Kienberg, AT – September 28, 2023 — Worthington Industries, Inc. (NYSE: WOR) released on the 25th September 2023 its Fiscal Year 2023 (FY23) Corporate Citizenship and Sustainability Report documenting the Company’s key initiatives and related performance in areas such as environmental footprint and innovation, workforce development, corporate citizenship and governance.
The report can be viewed here.
Andy Rose, president and CEO, Worthington Industries, said, “We are making strategic choices to reduce our environmental footprint, innovate sustainable offerings, improve processes with technology, and expand and deepen our commitments in our communities. Thanks to our employees’ efforts, we continue to make significant progress.”
Report highlights include:
- Recycling, Reusing and Diverting: Worthington has a dedicated team focused on recycling or reusing nearly 100 percent of scrap steel. Companywide the business diverted 97 percent of total waste from landfills.
- Reducing Carbon Footprint: Lowered greenhouse gas emissions intensity (Scope 1 and 2 emissions per $1,000/revenue) by 36 percent to 0.061 compared to levels tracked in CY20. The Company remains committed to net-zero emissions by 2050.
- Increasing Use of Renewable Energy: Measured a 1,540 percent increase in gigajoules used in FY23 compared to CY20. The Leon, Mexico, facility meets nearly 100 percent of its electrical demand through solar panels.
Enhancing an Inclusive and Diverse Workforce: Throughout FY23, Worthington filled 53 percent of open salaried positions with diverse employees. - Prioritizing a Safe Workplace: At the end of 2022, Worthington’s Total Case Incident Report per 100 employees was 1.8x better than industry average within the Primary Metal Manufacturing category as reported by the U.S. Bureau of Labor Statistics.
- Supporting Communities: The Worthington Industries Foundation contributed $2.9 million in FY23 to 69 organizations championing causes across health, human services, youth and education and civic causes.
- Spending Locally: Ninety-six percent of Worthington’s procurement spending in the United States went to domestic suppliers as part of a responsible supply chain initiative.
In addition to the advancements Worthington is making in its own operations, the Company remains focused on product innovations that further enhance the sustainability and livability of our world. For example, the Sustainable Energy Solutions business is supplying H2 and compressed natural gas fueling systems for buses in Germany while also supporting an emission-free hydrogen-powered shunting introduction in Poland.
Worthington Industries’ Tempel business, which manufactures precision magnetic steel laminations, estimates that its products saved more than 1.2 metric tons of carbon emissions in FY23. Earlier this summer, Tempel earned a prestigious Global Supplier Award from Dana Incorporated as the top global supplier of the year for its Lead Electric Propulsion category. Dana is a global leader in drivetrain and e-propulsion systems.
Newsweek included Worthington Industries in its 2023 listing of America’s Most Responsible Companies. This annual listing honors “companies that actually mean it when they say they are serious about being good corporate citizens.” In October 2022, Investor’s Business Daily recognized Worthington Industries as the nation’s leading company “with superior Environmental, Social and Governance (ESG) ratings combined with strong fundamental and technical stock performance.”
Worthington Industries developed its FY23 Corporate Citizenship and Sustainability Report with reference to Global Reporting Initiative (GRI) Standards, Iron & Steel Producers Standards of the Sustainability Accounting Standards Board (SASB), as well as elements of the Industrial Machinery & Goods and Building Products & Furnishings Sustainability Accounting Standards and the Task Force on Climate-Related Financial Disclosures (TCFD). The Company continues to map progress on material topics aligned with the United Nations Sustainable Development Goals (SDGs).
About Worthington
Worthington Industries Europe is the largest designer and manufacturer of pressure vessels in the region with over 1,600 employees working at facilities in Austria, Poland and Portugal. Worthington is the first in its industry to incorporate sustainable practices into its long-term business strategy. With the lightest composite and steel low- and high-pressure cylinders available,
Worthington designs and makes solutions for technical gases, industrial gases, and alternative fuels. The Company invests strategically in production facilities that serve the sustainable mobility market with gas-storage, transport and onboard fueling systems for cars, buses, trucks and more.
Worthington Industries (NYSE:WOR) is a leading industrial manufacturing company delivering innovative solutions to customers that span many industries including transportation, construction, industrial, agriculture, retail and energy. Worthington is North America’s premier value-added steel processor and producer of laser welded products; and a leading global supplier of pressure cylinders and accessories for applications such as fuel storage, water systems, outdoor living, tools and celebrations. The Company’s brands, primarily sold in retail stores, include Coleman®, Bernzomatic®, Balloon Time®, Mag Torch®, Well-X-Trol®, General®, Garden-Weasel®, Pactool International® and Hawkeye™. Worthington’s WAVE joint venture with Armstrong is the North American leader in innovative ceiling solutions.
Headquartered in Columbus, Ohio, Worthington operates 51 facilities in 15 states and seven countries, sells into over 90 countries and employs approximately 7,500 people. Founded in 1955, the Company follows a people-first philosophy with earning money for its shareholders as its first corporate goal. Relentlessly finding new ways to drive progress and practicing a shared commitment to transformation, Worthington makes better solutions possible for customers, employees, shareholders and communities.
Safe Harbor Statement
The Company wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 (the “Act”). Statements by the Company which are not historical information constitute “forward looking statements” within the meaning of the Act. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those projected. Factors that could cause actual results to differ materially include risks, uncertainties and impacts described from time to time in the Company’s filings with the Securities and Exchange Commission, including those related to COVID-19 and the various actions taken in connection therewith, which could also heighten other risks.