Cara Therapeutics Releases Inaugural Environmental, Social, and Governance Report

Rhea-AI Summary

Cara Therapeutics (Nasdaq: CARA) has released its inaugural Environmental, Social, and Governance (ESG) report, outlining efforts in corporate governance, diversity, environmental stewardship, and community engagement. The report highlights a cross-functional ESG Group that reports to the Board, a gender-balanced leadership team with 33% workforce diversity, and initiatives aimed at reducing carbon footprint. Cara has also instituted a Day of Service for employee community engagement. CEO Christopher Posner emphasized the company's commitment to sustainability and transparency in its ongoing ESG efforts.

Positive

• Established a cross-functional ESG Group reporting to the Board.
• Achieved a gender-balanced leadership team and 33% workforce diversity.
• Implemented energy efficiency initiatives and a move towards a paper-free environment.
• Introduced a fully paid Day of Service program for employees.

Negative

• None.

STAMFORD, Conn., March 14, 2023 (GLOBE NEWSWIRE) -- Cara Therapeutics, Inc. (Nasdaq: CARA), a commercial-stage biopharmaceutical company leading a new treatment paradigm to improve the lives of patients suffering from pruritus, today released its inaugural Environmental, Social, and Governance (ESG) report highlighting the Company’s efforts in key areas such as corporate governance, diversity and inclusion in the workplace, environmental stewardship and social responsibility.

“Our first ESG report establishes a solid reporting baseline of the work underway at Cara Therapeutics that extends beyond our commitment to transforming the way chronic pruritus is treated and reflects our focus on innovating sustainability, operating responsibly and empowering people,” said Christopher Posner, President and Chief Executive Officer of Cara Therapeutics. “We look forward to providing an annual account of our ongoing ESG efforts and being transparent about our performance, progress, and challenges as we strive to make fundamental ESG issues a key consideration for how we do business.”

Cara Therapeutics’ 2022 ESG Report can be viewed here. Highlights of the report include:

Corporate governance: The Company has implemented a cross-functional ESG Group that will meet on a regular basis and report to the Board of Directors periodically on policy implementation and improvement.

Workplace diversity: The Company continues to strengthen its diversity and inclusivity efforts including a gender-balanced leadership team and Board of Directors. The Company’s employee base has grown to reflect the national labor force and incorporate gender balance with 33 percent diversity among its workforce and 58 percent of its employees being female.

Environmental stewardship: To reduce its carbon footprint, the Company focused on energy and waste through the execution of several initiatives including moving toward becoming a paper-free work environment, developing energy efficiency policies, and minimizing single-use plastics in the office.

Community service: The Company is committed to giving back to the communities where it operates and has instituted a fully paid Day of Service program for employees to donate their time to charitable causes in their communities.

About Cara Therapeutics

Cara Therapeutics is a commercial-stage biopharmaceutical company leading a new treatment paradigm to improve the lives of patients suffering from pruritus. The Company’s KORSUVA^® (difelikefalin) injection is the first and only FDA-approved treatment for moderate-to-severe pruritus associated with chronic kidney disease in adults undergoing hemodialysis. The Company is developing an oral formulation of difelikefalin and has Phase 3 programs ongoing for the treatment of pruritus in patients with non-dialysis dependent advanced chronic kidney disease and atopic dermatitis. In addition, the Company has initiated a Phase 2/3 program of oral difelikefalin for the treatment of moderate-to-severe pruritus in patients with notalgia paresthetica. For more information, visit www.CaraTherapeutics.com and follow the company on Twitter, LinkedIn and Instagram.

MEDIA CONTACT:
Annie Spinetta
6 Degrees
973-768-2170
aspinetta@6degreespr.com

INVESTOR CONTACT:
Iris Francesconi, Ph.D.
Cara Therapeutics
203-406-3700
investor@caratherapeutics.com

FAQ

What is the significance of Cara Therapeutics' first ESG report released in 2023?

The report signifies Cara's commitment to transparency in its efforts towards corporate governance, diversity, and environmental sustainability.

What key initiatives were highlighted in Cara Therapeutics' ESG report?

Key initiatives include a cross-functional ESG Group, workforce diversity, energy efficiency policies, and a Day of Service for community engagement.

How does Cara Therapeutics promote workplace diversity?

Cara promotes workplace diversity by maintaining a gender-balanced leadership team and achieving 33% diversity within its workforce.

What environmental efforts is Cara Therapeutics undertaking?

Cara is focusing on reducing its carbon footprint through energy efficiency initiatives and minimizing paper usage and single-use plastics.

When was the ESG report from Cara Therapeutics published?

The ESG report was published on March 14, 2023.