Caesarstone Publishes Inaugural Global ESG Report
October 18, 2021 at 07:00 AM EDT
- Establishes ESG vision and framework to create a more sustainable future and safe working environment for all stakeholders -
Caesarstone Ltd. (NASDAQ: CSTE), a leading developer and manufacturer of high-quality engineered surfaces, today announced that the Company has published its inaugural Environmental, Social, Governance (“ESG”) Report.
“At Caesarstone, we are committed to sustainability through continued innovation of our products and greener production processes while remaining focused on a value chain built on environmental, health, and safety practices,” said Yuval Dagim, Chief Executive Officer. “We are happy with our ESG accomplishments to-date and are pleased to have built the framework to accomplish our new ESG goals and help create a more sustainable future for our Company. We believe our success is directly related to how well we take care of our clients, our employees, and our communities and we look forward to position Caesarstone for enhanced long-term value creation.”
Caesarstone prepared its 2020 ESG Report with a framework that relied on Global Reporting Initiative (“GRI”) standards, aspects of the Sustainability Accounting Standards Board (“SASB”) and the United Nations Sustainable Development Goals (“UN SDGs”). Specifically, Caesarstone has aligned with 5 of the 17 UN SDGs focused on: Climate Action; Good Health and Well-Being; Decent Work and Economic Growth; Industry, Innovation & Infrastructure; and Responsible Consumption and Production.
Based on the evaluation, Caesarstone established sustainability goals centered around the following core areas: sustainable products; environmentally responsible production; health and safety; and social responsibility.
In addition to the ESG goals that Caesarstone establishes in its 2020 ESG Report, portions of the Company’s ESG report are also intended to address the actions Caesarstone has taken and continues to take to support its employees and communities in response to the global COVID-19 pandemic. In a year of unprecedented challenges, Caesarstone recognizes that proactive incorporation of ESG considerations provides opportunities to strengthen the Company.
The inaugural voluntary global ESG report is an important milestone exhibiting Caesarstone’s efforts to serve its customers, employees and stockholders. As Caesarstone looks to the future, the Company remains committed to publishing the progress of its ESG priorities through successive ESG reports.
Caesarstone’s 2020 Global ESG Report is available on the company’s websites at http://ir.caesarstone.com/ESG.
Caesarstone is a concept and lifestyle-driven company with a customer-centered approach to designing, developing, and producing high-end engineered stone countertops, used in residential and commercial buildings. Our products offer superior aesthetic appeal and perfected functionality through a distinct variety of colors, styles, textures, and finishes used in diverse countertop applications, marked by inherent longevity. Strong commitment to service has fostered growing customer loyalty in over 50 countries where the Caesarstone product collections are available: Classico, Supernatural, Metropolitan and Outdoor. For more information please visit our website: www.caesarstone.com.
Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as ”goals”,“intend,” “seek,” “anticipate,” “believe,” “could,” “continue,” “expect,” “estimate,” “may,” “plan,” “outlook,” “future” and “project” and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward looking statements include statements regarding the Company’s sustainability goals and plans, intentions, expectations, assumptions, goals and beliefs regarding the Company’s business and sustainability vision. These forward-looking statements also may relate to the Company's plans, objectives and expectations for future operations, including estimations relating to the impact of the COVID-19 pandemic and mitigation measures in connection thereto, and expectations of the results of the Company’s business optimization initiatives. These forward-looking statements are based upon management's current estimates and projections of future results or trends. Actual results may differ materially from those projected as a result of certain risks and uncertainties, both known or unknown. These factors include, but are not limited to: the impact of the COVID-19 pandemic on end-consumers, the global economy and the Company’s business and results of operations; raw material shortages and prices and effects of challenges in global shipping; the ability of the company to realign aspects of its business based on the business optimization initiatives, the strength of the home renovation and construction sectors; intense competitive pressures; the extent of the Company’s ability to meet its ESG goals and targets, including the extent of the Company’s ability to maintain a healthy and safe environment for the Company’s employees; management of GHG and silica emissions; the degree of the Company’s ability to develop, produce and deliver high quality and safe products; the Company’s ability to effectively manage changes in its production and supply chain; the extent of the Company’s ability to build-out and expand into certain markets; the Company’s ability to effective manage its relationship with suppliers; the outcome of silicosis and other bodily injury claims; regulatory requirements relating to hazards associated with exposure to silica dust; efficiently manufacturing our products and managing changes in production and supply chain; economic conditions within any of our key existing markets; changes in raw material prices; fluctuations in currency exchange rates; the success of our expansion efforts in the United States; the unpredictability of seasonal fluctuations in revenues; disturbances to the Company’s operations or the operations of its suppliers, distributors, customers or other third parties and other factors, risks and uncertainties discussed under the sections "Risk Factors" and “Special Note Regarding Forward-Looking Statements and Risk Factor Summary” in our most recent annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on March 22, 2021 and in other documents filed by Caesarstone with the SEC, which are available free of charge at www.sec.gov. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.