CHANDLER, Ariz., Sept. 1, 2022 /PRNewswire/ -- Viavi Solutions Inc. (VIAVI) (NASDAQ: VIAV) has released its 2022 Environmental, Social, and Governance (ESG) Report, covering the company's global operations for fiscal year 2022. The 2022 ESG Report follows the company's inaugural sustainability report in 2020 and the second report in 2021, and describes the ways in which VIAVI continues to work to integrate and embed sustainability into its strategy and operations. The 2022 ESG Report contains the results of the company's inaugural ESG Priority Assessment, which guides VIAVI's overall ESG strategy by identifying the environmental, social, and governance topics that have the greatest impact on its business strategy, success, and ability to generate long-term value. The 2022 ESG Report also includes the company's disclosures aligned with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and additional data regarding carbon dioxide (CO2) emissions, energy consumption, human capital management, and other relevant topics.
Environment
VIAVI promotes environmentally friendly practices and strives to conduct its business in a sustainable manner.
- VIAVI's Scope 1, Scope 2, and Scope 3 CO2 emissions are 42% lower than they were in 2015, and CO2 emissions intensity has decreased between 2017 and 2021 on both a headcount Full Time Equivalent (FTE) and a revenue basis.
- By running cloud-based test software for customers on the company's centralized servers, VIAVI reduces the potential CO2 emissions compared to each customer hosting the software themselves. VIAVI optical filters used in smartphone facial recognition systems save over 1 million metric tons of CO2 per year. GEOoptimize allows service providers to optimize their mobile networks so they use less power.
- VIAVI is engaged in a number of sustainability projects across its global sites, including the use of reclaimed water for an evaporative cooling system at VIAVI's new global headquarters in Chandler, Arizona and transitioning its Suzhou, China site to 100% renewable electricity within the next two years, which VIAVI expects will result in a reduction in annual Scope 2 CO2 emissions by over 3,000 metric tons.
Social
The VIAVI culture is made up of the diverse contributions of 3,600 employees worldwide representing more than 30 self-identified nationalities working across 30 countries. VIAVI is committed to promoting and maintaining a diverse and inclusive work environment and offering equal opportunities to everyone.
- VIAVI has created programs to attract and develop emerging talent, including our Research & Development Early-Career Program, for Network and Service Enablement, and Optical Security and Performance Products.
- The success of VIAVI's Safety program is demonstrated by its best-in-class Total Recordable Injury Rate (TRIR), significantly lower per 100 full-time workers per year compared to all industries and the industry category (NAICS 5179) in which VIAVI participates.
- In FY 2022, on average, 28% of VIAVI's U.S. suppliers were certified as diverse, verified by a third party on a quarterly basis. The company's vision is to grow a diverse and inclusive global supply chain, which includes annual spending with diverse-owned suppliers, as well as working with others to expand and enable inclusive sourcing practices across the industry.
- VIAVI wanted to offer support to the children and families of Ukraine through corporate donations to two nonprofit organizations providing emergency response on the ground. After carefully researching various organizations, the company identified UNICEF Emergency Response Fund for the Children of Ukraine and German Red Cross as the relief entities best positioned to deliver help immediately.
Governance
VIAVI furthered its commitment to the highest standards of business ethics and corporate governance through the implementation of business practices, tools, training, and communications.
- Eight out of nine members of our Board of Directors are independent (89%), and four are women or diverse (44%).
- Board members are elected on an annual basis, and the Board considers length of tenure when reviewing nominees in order to maintain overall balance of experience, continuity, and fresh perspective. Two-thirds of the Board have fewer than 10 years of tenure.
- All VIAVI employees and the Board of Directors are expected to adhere to its comprehensive Code of Business Conduct. Employees receive training biennially and certify their commitment to the Code annually in addition to training and awareness on other important governance and compliance topics.
"Over the past few years, and through the uncertainties of the COVID-19 pandemic, VIAVI has taken steps to further strengthen our ESG initiatives, including embracing the practices and behaviors that create the right environment for people to succeed," said Oleg Khaykin, President and CEO, VIAVI. "We will remain focused on helping our customers succeed, creating a more inclusive workforce, and making our business more sustainable in the years ahead, and believe that steadfast focus on our ESG initiatives accelerates our ability to deliver on these promises," said Richard Belluzzo, Board Chair, VIAVI.
About The Report
The 2022 ESG Report covers VIAVI global operations for fiscal year 2022, which began on July 4, 2021 and ended on July 2, 2022, unless otherwise noted, and includes the activities of the Company and its wholly owned subsidiaries. Throughout the report, VIAVI defines ESG as a way of categorizing the non-financial factors which impact the company's long-term performance, as well as a strategy for integrating relevant and priority ESG factors into its business to operate in a sustainable manner and realize long-term value. In 2022, VIAVI deepened its approach to ESG by conducting its inaugural ESG Priority Assessment. The ESG Priority Assessment is a governance measure that guides overall ESG strategy, as the process is designed to identify the environmental, social, and governance topics having the greatest impact on VIAVI's business strategy, success, and ability to generate long-term value. VIAVI aims to regularly assess a wide range of ESG topics to inform its strategy, and plan to increase the scope of its priority assessment and the level of involvement by internal and external stakeholders in subsequent iterations.
About VIAVI
VIAVI (NASDAQ: VIAV) is a global provider of network test, monitoring and assurance solutions for communications service providers, enterprises, network equipment manufacturers, original equipment manufacturers, government and avionics. We help these customers harness the power of instruments, automation, intelligence and virtualization. VIAVI is also a leader in light management solutions for the anti-counterfeiting, consumer electronics, industrial, government and automotive markets. Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn, Twitter, YouTube and Facebook.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current opinions, expectations, beliefs, plans, objectives, assumptions, or projections regarding future events or results, including, but not limited to, VIAVI's ESG-related commitments, strategies, and initiatives; business plans and strategy; technology, products, and services; opportunities for growth; and stakeholder engagement efforts. These forward-looking statements involve risks and uncertainties that could cause actual results, levels of activity, performance, achievements, and events to differ materially from those stated, anticipated, or implied by such forward-looking statements. For more information on the risks and uncertainties associated with VIAVI please refer to the "Risk Factors" sections of VIAVI's filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. The forward-looking statements contained in this press release are made as of the date thereof and VIAVI assumes no obligation to update such statements.
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