STOCK TITAN

Emerson Named 2023 ENERGY STAR® Partner of the Year for Energy Management

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

Emerson has been awarded the 2023 ENERGY STAR Partner of the Year Award for its commitment to energy management and environmental protection. The award recognizes the company for tracking energy use across 200 global sites and achieving significant reductions: a 45% decrease in greenhouse gas emissions and a 23% reduction in energy intensity since 2018. Emerson aims for net zero emissions by 2030 and has implemented renewable energy initiatives across various countries, including Brazil and Hungary. The company continues to foster sustainability through employee engagement and partnerships to drive decarbonization efforts.

Positive
  • Achieved a 45% reduction in scope 1 and 2 greenhouse gas emissions since 2018.
  • Recognized as ENERGY STAR Partner of the Year, highlighting strong energy management practices.
  • Set a target for net zero greenhouse gas emissions across global operations by 2030.
  • Implemented renewable electricity sourcing, contributing to reductions in operational carbon footprint.
Negative
  • None.

Award recognizes company's progress toward its net zero emissions targets

ST. LOUIS, March 28, 2023 /PRNewswire/ -- Global technology and software company Emerson (NYSE: EMR) has received the 2023 ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. The Energy Management award recognizes companies that have superior energy management programs and demonstrated their commitment to environmental protection and continuous improvement in their buildings and facilities.

Emerson has tracked and benchmarked energy usage at more than 200 global sites that are designated 'major energy-consuming facilities,' as well as over 500 other offices and service centers. Over the past four years, Emerson has conducted dozens of Energy Treasure Hunts and implemented an array of energy-savings measures resulting in a 45% reduction in scope 1 and 2 greenhouse house gas emissions and a 23% reduction in energy intensity compared to a 2018 baseline.   

"This award recognizes the significant strides made by Emerson's 'Greening Of' initiative to improve our environmental sustainability performance and achieve net zero greenhouse gas emissions across our global operations by 2030," said Mike Train, Emerson's chief sustainability officer. "We are on a strong path forward and will continue to drive an aggressive sustainability agenda to create tangible change not only for our company, but also for the broader communities we serve."

In addition to energy efficiency programs, Emerson also has focused on sourcing renewable electricity and constructing onsite generation systems at facilities around the globe, including Brazil, Hungary, China and the United States. Recently, the company installed a new rooftop solar array at its Boulder, Colo. campus to generate over 400 MWh of clean power for the site's direct consumption each year. Additionally, major Emerson operations in Missouri have transitioned to sourcing 80,000 MWh of renewable power each year from wind farms in neighboring Kansas, driving significant reductions in the company's operational carbon footprint.

"As we accelerate historic efforts to address climate change, public-private partnerships will be essential to realizing the scale of our ambition," said EPA Administrator Michael S. Regan. "I applaud this year's ENERGY STAR award winners for working with EPA to deliver a clean energy future that saves American consumers and businesses money and creates jobs."

As part of its sustainability initiatives, Emerson collaborates with other ENERGY STAR partners to benchmark progress and discuss program features such as Energy Treasure Hunts and supplier environmental engagement. The company hosts Greening Together Summits for its key suppliers to discuss how to collectively partner to drive decarbonization programs.

Emerson also has engaged with its employees through its "Greening as One" employee awareness campaign to share actions employees can take to drive progress toward corporate sustainability goals. Since 2021, Emerson has sponsored an annual Environmental Sustainability Award given to facility or employee teams that have gone above and beyond in driving tangible reductions in energy or carbon emissions.

To learn more about Emerson's net zero targets and see the company's latest Environmental, Social and Governance Report, visit Emerson.com/ESG.

About Emerson
Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world's essential industries. Through its leading automation portfolio, including its majority stake in AspenTech, Emerson helps hybrid, process and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals. For more information, visit Emerson.com.

About ENERGY STAR
ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500®—rely on their partnership with the U.S. Environmental Protection Agency (EPA) to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its partners helped American families and businesses avoid more than $500 billion in energy costs and achieve more than 4 billion metric tons of greenhouse gas reductions. More background information about ENERGY STAR's impacts can be found at https://www.energystar.gov/about/impacts.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/emerson-named-2023-energy-star-partner-of-the-year-for-energy-management-301782449.html

SOURCE Emerson

FAQ

What recognition did Emerson receive in 2023?

Emerson received the 2023 ENERGY STAR Partner of the Year Award for its superior energy management programs.

What are Emerson's greenhouse gas emission reduction achievements?

Emerson has achieved a 45% reduction in scope 1 and 2 greenhouse gas emissions and a 23% reduction in energy intensity since 2018.

What is Emerson's goal for net zero emissions?

Emerson aims for net zero greenhouse gas emissions across its global operations by 2030.

What renewable energy initiatives has Emerson implemented?

Emerson has sourced renewable electricity and constructed onsite generation systems in various countries, including the installation of a solar array in Boulder, Colorado.

Emerson Electric Co.

NYSE:EMR

EMR Rankings

EMR Latest News

EMR Stock Data

71.60B
568.57M
0.27%
80.14%
1.97%
Specialty Industrial Machinery
Electronic & Other Electrical Equipment (no Computer Equip)
Link
United States of America
ST LOUIS