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2020 Corporate Responsibility Report Outlines Initiatives and Progress in Advancing Pentair’s Journey Towards Delivering a More Sustainable Company
Pentair plc (NYSE:PNR), a leading provider of water treatment and sustainable solutions, today announced its Social Responsibility Strategic Targets. The new targets were launched with the release of Pentair’s 2020 Corporate Responsibility Report, which highlights the company’s initiatives to be a leading socially responsible company as it delivers smart, sustainable solutions that empower customers and employees to make the most of life’s essential resources.
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Learn more about Pentair's Social Responsibility initiatives at Pentair.com/Impact. (Graphic: Business Wire)
"As a leading provider of water treatment and sustainable solutions, we are proud of our efforts to further Environmental, Social and Governance (ESG) stewardship that are highlighted in our 2020 Corporate Responsibility Report," said John L. Stauch, Pentair President and CEO. "With the announcement of our Social Responsibility Strategic Targets we are looking forward to our continued role in reducing our impact on the environment and developing solutions to address the global water and climate change challenges of the future."
Pentair’s Social Responsibility Strategic Targets Include:
Carbon Footprint Reduction: We are targeting reducing our Scope 1 and 2 greenhouse gas emissions by 50 percent from a 2019 baseline by 2030, and aim to achieve carbon neutrality by 2050
Water Reduction: We are targeting a 30 percent reduction in overall water withdrawal from a 2019 baseline by 2030
Product Design for Sustainability: We plan to further assess, design, and commercialize our products for environmental sustainability to reduce our customers’ impact on climate change. We plan to enhance our product innovation process in 2021, launching it in 2022.
Responsible Supply Chain: In partnership with our suppliers, we are expanding our social responsibility strategy beyond our operations to build a more sustainable supply chain. This includes our plan to refresh our Supplier Code of Conduct with increased focus on environmental sustainability and social responsibility in 2021, and launching an updated supplier assessment process in 2022.
Inclusion & Diversity: Our diversity and inclusion targets include achieving an inclusive and diverse workforce and leadership team that embraces the communities in which we live, work, and serve, with a specific focus on increasing women in leadership positions globally and persons of color representation in U.S. leadership positions.
"We are excited about our Social Responsibility Strategic Targets as they are focused in the areas that matter to our employees, customers, shareholders, and the community and we expect them to positively contribute to our business and society," said Karla Robertson, Executive Vice President, General Counsel, Secretary, and Chief Social Responsibility Officer. "We are integrating ESG practices throughout our businesses, creating broad accountability for our strategy, and actively tracking and measuring our progress on our journey in building a more sustainable company."
Pentair’s Social Responsibility Strategic Targets are built on the company’s prior ESG achievements and initiatives. 2020 accomplishments, as further highlighted in Pentair’s Corporate Responsibility Report, include:
Achieved the 2,000th customer installation of carbon dioxide (CO2) systems, which allow customers to capture CO2 from manufacturing processes before it is released into the atmosphere and then recycle it to produce other valuable byproducts
Received its eighth consecutive ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency for outstanding contributions to protecting the environment through superior energy efficiency achievement with its variable speed pool pumps
Reduced electricity and natural gas usage within its own operations steadily over time, and reduced waste generation
Signed the CEO Action Pledge for Diversity and InclusionTM committing to a specific set of plans to cultivate an inclusive environment; provided paid time off for employees to volunteer; and provided a double match for employee contributions toward racial and social justice issues
Responded with agility to the COVID-19 pandemic, implementing a holistic approach to help keep its workforce safe and healthy while delivering for customers and shareholders
Learn more about Pentair’s Social Responsibility Strategic Targets and its 2020 Corporate Responsibility Report at Pentair.com/Impact. Pentair’s 2020 Corporate Responsibility Report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards, Core option. In addition, Pentair began mapping to the Sustainability Accounting Standards Board (SASB) as well as the Task Force on Climate-Related Financial Disclosure (TCFD) recommendations.
ABOUT PENTAIR PLC
Pentair makes the most of life’s essential resources. From our residential and business solutions that help people move, improve and enjoy their water, to our sustainable innovations and applications, we deliver smart, sustainable solutions for life.
Pentair had revenue in 2020 of $3 billion, and trades under the ticker symbol PNR. With approximately 9,750 global employees serving customers in more than 150 countries, we work to help improve lives and the environment around the world. To learn more, visit pentair.com.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This release contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets," "plans," "believes," "expects," "intends," "will," "likely," "may," "anticipates," "estimates," "projects," "should," "would," "could," "positioned," "strategy," "future" or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including the risk that we will be unable to execute our strategy because of market or competitive conditions. Additional information concerning these and other factors is contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020. All forward-looking statements speak only as of the date of this release. Pentair plc assumes no obligation, and disclaims any obligation, to update the information contained in this release.
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