Coherent Issues Its Environmental, Social, and Governance (ESG) Report for 2024

Rhea-AI Summary

Coherent Corp. (NYSE: COHR) has released its Environmental, Social, and Governance (ESG) Report for FY2024, highlighting significant sustainability achievements. The company now sources 78% of its global electricity needs from renewable sources, utilizing over 550 million kWh of renewable electricity annually, which resulted in avoiding 234,000 metric tons of CO2e emissions in FY2024.

Key accomplishments include receiving the Sapphire level Certification Champion recognition from the Board of Safety Professionals for employee safety commitment, and joining the Responsible Business Alliance (RBA) in 2024, demonstrating dedication to responsible business conduct in global supply chains.

The report provides comprehensive insights into Coherent's ESG initiatives, covering sustainability performance, employee management, governance practices, risk management, customer commitment, and community engagement. These efforts align with the company's mission to create a safer, healthier, closer, and more efficient world through breakthrough technologies in materials, networking, and lasers.

PITTSBURGH, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Coherent Corp. (NYSE: COHR), a leader in materials, networking, and lasers, today published its Environmental, Social, and Governance (ESG) Report for FY2024. The report is available on the Coherent website at this link.

Highlights from the ESG Report 2024 include:

• Coherent now obtains 78% of its global electricity needs from renewable sources, representing over 550 million kWh of renewable electricity per year, and thereby avoiding 234,000 metric tons of carbon dioxide equivalent (CO₂e) in FY2024.
  
  
• Coherent was named a Certification Champion at the Sapphire level by the Board of Safety Professionals in recognition of its commitment to employee safety.
  
  
• Coherent became a member in 2024 of the Responsible Business Alliance (RBA), the world’s largest industry coalition dedicated to responsible business conduct in global supply chains.
  

The ESG Report provides a point-in-time overview of the organization’s ESG initiatives beyond traditional financial disclosures. In the report, Coherent seeks to highlight its sustainability performance, including information about its employee base, its governance practices, its risk management framework, its commitment to its customers, and its dedication to the communities in which it operates. The company’s approach to ESG is essential to its mission of enabling the world to be safer, healthier, closer, and more efficient.

About Coherent

Coherent empowers market innovators to define the future through breakthrough technologies, from materials to systems. We deliver innovations that resonate with our customers in diversified applications for the industrial, communications, electronics, and instrumentation markets. Coherent has research and development, manufacturing, sales, service, and distribution facilities worldwide. For more information, please visit us at coherent.com.

Media Contact:

Amy Wilson
corporate.communications@coherent.com

FAQ

What percentage of renewable energy does Coherent (COHR) use in 2024?

Coherent obtains 78% of its global electricity needs from renewable sources, representing over 550 million kWh of renewable electricity per year.

How much CO2 emissions did Coherent (COHR) avoid in FY2024?

Coherent avoided 234,000 metric tons of carbon dioxide equivalent (CO2e) emissions in FY2024 through its renewable energy usage.

What sustainability certification did Coherent (COHR) receive in 2024?

Coherent was named a Certification Champion at the Sapphire level by the Board of Safety Professionals for its commitment to employee safety.

When did Coherent (COHR) join the Responsible Business Alliance?

Coherent became a member of the Responsible Business Alliance (RBA) in 2024.

What areas does Coherent's (COHR) 2024 ESG report cover?

The ESG report covers sustainability performance, employee base, governance practices, risk management framework, customer commitment, and community engagement initiatives.