Saxonburg-based Coherent Corp., a materials, networking, and lasers company, recently released its 2023 environmental, social, and governance (ESG) report.
The report sets a goal of net-zero Scope 1 and Scope 2 greenhouse gas (GHG) emissions by fiscal year 2040.
“By establishing a net-zero target for Coherent, we reached a significant new ESG milestone,” Dr. Vincent D. Mattera, Jr., Coherent chairman and CEO, said. “It not only represents the great strides we’ve made in the past year, but it also elevates and makes transparent our level of commitment to create long-term value for all our stakeholders through ESG programs that are sustainable, inclusive, principled, and innovative.”
Report highlights include:
The company is obtaining more than half of its global energy needs from renewable energy sources, mitigating more than 175,000 metric tons of carbon dioxide emissions annually.
The company expanded its diversity, equity, and inclusion efforts, and harmonized practices and policies.
The company confirmed its commitment to comply with the Responsible Business Alliance Code of Conduct.
Coherent’s silicon carbide (SiC) substrates and the SiC metal-oxide semiconductor field-effect transistors will further enable customers to bring to market high-performance electric vehicles, industrial motors, and renewable energy systems.
Coherent issued a Supplier ESG Standards statement.
Coherent has facilities worldwide and serves customers in the communications, electronics, industrial, and instrumentation markets.