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.
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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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Contacts
Sarika Dhadwal (952) 887-3753
Sarika.Dhadwal@Donaldson.com
