CLEVELAND, Sept. 20, 2022 (GLOBE NEWSWIRE) — Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, has released its fiscal year 2022 Sustainability Report. The report demonstrates how Parker team members are leading with purpose by highlighting its latest clean technologies, progress on achieving carbon reduction goals and a range of global initiatives to help strengthen local communities.
The FY22 Sustainability Report also features a showcase of Parker’s interconnected portfolio of motion and control technologies, which includes a broad range of highly efficient products and systems engineered to help customers reduce resource consumption and carbon emissions. Parker delivers technology solutions that enable the adoption of cleaner and more efficient energy, electrification, lightweighting and other innovations with a positive, global environmental impact to hundreds of thousands of companies across industrial, mobile and aerospace markets.
“Despite the extraordinary challenges we faced this year, Parker has made significant strides toward our carbon reduction goals, improving safety performance and advancing a diverse and inclusive culture within our workplaces,” said Tom Williams, Chairman and Chief Executive Officer. “We are also continuing to deliver clean technologies that help to create a more sustainable future, and look forward to building on our progress in the year ahead.”
This year’s Sustainability Report is aligned with Parker’s fiscal year reporting cycle, and the company has expanded the number of disclosures to create a more complete picture of the impact of its operations and the progress being made toward environmental, social and governance objectives.
Key achievements detailed in the FY22 Sustainability Report include:
- The safety and well-being of team members is Parker’s highest priority. Since 2015, the company has reduced its Recordable Incident Rate by 72% and Lost Time Incident Rate by 44%, with a goal to achieve zero recordable incidents by 2030.
- Since fiscal year 2019, Parker has reduced absolute carbon emissions by 18%. Parker’s goal is to reduce carbon from its operational footprint (scopes I and II) by 50% by 2030 and 100% (carbon neutral) by 2040. The company is also committed to reducing carbon from its indirect footprint (scope III) related to materials sourcing, logistics and services by 15% by 2030, and 25% by 2040.
- This year the Parker Foundation donated $7 million to charities around the world whose missions and programs align with three key areas of focus: STEM education, community needs and sustainability.
- As part of its ongoing diversity, equity and inclusion (DE&I) journey, Parker has established team member-led Business Resource Groups and global High Performance Teams focused on fostering a welcoming and inclusive culture.
About Parker Hannifin
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Learn more at www.parker.com or @parkerhannifin.com.
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