Our vision is to deliver innovations that matter to our customers and enhance people’s lives. We link technology and economic progress with environmental, social, and governance responsibilities for the well-being of future generations and for achieving our business goals now and in the future. We take to heart our responsibilities to our stakeholders, including our customers, our employees, our stockholders, and the communities in which we operate. We are committed to creating a brighter future through environmental sustainability initiatives, building a diverse, equitable, and inclusive workforce, and maintaining a robust governance system.
We have adopted what we believe to be a rigorous methodology for measuring, reporting, and managing our impact. For our global facilities, we measure:
Scope 1 and Scope 2 greenhouse gas (GHG) emissions
Health and safety
We prepared our 2021 ESG Report in line with two leading global standards—SASB and TCFD. We recognize the impact of our footprint and the role we play in facilitating meaningful change to benefit the people and the places affected by our operations. We are developing action plans to achieve net zero GHG emissions by 2050. We are building a Novanta culture that is diverse, equitable, and inclusive. And we are expanding our governance reach through our value chain. Please visit section “Reporting Frameworks” for our full list of TCFD and SASB disclosures.
Safe Habor and Forward-Looking Information
This report contains certain forward-looking statements based on Novanta management’s current assumptions and expectations, including statements regarding our sustainability targets, goals, commitments, programs, acquisitions and their impact on our sustainability goals and targets, and other business plans, initiatives, and objectives. These statements are typically accompanied by the words “will,” “could,” “would,” “should,” “intend,” “hope,” “believe,” “expect,” “estimate,” “plan,” “aspire,” “aim,” “goal,” “pledge,” “potential,” or similar words and expressions. The Company makes such forward-looking statements under the provision of the “Safe Harbor” section of the Private Securities Litigation Reform Act of 1995. Actual future results, including the achievement of our targets, goals, or commitments, may vary materially from those projected, anticipated, or indicated in any forward-looking statements as a result of changes in circumstances, assumptions not being realized, or other risks, uncertainties, and factors. Such risks, uncertainties, and factors include the risk factors discussed in Item 1A of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as well as, with respect to our sustainability targets, goals, and commitments outlined in this report or elsewhere, the challenges and assumptions, risks, uncertainties, and factors identified in this report. You should consider the forward-looking statements in this report in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2021, and our subsequent Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K filed with the SEC. Novanta urges you to consider all of the risks, uncertainties, and factors identified above or discussed in such reports carefully in evaluating the forward-looking statements in this report. Novanta cannot assure you that the results reflected or implied by any forward-looking statement will be realized or, even if substantially realized, that those results will have the forecasted or expected consequences and effects. The forward-looking statements in this report are made as of the date of this report, unless otherwise indicated, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances, except as required under applicable law.
Topics We Are Focusing On
In 2021, we conducted an ESG assessment under the SASB and TCFD standards, consisting of a survey and interviews of senior leaders at Novanta, cross-referenced with key industry indicators to identify those ESG topics that may be most relevant to our stakeholders. The topics reveal Novanta’s strong commitment to producing the highest-quality products in an ethical manner.
Based on this ESG assessment, we are focusing on the following topics:
- Energy mix
- Waste management
- Business ethics
- Product safety and quality
- Supply chain traceability
- Financial performance
In 2022, we intend to update our ESG assessment and look forward to sharing any changes to the above topics in our 2022 ESG Report.