H.B. Fuller Releases 2023 Sustainability Report

Rhea-AI Summary

H.B. Fuller, the world's largest pureplay adhesives company, has released its 2023 Sustainability Report, highlighting progress towards global sustainability goals. The company is setting new targets aligned with Science Based Targets Initiative (SBTi) standards and improving data collection and analysis.

Key achievements include:

• Creating six Sustainability Action Subcommittees
• Implementing software for Life Cycle Assessments
• Launching sustainable technologies across various markets
• Reducing Total Recordable Incident Rate by 35% since 2019
• Introducing Employee Voice, an AI-powered survey platform
• Investing in a global mentorship digital platform
• Supporting 186+ organizations through the H.B. Fuller Company Foundation

The report aligns with UN Sustainable Development Goals, Global Reporting Initiative standards, and the Sustainability Accounting Standards Board Index.

Focus remains on helping customers reach their sustainability goals

ST. PAUL, Minn.--(BUSINESS WIRE)-- H.B. Fuller Company (NYSE: FUL), the largest pureplay adhesives company in the world, today released its 2023 Sustainability Report, which outlines the company’s progress toward meeting its global sustainability goals.

In 2023, H.B. Fuller initiated work to set new sustainability targets in line with Science Based Targets Initiative (SBTi) standards. To support these new standards, the company took several meaningful steps to improve data collection and analysis while also responding to customers’ sustainability needs.

“At H.B. Fuller, sustainability is fundamental to our product innovation, central to improving our operational efficiency, and integrated in our values and culture,” said H.B. Fuller President and CEO Celeste Mastin. “Today, nearly 60% of H.B. Fuller’s new product development projects are focused on increasing the sustainability of our customers’ end products, and this heightened commitment to sustainable product innovation for our customers creates a ripple effect that benefits our employees, communities, shareholders, and the natural environment.”

The 2023 Sustainability Report details how H.B. Fuller is delivering on its sustainability commitments by:

• Creating six Sustainability Action Subcommittees representing multiple geographies and functions responsible for advancing environmental, social, and governance initiatives
• Implementing market-leading software to support Life Cycle Assessments (LCA) related to product footprint and climate change
• Launching several technologies enabling sustainable customer innovations across a wide range of end markets, including electric vehicles, solar, woodworking, technical textile, packaging, hygiene, and energy efficient buildings
• Reducing our Total Recordable Incident Rate (TRIR) by 35% since 2019 even though several new companies have been acquired
• Launching Employee Voice, a new “pulse” survey platform that employs machine learning and artificial intelligence (AI) to help us more effectively extract valuable insights from our employees so we can listen, learn, and adapt. The new platform was launched after years of performing extensive employee engagement surveys.
• Investing in a new global mentorship digital platform that supported nearly 400 mentorship pairings across the company
• Providing financial support to more than 186 organizations through the H.B. Fuller Company Foundation and supporting employee volunteerism that benefitted local communities in 27 countries

H.B. Fuller continues to build on its commitment to the United Nations Sustainable Development Goals (UN SDGs), align its disclosures to the industry-leading Global Reporting Initiative (GRI) standards, and report under the Sustainability Accounting Standards Board (SASB) Index.

Learn more about sustainability at H.B. Fuller and access the 2023 Sustainability Report here.

About H.B. Fuller:

As the largest pureplay adhesives company in the world, H.B. Fuller’s (NYSE: FUL) innovative, functional coatings, adhesives and sealants enhance the quality, safety and performance of products people use every day. Founded in 1887, with 2023 revenue of $3.5 billion, our mission to Connect What Matters is brought to life by more than 7,000 global team members who collaborate with customers across more than 30 market segments in over 140 countries to develop highly specified solutions that enable customers to bring world-changing innovations to their end markets. Learn more at www.hbfuller.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240716958925/en/

Kim Stone

Corporate PR

Kim.Stone@hbfuller.com

713-515-1791

Source: H.B. Fuller Company

FAQ

What are the key highlights of H.B. Fuller's 2023 Sustainability Report?

H.B. Fuller's 2023 Sustainability Report highlights progress in setting new SBTi-aligned targets, creating Sustainability Action Subcommittees, implementing Life Cycle Assessment software, launching sustainable technologies, reducing incident rates, and introducing employee engagement initiatives.

How is H.B. Fuller (FUL) addressing customer sustainability needs?

H.B. Fuller (FUL) is focusing on sustainable product innovation, with nearly 60% of new product development projects aimed at increasing the sustainability of customers' end products across various markets, including electric vehicles, solar, woodworking, and packaging.

What steps has H.B. Fuller (FUL) taken to improve employee engagement in 2023?

H.B. Fuller (FUL) launched Employee Voice, an AI-powered survey platform, and invested in a global mentorship digital platform that supported nearly 400 mentorship pairings across the company to improve employee engagement in 2023.

How has H.B. Fuller (FUL) improved its safety record since 2019?

H.B. Fuller (FUL) has reduced its Total Recordable Incident Rate (TRIR) by 35% since 2019, despite acquiring several new companies during this period.

What international standards does H.B. Fuller's 2023 Sustainability Report align with?

H.B. Fuller's 2023 Sustainability Report aligns with the United Nations Sustainable Development Goals (UN SDGs), Global Reporting Initiative (GRI) standards, and the Sustainability Accounting Standards Board (SASB) Index.