Fastenal Releases 2024 Environmental, Social, and Governance (ESG) Report
28 Marzo 2024 - 2:05PM
Business Wire
Fastenal Company (Nasdaq: FAST) is proud to announce the
publication of its 2024 ESG Report. The report, which recaps
Fastenal's performance and progress in the year ending December 31,
2023, was produced with reference to the Global Reporting
Initiative (GRI) standards and aligns with the ESG disclosure and
reporting frameworks established by the Sustainability Accounting
Standards Board (SASB, now part of the IFRS Foundation) and the
Taskforce on Climate-Related Financial Disclosures (TCFD).
A consistent theme of the report is how Fastenal's 23,000-plus
employees are using their talents and creativity to advance the
company's ESG vision: empowering people, preserving our world, and
serving as a trusted partner. Their efforts, combined with an
organizational commitment to continuously improve processes,
systems, and reporting, helped Fastenal solidify and make progress
toward its long-term ESG goals in 2023.
Some highlights from the report:
- Received a silver medal from EcoVadis, indicating that the
quality of Fastenal's sustainability management system ranked in
the top 25% of all companies in all industries rated by EcoVadis in
2023.
- Completed a scope 3 materiality assessment, an important step
to further broaden the company's carbon inventory and establish
baselines for science-based targets.
- Launched a large-scale plastic recycling program with Trex
Company, Inc., which uses the material to manufacture composite
outdoor decking products. The teams in Fastenal's North American
distribution centers and in-market locations are on pace to divert
more than 600,000 pounds of plastic waste in the first year of the
program.
- Continued to achieve excellent workplace safety results,
including a superior Experience Modification Rate (EMR). EMR is a
widely accepted measure of an organization's health and safety risk
determined by the National Council on Compensation Insurance based
on a company's expected workplace injuries versus other
organizations with similar characteristics. In 2023, Fastenal's EMR
was 51% better than the average performance rate for its industry
group.
"The 'Blue Team' is providing great service and creating
tremendous value for our customers, and they're doing it in a very
responsible and sustainable way," said Fastenal President and CEO
Dan Florness. "We're excited to share our story in this latest ESG
report."
VIEW THE REPORT HERE: www.fastenal.com/fast/esg
About Fastenal
Fastenal provides a broad offering of industrial supplies,
including fastener, safety, and metal cutting products, to
manufacturing, construction, and state and local government
customers through more than 3,400 in-market locations (branches and
customer-specific Onsite locations) spanning 25 countries. With
continual investment in tailored local inventory, dedicated local
experts, and flexible FMI® (Fastenal Managed Inventory) and digital
solutions, we help our business partners achieve product and
process savings across the supply chain – a "high-touch, high-tech"
approach encapsulated by our tagline, Where Industry Meets
Innovation™. Our local service teams are supported by 17
regional distribution centers, a captive logistics fleet, multiple
teams of industry specialists and support personnel, and robust
sourcing, quality, and manufacturing resources, enabling us to grow
by getting closer to customers and providing innovative and
comprehensive solutions to customer supply chain challenges.
Additional information regarding Fastenal is available on the
Fastenal Company website at www.fastenal.com.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements, which are
subject to risks and uncertainties. Fastenal's sustainability
goals, targets, pace, and expectations are long-term and
inspirational and by their nature, include forward-looking
statements. Actual results may differ from those set forth in the
forward-looking statements due to a variety of factors, including
those described in Fastenal's annual ESG Reports and filings with
the Securities and Exchange Commission. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date on which they are made. Fastenal
undertakes no obligation to update or revise any forward-looking
statements.
FAST-G
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version on businesswire.com: https://www.businesswire.com/news/home/20240328051173/en/
Taylor Ranta Oborski Financial Reporting & Regulatory
Compliance Manager 507.313.7959
Fastenal (NASDAQ:FAST)
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