NATURE’S SUNSHINE PRODUCTS, INC.
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
Renewable Energy Share:100% at manufacturing facility in 2022
ESG Focus Areas
- Sustainability
Environmental Achievements
- Achieved 100 percent renewable energy at our manufacturing facility during the year ended December 31, 2022
Social Achievements
- Annual scholarship program for multicultural students at the University of Utah in the amount of $0.2 million.
- Leadership development program designed to help employees develop leadership skills and obtain executive coaching over a three-year period.
- Competitive wage and benefits package building loyalty and engagement in Company performance.
- Hybrid work model that recognizes the evolving needs of workers and allows them to build a hybrid work schedule providing greater flexibility for their personal needs.
- A wellness rewards program that rewards healthy behaviors such as healthy eating, exercise, and wellness ambassadorship.
Governance Achievements
- Creation of a Compliance Committee of the Board of Directors in 2014 to oversee efforts with respect to operational compliance.
Climate Goals & Targets
Short-term Goals:
- 50 percent reduction of greenhouse gas emissions for Scope 1 & 2 by 2025
- Zero waste at all distribution centers by 2025
- 35 percent waste reduction at our owned manufacturing facility by 2025
Environmental Challenges
- Experienced complications in obtaining and maintaining adequate sources of raw materials supply during the years ended December 31, 2022 and 2021.
- Conflict between Russia and Ukraine negatively impacted operations in both countries and the region.
- High inflation and other difficult economic conditions.
- Ongoing coronavirus pandemic and the responses thereto around the world.
- Supply chain disruptions, manufacturing interruptions or delays, or the failure to accurately forecast customer demand.
Mitigation Strategies
- Attempt to ensure the availability of many of our raw materials by contracting, in advance, for our annual requirements.
- Recorded a pretax charge of $1.0 million, primarily related to the impairment of inventory due to the conflict in Ukraine.
- Monitoring the social, political, regulatory and economic environment in Ukraine and Russia, and will consider further actions as appropriate.
- Taking actions to mitigate the effects COVID-19 may have on our business
- Implementing stringent quality control procedures to verify that our contract manufacturers have complied with our specifications and standards.
Supply Chain Management
Responsible Procurement
- Collaborating with growers and suppliers that protect and care for the natural resources they farm and harvest along with the economic and social interests of their local communities.