Teledyne Technologies Inc. has released its first Corporate Responsibility Report.
The Thousand Oaks aerospace, marine and digital imaging products manufacturer used the report to highlight products related to sustainability and its Environmental, Social and Governance (ESG) initiatives. The report also disclosed metrics regarding Teledyne’s greenhouse gas emissions, workplace safety and employee, management and board of directors’ diversity.
“Sustainability has been a core part of Teledyne’s corporate strategy and capital allocation for over two decades, starting in 2001 with the belief that demand for environmental monitoring instruments would outgrow general industrial process instrumentation,” Chief Executive Robert Mehrabian said in a statement.
Teledyne’s first three acquisitions in 2001 and 2002 were companies dedicated to analyzing trace contaminants in air and water, it said in a release.
“Today, Teledyne is a global leader in space-based sensing for earth science and carbon monitoring, ambient air quality monitoring, instrumentation for ocean science and climatology, and world-class products for sustainability, energy efficiency and human health,” Mehrabian added in his statement.
The report outlined the four core principles of Teledyne – integrity, or conducting the business in accordance with all applicable laws and regulations; respect, or treating all colleagues with dignity and striving to maintain a safe, fair and inclusive work environment; responsibility, or to grow and to protect Teledyne’s value by acting in the best interests of the company and its stockholders; and citizenship, or conducting the business in a manner consistent with the well-being of the communities in which it works.
The sustainability goals of Teledyne include developing a greenhouse gas monitoring/management plan, which involves addressing an inventory of equipment and processes. The company has set a goal of reducing its greenhouse gas emissions to 40 percent of what they were in 2020 by the end of the 2040 fiscal year.
Teledyne is also working on greenhouse gas reduction by changing employee behavior when it comes to commuting and business travel, according to the report.
“For example, certain Teledyne facilities have implemented programs to reduce mobile source emissions generated from employee commutes, including ride share programs, public transportation subsidies, electric vehicle charging stations and bicycle storage,” the report said.