Published on September 30, 2022

Cimpress provides small businesses with custom-printed promotional products. It specializes in mass customization across a wide range of categories (print, signage, photo merchandise, packaging, apparel, etc.), which brings down unit costs for its clients.

Cimpress was founded with the goal of providing small businesses access to the same high-quality, custom-printed products as large, big budget enterprises.

Cimpress’s sustainability efforts are focused on three major initiatives: responsibly sourced paper, carbon reduction, and plastics transition. The company understands that the long-term success of its business depends on a plentiful supply of paper products, so it is taking proactive steps to limit its environmental impact on forests. To accomplish this, Cimpress has decided to increase its use of Forest Stewardship Council-certified wood-fiber products, which is the world’s leading certification of responsible forestry practices. The company currently sources over 85% of its paper products from FSC-certified sources and has set targets to achieve 100% FSC-certified sourced wood-fiber products in its corporate facilities and 95% for products printed for Cimpress by third parties.

Cimpress has also established carbon reduction goals to help fight climate change. The company has committed to a 53% reduction in emissions by 2030 compared to its 2019 baseline, and to net zero emissions by 2040 across the company’s entire value chain. Through investments in improved lighting, HVAC effciency, LED printing machines, and onsite solar installations Cimpress has been able to reduce direct (Scope 1 and 2) carbon emissions by 35% between 2016 and 2020. In 2021, 51% of the company’s energy use was from sustainable sources and Cimpress is pursuing additional opportunities to procure long-term renewable energy for all locations.

The company has made the transition away from plastics another key focus of its sustainability efforts, as plastics are well-known to take a significant toll on the environment. The company constantly monitors developments in the recycling sector to increase the recyclability, reusability, and composability of its products. To drive greater circularity of its packaging Cimpress has set goals to eliminate 100% of PVC and polystyrene plastics in products and packaging, convert to 100% of packaging materials that are recyclable, reusable, compostable, or eligible for a return to the company, and reduce the use of virgin plastics by 20% through increased recycled content in packaging and products.

Beyond the sustainability initiatives highlighted above, Cimpress has made meaningful commitments to supporting diversity and inclusion within the company and its communities. During the pandemic, Cimpress partnered with the U.S. Chamber of Commerce to start the Save Small Business Fund and donated $1 million to businesses that had between 3 and 20 employees that operated in vulnerable communities in the United States. Cimpress India has begun a program that supports women in India returning to work after a sabbatical for any reason, providing remote work options and flexible working hours. In the U.S., Cimpress has partnered with the Human Rights Campaign to create a more diverse workforce, and the company has been named a “Best Place to Work for LGBTQ Equality.” Diversity and sustainability at Cimpress go beyond doing the right thing – the company sees both as key drivers of future growth.

Marcus Moore

Assistant Portfolio Manager

Written by

Marcus Moore

Assistant Portfolio Manager

Marcus Moore

Assistant Portfolio Manager

Marcus Moore joined Osterweis Capital Management in 2022 as part of the Zeo Capital Advisors team transition, where he was an Assistant Portfolio Manager focused on credit research, including sustainability analysis. Before joining Zeo in 2019, Mr. Moore worked at Wells Fargo Bank for 14 years as an Analyst within Principal Investing, responsible for the retail, consumer, and gaming sectors across various asset classes including high yield bonds, leveraged loans, and structured products. Prior to working at Wells Fargo, Mr. Moore worked at Edison Mission Energy as an analyst and at Hamilton Resources, Procter & Gamble, and Goldman Sachs.

Mr. Moore is an Assistant Portfolio Manager for the sustainable credit strategies.

Mr. Moore graduated from Morgan State University in Baltimore, MD (B.S. in Accounting) and from the University of California, Los Angeles Anderson School with an M.B.A. He also holds the CPA designation.

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Past performance does not guarantee future results. This company was not selected for performance-based reasons, and was instead selected to emphasize the types of issuers that the Osterweis Sustainable Credit Team seeks to invest in based on its sustainability mandate.

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