Lumentum Holdings Inc. Secures EcoVadis Platinum Medal for Third Consecutive Year, Showcasing Unwavering Commitment to Sustainability Excellence
Lumentum Holdings, a prominent global leader in the development and provision of optical and photonic solutions for the cloud and networking markets, has been awarded the prestigious EcoVadis Platinum Medal for the third year in a row. This accolade signifies the highest level of achievement in sustainability performance and places Lumentum among the elite group of companies committed to responsible business practices worldwide.
As one of the top one percent of companies assessed by EcoVadis, Lumentum continues to demonstrate an exceptional commitment to sustainability across a broad range of environmental, social, and governance (ESG) initiatives.
In the latest EcoVadis assessment, Lumentum’s overall sustainability score increased to 83, up from a score of 80 in the previous year. This remarkable improvement reflects the company’s ongoing efforts to enhance its sustainability practices. The company’s improved performance was particularly notable in key areas such as Environment, Ethics, and Sustainable Procurement. The EcoVadis ratings are based on an in-depth evaluation of companies’ sustainability practices, and medals are awarded based on a company’s percentile rank in comparison to other companies in the assessment.
A Testament to Lumentum’s Sustainability Commitment
Misha Rozenberg, Executive Vice President and Chief Operations and Quality Officer at Lumentum, emphasized the significance of this achievement in a statement: “Earning the EcoVadis Platinum Medal for a third consecutive year helps us maintain our elite standing within the global sustainability community. This recognition is a testament to the culture of continuous improvement and accountability that we have fostered within our company.
Our dedicated teams around the world have been unwavering in their commitment to achieving our sustainability goals. From achieving greater emissions reductions to expanding the use of renewable energy across our operations, we are proud of the tangible progress we have made. I want to express my gratitude to all our teams, whose tireless efforts are key to our continued success in this area.”
For Lumentum, maintaining the highest standards of environmental, social, and ethical governance remains a top priority. As part of its ongoing commitment to sustainability, the company has been focused on reducing its environmental impact, increasing its use of renewable resources, and ensuring ethical practices across its global operations. In fiscal year 2024, Lumentum achieved significant milestones, underscoring the company’s dedication to creating a sustainable future.
Lumentum’s Key Environmental Accomplishments
Lumentum’s sustainability achievements are noteworthy, particularly in the area of reducing its environmental footprint. Among the company’s most significant environmental accomplishments in fiscal year 2024 are:
- Reduction of Greenhouse Gas Emissions: Lumentum successfully reduced its Scope 1 and 2 greenhouse gas (GHG) emissions by 38% in fiscal year 2024, compared to fiscal year 2023. This reduction occurred despite the company’s acquisition of a new business, illustrating Lumentum’s ability to minimize its environmental impact even while growing and expanding its operations.
- Increased Renewable Electricity Procurement: The company made substantial progress in its efforts to transition to renewable energy. In fiscal year 2024, Lumentum increased its procurement of renewable electricity to 79%, up from 61% in fiscal year 2023. This notable increase aligns with the company’s goal of reducing its carbon footprint and supporting the global transition to clean energy sources.
- Expansion of Solar Power Generation: Lumentum took a significant step towards sustainable energy generation by launching solar power projects at two major sites in fiscal year 2024: one at the company’s facility in Navanakorn, Thailand, and the other in San Jose, California, USA. These solar installations are a key part of Lumentum’s strategy to reduce reliance on non-renewable energy and lower its overall environmental impact.
- Greenhouse Gas Emissions Reduction Targets: Lumentum’s commitment to reducing its environmental footprint is further demonstrated by the approval of its near-term (2030) and long-term (2050) greenhouse gas emissions reduction targets by the Science-Based Targets initiative (SBTi). These ambitious targets provide a clear roadmap for the company to achieve net-zero emissions over the coming decades, aligning with global climate goals.
The Role of EcoVadis in Advancing Corporate Sustainability
EcoVadis is widely regarded as the global benchmark for business sustainability ratings. The EcoVadis assessment evaluates companies across 21 sustainability criteria, organized into four core categories: Environment, Labor and Human Rights, Ethics, and Sustainable Procurement. This comprehensive approach allows EcoVadis to provide a holistic view of a company’s sustainability practices, helping businesses identify areas for improvement and enhance their ESG performance.
