Aug 05 | 2022
ESG Efforts Boost Renewable Energy Usage by 10 Percent
Franklin Electric Co. Inc., which produces systems and components for moving water and fuel released its third annual Sustainability Report in an effort to provide transparency, insight and data related to the company’s Environmental, Social and Governance (ESG) initiatives and goals.
This year’s report provides details related to product advancements, employee health and wellness programs, and manufacturing initiatives. For example, Franklin Electric increased its power usage from renewable energy sources by 10 percent, through its operational efforts and global process standardization.
Franklin Electric reported significant investment in its global Goal Zero safety campaign, spending more than 24,000 hours training employees on health and safety best practices with the goal of zero work-related injuries. In addition, From a product standpoint, several product advancements are helping customers become more sustainable, including its MagForce High Efficiency Motors that significantly lower customer energy usage and related operating costs.
“I am proud of the progress that we have made in offering transparency to our environmental impact,” said Franklin Electric CEO Gregg C. Sengstack. “The results in our 2022 report speak to the combined efforts of our employees around the globe, whose work creates the products that allow for safe and reliable access to water, the filtration and treatment of water, the safe and effective movement of wastewater, and for environmentally safe and sustainable handling of liquid fuels.”
Franklin Electric produced the report following the guidelines set forth in the Global Reporting Initiative Sustainability Reporting Standards and the Institutional Shareholder Services Environmental and its Social Disclosure QualityScore Framework. These standards creates a common language for organizations to report on its sustainability impacts in a consistent and credible way.
Franklin Electric said its commitment to its initiatives and goals resulted in Newsweek naming the company to its 2022 list of America’s Most Responsible Companies.
Information in the report primarily covers the fiscal year that ended on Dec. 31, 2021. The sustainability report can be viewed here.
