Sight Sciences Announces the Release of its First Sustainability Report

Rhea-AI Summary

Sight Sciences (Nasdaq: SGHT) has released its first Sustainability Report, detailing its environmental, social, and governance (ESG) initiatives from 2021 to 2023. The report emphasizes the company's commitment to reducing its environmental footprint through energy efficiency and waste reduction, supporting community engagement, diversity, and employee well-being, and maintaining a strong governance framework with ethical standards and transparency. Key highlights include supporting 25 indigent care programs in over 10 countries, employing 214 people worldwide with nearly 50% women, and launching a Women in Leadership initiative. Furthermore, the company reduced its air freight shipments in 2023 to lessen environmental impact and adopted a Stock Ownership Policy to align executive and director interests with those of shareholders. The full report can be accessed on the company's website.

Positive

• Released first Sustainability Report covering 2021-2023.
• Supported 25 indigent care programs in over 10 countries.
• Employed 214 people worldwide as of December 31, 2023, nearly 50% women.
• Launched a Women in Leadership initiative in 2023.
• Four of eight board members are women as of December 31, 2023.
• Committed to at least 40% female representation on the board.
• Reduced use of weekly air freight shipments in Q1 2023, consolidating to fewer sea freight shipments.
• Adopted a Stock Ownership Policy to align executive interests with shareholders.

Negative

• No detailed financial data or impact on revenue or profitability provided in the report.
• Potential increased costs associated with implementing and maintaining sustainability initiatives.
• Early stages of sustainability journey may imply future challenges in achieving set goals.

The Sustainability Report provides data for 2021 through 2023 on the Company’s environmental, social, and governance initiatives

MENLO PARK, Calif., June 10, 2024 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) (“Sight Sciences,” or the “Company”), an eyecare technology company focused on developing and commercializing innovative, interventional technologies that elevate the standard of care, announced today that it has published its first Sustainability Report, highlighting the Company’s sustainability activities, performance, and results from the last three years.

“We are proud to issue our first annual Sustainability Report, showing our commitment to corporate sustainability initiatives and enhanced disclosures,” stated Paul Badawi, co-founder and Chief Executive Officer of Sight Sciences. He continued, “While we are still early in our sustainability journey, we believe it is important to embrace sustainable, responsible business practices as we deliver on our mission to develop transformative, interventional technologies that allow eyecare providers to procedurally elevate the standards of care – empowering people to keep seeing.”

The Sustainability Report includes:

Environmental Initiatives: Details of Sight Sciences’ efforts to reduce its environmental footprint through energy efficiency, waste reduction, and sustainable practices, including reporting on our supplier standards and ethical research and development measures.

Social Responsibility: Insights into Sight Sciences’ initiatives to support community engagement, diversity, equity, and inclusion, and employee well-being, including reporting on employee diversity and equity measures, health and safety measures, and voluntary employee turnover.

Governance Practices: Disclosure of Sight Sciences’ governance framework, ethical standards, and commitment to transparency and accountability, including reporting on information security breaches.   

Key Highlights from the Sustainability Report:

• From 2021 through 2023, we supported 25 indigent care programs in over 10 countries.
• As of December 31, 2023, we employed 214 people worldwide, with nearly 50% of our workforce comprised of women.
• In 2023, we launched a Women in Leadership initiative to encourage, support, and empower women to take on leadership roles.
• As of December 31, 2023, four of our eight board members are women, and we are committed to having no less than 40% female representation on the board.
• We have adopted a Stock Ownership Policy applicable to our executive officers and non-employee directors that is intended to align the interests of our executive officers and directors with those of our stockholders.
• To reduce our impact on the environment, in the first quarter of 2023 we reduced our use of weekly air freight shipments and consolidated shipping to fewer monthly or bimonthly shipments using sea freight.

For additional information and highlights, please see the full Sustainability Report, which can be found here. All Environmental, Social, and Governance (“ESG”) practices are overseen by the Company’s Nominating and Corporate Governance committee.

About Sight Sciences

Sight Sciences is an eyecare technology company focused on developing and commercializing innovative and interventional solutions intended to transform care and improve patients’ lives. Using minimally invasive or non-invasive approaches to target the underlying causes of the world’s most prevalent eye diseases, Sight Sciences seeks to create more effective treatment paradigms that enhance patient care and supplant conventional outdated approaches. Glaucoma is the world’s leading cause of irreversible blindness, and the Company’s OMNI^® Surgical System is an implant-free glaucoma surgery technology (i) indicated in the United States to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and (ii) CE-marked for the catheterization and transluminal viscodilation of Schlemm’s canal and cutting of the trabecular meshwork to reduce intraocular pressure in adult patients with open-angle glaucoma. The SION^® Surgical Instrument is a bladeless, manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork. The Company’s TearCare^® System is 510(k) cleared in the United States for the application of localized heat therapy in adult patients with evaporative dry eye disease due to meibomian gland dysfunction (“MGD”), when used in conjunction with manual expression of the meibomian glands, enabling clearance of gland obstructions by physicians to address the leading cause of dry eye disease. Visit www.sightsciences.com for more information.

Sight Sciences and TearCare are trademarks of Sight Sciences registered in the United States. OMNI and SION are trademarks of Sight Sciences registered in the United States, European Union and other territories.

© 2024 Sight Sciences. All rights reserved.

Media contact:
pr@SightSciences.com

Investor contact:
Philip Taylor
Gilmartin Group
415.937.5406
Investor.Relations@Sightsciences.com

FAQ

What did Sight Sciences report in its Sustainability Report 2021-2023?

The report highlights Sight Sciences' environmental footprint reduction, social responsibility initiatives, and governance practices from 2021 to 2023, including supporting 25 indigent care programs, employing 214 people with nearly 50% women, and launching a Women in Leadership initiative.

When did Sight Sciences reduce its air freight shipments?

Sight Sciences reduced its air freight shipments and consolidated to fewer sea freight shipments in the first quarter of 2023.

How many women are on the Sight Sciences board as of December 31, 2023?

As of December 31, 2023, four of the eight board members at Sight Sciences are women.

What is Sight Sciences' commitment to board diversity?

Sight Sciences is committed to having no less than 40% female representation on its board.

What stock ticker symbol does Sight Sciences trade under?

Sight Sciences trades under the stock ticker symbol SGHT on Nasdaq.