||Environmental, Social, and Governance (ESG)|
NVE is committed to ensuring the safety, health,
and protection of people and the environment, and to high standards of ethics
and corporate governance.
Products and Research That Enhance the Safety, Health, and Protection of People
and the Environment
Our unique products are used to improve the safety of factories, vehicles, equipment,
and medical devices, and to make better medical devices. Our products also protect
the environment by reducing energy usage, enabling smart grids to
manage energy, and managing energy conversion and storage. Our research to protect
people includes biosensors to improve food safety and faster, more accurate medical
Reducing Hazardous Substances
The great majority of the components we sell comply with the Restriction of Hazardous
Substances (RoHS) Directive; Registration, Evaluation, Authorization
and Restriction of Chemicals (REACH) Regulations; and the Waste
Electrical and Electronic Equipment (WEEE) Directive. However, we
continue to sell non-RoHS parts for U.S. defense and aerospace applications that
cannot use RoHS parts. The shipping and packing materials, accessories, and other
items delivered with NVE products also conform to the European Union RoHS and
China RoHS Directives.
Compliance Certificate (.pdf)
Halogens can form dioxins when burned, and dioxins are considered to be likely
carcinogens. NVE certifies that, to the best of our knowledge, our products comply
with the halogen-free requirements adopted by the International Electrotechnical
NVE complies with applicable environmental laws and regulations, particularly
with respect to industrial waste and emissions. We recycle byproducts of our manufacturing
processes wherever practical. We also recycle shipping materials, office paper,
and aluminum cans. We comply with Hennepin County business recycling requirements,
including pairing recycling bins with trash bins.
Supporting the Sustainable Forestry Initiative
Where possible we use office paper and packaging materials certified by the Sustainable
Forestry Initiative® (SFI). The SFI Standard is based on principles
and measures that promote sustainable forests and considers all forest values.
We recycle unneeded electronics using environmentally sound recycling practices,
and periodically offer employees free recycling of their hazardous waste and unneeded
A major expansion in 2012 included more efficient heating, air-conditioning, humidity
control, filtration, and pumps. These investments reduced our carbon footprint
as well as our operating costs. We also upgraded to more efficient heating, air
conditioning, air-handling, and water heating modules in 2015 through 2018.
We provide accommodations for employees who bicycle to work.
Our coffee service provides sustainably-grown coffees with certifications including
Fair Trade, Rain Forest Alliance, and UTZ Kapeh. We provide employees and visitors
stylish ceramic coffee cups to avoid Styrofoam waste.
Sustainable Shareholder Communications
In 2007, NVE was one of the first publicly-traded companies to adopt Notice and
Access (e-Proxy) procedures that allow companies to provide proxy
materials to shareholders through the Internet. This reduces environmental impact
by saving trees and reducing fossil fuel consumption. Annual reports and proxy
statements we mail or provide on request use SFI-certified paper.
Diversity, Equity, and Inclusion
We have policies to prevent discrimination based on gender, race, disability,
ethnicity, nationality, religion, sexual orientation, gender identity, or gender
We have a written Affirmative Action program that complies with Executive Order
11246 concerning government contractors. Under our program, we take affirmative
action to ensure that applicants are employed, and that employees are treated
during employment, without regard to their race, color, religion, sex, or national
origin. We also take Affirmative Action to employ and advance veterans in employment.
Beginning in 2018, we voluntarily followed the Office of the New York City
Comptroller best practices disclosures in our proxy statements
relating to directors gender and racial/ethnic diversity.
Beginning in 2021, we plan to explicitly disclose the gender and race of our directors
in accordance with best practices recommended by the Office of the New York
City Comptroller, the Minnesota State Board of Investment, the Midwest
Investors Diversity Initiative, the Northeast Investors Diversity
Initiative, and others.
For many years we have met the requirements of a proposed Nasdaq rule to have
at least one female director and one in an underrepresented minority or LGBTQ+.
The company was listed as the Best
Technology Company to Work for in Eden Prairie for 2018 by Zippia,
based on criteria including employee diversity. The company was also and recognized
in 2017, 2019, and 2019 as a W Company by 2020 Women on Boards
for its commitment to board diversity.
Supporting Women and Families
In addition to our Antidiscrimination Policies and Affirmative Action Program,
we provide employees protections in accordance with the Minnesota Womens
Economic Security Act of 2014, including:
||We provide reasonable accommodations to employees for
health conditions related to pregnancy or childbirth.
||We make hiring, promotion, and termination decisions
re/gardless of an employees familial status.
||We provide up to 12 weeks of pregnancy/parental leave.
Supporting Employees Health
We offer employees free annual Health Risk Assessments, wellness programs, and
financial incentives for healthy biometrics.
High Marks for Governance
NVEs ISS QualityScore is in the top 30% of scored companies.
Respecting Rules and Ethics
Our Policy on Ethics
and Business Conduct requires adherence to the letter and spirit of all applicable
governmental laws, rules and regulations. We also have an explicit principle that
we will not tolerate bribery.
We do not export to countries designated by the U.S. Department of State as State
Sponsors of Terrorism, or subject to other trade embargoes. Countries currently
designated as State Sponsors of Terrorism are Iran, Sudan, and Syria. Other sanctions
apply to North Korea, Cuba, and Burma. We also have policies and procedures to
respect the Commerce Department Entity List blacklist.
Avoiding Conflict Minerals
Our policy is that we will not knowingly purchase raw material supplies that contain
conflict minerals that directly or indirectly finance or benefit armed groups
in the Democratic Republic of the Congo or an adjoining country. Our policy is
to take continuous practical action to seek to ensure that materials from the
conflict region do not enter our supply chain or products.
Conflict Minerals Report
We are audited to IATF16949,
which includes requirements for implementing and testing cybersecurity.