Fortune Brands Innovations Marks Progress and Opportunities Related to Positive Sustainable and Social Impacts in Newly Published 2023 ESG Report

Rhea-AI Summary

Fortune Brands Innovations (NYSE: FBIN) has released its 2023 ESG Report, showcasing its commitment to environmental, social, and governance practices. CEO Nicholas Fink highlighted the company's focus on sustainability, safety, connected products, and material conversion. Key achievements include a total recordable incident rate of less than 1.0, progress on emission goals, increased use of renewable energy, and new partnerships to promote water efficiency. The company has also taken steps to enhance diversity, equity, and inclusion, and continues to receive recognition for its ESG efforts. For more details, visit fbin.com/corporate-responsibility/esg-reporting/.

DEERFIELD, Ill.--(BUSINESS WIRE)-- Fortune Brands Innovations, Inc. (NYSE: FBIN or “Fortune Brands” or the “Company”), an industry-leading innovation company focused on creating smarter, safer and more beautiful homes and improving lives, today announced the release of its 2023 ESG Report, which documents the Company’s environmental, social and governance practices, initiatives and opportunities.

“Fortune Brands Innovations is geared to strategically pursue our biggest opportunities, including in areas where we see outsized growth potential, such as sustainability, safety, connected products and material conversion,” said Fortune Brands Chief Executive Officer Nicholas Fink. “Whether it’s helping people to save water with our game-changing ecosystem of smart products from Moen, protecting people at home or at work with products from Yale residential and Master Lock, using recycled inputs to manufacture composite decking from Fiberon, or reducing carbon emissions through energy and water saving products, we are a company that has success while benefitting people and our planet.”

Fink continued, “I am extremely enthusiastic about our opportunities for growth as our portfolio increasingly has positive impact on the world. Behind our brands, our associates are committed to serving our customers and consumers in an ethical, responsible and sustainable way. In short, we seek to do well while doing good.”

Fortune Brands continues to engrain ESG into its business in value-adding ways both to reduce risk and to take advantage of opportunities.

Recent ESG highlights include:

• Continued to exhibit strong safety performance, achieving a total recordable incident rate of less than 1.0, excluding businesses acquired in 2023
• Made progress on the Company’s emissions goals and is using more on-premises renewable energy
• New partnerships, including with insurance agencies, the Alliance for Water Efficiency and the California Water Efficiency Partnership to help expand reach of the Moen Flo Smart Water Monitor and Shutoff, a key contributor to the Mission Moen goal to help consumers save water
• Began work to improve our emissions data collection process and controls, helping Fortune Brands to move toward limited data assurance for Scope 1 and 2 emissions, and helping to prepare the Company for compliance with applicable U.S. and international sustainability regulations
• Continued to make progress with diversity, equity & inclusion initiatives - including launching new Employee Resource Groups - to attract and retain the best talent, and make and market innovative products to a wider range of consumers
• Continued to accrue accolades and recognition related to Fortune Brands’ work on ESG, brands, and innovation

To download Fortune Brands’ 2023 ESG Report or learn more about the Company’s ESG program, visit fbin.com/corporate-responsibility/esg-reporting/.

About Fortune Brands Innovations

Fortune Brands Innovations, Inc. (NYSE: FBIN), headquartered in Deerfield, Ill., is a brand, innovation and channel leader focused on exciting, supercharged categories in the home products, security and commercial building markets. The Company’s growing portfolio of brands includes Moen, House of Rohl, Aqualisa, Emtek, Therma-Tru, Larson, Fiberon, Master Lock, SentrySafe, Yale residential and August. To learn more about FBIN, its brands and environmental, social and governance (ESG) commitments, visit www.FBIN.com.

CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains certain “forward-looking statements” made within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations. Statements preceded by, followed by or that otherwise include the words “believes”, “positioned”, “expects”, “estimates”, “plans”, “look to”, “outlook”, “opportunity,” “confident,” “intend”, and similar expressions or future or conditional verbs such as “will”, “should”, “would”, “may” and “could” are generally forward-looking in nature and not historical facts. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on the current plans and expectations of our management. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those indicated in such statements factors discussed in our securities filings, including those identified in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 30, 2023, filed with the Securities and Exchange Commission. The forward-looking statements included in this release are made as of the date hereof, and except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this release.

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INVESTOR AND MEDIA CONTACT:

Leigh Avsec

847-484-4211

Investor.Questions@fbin.com

Source: Fortune Brands Innovations, Inc.

FAQ

What are the key highlights of Fortune Brands Innovations' 2023 ESG Report?

Key highlights include a recordable incident rate of less than 1.0, progress on emissions goals, increased on-premises renewable energy use, and new partnerships to promote water efficiency.

How is Fortune Brands Innovations (FBIN) promoting sustainability in 2023?

FBIN is promoting sustainability by using recycled materials for composite decking, reducing carbon emissions, and developing smart water-saving products like the Moen Flo Smart Water Monitor and Shutoff.

What partnerships has Fortune Brands Innovations (FBIN) formed for water efficiency?

FBIN has partnered with insurance agencies, the Alliance for Water Efficiency, and the California Water Efficiency Partnership to expand the reach of the Moen Flo Smart Water Monitor and Shutoff.

What progress has Fortune Brands Innovations (FBIN) made regarding emissions data in 2023?

FBIN has begun improving its emissions data collection process and controls, moving toward data assurance for Scope 1 and 2 emissions, in preparation for compliance with U.S. and international sustainability regulations.

What diversity initiatives has Fortune Brands Innovations (FBIN) implemented in 2023?

FBIN has launched new Employee Resource Groups to attract and retain talent and to market innovative products to a broader range of consumers.