For Immediate Release
COHERENT ISSUES ENVIRONMENTAL, SOCIAL, AND
GOVERNANCE (ESG) REPORT 2022
PITTSBURGH, Oct. 19, 2022 (GLOBE NEWSWIRE) – Coherent Corp. (Nasdaq: COHR), a leader in materials, networking, and laser technology, today announced the publication of its Environmental, Social, and Governance (ESG) Report 2022. The report outlines Coherent’s approach to enhancing sustainability and the global progress it has made in its commitment to corporate social responsibility. The Coherent ESG Report 2022 is available on the Coherent website here.
“Given our size and scale, along with our importance to irreversible trends in so many ecosystems, we recognize the significant leadership role we play in building a more sustainable society,” said Dr. Vincent D. Mattera, Jr., Chair and CEO of Coherent. “Coherent embraces our talent and seeks to be a top-tier employer where people can bring their capabilities and curiosities and create a continuum of disruptions that transform industries, create a sustainable society, and accelerate our drive for increased shareholder value. As part of these bold objectives, we remain committed to making diversity, equity and fairness, and inclusion competitive advantages. Our investments that make great business sense also lend themselves to major contributions underway worldwide to protect the environment as we create long-term, sustainable value from Coherent globally. Our ESG report highlights our achievements to date and documents our efforts to align our business strategies with our long-standing mission of enabling the world to be safer, healthier, closer, and more efficient, which is among the highest callings of this age.”
Highlights from the ESG report include:
- People: Coherent has always recognized the importance of creating an inclusive environment in which all employees feel valued, respected, included, and empowered to do their best work. The company launched a formal diversity, equity, and inclusion program in 2021 to ensure that workplace policies, practices, and processes step up to support an equitable work environment and leverage the diverse perspectives of Coherent employees across the globe to enhance cross-cultural competence.
- Environment: Coherent launched a formal greenhouse gas (GHG) emissions inventory accounting process across its global operations to measure and monitor its Scope 1 and Scope 2 emissions. The company has also entered into renewable electricity contracts for more than 40 sites around the world, including over 35 sites that now cover 100% of their annual electricity usage with renewable sources.
- Sourcing: Coherent broadened its responsible minerals program to include cobalt, and 85% of its 3TG suppliers have completed the company’s due-diligence survey and submitted Conflict Minerals Reporting Templates in accordance with the Responsible Minerals Initiative.
Coherent is committed to the practices of compliance, good business judgment, curiosity, common sense, and adherence to high ethical standards. Management of Coherent is overseen by a highly qualified and diverse Board of Directors, and the company’s sustainability vision is guided at the highest levels of the Board by its Environmental, Social, and Governance Committee.