Company unveils its industry-first transition
plan to cut carbon emissions over 90% throughout its value
chain.
GRAND
RAPIDS, Mich., June 10,
2024 /PRNewswire/ -- Steelcase today announces its
commitment to a net-zero future, reducing its carbon emissions over
90%* throughout its entire value chain – through its products,
operations and transportation – by 2050.
Demonstrating transparency and accountability toward this goal,
Steelcase released an industry-first net-zero transition plan,
"Power of Possibility: A Net-Zero Future Needs Us All." This plan
outlines how the company is taking bold and decisive action on its
path to net zero. Steelcase aims to transform its entire business,
reducing carbon emissions from the products it makes, how the
products are made and the ways products are delivered. Steelcase
also is using this moment as a call to action to accelerate its
impact by engaging employees, dealers, suppliers, customers and
peers to achieve a net-zero future.
This commitment builds on the organization's science-based
targets set in 2019 to cut emissions in half in its own operations
by 2030. The Science-Based Targets initiative, the leading
authority guiding businesses on how much and how quickly they need
to cut carbon emissions to reduce the impacts of climate change,
validated the company's near-term and new net-zero targets.
"We are at a moment of transformation for our business and for
the world we share. The reality of climate change demands that
people and the planet are central to the choices we make to forge a
more resilient future. This is why we already have established some
of the most ambitious carbon-reduction goals at a greater global
scale than anyone in our industry," says Sara Armbruster, Steelcase President and CEO.
"Yet, we know there's more to do. We are going beyond thinking
about sustainability one product at a time, to transforming the way
we do business now and into the future. The commitment allows us to
better serve our customers by helping them reach their own
sustainability goals."
The company's long history of a commitment to designing better
futures for the wellbeing of people and the planet is demonstrated
through three key areas: reducing its carbon footprint, designing
for circularity and choosing and using materials responsibly.
Steelcase was the industry's first to become carbon neutral, first
to set science-based targets to reduce its emissions from its
operations 50% by 2030, first to set the industry's most ambitious
supplier engagement targets, partnering with suppliers to set their
own science-based targets, and first, and only, to offer
CarbonNeutral® certified products.
"Our long history of commitment to the planet laid the
foundation for greater impact through collective action. Through
this work, we are transforming our business to drive innovative
solutions, engage our suppliers and discover new ways to serve our
customers," said Armbruster. "The progress we've already made sets
the foundation for a net-zero future."
Steelcase has been recognized by leading third parties for its
work. CDP (originally the Carbon Disclosure Project) rated the
company top in its industry for climate change disclosure and as a
supplier engagement leader. Last year, Steelcase earned a Gold
Rating from EcoVadis, a leading provider of business sustainability
ratings, including a perfect score on its environmental scorecard,
and received the Better Practice award from the U.S. Department of
Energy Better Plants® program. Steelcase also continues to
lead the industry with the most BIFMA, the Business + Institutional
Furniture and Manufacturers Association, LEVEL® certified products,
which certifies products to the highest standards for sustainable
design.
To learn more about Steelcase and its work to create better
futures for People and the Planet, visit
Steelcase.com/people-planet.
*Our reductions are measured from a FY2020 base year.
Forward-looking Statements
From time to time, in
written and oral statements, the company discusses its expectations
regarding future events and its plans and objectives for future
operations. These forward-looking statements discuss goals,
intentions and expectations as to future trends, plans, events,
results of operations or financial condition, or state other
information relating to the company, based on current beliefs of
management as well as assumptions made by, and information
currently available to, the company. Forward-looking statements
generally are accompanied by words such as "anticipate," "believe,"
"could," "estimate," "expect," "forecast," "intend," "may,"
"possible," "potential," "predict," "project," "target" or other
similar words, phrases or expressions. Although the company
believes these forward-looking statements are reasonable, they are
based upon a number of assumptions concerning future conditions,
any or all of which may ultimately prove to be inaccurate.
Forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements and vary from the
company's expectations because of factors such as, but not limited
to, competitive and general economic conditions domestically and
internationally; acts of terrorism, war, governmental action,
natural disasters, pandemics and other Force Majeure events;
cyberattacks; changes in the legal and regulatory environment;
changes in raw material, commodity and other input costs; currency
fluctuations; changes in customer demand; and the other risks and
contingencies detailed in the company's most recent Annual Report
on Form 10-K and its other filings with the Securities and Exchange
Commission. Steelcase undertakes no obligation to update, amend, or
clarify forward-looking statements, whether as a result of new
information, future events, or otherwise.
About Steelcase
Established in 1912, Steelcase is a global design, research and
thought leader in the world of work. We help people do their best
work by creating places that work better. Along with more than 30
creative and technology partner brands, we design and manufacture
furnishings and solutions for the many places where work happens —
including learning, health and work from home. Our solutions come
to life through our community of expert Steelcase dealers in
approximately 770 locations, as well as our online Steelcase store
and other retail partners. Founded in Grand Rapids, Michigan, Steelcase is a
publicly traded company with fiscal year 2024 revenue of
$3.2 billion. With approximately
11,300 global employees and our dealer community, we come together
for people and the planet — using our business to help the world
work better.
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SOURCE Steelcase