Flex Releases its 2024 Sustainability Report

Rhea-AI Summary

Flex (NASDAQ: FLEX) has released its 2024 sustainability report, showcasing the company's global sustainability performance and progress for 2023. The report highlights Flex's commitment to its 2030 sustainability strategy, focusing on minimizing environmental impact, creating a safe and inclusive work environment, investing in communities, driving ethical practices, and accelerating a sustainable value chain.

Key accomplishments in 2023 include:

• 33% decrease in absolute scope 1 and 2 greenhouse gas emissions from 2019 baseline
• 125% of electricity usage powered by renewable energy
• 20% reduction in safety incident rate year-over-year
• 51% of preferred suppliers and 80% of specified customers had GHG reduction and science-based targets

Flex received several recognitions for its sustainability efforts, including the 2023 Manufacturer of the Year Award and Ethisphere's World's Most Ethical Company® recognition.

AUSTIN, Texas, Sept. 12, 2024 /PRNewswire/ -- Flex (NASDAQ: FLEX) today published its 2024 sustainability report, highlighting the company's global sustainability performance and progress from calendar year 2023. Flex's 2030 sustainability strategy, goals and initiatives focus on minimizing the company's environmental impact, creating a safe, inclusive, and respectful work environment, investing in communities, driving ethical practices with transparency, and accelerating a more sustainable value chain in partnership with customers and suppliers.

View Flex's 2024 sustainability report prepared in accordance with the Global Reporting Initiative (GRI) Standards: https://flex.com/downloads/2024-sustainability-report 

"Taking meaningful steps forward on our sustainability journey and toward our goals is made possible through the contributions of our talented, passionate global workforce and valued partnerships with our customers and suppliers," said Kyra Whitten, Senior Vice President, Corporate Marketing, Communications, and Sustainability at Flex. "As an advanced, end-to-end global manufacturer, we remain committed to embedding sustainability into our practices as we design, source, build, deliver and manage our customers' products."

2023 sustainability accomplishments

• 33 percent decrease in absolute scope 1 and 2 greenhouse gas emissions (GHG) from our 2019 baseline¹
• 25 percent of electricity usage powered by renewable energy²
• 100 percent of major sites³ continued to partner with a local non-governmental organization
• 20 percent reduction in safety incident rate year-over-year
• 51 percent of preferred suppliers and 80 percent of specified customers⁴ had greenhouse gas emissions reduction and science-based targets, respectively

Flex was also recognized for its sustainability leadership and performance, receiving a 2023 Manufacturer of the Year Award from the Manufacturing Leadership Council and National Association of Manufacturers for best-in-class achievement and transformational leadership to drive a new era of advanced, sustainable manufacturing, Ethisphere's World's Most Ethical Company® recognition for the second year in a row, and a FT-Nikkei Statista Asia-Pacific Climate Leader recognition, among others. Additionally, the company maintained an A- CDP score for Climate Change and an AA rating from Morgan Stanley Capital International (MSCI), acknowledging global industry leadership in managing financially relevant sustainability risks and opportunities. 

About Flex

Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

Contacts
Investors & Analysts
David Rubin
Vice President, Investor Relations
(408) 577-4632
David.Rubin@flex.com

Media & Press
Jessica Anderson
Director, Corporate Integrated Marketing & Communications
(408) 577-4789
Jessica.Anderson@flex.com

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws. All statements in this press release other than statements of historical or current facts, including statements regarding our future business expectations and our environmental and other sustainability plans and goals and related timeframes, are forward-looking. Because these forward-looking statements are subject to risks and uncertainties, actual results could differ materially from the expectations expressed in the forward-looking statements. Important factors that could cause actual results to differ materially from the expectations reflected in the forward-looking statements include those described in Item 1A, "Risk Factors" and Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024, and in our subsequent filings with the U.S. Securities and Exchange Commission. In addition, new risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risk factors on our business. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. We undertake no obligation to update any forward-looking statements, which speak only as of the date they are made.

¹ The target boundary includes biogenic emissions and removals from bioenergy feedstocks.
² Percent of renewable energy is considering purchased and on-site generation divided by the total of electricity used for tracking sites.
³ Sites with more than 1,000 employees.
⁴ Flex committed that 70% of customers as measured by emissions covering purchased goods and services, capital goods, and use of sold products will have science-based targets by 2025.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/flex-releases-its-2024-sustainability-report-302245900.html

SOURCE Flex

FAQ

What are the key sustainability achievements of Flex (FLEX) in 2023?

Flex achieved a 33% decrease in absolute scope 1 and 2 greenhouse gas emissions from 2019 baseline, powered 125% of electricity usage with renewable energy, reduced safety incident rate by 20% year-over-year, and ensured 51% of preferred suppliers and 80% of specified customers had GHG reduction and science-based targets.

How has Flex (FLEX) been recognized for its sustainability efforts in 2023?

Flex received the 2023 Manufacturer of the Year Award from the Manufacturing Leadership Council and National Association of Manufacturers, Ethisphere's World's Most Ethical Company® recognition for the second year in a row, and a FT-Nikkei Statista Asia-Pacific Climate Leader recognition.

What are the main focus areas of Flex's (FLEX) 2030 sustainability strategy?

Flex's 2030 sustainability strategy focuses on minimizing environmental impact, creating a safe and inclusive work environment, investing in communities, driving ethical practices with transparency, and accelerating a sustainable value chain in partnership with customers and suppliers.

How much of Flex's (FLEX) electricity usage was powered by renewable energy in 2023?

In 2023, Flex reported that 125% of its electricity usage was powered by renewable energy.