Certification
All Clarivate colleagues will have a Customer Delight performance goal
76 to 77 increase measured in bi-annual Customer Delight survey*
"Customer Delight is the foundation of how we listen and act on our customer’s feedback to drive innovations across all of our products and services and to continuously deliver above and beyond expectations.”
Kerri Nelson, Chief Strategy Officer
*There is a new baseline for Customer Delight in 2021 with the addition of all 2020 acquisitions.
Governance > Our commitment to safeguarding personal data
At Clarivate, data is our business. We take it seriously and believe in trust and transparency – especially when it comes to protecting personal data. Our ongoing commitment to promoting responsible data use will help drive a more sustainable society. We’ve created a robust and effective data protection program with policies and procedures that reflect internationally accepted principles of transparency, accountability and individual rights.
To be effective, data protection policies must be managed as an evolving program that is continually reviewed, advanced and tested to make sure our actions reflect our promises. In addition to investing in data protection technology, we’ve built a team of full-time, dedicated privacy professionals led by our Chief Privacy Officer. They are diligent guardians of our privacy policies, helping us adhere to our guiding principles and stay ahead of evolving privacy and data protection laws.
Transparency and choice
Help individuals understand how their personal data is used, what their rights are and how they’re empowered to control their data
Accountability
Remain accountable for our practices by reporting how we’re doing on meeting our data privacy obligations and responsibilities
Security
Promote the confidentiality, integrity and availability of the personal data we process through our ongoing commitment to security and privacy
Launched the Clarivate Privacy Center to surface all our public facing privacy notices, principles and practices in one place for more clarity and transparency
Signed up to be a Data Privacy Day Champion with the National Cyber Security Alliance
Launched a new, mandatory privacy training program for all colleagues, reporting out quarterly
Implemented data privacy management technology across Clarivate, enabling greater efficiency and ensuring stringent compliance with privacy laws such as GDPR
Increase third-party privacy oversight
Improve record-keeping maturation and automation
Enhance privacy incident response readiness and testing
Continue to monitor changes to cross-border transfers requirements and implement remedial measures as needed
Governance > Fortifying and future proofing our cyber security commitment
When it comes to cyber security, many organizations discover their vulnerabilities too late – after something has gone wrong and they’re scrambling to repair the damage. At Clarivate, we take cyber security very seriously and it remains a top priority across our organization. We believe in staying proactive, informed and committed to continually reviewing, testing and strengthening our Information Security Risk Management program.
We use a risk-based approach to address compliance requirements by establishing continual, lock-step alignment with business priorities and customer needs. We make sure our standards, policies and security controls are defined, managed and tracked across all our products and services. To accomplish this, we have assembled a talented team of certified security subject matter experts located around the world who are highly focused on reinforcing our cyber security standards at all levels.
of colleagues completed cyber security training
of developers completed developer cyber security training
ISO 27001 certification audit
Attain ISO 27001 Certification
“As we shift towards a digital workplace and implement our risk-based approach, we are working hard to remain nimble and vigilant. We’ve assembled an expert team to proactively monitor, identify and secure all areas of potential vulnerability to keep our information and systems safe.”
Christian Wagner, Chief Information Security Officer
Governance > Human rights – a shared imperative for sustainable development
We strive to treat everyone with dignity and respect, and we’re committed to doing what’s right to lift up people and communities wherever we can. We take a stand against modern slavery and human trafficking across our business and hold our partners and our supply chain accountable to do the same.
Our goal is to provide a work environment that is safe, diverse and inspiring, while striving for equality for all colleagues, wherever they live.
Clarivate is committed to incorporating human rights into all we do.
By adhering to the 10 principles of the UN Global Compact and the United Kingdom Modern Slavery Act, we promise to conduct business in a manner that respects the rights and dignity of all people. We strongly support the principles contained in the United Nations Universal Declaration of Human Rights.
We require our suppliers to treat their employees fairly and in accordance with applicable laws and regulations regarding labor, employment and the following principles: • Freely chosen employment • Respect for freedom of association and the right to collective bargaining • Safe, healthy and hygienic working conditions • No child labor • Fair and equitable wages and benefits • No excessive working hours • No discrimination is practiced • No harsh or inhumane treatment is allowed • Promotion of supplier diversity
Promoting greater accessibility for all
We’ve placed the diverse needs of our colleagues and customers at the center of our digital communications strategy to reduce barriers to equality and create interactions focused on humanistic values.
Advanced our unified web presence
To create a more accessible, simpler, customer-focused experience
WAVE accessibility rank for Clarivate.com
Increased from the 17th percentile to the 53rd percentile (WebAIM Million) in under two years
Become a signatory to the UN Global Compact
Achieve “AA” level compliance with the international Web Content Accessibility Guidelines (WCAG) improving website accessibility for people with motor impairment, cognitive and neurological impairment, auditory impairment, visual impairment and color blindness
“We truly believe that our colleagues are our best asset and that we must always treat each other with dignity and respect. This has become our core ethos and a vital part of our culture and DNA.”
Julia Mair, Chief Marketing & Communications Officer
Governance > Managing risks to better drive sustainability
By taking a strategic approach to risk management, we are better equipped to anticipate the direction and impact of change across our business. It also helps us connect our long-term vision and our sustainability principles so we can avoid barriers to success and actively pursue opportunities to achieve and maintain our sustainability goals.
Last year, we took several key steps to advance our risk management program, starting with establishing our governance framework, creating a Management Risk Committee to provide oversite to the Board and benchmarking our approach with other companies that have a similar risk profile. To gain valuable feedback and better understand our critical success factors, we developed an extensive, holistic approach to assessing strategic, operational, financial, legal, regulatory and compliance risks across our global business. We initiated regular risk reporting to better identify issues as they arise or better yet - before they arise.
risk questionnaires completed
internal interviews conducted
comments received
questionnaire response rate
risks assessed
higher priority risks identified
top risks identified with related response strategies
distinct risk assessments covering functional areas and business units
Enterprise Risk Management workshops conducted
Formalize our operational risk management program to align with standards such as ISO and provide risk oversight to the Board Risk Committee
Continue to monitor and prioritize emerging risks
Advance our risk-aware culture by providing awareness and training
Implement a centralized repository for ERM guidelines and documentation
“We’re embracing Enterprise Risk Management (ERM) as part of our core management philosophy and business strategy, so we can not only proactively focus on potential threats and opportunities but consider the environmental and social impacts tied to each of them.”
Liliana Hinderman, Chief Risk Officer
