Bowman Consulting Group Ltd. (the "Company" or "Bowman") (NASDAQ:BWMN), a national engineering services firm delivering infrastructure design solutions and project management services to customers who own, develop and maintain the built environment, today announced the completion and publication of its inaugural double materiality assessment. The assessment underscores the company's commitment to enhancing its sustainability, engagement and governance strategies and practices.
A double materiality assessment engages with stakeholders to determine the environmental, societal, and financial effects that risks and opportunities associated with sustainability and governance present to the company. Bowman's materiality assessment resulted in the identification of 13 key sustainability areas deemed material by stakeholders, either from an impact perspective, a financial perspective, or both. The results of this report can be found on the Sustainability page of Bowman's investor relations website.
"This initial assessment is a significant step in our journey as a socially engaged and sustainability conscious company," said Bruce Labovitz, chief financial officer and designated sustainability officer. "The assessment revealed insightful perspectives and highlighted critical areas where stakeholders believe our operations intersect with sustainability, social engagement, and financial exposures. From here, we will plan targeted strategies and impactful initiatives that address the identified sustainability topics, prioritizing those with high degrees of double materiality. We look forward to leveraging the insights from this report to direct our future efforts most effectively and transparently."
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is a national engineering services firm delivering infrastructure solutions to customers who own, develop, and maintain the built environment. With over 2,200 employees and more than 95 offices throughout the United States, Bowman provides a variety of planning, engineering, geospatial, construction management, commissioning, environmental consulting, land procurement, and other technical services to customers operating in a diverse set of regulated end markets. Bowman trades on the Nasdaq under the symbol BWMN. For more information, visit bowman.com or investors.bowman.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, business strategy and plans and objectives for future operations, are forward-looking statements and represent our views as of the date of this press release. The words "anticipate", "believe", "continue", "estimate", "expect", "intend", "may", "will", "goal" and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to several assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control that could affect our financial results. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the "Risk Factors" set forth in the Company's most recent SEC filings. Considering these risks, uncertainties and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in any forward-looking statements. Except as required by law, we are under no obligation to update these forward-looking statements after the date of this press release, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
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