Nova Ltd.
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Governance
- People and Social Impact
- Innovation
- Environment and Supply Chain
Environmental Achievements
- Implemented energy-efficient practices in key sites (LED lighting, temperature controls, etc.)
- Implemented a ‘3 RRR’ (Reduce, Reuse and Recycle) program to manage waste in offices.
- Achieved ISO 14001 and ISO 45001 certifications in numerous sites.
Social Achievements
- Established Employee Resource Groups (ERGs) for women and disability services.
- Increased global gender representation of women (specific percentage not provided but with a target of 30-40% by 2027).
- Expanded community impact through charitable donations and volunteering programs (ELEM partnership).
Governance Achievements
- Established a Nominating, Governance, and Sustainability Committee.
- Implemented a company-wide Code of Conduct and related policies (insider trading, anti-bribery, etc.).
- Enhanced cybersecurity and IP protection measures.
Climate Goals & Targets
Long-term Goals:
- Reduce GHG impact per tool (long-term plan)
- Reduce environmental footprint; map and calculate scope 1-2 GHG emissions inventory and baselines in designated sites in 2023 and establish long-term goals for improvement.
Medium-term Goals:
- Increase global gender representation of women to 30-40% by 2027.
- Establish a strategic long-term plan to grow workforce diversity by 2027.
- Achieve 50%-70% renewable energy in designated sites (long-term plan).
Short-term Goals:
- Develop and publish a company-wide Data Privacy Policy by end of 2023.
- Implement accessible work environment according to local regulations by end of 2024.
- Implement EHS system across all production sites by 2024.
Environmental Challenges
- Global supply chain disruptions
- Growing challenges related to global trade compliance (China-US trade conflict).
Mitigation Strategies
- Implemented efficient processes with vendors to manage supply chain challenges.
- Engaged external specialists to advise on trade policy and obligations.
Supply Chain Management
Responsible Procurement
- Responsible Business Alliance (RBA) Code of Conduct
- ESG related indicators incorporated into supplier qualification and performance scorecards.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI, SASB, UN SDGs
Certifications: ISO 14001, ISO 45001
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Governance
- People and Social Impact
- Innovative Approach
- Environment and Supply Chain
Climate Goals & Targets
Environmental Challenges
- Supply chain difficulties
- Increased information technology security threats and sophisticated computer crime
- Foreign political and economic risks
- Regulations that could restrict operations (economic sanctions and export restrictions)
- Changes in U.S. trade policies
- Indirect effects of the Russia-Ukraine conflict
- Market instability (inflation and recessionary pressures)
- Risks related to doing business with China
- Catastrophic events (e.g., COVID-19)
- Inability to protect intellectual property
- Open source technology exposure
- Failure to compete effectively or respond to rapid technological changes
- Consolidation in the industry
- Difficulty in predicting market downturns/expansions
- Factors affecting pricing and demand
- Dependency on a small number of large customers
- Dependency on a single manufacturing facility per product line
- Dependency on a limited number of suppliers
- Difficulty in integrating acquisitions
- Lengthy sales cycle and customer order delays
- Political, economic, and military instability in Israel
- Risks related to convertible notes
- Currency fluctuations
- Quarterly fluctuations in operating results
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI, SASB, UN SDGs