AZZ Inc. Releases Its First Environmental, Social Responsibility and Governance Report
AZZ Inc. (NYSE: AZZ) has launched its first Environmental, Social Responsibility, and Governance Report, highlighting its commitment to sustainable business practices. The report, prepared per GRI and SASB standards, details the company’s actions over the past 18 months, including forming a Sustainability Council, enhancing governance policies, and implementing an environmental data management system. CEO Tom Ferguson emphasized the long-term value of integrating sustainability into their strategy, while Chairman Daniel Feehan reaffirmed the board’s commitment to overseeing ESG risks and opportunities.
- Launch of the first ESG Report demonstrating commitment to sustainability.
- Formation of a Sustainability Council to oversee ESG practices.
- Implementation of an environmental data management system for performance tracking.
- Enhancements to governance policies reflecting sustainability and corporate responsibility.
- None.
FORT WORTH, Texas, Oct. 25, 2021 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services, announced today the release of its first 2021 Environmental, Social Responsibility and Governance Report ("ESG Report"). The ESG Report is an overview of our corporate sustainability initiatives and progress and highlights AZZ's ongoing commitment to social and corporate responsibility.
Tom Ferguson, Chief Executive Officer of AZZ, commented, "We are pleased to present our first annual ESG Report as it evidences our commitment to growing our business in a sustainable and socially responsible manner. Releasing our first ESG Report represents our initial step in our commitment to regularly disclose our ESG performance. The report was prepared in accordance with the guidelines of the Global Reporting Initiative ("GRI") Sustainability Reporting Standards, and the Sustainability Accounting Standards Board ("SASB") Standards for the Industrial Machinery and Goods Industry."
Daniel Feehan, Chairman of the Board of AZZ and Chair of the Nominating and Corporate Governance Committee, added, "The AZZ Board is committed to overseeing and disclosing our relevant ESG risks and opportunities, and ensuring the AZZ team has the appropriate resources to do so. In fiscal year 2021, we implemented an environmental data management system to help provide measurable base line data pertaining to AZZ's usage of energy, water, natural gas, carbon emissions, waste management and recycling. This information will assist AZZ in identifying additional opportunities for operational efficiencies, setting targets, improving on our existing benchmarks and further integrating sustainability into our business strategy."
Our initial ESG Report highlights many actions taken by AZZ over the past 18 months, including:
- Enhancing environmental, social and governance policies and procedures;
- Forming a Sustainability Council, led by the Company's Chief Legal Officer, with members of the council selected based on their knowledge of sustainability issues and cross-functional expertise in AZZ's businesses;
- Disclosing ESG and sustainability principles within a newly created ESG section located on AZZ's website;
- Amending its Nominating and Corporate Governance Committee Charter for the committee to provide oversight of the Company's ESG policies and sustainability practices; and
- Amending AZZ's Code of Conduct and Corporate Governance Guidelines and adopting a Human Rights Policy, Environmental Health and Safety Policy, and a Vendor Code of Business Conduct to reflect AZZ's commitment to sustainability, diversity, equity, and inclusion.
Mr. Ferguson added, "We are dedicated to advancing environmental and social responsibility as strategic priorities across our organization. We believe that investing in our people and the communities in which we live and work, and operating our business sustainably, will drive long-term value for AZZ and our stakeholders."
To access AZZ's 2021 ESG Report, visit our website at www.azz.com/ESG.
About AZZ Inc.
AZZ Inc. is a global provider of galvanizing and a variety of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services to a broad range of markets, including but not limited to the power generation, transmission, distribution, refining and industrial markets. The Company's Metal Coatings segment is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing, spin galvanizing, powder coating, anodizing and plating, to the North American steel fabrication industry. The Company's Infrastructure Solutions segment is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy and waste management markets worldwide.
Safe Harbor Statement
Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. Certain factors could affect the outcome of the matters described herein. This press release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand for our products and services, including demand by the power generation markets, electrical transmission and distribution markets, the industrial markets, and the metal coatings markets. In addition, within each of the markets we serve, our customers and our operations could potentially continue to be adversely impacted by the ongoing COVID-19 pandemic, including governmental issued mandates regarding the same. We could also experience additional increases in labor costs, components and raw materials, including zinc and natural gas which are used in our hot dip galvanizing process; supply-chain vendor delays; customer requested delays of our products or services; delays in additional acquisition or disposition opportunities; currency exchange rates; availability of experienced management and employees to implement AZZ's growth strategy; a downturn in market conditions in any industry relating to the products we inventory or sell or the services that we provide; economic volatility or changes in the political stability in the United States and other foreign markets in which we operate; acts of war or terrorism inside the United States or abroad; and other changes in economic and financial conditions. AZZ has provided additional information regarding risks associated with the business in AZZ's Annual Report on Form 10-K for the fiscal year ended February 28, 2021 and other filings with the Securities and Exchange Commission ("SEC"), available for viewing on AZZ's website at www.azz.com and on the SEC's website at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date hereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
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SOURCE AZZ Inc.
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