Avnet (NASDAQ: AVT), a leading global technology solutions provider, is continuing its year-long celebration to mark its 100th anniversary. Avnet is committed to working alongside its customers, suppliers, and employees to create a better world. This commitment, which is fundamental to Avnet's business operations, is fully reflected in its latest Corporate Sustainability Report, along with the company's ESG (Environmental, Social, and Governance) strategy. To celebrate the centennial, Avnet will also launch a new employee giving initiative,
"100 Acts of Giving,"
to recognize and reward employees for their philanthropic efforts. Additionally, Avnet will publish a series of articles highlighting how customers are using technology innovation to make the world a better place.
Phil Gallagher, CEO of Avnet, said:
Avnet is marching towards its second century of business. Our central position across the entire technology value chain has underpinned our extraordinary success over the past century. Over time, Avnet has continuously adapted its positioning to meet market needs. One of the keys to our continued success is the strong partnerships we forge with all our stakeholders. Avnet not only meets their business needs, but also consistently does what's right. Resilience and sustainable development have been the cornerstones of Avnet's business over the past 100 years. We are proud that the work we do makes the world a better place.
Highlights of the Sustainability Report
As part of its ongoing ESG initiative, Avnet has released its latest Sustainability Report, highlighting the company's sustainability efforts in fiscal years 2019 and 2020. Building on significant research conducted by Avnet in early 2020, the report outlines the company's strategy and key areas of focus. The report also includes letters from the CEO and Chairman of the Board detailing the company's response to the COVID-19 pandemic and includes comprehensive sections on people and communities, the environment, and corporate governance. It also outlines Avnet's support for the United Nations Sustainable Development Goals, the Global Reporting Initiative (GRI), and the Sustainability Accounting Standards Board (SASB).
Highlights of the report include:
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The five highest-ranking topics in Avnet's materiality assessment are: ethics and compliance, occupational health and safety, climate, diversity and inclusion, and performance.
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Avnet's diversity and inclusion strategy will encompass five key areas: listening and learning, policy and practice, education and advocacy, community and partnerships, and business commitment.
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Avnet's response to the COVID-19 pandemic includes: taking immediate measures to protect the health and safety of all employees worldwide; working closely with customers to resolve complex supply chain issues so they can deliver urgently needed medical equipment quickly and smoothly; and supporting employees to contribute to their local communities.
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Avnet's future focus on environmental sustainability will be to integrate carbon footprint and waste emissions, and to reflect our waste and water treatment in the report.
Scan the QR code below to read the full Avnet Corporate Sustainability Report.
Technological change is significant
Technological innovation is an inevitable choice. When such innovation has a positive impact on the world, the business a company conducts goes beyond simple commercial transactions. Avnet is proud to help our clients achieve significant success in the field of technology for good:
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Happiest Baby provides the SNOO Smart Sleeper to families worldwide. The U.S. Food and Drug Administration (FDA) has expedited the product's approval by designating the SNOO Smart Sleeper under its Breakthrough Devices Program. The SNOO Smart Sleeper is a lifesaving medical device that reduces the risk of sudden infant death syndrome (SIDS) and sudden unexpected infant death (SUID). Avnet provides comprehensive services for the SNOO Smart Sleeper, including production, assembly, integration, packaging, distribution, and storage.
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SynPhNe is being called a disruptor in the stroke rehabilitation market. It treats cognitive impairment and physical disabilities through a single system, enabling self-management. This wearable device captures minute brain and muscle signals, enabling patients to correct their movements in real time. Avnet, leveraging its expertise in wearables and electronic devices, accelerated the manufacturability verification of the product prototype.
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Tiptap developed a fixed-amount, standalone contactless payment acceptor that helps nonprofit organizations securely accept donations. Nonprofits simply open the acceptor to receive donations. Avnet supported Tiptap with product engineering, component selection and supply, and distribution.
We’ll be
publishing use cases from these companies on
www.centennialcentral.com
in the coming months, so stay tuned.
For over a century, Avnet has been committed to working with its partners to create a better world, and its employees have made positive contributions to their communities. Avnet Cares, Avnet's employee volunteer program, embodies the company's culture of giving. Avnet employees are also known for giving back to their communities, and on the company's 100th anniversary, Avnet celebrates their contributions through the "100 Acts of Giving" campaign.
Avnet will donate $100,000 USD ($1,000 USD per organization) to 100 qualified nonprofits and NGOs worldwide over the coming months. These 100 nonprofits will be selected based on volunteer stories shared by Avnet employees. The eligible nonprofits featured in these stories will receive donations during Avnet's Centennial celebration. These stories will be shared on our Centennial Central website and in our next sustainability report.
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