Applied Industrial Technologies Celebrates ESG Milestones for 2024
Applied Industrial Technologies Reveals Its 2024 ESG Report
Applied Industrial Technologies (NYSE: AIT), a prominent distributor and provider of technical solutions, has released its 2024 Environmental, Social, and Governance (ESG) Report.
Commitment to Sustainable Practices
In this comprehensive report, the company outlines its dedication to sustainability and responsible business practices throughout its operations. Neil A. Schrimsher, President & Chief Executive Officer of Applied, stated that the report reflects the company's ongoing efforts to foster a sustainable industrial economy.
Focus on Continuous Improvement
Schrimsher emphasized the importance of continuous improvement in their ESG strategy. He mentioned that the focus is not merely on achieving current goals but also on setting the stage for long-term progress, aligning their efforts with core values and stakeholder expectations.
Reducing Environmental Impact
Applied has taken substantial steps to reduce its environmental footprint, foster inclusive workplaces, and positively contribute to local communities. In recent years, the company has made significant progress in various sustainability initiatives, demonstrating commitment through transparent reporting.
Key Highlights from the 2024 ESG Report
Several key accomplishments are featured in this year's report, showcasing the company’s strides towards sustainable practices:
- Absolute energy consumption was reduced by 3%, highlighting efforts to increase operational efficiency.
- The company expanded its reporting to include comprehensive data on waste generation and water consumption.
- Applied successfully decreased its total recordable incident rate (TRIR) by an impressive 31% to a rate of 0.78, which is below the benchmarks set by industry associations and the U.S. Bureau of Labor Statistics.
- In preparation for ISO 14001:2015 certification, Applied performed an initial environmental review and gap analysis, and developed an Emergency Management System Manual.
Future Goals for ESG Practices
Looking ahead, Mr. Schrimsher expressed his determination for continued progress in ESG initiatives. The aim is to integrate innovative solutions into both internal operations and customer interactions, further enhancing their ESG journey.
Adhering to Global Standards
The release follows Global Reporting Initiative (GRI) standards and aligns with frameworks established by the Sustainability Accounting Standards Board (SASB).
About Applied Industrial Technologies
Applied Industrial Technologies is recognized as a leader in providing solutions for industrial motion, fluid power, flow control, automation technologies, and maintenance supplies. Their broad array of services and specialized products serve Maintenance, Repair, and Operations (MRO) and Original Equipment Manufacturer (OEM) end-users across various industrial markets.
Exploring Applied’s Commitment
The company prides itself on its extensive knowledge, broad selections of leading brands, and proficient expertise, ensuring customers experience convenience and dependable service.
Frequently Asked Questions
What is the purpose of Applied Industrial Technologies' ESG Report?
The ESG Report highlights the company's commitment to sustainability and ethical practices while showcasing their progress in reducing environmental impact.
How does Applied Industrial Technologies measure its sustainability efforts?
The company utilizes Global Reporting Initiative (GRI) standards to report and align its sustainability efforts with established frameworks.
What are some highlights of the 2024 ESG Report?
Highlights include a 3% reduction in energy consumption, a 31% decrease in TRIR, and expanded data on waste generation.
Where can I find more information about Applied Industrial Technologies?
Addition details on Applied's sustainability efforts and services can be found on their official website.
What are Applied Industrial Technologies’ future sustainability goals?
The company aims to further integrate sustainable solutions into its operations and enhance initiatives that contribute positively to the environment.
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