Lumentum Releases Fiscal 2024 Corporate Sustainability Report

November 04, 2024 at 09:15 AM EST

Achieved 38% Year-over-Year Emissions Reduction, Expanded Renewable Energy Use, Earned New ISO 14001 and 45001 Certifications, and Improved Efficiency Across Processes and Products

Lumentum Holdings Inc. ("Lumentum"), a market-leading designer and manufacturer of innovative optical and photonic products, today announced publication of its fourth annual Fiscal 2024 Corporate Sustainability Report, showcasing the company's environmental, social, and governance achievements.

Highlights from the report include:

Planet – Continued Momentum and Expansion of Climate Change Initiatives

Lumentum made notable advances over the past fiscal year toward achieving net-zero Scope 1 and Scope 2 emissions by 2030. Additionally, the company expanded its commitment to reduce Scope 3 emissions by submitting targets to the Science-Based Targets initiative (SBTi).

Accomplishments in Fiscal 2024 included:

Reduced Scope 1 and Scope 2 greenhouse gas emissions by 38% compared to Fiscal 2023, despite a new company acquisition.
Increased procurement of renewable electricity to 79%, up from 61% in the previous fiscal year.
Transitioned three more sites to 100% renewable electricity, bringing the total to 14 sites.
Began solar power generation at two major sites: Navanakorn, Thailand and San Jose, California, USA.
Expanded its ISO 14001 certification to three additional manufacturing sites, increasing the total number of certified sites to eight.

People – Focus on Career Development, Inclusion, and Health and Safety

Lumentum invests in its people by encouraging and supporting professional development, fostering an inclusive culture, and ensuring a safe working environment.

Some Fiscal 2024 highlights include:

Engaged nearly 250 participants in its employee mentorship program.
Awarded 20 scholarships to underrepresented minority student interns in the U.S. and Canada.
Supported more than 230 employees globally through leadership certificate programs.
Expanded ISO 45001 certification to three additional manufacturing sites, increasing the total number of certified sites to eight.

Innovation – Efficiency and Performance Gains Across Products

Lumentum pushes the boundaries of innovation, continually improving products and processes to deliver exceptional value to customers while upholding the highest standards of quality, safety, and efficiency.

Fiscal 2024 saw the implementation of new product innovations and processes, including:

Integrated product design Kaizen events early in the New Product Introduction (NPI) cycle, improving product and process designs across multiple sites.
Reduced power consumption (power per Terahertz) by 45% in the TrueFlex® Twin 16X24 wavelength selective switch (WSS) product, while still achieving double the switching capacity in optical networks.
Reduced power consumption of 200G PAM4 externally modulated lasers (EMLs) by 77% per Gbps of optical bandwidth compared to the previous generation of 100G EMLs.
Filed over 280 new patent applications.

“I am proud of the sustainability progress we have made this past year—from achieving a 38% reduction in emissions to adding solar power generation at two major sites and improving the efficiency of our product and process designs through Kaizen activities,” said Alan Lowe, president and CEO at Lumentum. “These milestones reflect the dedication of our global team, who continually push boundaries to meet the highest standards of environmental stewardship. But our journey is far from over. With ambitious targets recently submitted to the Science-Based Targets initiative, we are committed to continuously raising the bar and driving sustainable growth, which is important to our customers, employees, and communities. Together, we are creating a brighter, more sustainable future.”

Additional highlights can be found in the Fiscal 2024 Corporate Sustainability Report, along with detailed data and activities from the fiscal year, which ended June 29, 2024. 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, Facebook, Instagram and YouTube.