ROCK HILL, S.C., Dec. 10, 2020 (GLOBE NEWSWIRE) --
ystems (NYSE:DDD) today announced the launch of its Environmental, Social & Governance (ESG) initiative – formalizing its commitment to taking action on global environmental, social, and health issues. This is a foundational element helping the company achieve its strategic purpose as the leaders in enabling additive manufacturing solutions for applications in growing markets that demand high-reliability products.
“3D Systems was founded on a spirit of innovation, and the work we do makes an impact on businesses, people’s lives and our environment,” said Dr. Jeffrey Graves, president, and CEO, 3D Systems. “With the launch of our ESG platform, we’re formalizing the commitment to the values and operating principles that have been part of the fabric of our company since its inception. We’re making an impact and proud to be part of a movement for change.”
The 3D Systems ESG initiative includes three areas which are core to the company’s daily operations:
Environmental Responsibility highlights the commitment to identifying and advocating for more sustainable options to reduce 3D Systems’ and its customers’ effect on the environment by replacing, optimizing, and creating processes that will help eliminate waste and reduce carbon emissions. Additive manufacturing plays a vital role in sustainability efforts through optimized part designs. For example, an airplane component can now weigh less yet perform more efficiently resulting in lowered fuel costs and environmental impact. Additionally, because additive manufacturing only uses the material needed to produce the final part, there is substantially less production waste than traditional manufacturing.
3D Systems has also undertaken efforts within the company to reduce its carbon footprint. In 2019, 3D Systems reduced its real estate assets by 10% resulting in lowering CO2 emissions by nearly 2.8 million pounds.1
Social Responsibility demonstrates an alliance with social causes and giving back to the communities where its employees live and work. 3D Systems’ efforts as the COVID-19 pandemic escalated showcased its desire to give back as the company issued a call to action to its customers and partners to share resources – producing and delivering much needed nasopharyngeal swabs, ventilator valves, and PPE.
This month, the company also launched the 3D Systems Gives Back global giving campaign. This platform allows 3D Systems employees, families, and friends to donate to charities that are providing much-needed assistance for the COVID-19 response, as well as those advancing efforts that target social justice and diversity.
Responsible Practices & Governance whereby the company holds itself accountable to ethical and responsible practices and policies, including those related to employee health and safety. For 3D Systems, conducting its business on a highly ethical level is at the core of its business principles. The company’s Code of Conduct sets the ethical and legal standards of behavior and business practices that are required of all its employees and those of its subsidiaries globally. As a result, 3D Systems requires all board members and employees to complete training and certify compliance with its Code annually.
3D Systems’ employees are vital to the organizations’ success, and their health and safety is the company’s number one priority. As a result, 3D Systems not only continues to invest in safety standards and wellness policies and programs, but the company also continues to exceed industry-wide safety targets. For example, in 2019 3D Systems reported an incident rate of 0.72 which is 76% lower than the additive manufacturing industry standard of 3.0.2
For more information on the company’s Environmental, Social & Governance initiative, please visit the ESG page of 3D Systems’ website.
1. Estimate derived from EPA Tool Estimates Greenhouse Gas Emissions of Commercial Buildings.
2. OSHA (Occupational Safety and Health Administration) defines a recordable incident (i.e. recordable injury and illness) as 1) any work-related fatality, 2) any work-related injury or illness that results in loss of consciousness, days away from work, restricted work, or transfer to another job, 3) any work-related injury or illness requiring medical treatment beyond first aid, or 4) any work-related diagnosed case of cancer, chronic irreversible diseases, fractured or cracked bones or teeth, and punctured eardrums. Total Recordable Incident Rate (TRIR) = # of injuries & illnesses x 200,000/# of hours worked by all employees. 3D Systems executed 4,981,368 work hours resulting in a OSHA Recordable TRIR of 0.72.
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as "believes," "belief," "expects," "may," "will," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise.
About 3D Systems
More than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading Additive Manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction - empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in Healthcare and Industrial markets such as Medical and Dental, Aerospace & Defense, Automotive, and Durable Goods. More information on the company is available at www.3dsystems.com.