Ferguson Publishes FY2023 ESG Report ‘Building Momentum, Sustainably’

Rhea-AI Summary

Ferguson plc publishes its FY2023 ESG Report, highlighting progress on its ESG strategy and commitment to sustainability.

Positive

• Ferguson lowered its total recordable injury rate by 14% and its lost time rate by 21% in the fiscal year.
• The company achieved a 33% reduction in revenue intensity of GHG emissions since 2019/2020.
• Ferguson signed a 65-megawatt Virtual Power Purchase Agreement to generate clean wind power.
• The company expanded its efforts to build a diverse talent pipeline and support women in the plumbing industry.

Negative

• None.

WOKINGHAM, England--(BUSINESS WIRE)-- Ferguson plc (NYSE: FERG; LSE: FERG) today published its fiscal year (“FY”) 2023 ESG Report, outlining the Company’s progress on its ESG strategy and vision to minimize the environmental impact of its operations and foster a culture that is safe, inclusive, accepting and engaging for all its associates.

“ESG may be how it’s described today, but Ferguson has lived these values for the past 70 years,” said Kevin Murphy, Ferguson CEO. “We help take care of our people and the planet, and aim to run a sustainable business our partners can count on for years to come.”

Key highlights from the FY2023 ESG Report include:

• Remained steadfast in its commitment to its First in Safety culture, lowering its total recordable injury rate (TRIR) by 14% and its lost time rate (LTR) by 21% in the fiscal year.
• Achieved 33% revenue intensity reduction (per million USD of revenue) in Scope 1 and 2 GHG emissions since 2019/2020 baseline year by holding absolute emissions steady against an increasing revenue.
• Signed a 65-megawatt Virtual Power Purchase Agreement (VPPA) with ENGIE North America, which is expected to generate enough clean wind power to match a significant portion of Ferguson’s annual electricity use in the United States and Canada.
• Advanced Ferguson’s Environmental Product Strategy, furthering its ability to help its customers achieve their sustainability goals through products and solutions that span nine customer groups.
• Expanded its efforts to build a diverse talent pipeline, launching three new learning programs for female leaders.
• Demonstrated its commitment to building a sustainable skilled trades pipeline by becoming a founding sponsor of Women in Plumbing and Piping (WiPP), a nonprofit dedicated to empowering and supporting women in the plumbing industry.

“Our most significant opportunity is to foster greater collaboration across our customer groups – bringing together our core strengths,” added Murphy. “By expanding our role throughout the entire project lifecycle we can solve big problems and help our customers and the communities prepare for a more sustainable future.”

Learn more about Ferguson’s ESG strategy and read the FY2023 ESG report at corporate.ferguson.com/ESG.

About Ferguson

Ferguson plc (NYSE: FERG; LSE: FERG) is a leading value-added distributor in North America providing expertise, solutions and products from infrastructure, plumbing and appliances to HVAC, fire, fabrication and more. We exist to make our customers’ complex projects simple, successful and sustainable. Ferguson is headquartered in the U.K., with its operations and associates solely focused on North America and managed from Newport News, Virginia. For more information, please visit corporate.ferguson.com or follow us on LinkedIn linkedin.com/company/ferguson-enterprises.

Cautionary note on forward-looking statements

Certain information included in this announcement is forward-looking, including within the meaning of the Private Securities Litigation Reform Act of 1995, and involves risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed or implied by forward-looking statements. Forward-looking statements cover all matters which are not historical facts and speak only as of the date on which they are made. Forward-looking statements can be identified by the use of forward-looking terminology such as “will,” “aim,” “expects” or other variations or comparable terminology.

Many factors could cause actual results or our plans to differ materially from those in such forward-looking statements, including, but not limited to: the risk that the initiatives and priorities described in this announcement may be delayed, cancelled, suspended or terminated; weakness in the economy, market trends, uncertainty and other conditions in the markets in which we operate, and other factors beyond our control, including disruption in the financial markets and any macroeconomic or other consequences of the current conflict in Ukraine or potential conflict between China and Taiwan; failure to rapidly identify or effectively respond to direct and/or end customers’ wants, expectations or trends, including costs and potential problems associated with new or upgraded information technology systems or our ability to timely deploy new omni-channel capabilities; unsuccessful execution of our operational strategies; the costs and risk exposure relating to environmental, social and governance matters, including sustainability issues, regulatory or legal requirements, and disparate stakeholder expectations; adverse impacts caused by a public health crisis; and other risks and uncertainties set forth under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on September 26, 2023, and in other filings we make with the SEC in the future. Forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Other than in accordance with our legal or regulatory obligations, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231011379146/en/

Investor Inquiries

Brian Lantz

Vice President, IR and Communications

+1 224 285 2410

Brian.lantz@ferguson.com

Pete Kennedy

Director, Investor Relations

+1 757 603 0111

Peter.kennedy@ferguson.com

Media Inquiries

Christine Dwyer

Senior Director, Communications and PR

+1 757 469 5813

Christine.dwyer@ferguson.com

Source: Ferguson plc

FAQ

What are the highlights of Ferguson's FY2023 ESG Report?

Ferguson lowered its injury rates, achieved a reduction in GHG emissions, signed a power purchase agreement, and expanded efforts to support women in the plumbing industry.

What is Ferguson's commitment to sustainability?

Ferguson aims to minimize its environmental impact, run a sustainable business, and help customers achieve their sustainability goals.

What initiatives did Ferguson undertake to support diversity and inclusion?

Ferguson launched learning programs for female leaders and became a founding sponsor of Women in Plumbing and Piping (WiPP).

How did Ferguson reduce its GHG emissions?

Ferguson achieved a 33% reduction in revenue intensity of GHG emissions since 2019/2020.