ESG Report 2022
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ESG Report 2021
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ESG Report 2022
ESG Report 2021

Corporate Sustainability Strategy

Creating a Brighter Future

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In 2020, we set five corporate ESG targets that we aim to achieve by the end of 2023, excluding the impact of new business acquisitions. We plan to adjust both our baselines and our ESG targets for future acquisitions in the fiscal year following the year in which the acquisition is consummated. Below is our current progress against those targets set in 2020. The categories outlined below are in accordance with SASB and TCFD standards.

Category
Our Short-term Targets
Current Status by End of 2021
Environmental
To achieve our long-term goal of net zero greenhouse gas emissions by 2050, we set the following short-term objectives:

  • Phase 1: By the end of 2021, determine current energy and greenhouse gas emissions status;
  • Phase 2: By the end of 2022, set goals for greenhouse gas emissions reductions.
We have achieved both objectives:

  • We have determined our current energy and greenhouse gas emissions status and have disclosed Scope 1 and Scope 2 greenhouse gas emissions in this report;
  • 28% of our energy sources are now renewable as of 2021;
  • We pledge a further 15% reduction in Scope 1 and Scope 2 greenhouse gas emissions intensity (excluding new acquisitions) by 2026.
Social
Provide employees with one day of paid time-off (PTO) to volunteer at an approved non-profit organization

  • Complete 500 days of community service Novanta-wide
  • Employees have been granted one day of PTO to volunteer per year since 2020.
  • Novanta conducted community service events despite COVID-related limitations.
Social
Expand our Diversity, Equity, and Inclusion (DEI) efforts

  • Phase 1: By April 2021, determine current status of DEI at Novanta
  • Phase 2: By January 2022, develop roadmap
  • Increase diversity of Board of Directors
Completed phases 1 and 2:

  • Hired our first Vice President of Leadership Development and Diversity, Equity, and Inclusion;
  • Set 2026 DEI targets;
  • Launched 2 Employee Resource Groups;
  • Board of Directors: Added one more woman to our Board of Directors during 2021 when our former Chairperson retired from the Board.
Governance
Integrate sustainability criteria in purchasing
In 2021,

  • 100% of Key Suppliers1 have agreed to comply with our Supplier Code of Conduct.
  • We enhanced our Supplier Code of Conduct to include stricter labor compliance requirements.
  • We conducted a digital survey on our top strategic suppliers to assess their compliance with added environmental criteria.
Governance
Expand relevant ISO certification to all applicable facilities, including ISO 14001
In 2021, conducted:

  • EHS audits on major Novanta facilities;
  • 4 certification/recertification audits for ISO 14001;
  • 3 certification audits for ISO 45001.
1 Key Suppliers are suppliers that represent 80% of our annual total spend plus other suppliers below the 80% spend threshold but supply materials particularly important to the quality and performance of our products as measured during 2021.
Environmental
Our Short-term Targets

To achieve our long-term goal of net zero greenhouse gas emissions by 2050, we set the following short-term objectives:

  • Phase 1: By the end of 2021, determine current energy and greenhouse gas emissions status;
  • Phase 2: By the end of 2022, set goals for greenhouse gas emissions reductions.
Current Status by End of 2021

We have achieved both objectives:

  • We have determined our current energy and greenhouse gas emissions status and have disclosed Scope 1 and Scope 2 greenhouse gas emissions in this report;
  • 28% of our energy sources are now renewable as of 2021;
  • We pledge a further 15% reduction in Scope 1 and Scope 2 greenhouse gas emissions intensity (excluding new acquisitions) by 2025.
Social
Our Short-term Targets

Provide employees with one day of paid time-off (PTO) to volunteer at an approved non-profit organization

  • Complete 500 days of community service Novanta-wide
Current Status by End of 2021

  • Employees have been granted one day of PTO to volunteer per year since 2020.
  • Novanta conducted community service events despite COVID-related limitations.
Social
Our Short-term Targets

Expand our Diversity, Equity, and Inclusion (DEI) efforts

  • Phase 1: By April 2021, determine current status of DEI at Novanta
  • Phase 2: By January 2022, develop roadmap
  • Increase diversity of Board of Directors
Current Status by End of 2021

Completed phases 1 and 2:

  • Hired our first Vice President of Leadership Development and Diversity, Equity, and Inclusion;
  • Set 2026 DEI targets;
  • Launched 2 Employee Resource Groups;
  • Board of Directors: Added one more woman to our Board of Directors during 2021 when our former Chairperson retired from the Board.
Governance
Our Short-term Targets

Integrate sustainability criteria in purchasing
Current Status by End of 2021

In 2021,

  • 100% of Key Suppliers1 have agreed to comply with our Supplier Code of Conduct.
  • We enhanced our Supplier Code of Conduct to include stricter labor compliance requirements.
  • We conducted a digital survey on our top strategic suppliers to assess their compliance with added environmental criteria.
Governance
Our Short-term Targets

Expand relevant ISO certification to all applicable facilities, including ISO 14001
Current Status by End of 2021

In 2021, conducted:

  • EHS audits on major Novanta facilities;
  • 4 certification/recertification audits for ISO 14001;
  • 3 certification audits for ISO 45001.
1 Key Suppliers are suppliers that represent 80% of our annual total spend plus other suppliers below the 80% spend threshold but supply materials particularly important to the quality and performance of our products as measured during 2021.
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2021 ESG Achievements

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