Digimarc is committed to sustainable value creation, transparency, and alignment with Environmental, Social, and Governance (ESG) best practices. As such, we've invested in ESG as a core component of our company’s strategy.
I am incredibly proud that yesterday, we published our inaugural ESG Impact Report for 2021. This sets the baseline for Digimarc’s ESG strategy going forward and presents our program in line with standards set by the Sustainability Accounting Standards Board (SASB). The report is our central resource for detailed information on our ESG outcomes, as well as our approach and philosophy, which is based on the idea of dynamic materiality – we consider material ESG topics along two dimensions, impacts inward and impacts outward. And we recognize that potentially rapid shifts in the industry landscape and beyond mean that we need to be aware of how our impacts change over time and re-evaluate materiality constantly.
This philosophy supports our ability to create long-term sustainable value. For us, ESG isn’t just about doing less harm. By illuminating the journey our customers’ products embark on every day – from production to consumption and end of life – we can provide the trusted intelligence necessary to help solve complex societal challenges. We’ve been tapped to do just this for more than 20 years as a company trusted to deter digital counterfeiting and protect public confidence in global currency. In many ways, ESG is our core business.
Our report also outlines our ESG Framework, which captures our most material impact areas across People, Product, and Planet, supported by a strong Governance foundation. We use this Framework to help prioritize ESG topics, set goals and define strategies, and communicate our impacts to stakeholders.
For every material ESG Impact, we have implemented a governance structure that emphasizes integration. We assign accountability for each topic to Impact Owners, who are members of executive leadership, and day-to-day responsibility to Impact Managers, who are subject-matter experts throughout the organization. Our Governance, Nominating, and Sustainability Committee of the Board of Directors is highly engaged and charged with oversight of our overall ESG strategy.
Digimarc is still at the beginning of our ESG journey, but we have big ambitions. That’s why 2022 is a year focused on baselining, strategy building, and goal setting. Our goals include setting targets and strategies across People, Product, and Planet, improving transparency by continuing to improve our ESG data collection and tools, and further formalizing alignment with the United Nations Sustainable Development Goals (SDGs) and Task Force on Climate-Related Financial Disclosures (TCFD).
I hope readers of the report find value in learning about the ways in which Digimarc is mitigating material risks and creating enduring value for our stakeholders.
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