Badger Meter Releases 2023 Sustainability Report

Rhea-AI Summary

Badger Meter (NYSE: BMI) has published its 2023 Sustainability Report, emphasizing its commitment to Environmental, Social, and Governance (ESG) initiatives. The report underscores Badger Meter's growth strategy intertwined with sustainability, showcasing record sales and earnings, alongside significant reductions in greenhouse gas emissions and water intensity. Highlights include an 18% reduction in Scope 1 and 2 emissions intensity year-over-year and a 44% reduction from the 2020 baseline, a 9% reduction in water usage, and a 32% reduction in the total case incident rate. The company also reported improved employee engagement and new mental health programs. The report aligns with GRI, SASB, and TCFD standards.

Positive

• Record sales and earnings reported in 2023.
• 18% reduction in Scope 1 and 2 emissions intensity year-over-year.
• 44% reduction in emissions intensity from the 2020 baseline.
• 9% reduction in water usage.
• 27% reduction in water intensity.
• 32% reduction in total case incident rate (TCIR).
• Improved employee engagement scores with 93% participation.
• Initiation of mental health-focused programs.

Negative

• No specific negative financial or business aspects were highlighted in the PR.

MILWAUKEE--(BUSINESS WIRE)-- Badger Meter, Inc. (NYSE: BMI) today announced that it has released its 2023 Sustainability Report highlighting its commitment and progress related to value-enhancing Environmental, Social and Governance (“ESG”) efforts.

“It is not always the case that a company’s growth strategy is also good for the planet. At Badger Meter, sustainability creates our growth opportunities by enabling our customers to be more efficient, resilient and sustainable in their water operations. In 2023, we again demonstrated the link between delivering strong financial and sustainability performance with record sales and earnings alongside lower Greenhouse Gas (GHG) emission and water intensity,” said Kenneth C. Bockhorst, Chairman, President and CEO.

The Sustainability Report focuses on four strategic pillars – Governance, Products, Operations and People – that help define and guide sustainability-related matters at Badger Meter. Key highlights from the report include:

• Organic and acquisition-driven expansion of solutions aimed at reducing customer water and energy usage.
• An 18% reduction in Scope 1 and 2 emissions intensity year-over-year, with a 44% reduction in intensity from the 2020 baseline.
• A 9% reduction in water usage with a corresponding 27% reduction in water intensity.
• Continued progress toward our zero-safety goal with a 32% reduction in the total case incident rate (TCIR).
• Improved employee engagement scores as measured by our third annual global survey with 93% participation.
• Initiated mental health-focused programs expanding on our holistic wellness approach.

Bockhorst concluded, “We remain steadfast in utilizing our continuous improvement approach to integrate the tenets of ESG into our business strategies and practices, consistent with how Badger Meter sets strategy, manages key business processes and evaluates progress across the business.”

Similar to prior years, the Badger Meter sustainability report is aligned with common frameworks including the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-Related Financial Disclosures (TCFD). The Sustainability Report can be found here: https://www.badgermeter.com/sustainability-and-ethics/.

About Badger Meter

With more than a century of water technology innovation, Badger Meter is a global provider of industry leading water solutions encompassing flow measurement, quality and other system parameters. These offerings provide our customers with the data and analytics essential to optimize their operations and contribute to the sustainable use and protection of the world’s most precious resource. For more information, visit badgermeter.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240530922445/en/

Karen Bauer

(414) 371-7276

kbauer@badgermeter.com

Source: Badger Meter, Inc.

FAQ

What are the key highlights of Badger Meter's 2023 Sustainability Report?

Key highlights include an 18% reduction in Scope 1 and 2 emissions intensity, a 9% reduction in water usage, and a 32% reduction in total case incident rate.

How much did Badger Meter reduce its emissions intensity in 2023?

Badger Meter reduced its emissions intensity by 18% year-over-year and 44% from the 2020 baseline.

What did Badger Meter report about its water usage in the 2023 Sustainability Report?

The company reported a 9% reduction in water usage and a 27% reduction in water intensity.

How did Badger Meter perform in terms of employee engagement in 2023?

Badger Meter improved its employee engagement scores, with a 93% participation rate in the third annual global survey.

What new initiatives did Badger Meter introduce in 2023?

Badger Meter introduced mental health-focused programs, expanding its holistic wellness approach.