Coherent Issues Environmental, Social, and Governance (ESG) Report 2022
Coherent Corp., a leader in materials, networking, and laser technology, announced the publication of its Environmental, Social, and Governance (ESG) Report 2022. The report explains how Coherent plans to improve sustainability and how far it has come in its efforts to be a good corporate citizen around the world.
Dr. Vincent D. Mattera, Jr., Chair and CEO of Coherent, said:
"Because of our size and scale and how important we are to trends that can't be changed in so many ecosystems, we know that we have a big part to play in building a more sustainable society.
"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 big goals, we are still committed to making diversity, fairness, inclusion, and equity 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 recognised the importance of creating an inclusive environment in which all employees feel valued, respected, included, and empowered to do their best work. The company started a formal diversity, equity, and inclusion programme in 2021 to make sure that workplace policies, practises, and processes support an equal work environment and use the different perspectives of Coherent employees around the world to improve 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 added cobalt to its responsible minerals programme, and 85% of its 3TG suppliers have completed the company's due-diligence survey and submitted Conflict Minerals Reporting Templates in line with the Responsible Minerals Initiative.
Compliance, good business judgement, curiosity, common sense, and following high ethical standards are all important to Coherent. 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.