Comtech Releases Inaugural Corporate Social Responsibility Report

Rhea-AI Summary

Comtech (NASDAQ: CMTL) has released its Fiscal Year 2024 Corporate Social Responsibility Report, highlighting progress in key areas. The company developed a comprehensive Environmental, Health, and Safety Management System and launched Comtech University for employee professional development. Notable initiatives include completing their first company-wide greenhouse gas emissions inventory, partnering with carbon accounting software providers, and submitting their first climate change report to CDP. Following their headquarters relocation to Chandler, Arizona, Comtech sponsored the Chandler Innovation Fair and expanded employee volunteer programs.

Positive

• Implemented comprehensive Environmental, Health, and Safety Management System
• Launched Comtech University for employee development
• Established first company-wide greenhouse gas emissions tracking system

Negative

• None.

Fiscal Year 2024 report shares Company’s progress on environmental impact, workforce development, community investment, and more

CHANDLER, Ariz.--(BUSINESS WIRE)-- November 26, 2024-- Comtech Telecommunications Corp. (NASDAQ: CMTL) (“Comtech” or the “Company”), a global technology leader, today released its Fiscal Year 2024 (“FY24”) Corporate Social Responsibility (“CSR”) Report. The report highlights the Company’s progress in environmental impact, workforce development, community investment, and more.

“With FY24 serving as a transformational year for us, I am pleased to share our FY24 CSR Report as it presents a great opportunity to outline what Comtech stands for, and how our investments in our team and responsible business practices drive momentum,” said John Ratigan, President and CEO of Comtech. “We recognize the value in driving CSR within our organization, throughout our supplier network, and in our communities.”

The report details progress and new initiatives in critical areas for FY24, including:

• Health and Safety: In FY24, Comtech developed a comprehensive Environmental, Health, and Safety Management System to better engage with employees at all levels of the organization to further prevent work-related injuries and illnesses, environmental impacts, and foster a culture of continuous improvement.

• Professional Growth: In FY24, the Company launched Comtech University, to foster the professional development and continuous learning paths for our employees. This system serves two purposes: managers can identify growth opportunities for their talent and employees have the ability to self-select training to promote their own professional learning development.

• Environmental Impact: As part of Comtech’s sustainability strategy, the Company prioritized completing its first company-wide greenhouse gas emissions inventory. In FY24, Comtech partnered with a solutions provider for carbon accounting software and services, allowing the Company to more thoroughly quantify, monitor, and manage its operational carbon footprint.
  
  Additionally, Comtech completed its first climate change report to CDP, which includes a baseline greenhouse gas inventory for company-wide Scope 1 and 2 emissions. This inventory enables data-based decision-making to develop targeted carbon reduction projects and establish emissions reduction goals.

• Community Investment: With the move of Comtech’s global headquarters to Chandler, Arizona, the Company sponsored and participated in the annual Chandler Innovation Fair, which offers unique opportunities for attendees to explore the discoveries and importance of science by showcasing local engineering projects as well as concepts that are taught in Chandler Unified schools.
  
  Beyond community initiatives in Arizona, Comtech created new opportunities for employees to support a number of local nonprofits and implement new employee-driven volunteer initiatives.

Click here for the full report and more information on Comtech’s corporate social responsibility progress.

About Comtech
Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions. For more information, please visit www.comtech.com.

Forward-Looking Statements
Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results and performance could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241125217926/en/

Investor Relations Comtech

Maria Ceriello

631-962-7115

Maria.Ceriello@comtech.com

Media Contact Comtech

Jamie Clegg

480-532-2523

jamie.clegg@comtech.com

Source: Comtech Telecommunications Corp.

FAQ

What major initiatives did Comtech (CMTL) announce in its FY2024 CSR Report?

Comtech announced the implementation of an Environmental, Health, and Safety Management System, launched Comtech University for employee development, completed their first greenhouse gas emissions inventory, and expanded community investment initiatives in Chandler, Arizona.

How is Comtech (CMTL) addressing environmental sustainability in FY2024?

Comtech completed its first company-wide greenhouse gas emissions inventory, partnered with carbon accounting software providers, and submitted its first climate change report to CDP, including baseline Scope 1 and 2 emissions data.

What employee development programs did Comtech (CMTL) introduce in FY2024?

Comtech launched Comtech University, a professional development platform allowing managers to identify growth opportunities and employees to self-select training for their professional development.