Columbus McKinnon Publishes Fourth Annual Corporate Sustainability Report

Rhea-AI Summary

Columbus McKinnon (Nasdaq: CMCO), a leader in intelligent motion solutions for material handling, has published its fourth annual Corporate Sustainability Report. The report highlights the company's fiscal 2024 progress on key sustainability initiatives, including energy efficiency, operational efficiency, and waste reduction. The report also outlines goals in their Sustainability Index, governance, risk management, and diversity efforts, such as inclusivity training for managers and a DE&I newsletter. The CMCO Cares program, now in its second year, has successfully driven community engagement and partnerships. The company emphasizes the importance of sustainability in driving business resilience and growth.

Positive

• Progress in energy efficiency, operational efficiency, and waste reduction.
• Clear sustainability goals and targets in the CMCO Sustainability Index.
• Enhanced governance and risk management related to environmental and social impacts.
• Continued diversity and inclusion efforts, including inclusivity training for managers and global DE&I newsletter.
• Successful second year of the CMCO Cares program, promoting community partnerships and employee engagement.
• Emphasis on sustainability as a driver for business resilience and growth.

Negative

• The report does not provide specific quantitative metrics or benchmarks to measure the progress.
• Potential investor concerns on the costs and resource allocation towards sustainability initiatives without clear ROI.
• Generalized statements about success without detailed financial data to support claims of record business results.

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Columbus McKinnon Corporation (Nasdaq: CMCO) (“Columbus McKinnon” or the “Company), a leading designer and manufacturer of intelligent motion solutions, products and technologies for material handling, today announced the publication of its fourth annual Corporate Sustainability Report. This year, the report provides details on Columbus McKinnon’s performance highlights and progress made through fiscal 2024 on key sustainability initiatives.

Highlights outlined in this year’s report include:

• Progress on the Company’s ESG initiatives, including energy, operational efficiency and waste reduction plans
• Goals and targets related to sustainability in CMCO’s Sustainability Index
• Columbus McKinnon’s approach to governance and risk management, especially as they relate to environmental and social impacts
• Continued diversity and inclusion efforts, including company-wide inclusivity training for all managers as well as a monthly DE&I newsletter for all global employees
• Insights on a second successful year of CMCO Cares program, which drove new community partnerships and engagement of employees worldwide to support important causes in their communities

“Last year, we continued to advance our sustainability strategy and delivered positive change through purpose-driven performance across our business,” said David Wilson, President and CEO of Columbus McKinnon. “We are focused on making a tangible impact on behalf of our customers and are improving lives by providing intelligent motion solutions while achieving record business results. Taking care of our team, customers, shareholders and the communities we serve is essential to support sustained growth. When we focus on running a responsible, sustainable company, we make our business stronger, more agile and more resilient.”

To view Columbus McKinnon’s Corporate Social Responsibility report, visit investors.cmco.com/financials/Annual--Reports.

About Columbus McKinnon
Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of intelligent motion solutions that move the world forward and improve lives by efficiently and ergonomically moving, lifting, positioning, and securing materials. Key products include hoists, crane components, precision conveyor systems, rigging tools, light rail workstations, and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available at www.cmco.com.

Safe Harbor Statement
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are generally identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “illustrative,” “intend,” “likely,” “may,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “shall,” “should,” “target,” “will,” “would” and, in each case, their negative or other various or comparable terminology. Forward-looking statements are not based on historical facts, but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions, and involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024 as well as in our other filings with the Securities and Exchange Commission, which are available on its website at www.sec.gov. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date they are made. Columbus McKinnon undertakes no duty to update publicly any such forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240617342574/en/

Kristine Moser

VP IR and Treasurer

Columbus McKinnon Corporation

704-942-3253

kristy.moser@cmco.com

Source: Columbus McKinnon Corporation

FAQ

What sustainability initiatives did Columbus McKinnon highlight in their 2024 report?

Columbus McKinnon highlighted progress in energy efficiency, operational efficiency, and waste reduction, along with sustainability goals in their Sustainability Index.

What diversity and inclusion efforts are mentioned in Columbus McKinnon's 2024 report?

The report mentions company-wide inclusivity training for managers and a monthly DE&I newsletter for all global employees.

What is the CMCO Cares program?

CMCO Cares is a program aimed at driving community partnerships and engaging employees worldwide to support important causes in their communities.

How does Columbus McKinnon approach governance and risk management?

Columbus McKinnon focuses on governance and risk management, especially concerning environmental and social impacts.

What is the significance of the Corporate Sustainability Report for Columbus McKinnon?

The report underscores the company's commitment to sustainability, operational efficiency, and community engagement, which are viewed as important for business resilience and growth.