It is important for you to know how your investments are making a difference. We wanted to share a company highlight from our Blue Summit investment models.
Corning, a global leader in materials science, is renowned for its innovations in glass, ceramics, and fiber optics. Most commonly, their Gorilla Glass product line is what graces the front of most smartphones. Their technologies are integral to advancements in telecommunications, display technologies, environmental technologies, and life sciences.
Corning is unequivocally dedicated to environmental and social responsibility, some policies and achievements are outlined below:
Greenhouse Gas Emissions Reduction: They are committed to achieving significant reductions in their Scope 1 and Scope 2 emissions by enhancing energy efficiency and incorporating renewable energy sources into their operations. Their near term emissions goals have been approved by the Science Based Targets Initiative (SBTi).
Energy Efficiency: They have implemented energy management systems and conduct regular energy audits to identify opportunities for reducing energy consumption. Entered a virtual power purchase agreement for a solar plant that is expected to provide enough renewable electricity for 100% of European operations.
Waste Reduction and Recycling: They have established comprehensive waste management programs that focus on reducing waste generation, increasing recycling rates, and diverting waste from landfills. In Wilmington, North Carolina, they recycled 3.5m liters of water by sending HVAC condensate to cooling towers.
Sustainable Product Development: They prioritize the use of sustainable materials and design products that are energy-efficient and environmentally friendly. Developed the Corning® SMF-28®Contour optical fiber portfolio with reduced coating diameters, decreasing size and materials in cable solutions to lower carbon footprint by up to 60%.
Social Responsibility: Scored 100 on the Disability Equality Index® and named Best Place to Work list by the American Association of People with Disabilities and Disability. Over 30,000 hours of employee volunteer hours in 2023. Provided $3.5m in charitable giving to 264 organizations.
Notably, Corning is affiliated with organizations such as the Carbon Disclosure Project (CDP) and the Sustainable Packaging Coalition. Their collaboration with CDP helps track and manage their greenhouse gas emissions, while their involvement with the Sustainable Packaging Coalition supports initiatives to minimize environmental impact through innovative packaging solutions.
Take a look at their 2023 Sustainability Report here, it’s packed with in-depth information on how they are taking responsibility seriously. I highly recommend browsing through it!
We are proud to include companies like Corning in our portfolio, as they exemplify our sustainable investment values. They are just one example of how Blue Summit investment models provide solutions for a more sustainable future.
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Blue Summit does not directly invest in Corning. They are a holding within the IMPAX Global Environmental Markets Fund. Some, but not all clients, are invested in this fund.
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