The EcoVadis rating system is based on internationally recognized sustainability standards, including the Ten Principles of the UN Global Compact, the International Labour Organization (ILO) conventions, the Global Reporting Initiative (GRI) standards, and the UN Guiding Principles on Business and Human Rights. More than 100,000 companies across the globe have been assessed by EcoVadis, and its ratings have become a critical tool for businesses to assess their sustainability efforts and compare them to their peers.
In recognition of Lumentum’s outstanding performance, EcoVadis will plant a tree on behalf of the company through its partnership with One Tree Planted, a nonprofit organization focused on global reforestation efforts. This initiative highlights Lumentum’s commitment to supporting environmental sustainability beyond its direct operations.
Looking Ahead: Lumentum’s Future Sustainability Goals
Lumentum’s success in earning the EcoVadis Platinum Medal for the third consecutive year is only one part of the company’s broader sustainability journey. As Lumentum continues to expand its global operations, it remains committed to driving positive environmental and social impact through continuous improvement, transparency, and accountability.
The company has set ambitious sustainability goals for the coming years, with a particular focus on reducing its carbon footprint, increasing the adoption of renewable energy, and improving supply chain sustainability. Lumentum’s ongoing efforts to reduce emissions, enhance ethical business practices, and promote diversity and inclusion within its workforce are integral to its broader mission to create a positive and lasting impact on both the environment and society.
Lumentum’s commitment to sustainability is reflected not only in its operational initiatives but also in its engagement with customers, suppliers, and stakeholders. The company recognizes that achieving its sustainability goals requires collaboration across the value chain, and it works closely with its partners to drive meaningful change.
The Broader Impact of Lumentum’s Sustainability Efforts
Lumentum’s sustainability initiatives are not only beneficial for the company itself but also contribute to the broader global effort to address climate change and promote responsible business practices. By reducing its environmental impact, advancing renewable energy adoption, and ensuring ethical governance, Lumentum is helping to shape a more sustainable future for its industry and the world at large.
The company’s success in securing the EcoVadis Platinum Medal for three consecutive years serves as a model for other organizations, demonstrating that it is possible to achieve significant business growth while prioritizing sustainability. Lumentum’s achievements in areas such as emissions reduction, renewable energy procurement, and ethical procurement set a high bar for other companies to follow.
In an era where consumers, investors, and other stakeholders are increasingly demanding greater corporate responsibility, Lumentum’s approach to sustainability is not only helping to safeguard the environment but also strengthening its position as a leader in the optical and photonic solutions market. As the world continues to confront the challenges of climate change and social inequality, companies like Lumentum play a crucial role in driving positive change and leading by example.
Conclusion
Lumentum’s third consecutive EcoVadis Platinum Medal award is a powerful recognition of the company’s unwavering commitment to sustainability and responsible business practices. With a focus on reducing its environmental footprint, increasing the adoption of renewable energy, and promoting ethical governance, Lumentum is leading the way toward a more sustainable future.
As the company continues to achieve its ambitious sustainability goals, it remains a shining example of how businesses can thrive while prioritizing environmental and social responsibility. By setting bold targets, continuously improving its practices, and collaborating with partners across the value chain, is helping to create a more sustainable world for future generations.
To learn more about Lumentum’s ongoing sustainability efforts and achievements, visit the company’s 2024 Corporate Sustainability Report and explore how the company is driving positive change in the optical and photonic solutions industry.
About Lumentum
Lumentum (NASDAQ: LITE) is a market-leading designer and manufacturer of innovative optical and photonic products that enable optical networking and laser applications worldwide.optical components and subsystems are integral to virtually every type of telecom, enterprise, and data center network. In addition, lasers are pivotal in advanced manufacturing techniques and diverse applications, including next-generation 3D sensing capabilities. Headquartered in San Jose, California, operates R&D, manufacturing, and sales offices around the world.
