CooperCompanies Releases 2020 Environmental, Social, and Governance Report

Rhea-AI Summary

CooperCompanies (NYSE: COO) released its inaugural Environmental, Social, and Governance (ESG) Report, showcasing its commitment to ethical practices and social responsibility. Highlights include a partnership with Plastic Bank® for net plastic neutral contact lenses and sourcing 100% renewable electricity for key facilities. The report emphasizes diversity, with women comprising 48% of the workforce and achieving gender parity on the Board. Cooper's goals align with the United Nations Sustainable Development Goals, particularly in health and well-being. The company aims to enhance global health through innovation and responsible practices.

Positive

• Partnership with Plastic Bank® for net plastic neutral contact lenses.
• All key facilities utilize 100% renewable electricity.
• Diversity initiatives with 48% female workforce and gender parity on Board by July 2021.
• Recognized as a Great Place to Work for three consecutive years.

Negative

• None.

SAN RAMON, Calif., June 15, 2021 (GLOBE NEWSWIRE) -- CooperCompanies (NYSE: COO) announced today the publication of its first Environmental, Social, and Governance (ESG) Report, highlighting the Company’s progress on ESG items most important to its businesses and stakeholders, including employees, shareholders, customers, and global communities.

“At Cooper, we believe operating with integrity and conducting our business in a socially and environmentally responsible manner is important to our long-term success. We are proud of our ESG progress and committed to accomplishing more,” said Al White, President and CEO of CooperCompanies (“Cooper”).

Cooper’s 2020 ESG Report details its commitment to bringing health and vision care to more people worldwide through ethical business practices and innovative, high-quality products. It includes the Company’s approach and progress on key ESG priority issues identified during a recent materiality assessment, including product quality and patient safety; business ethics; employee health and safety; diversity and inclusion; and human capital management. In developing the report, Cooper aligned with the Sustainability Accounting Standards Board (SASB) standards.
Key report highlights include:

• Established a breakthrough partnership with Plastic Bank® that makes CooperVision’s clariti® 1 day the first net plastic neutral contact lens in the U.S.
• All key facilities in New York and the United Kingdom source 100% renewable electricity via Renewable Energy Certificates.
• Women make up approximately 48% of Cooper’s global workforce. The Company will achieve gender parity on its Board of Directors as of July 2021 with the addition of its fourth woman director.
• Received certification as a Great Place to Work in the U.S. for the third consecutive year and recognition as one of the Top 10 Best Large Workplaces in Manufacturing and Production in the U.S.

Cooper’s mission of improving lives one person at a time is grounded in enhancing the health and wellness of people and communities across the globe. The company aligned our commitments with United Nations Sustainable Development Goals (“SDGs”), in particular with three SDG’s that most closely connect with its business: #3 Good Health and Well-being, #12 Responsible Consumption and Production, and #17 Partnerships.

Read more in the Cooper 2020 Environmental, Social, and Governance Report: https://www.coopercos.com/esg-report-2020/

About CooperCompanies
CooperCompanies ("Cooper") is a global medical device company publicly traded on the NYSE (NYSE: COO). Cooper operates through two business units, CooperVision and CooperSurgical. CooperVision brings a refreshing perspective on vision care with a commitment to developing a wide range of high-quality products for contact lens wearers and providing focused practitioner support. CooperSurgical is committed to advancing the health of women, babies and families with its diversified portfolio of products and services focusing on medical devices and fertility & genomics. Headquartered in San Ramon, CA, Cooper has a workforce of more than 12,000 with products sold in over 100 countries. For more information, please visit www.coopercos.com.

Contact:
Kim Duncan
Vice President, Investor Relations and Risk Management
925-460-3663
ir@cooperco.com

FAQ

What are the key highlights of CooperCompanies' ESG Report released in June 2021?

The key highlights include a partnership with Plastic Bank® for net plastic neutral contact lenses, sourcing 100% renewable electricity at key facilities, and achieving gender parity on the Board of Directors.

How does CooperCompanies align its goals with the United Nations Sustainable Development Goals?

CooperCompanies aligns its goals with the UN Sustainable Development Goals focusing on health and well-being, responsible consumption, and partnerships.

What percentage of CooperCompanies' workforce is female as mentioned in their ESG Report?

Approximately 48% of CooperCompanies' global workforce is female.

When does CooperCompanies expect to achieve gender parity on its Board of Directors?

CooperCompanies expects to achieve gender parity on its Board of Directors by July 2021.

What recognition has CooperCompanies received for workplace culture?

CooperCompanies has been certified as a Great Place to Work in the U.S. for three consecutive years.