Cubic Corporation Publishes Inaugural 2020 Corporate Responsibility Report

Rhea-AI Summary

Cubic Corporation (NYSE:CUB) has released its inaugural 2020 Corporate Responsibility Report, emphasizing its commitment to environmental, social, and governance (ESG) practices. Key highlights include a 17% reduction in CO₂ intensity and an 18% decrease in Scope 2 CO₂ emissions in 2020. The company also responded to COVID-19 by producing over 1 million face coverings for employees and the community. Cubic improved its total recordable injury rate by 10% and was recognized as a Top Workplace in San Diego.

Positive

• 17% reduction in CO2 intensity in 2020.
• 18% decrease in Scope 2 CO2 emissions.
• Produced over 1 million face coverings for employees and community.
• 10% improvement in total recordable injury rate.
• Recognized as a 2020 Top Workplace in San Diego.

Negative

• None.

Cubic Corporation (NYSE:CUB) today announced it has published its inaugural 2020 Corporate Responsibility Report, highlighting the company’s environmental, social and governance (ESG) practices and achievements.

“This inaugural report highlights our commitment to sustainable, conscious business conduct and addresses ESG matters that are critical to our strategy and Cubic’s success as a technology-driven, market-leading company,” said Bradley H. Feldmann, chairman, president and chief executive officer, Cubic Corporation. “Each day, we are guided by our purpose – our TEAMS innovate to make a positive difference in people’s lives – which drives us to create innovative solutions that deliver sustainable value for our people, customers, communities and shareholders.”

The report discusses Cubic’s initiatives and advancements in environmental, social and governance for fiscal year 2020, including:

• Environmental Management: In 2020, Cubic reduced its CO² intensity by 17 percent and reduced its Scope 2 CO² emissions by 18 percent. Cubic’s goal is to reduce CO² intensity 45 percent from its 2019 baseline by fiscal year 2025.
• Social – COVID-19 and Social Justice Response: In response to COVID-19, a COVID-19 working group was created to address the safety and health of employees. Cubic also repurposed a manufacturing facility and created over 1 million face coverings which were distributed to employees and donated to the community. To address social injustice issues, Cubic created virtual forums for employees to engage and share their candid experiences and emotions.
• Community Engagement: Cubic employees donate their time and resources to help support military veteran organizations; science, technology, engineering and math (STEM); health and human services; and local civic affairs. In addition to volunteerism, Cubic deployed personnel and satellite communications systems to support disaster recovery efforts.
• Culture: Cubic was recognized as a 2020 Top Workplace in San Diego from the San Diego Union-Tribune and was awarded the Corporate Social Responsibility, Diversity, Equity and Inclusion award from the San Diego Business Journal.
• Health and Safety: In 2020, the Cubic total recordable injury rate improved by 10 percent towards its fiscal year 2025 best-in-class target of 0.30 percent. Cubic also aligned with a global Health, Safety and Environment (HS&E) Management System to ensure best-in-class, safe work environments for employees.
• Innovation and Product Stewardship: Cubic delivered smart ticketing and contactless payment systems for transportation customers in the U.S., Europe and Australia, helping customers meet their CO² reduction targets.
• Supply Chain: Cubic streamlined its approach to supplier certifications, continues to improve its supply chain diversity program and partners with suppliers that share the same values and commitments to environment, social and governance priorities.
• Corporate Governance: Cubic’s strong governance practices ensure the sustainable success of the company through transparency and accountability.

“As an organization, we have made significant progress in the areas of ESG and sustainability,” said Richard Aceves, senior director of responsible business, Cubic Corporation. “We will continue to advance our ESG practices and hold ourselves to the highest standards of business ethics, transparency and social accountability.”

Cubic’s report features data and activities for fiscal year 2020, ending September 30, 2020. The report has been prepared with reference to the Sustainability Accountability Standards Board (SASB) and United Nations Global Compact (UNGC) standards.

To access the 2020 Corporate Responsibility Report please click here. For more information on Cubic’s corporate ESG efforts, please visit: www.cubic.com/ESG.

About Cubic Corporation

Cubic is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR, and training customers worldwide to decrease urban congestion and improve the militaries’ effectiveness and operational readiness. Our teams innovate to make a positive difference in people’s lives. We simplify their daily journeys. We promote mission success and safety for those who serve their nation. For more information about Cubic, please visit www.cubic.com or on Twitter @CubicCorp.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210127005794/en/

FAQ

What are the key highlights from Cubic's 2020 Corporate Responsibility Report?

Cubic Corporation reported a 17% reduction in CO2 intensity, an 18% decrease in Scope 2 CO2 emissions, and produced over 1 million face coverings in response to COVID-19.

How did Cubic address COVID-19 in 2020?

Cubic created a COVID-19 working group and repurposed a manufacturing facility to produce over 1 million face coverings for employees and the community.

What improvements did Cubic achieve in workplace safety in 2020?

Cubic improved its total recordable injury rate by 10% towards its fiscal year 2025 target.

What recognition did Cubic receive for its workplace culture?

Cubic was recognized as a 2020 Top Workplace in San Diego by the San Diego Union-Tribune.