Orion Energy Systems Releases Inaugural Environmental, Social and Governance (ESG) Report for its Fiscal Year 2022
MANITOWOC, Wis., June 14, 2022 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting and control systems, including turnkey project implementation, program management and system maintenance, announced it has released the company’s first annual Environmental, Social and Governance (ESG) report, highlighting progress in its FY 2022 year ended March 31, 2022. The report is now available on Orion’s website.
Orion’s ESG mission is to help its customers achieve their sustainability, energy savings, and carbon footprint reduction goals through innovative technology and exceptional service. Orion works to develop and install products that offer more light with less energy consumption.
Mike Altschaefl, Orion’s CEO, commented, “I am proud to introduce Orion Energy Systems’ debut review of our ESG priorities, goals and progress. While many of these concepts have been at the forefront of our business for many years, we recognized the need to provide our stakeholders with an annual review of our thinking and progress, which resulted in this report.
“A core value that drives our ESG thinking is a one team mentality – meaning Orion as a whole is just the collective sum of all of our employees and people. As a team, we embrace innovation and change that leverages the benefits of new technology to meet our customers’ evolving needs with enhanced efficiency, safety, and a reduced environmental impact.”
In FY 2022, Orion helped customers reduce their production of carbon dioxide by 240,627 tons through reduced electricity consumption enabled by the installation of Orion LED lighting systems. This carbon reduction is equivalent to the impact of planting 96,972 trees. Orion also recycled approximately 92% of the materials used in its manufacturing process.
The ESG report also highlights Orion’s commitment and investment in renewable energy. Orion currently produces 10% of its energy needs through onsite solar and wind turbine renewable energy sources.
In terms of social responsibility, in addition to the energy efficiency of Orion products, the report details some of the Company’s charitable and humanitarian work, as well as the promotion of active involvement in community and company-sponsored volunteer programs. Orion also encourages a work-life balance for employees, offers tuition reimbursement, and embraces a safety first mentality in the workplace that has resulted in no lost-time incidents in Orion facilities for more than five years.
The report also highlights Orion’s corporate governance principles with a commitment to best practices and diversity throughout the company, including in management positions and on the Board of Directors. Women currently make up 44% of Orion’s workforce, which is 14% more than the national average for manufacturing companies. The report concludes by citing several enhancements to the Company’s corporate governance policies enacted in FY 2022, related to executive compensation, severance pay and shareholder rights.
About Orion Energy Systems
Orion provides innovative LED lighting systems and turnkey project implementation including installation and commissioning of fixtures, controls and IoT systems, as well as ongoing system maintenance and program management. We help our customers achieve energy savings with healthy, safe and sustainable solutions, enabling them to reduce their carbon footprint and digitize their business.
Steve Paulus, Director, Marketing and Communications
Orion Energy Systems, Inc.
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