Donaldson Company Announces 2030 Environmental and Social Ambitions

Rhea-AI Summary

Donaldson Company (NYSE:DCI) has unveiled its 'Filtration for a Thriving Future' sustainability strategy, setting ambitious goals for 2030. The company aims for a 42% reduction in Scope 1 and 2 greenhouse gas emissions from 2021 levels, alongside zero life-changing employee events annually. Additionally, Donaldson seeks to increase female representation in leadership roles to 35%, promote community engagement with a target of $13.5 million in charitable giving, and achieve year-over-year safety improvements. These initiatives reflect the company’s commitment to environmental, social, and governance (ESG) factors.

Positive

• Targeting a 42% reduction in greenhouse gas emissions by 2030 from 2021 levels.
• Aiming for zero life-changing employee events by 2030, enhancing workplace safety.
• Striving for 35% female representation in leadership roles by 2030, promoting diversity.
• Planning to increase charitable contributions to $13.5 million by 2030, benefiting community education.

Negative

• None.

Climate action and improved gender representation part of Filtration for a Thriving Future strategy

MINNEAPOLIS--(BUSINESS WIRE)-- Donaldson Company, Inc. (NYSE:DCI), a leading worldwide manufacturer of innovative filtration products and solutions, today announced new 2030 goals that include reducing greenhouse emissions, improving gender and racial/ethnic representation, protecting the health and safety of employees, and positively impacting communities as part of its new sustainability strategy – Filtration for a Thriving Future. The new strategy and 2030 ambitions reflect Company investments to prioritize, pursue and advance its environmental, social and governance (ESG) efforts. Donaldson released the new strategy and ambitions as part of its fiscal year 2022 Sustainability Report.

“I am extremely proud of the progress we have made toward our ambitions, including significant reductions in greenhouse gas emissions, improving our safety performance and advancing our efforts to foster a diverse and inclusive culture,” said Tod Carpenter, chairman, president and chief executive officer. “We continue to deliver and grow a product portfolio that helps create a cleaner world and enables sustainable outcomes for our customers. I look forward to continuing progress with the introduction of our sustainability strategy, Filtration for a Thriving Future.”

Donaldson Company’s Filtration for a Thriving Future sustainability strategy includes the following fiscal year 2030 strategic ambitions:

1. Greenhouse Gas Emissions: Donaldson is committed to helping mitigate climate change. The Company is targeting an absolute reduction of its Scope 1 and 2 greenhouse gas emissions by 42% by the end of fiscal year 2030 from a fiscal year 2021 baseline. This ambition, along with the execution roadmap, is science-based and aligns with the Intergovernmental Panel on Climate Change (IPCC) 1.5°C global warming scenario.
2. Employee Health & Safety: Donaldson is committed to providing safe and healthy workplaces. The Company aims to have year-over-year reductions in life-changing events and consistently have zero life-changing events by the end of fiscal year 2030.
3. Diversity, Equity & Inclusion: Donaldson believes having a globally diverse and inclusive culture and we know embracing the uniqueness of each individual drives innovation and helps meet customer needs. The Company is committed to advancing opportunity and equity in the workplace and aspires to recruit, retain, develop and promote a workforce that reflects the diversity of the communities in which it works. Donaldson aims to increase the number of women in global leadership positions to 35% by the end of fiscal 2030 starting from a January 2023 baseline. The Company strives to make progress toward gender parity and to improve racial and ethnic representation in leadership positions.
4. Community Engagement & Giving: Donaldson is committed to positively impacting our communities through education. The Company aims to increase charitable giving through the Donaldson Foundation by 25% every four years, giving cumulatively at least $13.5 million from fiscal year 2022 to fiscal year 2030, to organizations within Donaldson’s communities with a focus on meeting educational needs.

Donaldson’s 2030 Sustainability Ambitions build upon the Company’s prior sustainability achievements. Several of the fiscal year 2022 accomplishments, as further highlighted in Donaldson’s Sustainability Report, include:

• exceeding the Company’s fiscal year 2022 Scope 1 and 2 GHG emissions intensity goal by 13.1 percentage points for a total reduction of 18.1% in GHG emissions intensity (mt CO₂e/hours worked) compared to a fiscal year 2019 baseline.
• donating $1.2 million through the Donaldson Foundation to benefit communities through a focus on educational initiatives.
• achieving Bronze status for sustainability management from EcoVadis, a respected sustainability ratings provider.
• issuing the first Sustainability Accounting Standards Board (SASB) and Task Force on Climate-related Financial Disclosures (TCFD) reports.
• aligning the Company’s aspirations and ESG efforts to the Sustainable Development Goals (SDGs).

Learn more about Donaldson’s 2030 Sustainability Ambitions and read its fiscal year 2022 Sustainability Report at www.Donaldson.com.

About Donaldson Company, Inc.

Founded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Our diverse, skilled employees at over 140 locations on six continents partner with customers—from small business owners to the world’s biggest OE brands—to solve complex filtration challenges. Discover how Donaldson is Advancing Filtration for a Cleaner World at www.Donaldson.com.

Statements in this release regarding future events and expectations, such as ambitions, plans, goals and projections relating to the Company’s sustainability strategy and operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are identified by words or phrases such as “ambition,” “goal,” “target,” “aim,” “strive” and similar expressions. These forward-looking statements speak only as of the date such statements are made and are subject to risks and uncertainties that could affect the Company’s performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed. These factors include, but are not limited to, economic, industrial and governmental developments that may impact our operations. These and other factors are described in Part I, Item 1A, “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2022. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230404005727/en/

Sarika Dhadwal (952) 887-3753

Sarika.Dhadwal@Donaldson.com

Source: Donaldson Company, Inc.

FAQ

What are Donaldson Company's new sustainability goals for 2030?

Donaldson aims to reduce greenhouse gas emissions by 42%, achieve zero life-changing events, increase female leadership to 35%, and raise charitable donations to $13.5 million by 2030.

How does Donaldson plan to improve gender diversity in leadership?

Donaldson is committed to increasing the percentage of women in global leadership positions to 35% by the end of fiscal 2030, starting from January 2023.

What is Donaldson's target for greenhouse gas emissions by 2030?

Donaldson targets a 42% absolute reduction in Scope 1 and 2 greenhouse gas emissions by the end of fiscal year 2030 from a fiscal year 2021 baseline.

What community engagement goals has Donaldson set?

Donaldson aims to increase charitable giving by 25% every four years, targeting at least $13.5 million from fiscal year 2022 to fiscal year 2030.

What safety goals has Donaldson Company established?

Donaldson aims for year-over-year reductions in life-changing events, with the goal of achieving zero such events by the end of fiscal year 2030.