Stratasys Showcases Commitment to Sustainability
Stratasys Ltd. (NASDAQ: SSYS), a leader in additive manufacturing, has proudly unveiled its third Mindful Manufacturing™ ESG (Environmental, Social, and Governance) and Sustainability Report. This comprehensive report is crafted according to the Global Reporting Initiative (GRI) and incorporates elements of the SASB (Sustainability Accounting Standards Board) standards. It illustrates Stratasys's deep commitment to excellence in environmental sustainability, social responsibility, and governance practices.
Pioneering Carbon Reduction Initiatives
In line with its Mindful Manufacturing™ approach, the company has launched a series of innovative carbon reduction initiatives that span its product offerings and supply chain. These initiatives are designed to enable customers to leverage Additive Manufacturing (AM) in achieving more carbon-efficient production methods, furthering their operational effectiveness while meeting critical environmental goals.
Highlights of the ESG Report
Stratasys's ESG report emphasizes key achievements in various categories:
Environmental Initiatives
- Consumption of 778,365 kWh of renewable energy, preventing 554 tons of CO2-e emissions, equivalent to planting approximately 8,991 trees.
- A noteworthy 11.7% reduction in water use intensity.
- 15.5% drop in GHG emissions intensity.
- Launch of the Certified Pre-Owned (CPO) printer program aimed at refurbishing and reselling used printers.
- ISO 14001 Environmental Management Certification recertified in one region and expanded to others.
- Conducted a thorough Life Cycle Inventory of the PolyJet™ technology.
- Achieved a commendable 90% data coverage for significant environmental metrics.
- Reused 590 tons of used products and components through Recycling & Returns programs.
Social Responsibility Initiatives
- Introduction of an Equal Parent Policy encouraging parental leave for all employees, resulting in a 17% increase in those taking leave.
- Maintaining a high employee engagement survey score of 73.
- Four key performance indicators emphasizing diverse hiring procedures.
- A total recordable incident rate (TRIR) of 0.64, representing a 37% improvement.
- Establishment of the Strategic Industrial Customer Advisory Board to foster industry collaboration.
- 33,713 training hours provided, averaging 16.5 hours per employee, focusing on both professional and personal development.
Governance and Compliance
- No recorded incidents of corruption.
- No confirmed data breaches.
- No violations of product health and safety regulations.
Leadership Appointment to Enhance ESG Strategy
Today, Stratasys announced the appointment of S. Scott Crump, a long-time Director and innovative co-founder, as the company’s ESG & Climate Champion. Crump commented, "I am honored to bring over 35 years of innovation to a space where additive manufacturing drives sustainable production. We empower our customers to scale this technology, making positive impacts on the environment and their operations. I look forward to accelerating research and development for a carbon-conscious offering alongside the team at Stratasys."
Innovative Solutions for Sustainable Manufacturing
Among the recent innovations, the SAF ReLife™ solution stands out. This system cleverly repurposes waste PA12 powder from powder bed fusion printers, transforming it into high-quality production components. This initiative not only reduces waste but also can lead to cutting manufacturing costs and significantly lowering the carbon footprint by as much as 89%.
Furthermore, Stratasys's GrabCAD Print software now incorporates emissions estimation features, currently available for FDM technology. This allows users to calculate and track carbon emissions for each part and build, paving the way for more informed choices in their manufacturing processes.
Looking Towards the Future
Stratasys is positioned at the forefront of delivering meaningful decarbonization solutions during a pivotal moment for the manufacturing industry. As customers navigate the complexities of global supply chains and emphasize localized, adaptable production to tackle climate issues, Stratasys’s Mindful Manufacturing™ strategy proves to be a significant driver of change. Rosa Coblens, Vice President of Sustainability, remarked, "Our collaboration with employees and industry partners fosters sustainable innovations that prepare businesses for future environmental challenges and help them achieve their sustainability goals."
They are currently advancing a thorough carbon footprint mapping process that encompasses both upstream and downstream operations, including assessments of greenhouse gas emissions from suppliers to customers.
About Stratasys
Stratasys stands at the forefront of the additive manufacturing revolution, offering innovative 3D printing solutions across various industries such as aerospace, automotive, consumer products, and healthcare. With a focus on smart, connected devices, polymer materials, and an extensive software ecosystem, Stratasys empowers its clients with competitive advantages throughout the product lifecycle, helping them enhance their designs, streamline production, and improve service delivery in health care.
Frequently Asked Questions
What does the ESG report from Stratasys cover?
The ESG report highlights Stratasys's commitments and achievements in environmental, social, and governance practices, showcasing sustainable efforts in additive manufacturing.
How does Stratasys contribute to environmental sustainability?
Stratasys implements various initiatives, including renewable energy use, waste repurposing technologies, and carbon emissions tracking to promote sustainability.
Who is S. Scott Crump?
S. Scott Crump is the co-founder of Stratasys and the newly appointed ESG & Climate Champion, bringing decades of innovation experience to the company's sustainability efforts.
What recent innovations has Stratasys introduced?
Stratasys unveiled products like the SAF ReLife™ solution and enhanced software capabilities for emissions estimation, focusing on minimizing environmental impact.
How can companies benefit from Stratasys's sustainability initiatives?
Companies can leverage Stratasys's technologies to achieve more efficient, environmentally friendly production methods that align with growing sustainability goals.
