For many years, Raven has taken the initiative to assure our corporate behavior is environmentally, socially, and governance conscious. As we make future progress towards creating a positive and lasting impact on the world, Raven will continue its commitment to being environmentally and socially responsible while upholding strong governance and ethical corporate conduct.
We are committed to protecting Earth’s resources through our operations and products to ensure a reliable and sustainable environment for future generations.
Note: The vast majority of the Company’s manufacturing and daily activities take place in Sioux Falls, SD. As such, the environmental impact of these operations is used as the benchmark for the organization.
Waste & Toxicity
- The Raven facilities that generate hazardous waste are classified by EPA as either Very Small or Small Quantity Generators. Waste is primarily spent solvents and waste ink/paint from printing, painting and cleaning processes. Raven reports the annual release of very small quantities of lead from soldering operations to the EPA’s Toxics Release Inventory (TRI).
- Raven is committed to reducing the amount of paper we consume through conversion to electronic files. Team members are encouraged to review processes and documentation to eliminate paper waste.
- Co-located, single-stream recycling bins are available throughout our facilities, including at all desks, office spaces, common areas, and conference rooms.
- When hosting events, we choose caterers who use minimal plastic and packaging. We ask the same of any community groups utilizing our space, and we require recycling at all events hosted on Raven property.
- In FY 2021, Raven operations in Sioux Falls, SD recycled 134.79 tons of material through single-stream recycling.
- Raven operates a state-of-the-art plastic reclaim center to convert excess materials into reusable plastic resin. In FY 2021, over 8.9 million pounds of engineered film were reclaimed. The operation is currently utilizing the majority of these reprocessed resin pellets by reintroducing them into select finished film and sheeting products. As high-performance barriers to potentially harmful chemicals and pollutants, the finished products made with these recycled materials are subsequently working to protect Earth’s air, water, and soil — while also eliminating waste.
- In FY 2021, the Company’s total water use in Sioux Falls was 1.8 million gallons. These operations draw water from the Big Sioux Aquifer, and all water consumption is through daily activity. At our Headquarters building, lowflow faucets are installed to reduce and regulate our water consumption.
- With a focus on sustainable building practices, Raven’s Headquarters building has a “green” roof composed of living plants on its rooftop patio to provide water filtration and improve heat efficiency. The site uses water tanks to collect rainwater, which is then repurposed for the irrigation of landscaping.
Carbon & Climate
- In FY 2021, Raven’s total energy use in Sioux Falls, SD was 24.2 million kWh. 26% was derived from renewable sources, and 54% was derived from carbon-free sources.
- As we continue to grow and expand, Raven consciously plans and seeks LEED® Certification on renovation and new construction projects, and we continue to integrate resource-conservation features in the architecture.
- The Raven Industries Board of Directors oversees the Company’s Enterprise Risk Management (ERM) process. The Company’s Vice President & General Counsel reports to the Board quarterly regarding risks and mitigating actions presented by climate change, utilities, and environmental impacts.
- The assessment of climate-related risks and opportunities is integrated into the Company’s multi-disciplinary, companywide risk management process. Management is involved in the ERM process, including discussions of the risks and opportunities presented by climate change, as well as risk mitigating actions.
We embrace the notion that we have a responsibility to give back to our team members, our customers, and our communities in order to improve our shared world.
- Raven is committed to conduct its business in a manner that respects the rights and dignity of all people, complying with applicable laws and regulations. Our policies reflect our commitment to respecting the protection of internationally recognized Human Rights. A copy of our policy can be found our website at www.ravenind.com.
Labor, Health, & Safety
- Raven monitors employee satisfaction and engagement through its annual team member survey. Raven’s expectation is to achieve an employee engagement score above 72%, which is industry standard. For FY21, Raven’s engagement score was greater than 72%.
- Raven is an employer of choice in all the communities where it operates. The Company is committed to paying competitive and a living wage for all team members based on job position and community location.
- Raven closely monitors the attrition rates throughout the organization. As a diversified business, which includes several job categories such as production manufacturing, the Company aims to keep attrition between 12%-23%. In FY21, Raven was at the lower end of the range.
- The Raven Diversity Committee is responsible for continued progress toward the vision of Raven’s diversity initiative. The Committee sets priorities and provides guidance for Raven in the design and implementation of a suite of activities and resources to help Raven team members gain the skills necessary to meet the needs of and reflect the diverse communities they serve.
- In FY 2021, 19.6% of our workforce identified with a race or ethnic group other than Caucasian, and 26.7% of our workforce was comprised of women. Raven also provided educational opportunities for all team members to celebrate and support diversity within the workplace.
Stakeholder & Society
- Raven requires routine anti-bribery training for all team members.
- The Raven Board of Directors regularly discusses environmental, health, and safety, and social matters. These matters correlate to board agendas throughout the calendar year.
Product Safety & Brand
- Raven regularly conducts customer satisfaction surveys.
- The Company believes in ethical marketing, labeling, and advertising practices and is current not engaged in any activities that do not adhere to that practice.
Other Social Practices
- We are committed to strengthening our communities, providing strategic philanthropic investments to organizations who align with our business model and purpose.
- We are committed to giving back our time, empowering our team members to make significant volunteer impacts in areas that align with their interests.
- We are committed to our team members, investing in their ongoing development and continuous improvement.
The Board of Directors sets high standards for the Company’s employees, officers, and directors. Implicit in this philosophy is the importance of sound corporate governance.
Board of Directors
- All directors are elected annually.
- All directors attended at least 75% of the board meetings in FY 2021.
- The board is 25% composed of women.
- The lowest percentage of vote support received by a management-nominated director on their most recent shareholder vote was 97%.
- No directors serve on an excess number of outside boards.
- Directors are subject to robust stock ownership guidelines.
- None of the directors were involved in material related party transactions in FY 2021.
- 87.5% of the Company’s board of directors is considered independent.
- 100% of the governance, compensation, and audit committee members are independent.
- The Chairman of the Board is independent.