Donaldson Company Releases Fiscal Year 2023 Sustainability Report
April 16 2024 - 12:06PM
Business Wire
Company highlights advances on climate
action and sustainability goals
Donaldson Company, Inc. (NYSE:DCI), a leading worldwide
manufacturer of innovative filtration products and solutions, today
published its fiscal 2023 Sustainability Report. The report details
progress made towards the Company’s sustainability goals,
referenced as the “2030 Ambitions.” These goals include reducing
greenhouse emissions (GHG), improving gender and racial/ethnic
representation, protecting the health and safety of employees, and
positively impacting communities and are a part of Donaldson’s
sustainability strategy – Filtration for a Thriving Future. The
progress made reflects the Company’s investments in pursuing and
advancing its environmental, social and governance (ESG)
efforts.
“Our commitment to ESG principles, coupled with our dedicated
efforts towards sustainable stakeholder care, enhance Donaldson’s
standing as a responsible corporate citizen,” said Tod Carpenter,
chairman, president and chief executive officer. “Our 2023
accomplishments reflect the execution of our Filtration for a
Thriving Future strategy which is grounded in our commitment to
ensuring our products and practices have a positive impact today
and create a thriving future for people and the planet.”
The Filtration for a Thriving Future sustainability strategy is
guided by a commitment to drive continuous value for customers,
mainly through 1) advancing filtration to support the transition to
a lower-carbon economy, 2) enabling life-changing innovations
through partnerships in industries including sustainable food
production and life-saving therapeutics, and 3) building
sustainable partnerships through deep technical expertise, proven
processes, and collaboration. The following are Donaldson’s 2030
Ambitions and fiscal year 2023 accomplishments:
2030 Ambition
FY23 Accomplishments
GHG Gas
Emissions: Targeting an absolute reduction of its Scope 1
and 2 GHG gas emissions by 42% by the end of fiscal year 2030 from
a fiscal year 2021 baseline. This ambition, along with the
execution roadmap, is science-based and aligns with the
Intergovernmental Panel on Climate Change (IPCC) 1.5°C global
warming scenario.
Reduced total Scope 1 and 2 GHG emissions
by 25% and grew renewable energy usage by 21% over fiscal year
2021.
Employee Health
& Safety: Providing safe and healthy workplaces. The
Company aims to have year-over-year reductions in life-changing
events and consistently have zero life-changing events by the end
of fiscal year 2030.
Improved safety record by reducing the
total recordable incident rate and the number of life-changing
incidents compared with fiscal year 2022.
Diversity, Equity
& Inclusion: Advancing opportunity and equity in the
workplace and recruiting, retaining, developing and promoting a
workforce that reflects the diversity of the communities in which
Donaldson operates. The Company targets an increase in the number
of women in global leadership positions to 35% by the end of fiscal
2030 versus a January 2023 baseline.
Improved representation of women in
leadership roles compared with the baseline.
Community Engagement
& Giving: Increasing charitable giving through the
Donaldson Foundation by 25% every four years, giving cumulatively
at least $13.5 million from fiscal year 2022 to fiscal year 2030,
to organizations within Donaldson’s communities with a focus on
meeting educational needs.
Donated $1.2 million through the Donaldson
Foundation during fiscal year 2023.
Donaldson’s progress against the 2030 Ambitions continues to
build upon the Company’s prior sustainability achievements. As
Donaldson’s sustainability efforts evolve, the Company will
continue to leverage its technology and expertise to help customers
face their own sustainability challenges. Learn more about
Donaldson’s Sustainability strategy and read its fiscal year 2023
Sustainability Report at www.Donaldson.com.
Statements in this release regarding future events and
expectations, such as forecasts, plans, trends and projections
relating to the Company’s business and financial performance, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and are identified by
words or phrases such as “will likely result,” “are expected to,”
“will continue,” “will allow,” “estimate,” “project,” “believe,”
“expect,” “anticipate,” “forecast,” “plan” and similar expressions.
These forward-looking statements speak only as of the date such
statements are made and are subject to risks and uncertainties that
could affect the Company’s performance and could cause the
Company’s actual results for future periods to differ materially
from any opinions or statements expressed. These factors include,
but are not limited to, challenges in global operations; impacts of
global economic, industrial and political conditions on product
demand; impacts from unexpected events, including natural
disasters; effects of unavailable raw materials or material cost
inflation; inability to attract and retain qualified personnel;
inability to meet customer demand; inability to maintain
competitive advantages; threats from disruptive technologies;
effects of highly competitive markets with pricing pressure;
exposure to customer concentration in certain cyclical industries;
inability to manage productivity improvements; inability to achieve
commitments to ESG; results of execution of any acquisition,
divestiture and other strategic transactions; vulnerabilities
associated with information technology systems and security;
inability to protect and enforce intellectual property rights;
costs associated with governmental laws and regulations; impacts of
foreign currency fluctuations; and effects of changes in capital
and credit markets. These and other factors are described in Part
I, Item 1A, “Risk Factors” of the Company’s Annual Report on Form
10-K for the fiscal year ended July 31, 2023. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, unless required by law. The results
presented herein are preliminary, unaudited and subject to revision
until the Company files its results with the United States
Securities and Exchange Commission on Form 10-Q.
About Donaldson Company,
Inc.
Founded in 1915, Donaldson (NYSE: DCI) is a global leader in
technology-led filtration products and solutions, serving a broad
range of industries and advanced markets. Diverse, skilled
employees at over 140 locations on six continents partner with
customers—from small business owners to R&D organizations and
the world’s biggest OEM brands. Donaldson solves complex filtration
challenges through three primary segments: Mobile Solutions,
Industrial Solutions and Life Sciences. Additional information is
available at www.Donaldson.com.
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Sarika Dhadwal (952) 887-3753 Sarika.Dhadwal@Donaldson.com
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