Lumentum Holdings Inc. (Lumentum HOL) is a leading provider of optical and photonics products for a wide range of industries, including telecommunications, data center, and industrial markets. The company is headquartered in San Jose, California, and has operations in more than 20 countries worldwide. Lumentum HOL is committed to sustainability and has implemented several initiatives to reduce its carbon footprint, including decarbonisation, corporate energy, corporate power purchase agreements (PPAs), and renewable energy.
Decarbonisation is a key focus area for Lumentum HOL. The company has set a goal to reduce its greenhouse gas emissions by 50% by 2030, compared to its 2019 baseline. To achieve this goal, Lumentum HOL is implementing several measures, including energy efficiency improvements, the use of renewable energy, and the electrification of its fleet. The company is also exploring the use of carbon capture and storage technologies to further reduce its emissions.
Corporate energy is another area of focus for Lumentum HOL. The company is committed to reducing its energy consumption and increasing its use of renewable energy sources. Lumentum HOL has implemented several energy efficiency measures, such as the installation of LED lighting and the optimization of its manufacturing processes. The company is also investing in renewable energy projects, such as solar and wind power, to reduce its reliance on fossil fuels.
Corporate power purchase agreements (PPAs) are a key strategy for Lumentum HOL to increase its use of renewable energy. PPAs are long-term contracts between a company and a renewable energy provider, where the company agrees to purchase a certain amount of renewable energy at a fixed price. Lumentum HOL has signed several PPAs with renewable energy providers, which will enable the company to source a significant portion of its energy from renewable sources.
Renewable energy is a core component of Lumentum HOL's sustainability strategy. The company is committed to increasing its use of renewable energy sources, such as solar and wind power, to reduce its carbon footprint. Lumentum HOL has invested in several renewable energy projects, including the construction of a solar power plant in Arizona, which will provide the company with a significant portion of its energy needs. The company is also exploring the use of other renewable energy sources, such as geothermal and biomass, to further reduce its reliance on fossil fuels.
In addition to its sustainability initiatives, Lumentum HOL is also committed to corporate social responsibility (CSR). The company has implemented several CSR programs, including employee volunteerism, charitable giving, and community outreach. Lumentum HOL encourages its employees to volunteer their time and skills to support local communities and charitable organizations. The company also supports several educational initiatives, such as STEM education programs, to promote the development of future leaders in the fields of science, technology, engineering, and math.
Lumentum HOL's commitment to sustainability and CSR has been recognized by several organizations. The company has been named to the Dow Jones Sustainability Index (DJSI) North America for five consecutive years, which recognizes companies that demonstrate leadership in sustainability. Lumentum HOL has also been recognized by the Carbon Disclosure Project (CDP) for its efforts to reduce its carbon footprint and increase its use of renewable energy.
In conclusion, Lumentum Holdings Inc. is a leading provider of optical and photonics products that is committed to sustainability and corporate social responsibility. The company has implemented several initiatives to reduce its carbon footprint, including decarbonisation, corporate energy, corporate PPAs, and renewable energy. Lumentum HOL's sustainability and CSR efforts have been recognized by several organizations, which demonstrates the company's leadership in these areas.