UFP Technologies, Inc.

Climate Impact & Sustainability Data (2020)

Renewable Energy Share:11%

Newburyport, MA facility utilizes solar power to provide approximately 11% of its electricity, with plans to increase capacity in the future.
Clinton, IA and El Paso, TX operations are certified to ISO 14001, an international environmental standard.
Molded fiber packaging operation manufactures environmentally friendly and sustainable products made primarily from post-consumer newsprint and water.

Implemented safety measures in response to COVID-19 pandemic, including mandatory mask wearing, increased cleaning protocols, providing additional PPE, social distancing, and more.
Paid spot bonuses to essential employees during the COVID-19 pandemic.
Company strives to promote a workplace that is professional, provides opportunity for career growth and treats all workers with dignity and respect.

Executive level officer – Senior Vice President of Human Resources – reporting to the CEO, attending all board meetings, and having significant involvement with the board’s compensation committee.
Maintains a compliance hotline for confidential reporting of policy violations or unethical business conduct.
Regular third-party benchmarking surveys support compensation and benefits offerings.

Short-term Goals:

COVID-19 pandemic negatively impacted operating conditions, including decreased demand for products and increased manufacturing costs.
Dependence on a small number of customers for a large percentage of revenues.
Potential for undetected errors or defects in products.
Competition from smaller regional manufacturing companies and alternative materials.
Fluctuations in raw material costs, particularly petroleum-based materials.
Security breaches and cybersecurity incidents.
Potential infringement of intellectual property rights.
Fluctuations in the supply of components and raw materials.
Potential infringement of intellectual property rights of others.
Fluctuations in energy supplies and costs.

Initiated cost-cutting measures, including restrictions on travel and labor cost reduction measures.
Implemented safety measures to protect employees during the COVID-19 pandemic.
Continuous improvement initiatives to improve manufacturing efficiencies.
Diversification of markets to reduce exposure to industry downturns.
Security measures to safeguard systems and mitigate potential security risks.
Confidentiality agreements with suppliers, customers, and employees.
Strong relationships with suppliers to ensure reliable supply of raw materials.
Insurance coverage to compensate for losses incurred as a result of natural or other disasters.
Interest rate swap agreement to hedge against rising interest rates.

Frameworks Used: ISO 13485, ISO 14001, IATF 16949

Certifications: ISO 13485, ISO 14001