Rexnord Corporation Publishes 2020 Sustainability Report and Launches Updated ESG Website
MILWAUKEE--(BUSINESS WIRE)--Mar 18, 2021--
Rexnord Corporation (NYSE:RXN) published today its 2020 Sustainability Report, which uses the Sustainability Accounting Standards Board (SASB) framework to report the company’s environmental, social and governance (ESG) strategies and performance for the year. The company has also updated its Sustainability website to highlight the work it has done and will continue to do to help empower and protect people, communities and the planet. The report follows an announcement late last year that Rexnord has been named by Newsweek as one of America’s Most Responsible Companies 2021, which considered publicly available key performance indicators from last year’s CSR Report, company website and an independent survey.
“Our work has never been more important, as COVID-19 put a global focus on what it means to provide safe, hygienic and sustainable essential products,” said Todd Adams, Chairman, President and CEO of Rexnord Corporation. “With an amplified focus on our ESG efforts this year, including our new Board-level committee, the adoption of the SASB reporting framework, and the development of new ESG Policies, Rexnord will continue to prioritize the health and safety of our associates, while working to provide our world with products and solutions that enhance the way we live and work.”
Key highlights from Rexnord’s sustainability efforts in 2020 include:
- Governance: Rexnord enhanced and strengthened the company’s overarching ESG strategy –establishing Board-level oversight and a cross-functional, management-level ESG steering committee. Rexnord also developed new policies to better reflect its commitment to Diversity & Inclusion, Human Rights, Supplier Diversity, Product Safety, and Sustainability and the Environment.
Environment: Rexnord continued to focus on providing sustainable and hygienic products that help customers achieve greater resource efficiency in a time when the world needs them most – all while using fewer resources more responsibly throughout the company’s operations. For instance, Zurn touchless handwashing systems became all the more critical throughout the COVID-19 pandemic. Environmental performance highlights from 2020 include:
- Reducing total greenhouse gas (GHG) emissions by 8 percent, reducing total water consumption by 21 percent, and reducing total energy usage by 8 percent.
- Recycling more than 13,700 metric tons of scrap metal worldwide while finding new ways to eliminate waste.
- Enabling customers to save 165 million gallons of water globally through use of the company’s Run Dry solutions in 2020.
- And, Zurn products sold in 2020 alone will save more than 2 billion gallons of water this year.
Health & Safety: Rexnord furthered its commitment to providing every associate with the needed resources to ensure their health and safety – on and off the job. This ongoing commitment became even more critical as society faced the unprecedented COVID-19 global health crisis. Examples include:
- Providing tools and resources, PPE and training along with rigorous sanitization protocols throughout its facilities, while also providing engagement opportunities to demonstrate gratitude and appreciation for associates, community members and local businesses.
- Reducing the company’s Total Recordable Incident Rate (TRIR) by 43 percent from 2017 through 2020. Rexnord’s world-class TRIR rate of 0.21 was achieved through trainings and other safety initiatives.
- People: Rexnord’s established manager development and internship programs enabled the company to invest in diverse and highly capable new talent. Rexnord’s new Diversity and Inclusion Policy incorporates its long-standing commitment to fostering, cultivating and preserving a culture of diversity, equity and inclusion so that all associates feel welcome and valued.
- Communities: In order to help address the pressing need for racial justice, the Rexnord Foundation pledged $1 million to support racial justice and equity initiatives. This commitment included grants to All-In Milwaukee, Boys & Girls Club of Greater Milwaukee, MKE Fellows, Sojourner Family Peace Center, Next Door Foundation, United Community Center and the following United Way partner agencies and programs: Techquity, Community Schools, Boys & Men of Color, and Reducing Barriers to Employment and Advancement. This is in addition to the $1 million pledged in donated hygienic Zurn products to healthcare facilities to help fight COVID-19.
Headquartered in Milwaukee, Wisconsin, Rexnord is comprised of two strategic platforms, Process & Motion Control and Water Management, with approximately 6,600 employees worldwide. The Process & Motion Control platform designs, manufactures, markets and services specified, highly engineered mechanical components used within complex systems. The Water Management platform designs, procures, manufactures and markets products that provide and enhance water quality, safety, flow control and conservation. Additional information about the Company can be found at www.rexnordcorp.com.
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KEYWORD: UNITED STATES NORTH AMERICA WISCONSIN
INDUSTRY KEYWORD: OTHER MANUFACTURING HARDWARE STEEL ENGINEERING CHEMICALS/PLASTICS TECHNOLOGY MANUFACTURING OTHER TECHNOLOGY
SOURCE: Rexnord Corporation
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PUB: 03/18/2021 06:55 PM/DISC: 03/18/2021 06:55 PM