SAN FRANCISCO, April 22, 2022 (GLOBE NEWSWIRE) -- Embark Trucks, Inc. (Nasdaq: EMBK, “Embark”), a leading developer of autonomous technology for the trucking industry, today announced the release of its inaugural Environmental, Social, and Governance (ESG) Report 2021. The publication highlights ESG initiatives the company has undertaken in 2021, including a key focus area review that will serve as a baseline for future endeavors. The company issued this inaugural report less than six months after going public to highlight ESG as a key value within its business. Already, Embark has made groundbreaking progress across each of the three ESG pillars:
Environmental Initiatives
Embark is working with fleet partners to help them comply with emissions standards like those announced in the EPA’s Clean Trucks Plan. In one forward-leaning study within the autonomous trucking industry to reduce emissions, Embark is running an electric vehicle drayage pilot with HP, Inc., which can reduce HP’s diesel emissions network-wide and create a more sustainable supply chain from end to end for shippers.
Social Initiatives
A primary focus of the company’s ESG mission is to spearhead increased safety on public roads. Already, Embark-powered trucks have driven one million real world miles without a Department of Transportation (DoT) reportable safety incident. Embark’s collaboration with the Arizona Department of Transportation to improve highway work zone safety is targeted at reducing the 102,000 work zone related crashes reported in the U.S. in 2020, of which large trucks were responsible for 26% of fatal crashes.
Governance Initiatives
Embark has taken steps to create strong organizational accountability through the establishment of Independent Board Committees. The Board is composed of highly experienced independent directors and has issued a robust Code of Business Ethics, amongst other initiatives. The company also re-emphasized its commitment to diversity, equity, and inclusion (DEI), establishing a Company-level Objective & Key Result to prioritize DEI and promote diversity throughout the organization.
“The trucking industry is contending with a real need for change,” said Alex Rodrigues, CEO of Embark. “Safety challenges, diesel emissions, and a persistent truck driver shortage caused by poor quality of life continue to add significant pressure to an already stressed industry. Making ESG a priority reinforces both Embark’s robust business strategy, and a more resilient trucking industry that is made safer, more sustainable, and better for workers. We believe our focus on the sustainability benefits of autonomous trucks will appeal to the significant and growing interest in ESG amongst the investment community.”
The 2021 ESG Report is Embark’s first published report of its kind and is designed to provide shareholders and stakeholders with a clear tool to track the company’s progress as it continues to achieve its ESG-related goals. The report has been reviewed and approved by the Nominating and Governance Committee of the Embark Board of Directors. To read the report and learn more about Embark's approach to ESG, visit investors.embarktrucks.com/esg.
About Embark
Embark Trucks, Inc., a wholly owned subsidiary of Nasdaq-listed Embark Technology, Inc. (Nasdaq: EMBK), is an autonomous vehicle company building the software powering autonomous trucks, focused on improving the safety, efficiency, and sustainability of the nearly $730 billion a year trucking market. Headquartered in San Francisco, CA since its founding in 2016, Embark is America’s longest-running self-driving truck program. The company partners with some of the largest shippers and carriers in the nation, collectively representing over 38,000 trucks.
Embark’s mission is to realize a world where consumers pay less for the things they need, drivers stay close to the homes they cherish, and roads are safer for the people we love. To learn more about Embark, visit embarktrucks.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Embark’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward looking statements. These forward-looking statements include, without limitation, Embark’s expectations with respect to future performance. These forward-looking statements also involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Factors that may cause such differences include, but are not limited to: (1) ability to expand into new markets; (2) changes in the applicable laws or regulations; (3) the possibility that Embark may be adversely affected by other economic, business, and/or competitive factors; (4) the impact of the global COVID-19 pandemic; and (5) other risks and uncertainties separately provided to you and indicated from time to time described in filings and potential filings by Embark with the U.S. Securities and Exchange Commission (the “SEC”), including those discussed in the registration statement on Form S-4 and definitive proxy statement/prospectus and other documents filed with the SEC from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements. Embark cautions that the foregoing list of factors is not exhaustive and not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. Embark undertakes no obligation to and accepts no obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Media Contact
Misha Rindisbacher
press@embarktrucks.com
Investor Relations Contact
Bill Ong
investorrelations@embarktrucks.com
