AeroVironment Releases Inaugural Corporate Social Responsibility Report

Rhea-AI Summary

AeroVironment (NASDAQ: AVAV) has published its inaugural Corporate Social Responsibility report, focusing on its environmental, social, and governance (ESG) practices. The report sets baseline metrics for future improvements and reflects the company's commitment to sustainability and diversity. Key achievements include ISO 14001 certification at multiple facilities, a new e-waste recycling program, and the establishment of committees to enhance workplace diversity. AeroVironment plans to release updated reports annually, showcasing its ongoing ESG initiatives.

Positive

• Published inaugural Corporate Social Responsibility report outlining ESG commitment.
• Achieved ISO 14001 certification at eight facilities, indicating high environmental standards.
• Initiated an e-waste recycling program with funds donated to local education.
• Established a Diversity and Inclusion Committee to promote an inclusive culture.
• Received Great Place to Work certification for the fourth consecutive year.

Negative

• None.

• Emphasizes AeroVironment’s commitment to transparency of its environmental, social and governance practices
• Report establishes baseline metrics that the company can build upon

ARLINGTON, Va.--(BUSINESS WIRE)-- AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, announced today the publication of its inaugural Corporate Social Responsibility report, detailing the company’s environmental, social and governance achievements to date and its commitment to developing sustainable products, cultivating a diverse and inclusive workforce, and pursuing continuous improvement in environmental performance for the future. The company plans to release an updated report on progress annually.

AeroVironment has published its first Corporate Social Responsibility report, highlighting its commitment to environmental, social and governance (ESG) practices and establishing baseline metrics. (Photo: AeroVironment, Inc.)

“AeroVironment is built on a legacy of more than 50 years of environmental stewardship and our continued commitment to sustainability is embedded in our company’s mission of developing innovative, future-forward technologies that save energy, resources and lives,” said Wahid Nawabi, AeroVironment chairman, president and chief executive officer. “With our inaugural sustainability report, we are able to translate these inherent ideals into tangible data that we can evaluate and improve upon.

“Setting these expectations and communicating them publicly to our employees, customers, partners, suppliers, communities and shareholders further strengthens our commitment to doing more with less and ensuring that our environmental footprint is as light as possible while hopefully inspiring other organizations to follow suit.”

Highlights from the report include:

• The creation of a cross-functional internal team tasked with advancing AeroVironment’s environmental, social and governance (ESG) goals, practices and initiatives
• The formation of a Diversity and Inclusion Committee to lead the charter of building an inclusive culture that encourages, supports and celebrates the diverse voices of the workforce
• Achievement of International Organization for Standardization (ISO) 14001 certification at eight facilities with 66 percent of AeroVironment’s facilities demonstrating that the company adheres to the highest standards for identifying, monitoring and controlling environmental impacts
• Initiation of a robust e-waste recycling program for obsolete technology, making sure that salvageable materials are reused and hazardous materials are disposed of properly, donating the revenue received from the recycler to a local education foundation
• Commitment to partnering with small, disadvantaged, woman-owned, and veteran and disabled veteran-owned businesses to the fullest extent possible in Federal Government contracts through Small Business Participation Plan, providing small businesses with equitable opportunity to participate and compete in procurements of products and services
• Achievement of Great Place to Work® certification for the fourth consecutive year based on exceptionally high employee survey ratings and continuous improvements made companywide

To view AeroVironment’s inaugural 2022 Corporate Social Responsibility report, visit www.avinc.com.

ABOUT AEROVIRONMENT, INC.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.

SAFE HARBOR STATEMENT

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220823005328/en/

Makayla Thomas

AeroVironment, Inc.

+1 (805) 520-8350

pr@avinc.com



Mark Boyer

For AeroVironment, Inc.

+1 (310) 229-5956

mark@boyersyndicate.com

Source: AeroVironment, Inc.

FAQ

What are the key highlights of AeroVironment's Corporate Social Responsibility report for 2022?

AeroVironment's 2022 CSR report highlights include ISO 14001 certification at eight facilities, a new e-waste recycling program, and the establishment of a Diversity and Inclusion Committee.

How does AeroVironment plan to improve its ESG practices in the future?

AeroVironment plans to release updated CSR reports annually to communicate progress on its ESG practices and initiatives.

What certifications has AeroVironment achieved related to its environmental practices?

AeroVironment has achieved ISO 14001 certification at eight of its facilities, demonstrating adherence to high environmental management standards.

What is AeroVironment's approach to diversity and inclusion?

AeroVironment has created a Diversity and Inclusion Committee to promote an inclusive workplace that celebrates diverse voices within the company.

How many consecutive years has AeroVironment been certified as a Great Place to Work?

AeroVironment has received Great Place to Work certification for four consecutive years, based on high employee survey ratings.