Meets key environmental milestone ahead of schedule
PLANO, Texas, Aug. 12, 2024 /PRNewswire/ -- Ribbon Communications Inc. (NASDAQ:RBBN), a global provider of real time communications technology and IP optical networking solutions to many of the world's largest service providers, enterprises, and critical infrastructure operators to modernize and protect their networks, today released its 2023 sustainability report. The report highlights Ribbon's continued efforts in achieving its sustainability initiatives, and its success in delivering enhanced access, connectivity, and network security to customers in more than 140 countries.
"Customers are increasingly taking ESG objectives, which include social, compliance and environmental factors, into consideration when making purchasing decisions," said Patrick Macken, CLO and EVP, Ribbon. "I'm proud of the work the team has done to make improvements in several areas, many of which also positively impact our operational expenses."
Ribbon was able to achieve its emissions reduction target seven years early, facilitated by a deliberate 26% cut in electricity consumption over six years and boosting its renewable electricity consumption to 10% of total electricity use.
As always, the company reported on the latest status of its 'Three by 30' targets:
- Reduce direct carbon emissions by 30% by 2030 (Scope 1+2 CO2e, from a base year of 2018)
- 33% reduction in Scope 1+2 CO2e emissions compared to 2018.
- Increase women in management to 30% of all management roles to be held by women by 2025
- 17% of management roles were held by women in 2023.
- Achieve 30% of our Tier 1 suppliers audited with zero major non-conformances against Ribbon's Supplier Audit Protocol by 2025.
- 21% of our Tier 1 suppliers were audited against our Supplier Code of Conduct in 2023 by independent external auditors.
"We are making good progress towards our 'Three by 30' targets although more progress is needed against our diversity goals. Last year, 26% of our new hires were women, including Chief Marketing Officer Joni Roberts, and we promoted a number of women into management or into higher positions within management," Mr. Macken added. "We continue to work on accelerating our velocity in hiring more women and elevating them into leadership positions."
About Ribbon
Ribbon Communications (NASDAQ:RBBN) delivers communications software, IP and optical networking solutions to service providers, enterprises and critical infrastructure sectors globally. We engage deeply with our customers, helping them modernize their networks for improved competitive positioning and business outcomes in today's smart, always-on and data-hungry world. Our innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, and agility, including core to edge software-centric solutions, cloud-native offers, leading-edge security and analytics tools, along with IP and optical networking solutions for 5G. We maintain a keen focus on our commitments to Environmental, Social and Governance (ESG) matters, offering an annual Sustainability Report to our stakeholders. To learn more about Ribbon, please visit rbbn.com.
Important Information Regarding Forward-Looking Statements
The information in this release contains forward-looking statements regarding future events that involve risks and uncertainties. All statements other than statements of historical facts contained in this release, including those regarding the expected benefits from use of Ribbon Communication's products, are forward-looking statements. The actual results of Ribbon Communications may differ materially from those contemplated by the forward-looking statements. For further information regarding risks and uncertainties associated with Ribbon Communications' business, please refer to the "Risk Factors" section of Ribbon Communications' most recent annual or quarterly report filed with the SEC. Any forward-looking statements represent Ribbon Communications' views only as of the date on which such statement is made and should not be relied upon as representing Ribbon Communications' views as of any subsequent date. While Ribbon Communications may elect to update forward-looking statements at some point, Ribbon Communications specifically disclaims any obligation to do so.
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SOURCE Ribbon Communications Inc.