VANCOUVER, British Columbia, May 28, 2024 (GLOBE NEWSWIRE) -- Finning International Inc. (TSX: FTT) ("Finning," the "Company," "we," "us" or "our") announced today the release of our 2023 Sustainability Report, offering a balanced view on the progress of our sustainability efforts.
In 2023, we continued our work in key areas such as employee safety and well-being, diversity and inclusion, greenhouse gas emissions reduction, and community support.
"Our people are at the heart of our business, and we are committed to ensuring their well-being and success. In 2023, we embedded Sustainable Growth into our strategy to ensure we are managing our business in a responsible and resilient way," said Kevin Parkes, president and CEO of Finning. “I am very proud of the progress we made toward our sustainability goals in 2023 while also delivering strong growth. We are committed to creating a positive impact on our employees, customers, partners and the communities where we work by building safe, secure and inclusive environments."
Key highlights from our 2023 Sustainability Report:
A 29% reduction in absolute Scope 1 and Scope 2 GHG emissions from our 2017 baseline, keeping us on track to achieve our 40% reduction goal by 2027.
A 27% reduction in Significant Incident Frequency compared to 2021.
A fivefold increase in 4Refuel renewable and low-carbon fuels sales compared to 2022.
Women represent 32% of our senior leadership.
Procurement of $39.6M from Indigenous-owned businesses in Canada.
Sustainability is a guiding principle for us, and our 2023 Sustainability Report reflects our commitment to balanced and transparent reporting. It provides an overview of our initiatives and performance in five key areas over the past year:
People: Ensuring safe and secure, healthy, inclusive, and respectful workplaces, to enable our people to have a positive impact on each other, our customers and the communities where we work.
Environment: Reducing greenhouse gas emissions from our facilities and fleet, managing waste, and preventing spills.
Customers: Offering products and digital solutions that help our customers improve their safety and environmental performance, and business productivity.
Communities & Indigenous Engagement: Partnering with organizations that support science, technology, engineering, and mathematics (STEM) education, women and girls, as well as Indigenous and other under-served communities.
Governance, Ethics & Cybersecurity: Ensuring effective processes and controls are in place to prevent unlawful or unethical behaviours, identify and manage key risks, support and protect employees who speak up, and protect Finning’s, our employees and customers’ information.
Our Sustainability Report is supplemented by our 2023 Joint Modern Slavery report, our Global Sustainability Policy, and our 2023 GHG Limited Assurance Report. These documents can be found at https://www.finning.com/en_CA/company/sustainability-report.html.
ABOUT FINNING Finning is the world’s largest Caterpillar dealer, delivering excellent service to customers for over 90 years. Headquartered in Surrey, British Columbia, we provide Caterpillar equipment, parts, services, and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland.
FORWARD-LOOKING INFORMATION: This news release contains information about our business outlook, objectives, plans, strategic priorities and other information that is not historical fact. Information we provide is forward-looking when we use what we know and expect today to give information about the future. Unless otherwise indicated, forward-looking information in this news release reflects our expectations at the date of this news release. Forward-looking information in this news release includes our goal to achieve a 40% reduction in our absolute Scope 1 and Scope 2 GHG emissions by 2027 from our 2021 baseline and statement about being on track to meet that goal, which depends on our ability to successfully execute our initiatives to reduce such emissions. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking information, whether due to new information, future events, or otherwise. Forward looking information, by its very nature, is subject to numerous risks and uncertainties and is based on a number of assumptions. This gives rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking information and that our business and sustainability outlook, objectives, plans, strategic priorities and other information that is not historical fact may not be achieved. As a result, we cannot guarantee that any forward-looking information will materialize.
Forward-looking information is provided in this news release for the purpose of giving information about our current expectations and plans and allowing investors and others to get a better understanding of our sustainability efforts. However, readers are cautioned that it may not be appropriate to use such forward-looking information for any other purpose. Forward looking information provided in this news release is based on assumptions that we believed were reasonable on the day the information was given, including but not limited to, about our abilities stated in the preceding paragraph.
Some of the assumptions, risks and other factors which could cause results to differ materially from those expressed in the forward-looking information in this news release are discussed in our current Annual Information Form (AIF) and in our most recent annual and quarterly management’s discussion and analysis (MD&A) for financial risks. We caution readers that any risks described in this news release, or in our MD&A or AIF are not the only ones that could impact us. Additional risks and uncertainties not currently known to us or that are currently deemed to be immaterial may also have a material adverse effect on our activities, business, financial condition, or results of operations.
