Lumentum Releases Fiscal 2023 Corporate Sustainability Report

Rhea-AI Summary

Lumentum Holdings Inc. releases its fiscal 2023 Corporate Sustainability Report, highlighting achievements in emissions reduction, employee development programs, and power consumption decrease.

Positive

• Lumentum achieved a 25% decrease in greenhouse gas emissions compared to fiscal 2022.
• The company doubled the percentage of renewable energy sourced for its global operations, reaching 61% in fiscal 2023.
• Lumentum introduced four new Employee Resource Groups (ERGs) and launched leadership development certificate programs in partnership with Duke University.
• The company realized significant power reduction across multiple product lines, including a 79% reduction in relative power usage for high-speed digital coherent optical data transmission modules.

Negative

• None.

Third annual sustainability report highlights 25% YOY decrease in emissions, new employee development programs, and significant decrease in power consumption across multiple products

SAN JOSE, Calif.--(BUSINESS WIRE)-- Lumentum Holdings Inc. ("Lumentum"), a market-leading designer and manufacturer of innovative optical and photonic products, today announced the publication of its fiscal 2023 Corporate Sustainability Report, highlighting the company's environmental, social, and governance progress and achievements.

"During fiscal 2023, our talented teams around the world worked together to accelerate the design and development of cutting-edge processes and innovative products that improve lives and contribute to a more sustainable world,” said Lumentum President and CEO Alan Lowe. "I am extremely proud of the significant progress made on many of the company’s sustainability goals, especially during a year with multiple acquisitions and new product introductions.”

Highlights from Lumentum’s fiscal 2023 Corporate Sustainability Report include:

Planet – Lighter Impact: Progress on Climate Goals During an Acquisition Integration Year

Lumentum continues to make substantial progress on its aggressive goal of achieving net-zero Scope 1 and 2 emissions by 2030, and remains committed to aligning its emission reduction targets with the Science-Based Targets initiative (SBTi).

• Achieved a 25% decrease in Scope 1 and 2 greenhouse gas (GHG) emissions as compared to fiscal 2022, despite the integration of two acquisitions and subsequent expansion in facility footprint.
• Doubled the percentage of renewable energy sourced for our global operations, from 31% to 61% in fiscal 2023.
• Transitioned three additional sites to 100% renewable electricity, bringing our total to 11 sites.

People – Positive Impact: New Career Development and Diversity, Inclusion, Belonging (DIB) Programs

Lumentum is committed to enabling its workforce to thrive, while fostering a diverse and inclusive culture where all employees feel welcomed and supported.

Among the many new programs and initiatives established in fiscal 2023 to fulfill this commitment were:

• The introduction of four new Employee Resource Groups (ERGs) to create a diverse and supportive working environment.
• The launch of multiple new leadership development certificate programs in partnership with Duke University, including the Aspire Certificate Program that was completed by nearly 100 early career professionals around the world.
• An expanded Lumentum mentorship program, encompassing over 330 participants, to advance employee growth and retention.

Innovation – Breakthrough Impact: Significant Power Reduction Realized across Multiple Product Lines

At Lumentum, technology innovation is core to the company’s commitment to improving the energy efficiency and power consumption of our products, while still enabling high-speed connectivity for our customers and end users.

Newly designed products in fiscal 2023 included significant advancements such as:

• Wavelength Selective Switch (WSS) TrueFlex® products, which achieved anywhere from 20% to 50% power reduction per switching capacity through innovative design improvements and functional integration.
• High-speed digital coherent optical data transmission modules used in internet backbone applications, which achieved a 79% reduction in relative power (W/Gb) usage (Gen 3 800G vs 100G).
• 200G PAM4 externally modulated lasers (EMLs), which were recognized in the 2023 Lightwave Innovation Reviews for providing innovative and cost-effective solutions that lower power consumption for the industry. The Lightwave award marks the second industry win for the company’s EML products, following last year's award from the European Conference on Optical Communication (ECOC) for the “Data Center Innovation / Best Product of 2022” award.

“There is so much to celebrate in this year’s fiscal 2023 Corporate Sustainability Report, which showcases the many ways our breakthrough advancements and innovative solutions are transforming how people connect, create, and interact. We also recognize that it takes constant effort, over time, to enact lasting change when it comes to sustainability initiatives. We remain committed to consistently monitoring our progress and improving our processes year over year to achieve our long-term goals, on our journey to create a brighter future for the world we live in,” said Lumentum President and CEO Alan Lowe.

More highlights can be found in the full fiscal 2023 Corporate Sustainability Report, along with detailed data and additional activities from our fiscal 2023 which ended July 1, 2023. This report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards for sustainability impacts, applies the standards of the Sustainability Accounting Standards Board (SASB), and references the United Nations Sustainable Development Goals (UN SDGs).

About Lumentum

Lumentum (NASDAQ: LITE) is a market-leading designer and manufacturer of innovative optical and photonic products enabling optical networking and laser applications worldwide. Lumentum optical components and subsystems are part of virtually every type of telecom, enterprise, and data center network. Lumentum lasers enable advanced manufacturing techniques and diverse applications including next-generation imaging and sensing capabilities. Lumentum is headquartered in San Jose, California with R&D, manufacturing, and sales offices worldwide. For more information, visit www.lumentum.com and follow Lumentum on LinkedIn, X (formerly known as Twitter), Facebook, Instagram and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231012541050/en/

Investors: Kathy Ta, 408-750-3853, investor.relations@lumentum.com

Media: Noël Bilodeau, 408-439-2140, noel.bilodeau@lumentum.com or Hotwire Global, lumentum@hotwireglobal.com

Source: Lumentum

FAQ

What are the achievements highlighted in Lumentum's fiscal 2023 Corporate Sustainability Report?

Lumentum achieved a 25% decrease in greenhouse gas emissions compared to fiscal 2022. The company doubled the percentage of renewable energy sourced for its global operations, reaching 61% in fiscal 2023. Lumentum introduced four new Employee Resource Groups (ERGs) and launched leadership development certificate programs in partnership with Duke University. The company realized significant power reduction across multiple product lines, including a 79% reduction in relative power usage for high-speed digital coherent optical data transmission modules.

What is Lumentum's goal for emissions reduction?

Lumentum aims to achieve net-zero Scope 1 and 2 emissions by 2030.

How much did Lumentum decrease its greenhouse gas emissions in fiscal 2023 compared to fiscal 2022?

Lumentum achieved a 25% decrease in Scope 1 and 2 greenhouse gas emissions compared to fiscal 2022.

What percentage of renewable energy did Lumentum source for its global operations in fiscal 2023?

Lumentum sourced 61% of renewable energy for its global operations in fiscal 2023.

What new programs and initiatives did Lumentum establish in fiscal 2023 to support its workforce?

Lumentum introduced four new Employee Resource Groups (ERGs) and launched leadership development certificate programs in partnership with Duke University. The company also expanded its mentorship program.

What advancements did Lumentum achieve in power reduction for its products in fiscal 2023?

Lumentum realized significant power reduction across multiple product lines, including a 79% reduction in relative power usage for high-speed digital coherent optical data transmission modules.