Hillenbrand Releases 2023 Sustainability Report

Rhea-AI Summary

Hillenbrand published its fifth annual Sustainability Report on May 23, 2024. The report showcases the company's achievements in sustainability, product innovation, and transparency. It discloses three years of Scope 1, Scope 2, and 15 categories of Scope 3 GHG emissions data. Key highlights include increased use of renewable energy, enhanced supplier standards, and new safety frameworks. The report aligns with the U.N. Global Compact, U.N. SDGs, GRI Standards, and SASB framework. Hillenbrand's focus on sustainability is seen through its product integration, double materiality assessment, and emphasis on innovation.

Positive

• Increased use of renewable energy across operations.
• Disclosed three years of Scope 1 and Scope 2 GHG emissions data, along with 15 categories of Scope 3 emissions.
• Enhanced supplier standards and expanded human rights policies.
• New safety frameworks and a culture focused on safety for all associates.
• Alignment with the Task Force on Climate-related Financial Disclosures (TCFD).
• Focus on product innovation and integration of new brands impacting sustainability in key end-markets.

Negative

• No specific financial performance data provided in the report.
• Potential increased costs associated with implementing new safety frameworks and supplier standards.
• The report's heavy focus on sustainability may raise concerns about the balance with profitability.

• Highlights accomplishments in our sustainability journey and focuses on product innovation
• Continues transparency by including additional data around key environmental metrics like water and waste
• Discloses three years of Scope 1 and Scope 2 greenhouse gas (GHG) emissions data and 15 Scope 3 categories

BATESVILLE, Ind., May 23, 2024 /PRNewswire/ -- Hillenbrand, Inc. (the "Company") (NYSE: HI), a leading global provider of highly-engineered processing equipment and solutions, published its fifth annual Sustainability Report, highlighting the Company's advancement of key sustainability-related topics and attention to innovation.

"Our Sustainability Report keenly focuses on our industrial products that positively impact the world around us," said Kim Ryan, President and Chief Executive Officer of Hillenbrand. "The report also incorporates all new acquisitions while increasing transparency in our reporting through information about our performance in environment, health and safety, and human resources. Additionally, our report has a significant focus on product innovation that advances both sustainability and our company's Purpose, 'Shape What Matters for Tomorrow™.'" 

The report was published as part of Hillenbrand's commitment as a signatory to the U.N. Global Compact (UNGC), including alignment to the U.N. Sustainable Development Goals (UN SDGs), and is prepared in accordance with the Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board (SASB) framework.

Tory Flynn, Chief Sustainability Officer and Vice President of Corporate Affairs, noted that 2023 was the first year Hillenbrand had insights into all three scopes of its emissions.

"We gained new insights into the emissions from our equipment and the impact of those emissions on our customers' operations," Ms. Flynn said. "We expanded the use of renewable energy across our operations. Additionally, results from our first double materiality assessment in 2023 helped transform our cross-functional working groups to focus on topics that are most important to our stakeholders, which now include innovation and a critical focus on our supply chain."

Additional highlights from the report:

• Showcases product innovation and integration of new brands and how they impact sustainability within key end-markets
• Increases rigor around supplier standards and expanded human rights policies
• Sets new framework for foundational safety standards and culture focused on safety for all associates
• Begins alignment with the Task Force on Climate-related Financial Disclosures (TCFD)

The full report, along with more information about the Company's sustainability program, can be viewed at hillenbrand.com/sustainability.

About Hillenbrand 
Hillenbrand (NYSE: HI) is a global industrial company that provides highly engineered, mission-critical processing equipment and solutions to customers in over 100 countries around the world. Our portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. Guided by our Purpose — Shape What Matters For Tomorrow™ — we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders. To learn more, visit: www.hillenbrand.com.

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SOURCE Hillenbrand

FAQ

What did Hillenbrand disclose in its 2023 Sustainability Report?

Hillenbrand disclosed three years of Scope 1 and Scope 2 GHG emissions data, 15 categories of Scope 3 emissions, and highlighted achievements in renewable energy use and enhanced supplier standards.

When was Hillenbrand's fifth annual Sustainability Report published?

Hillenbrand's fifth annual Sustainability Report was published on May 23, 2024.

How is Hillenbrand increasing transparency in its sustainability efforts?

Hillenbrand is increasing transparency by disclosing detailed GHG emissions data, expanding human rights policies, and aligning its report with the U.N. Global Compact, GRI Standards, and SASB framework.

What are some key highlights from Hillenbrand's 2023 Sustainability Report?

Key highlights include increased use of renewable energy, enhanced supplier standards, new safety frameworks, and product innovation impacting sustainability.

What frameworks and standards is Hillenbrand's Sustainability Report aligned with?

The report is aligned with the U.N. Global Compact, U.N. Sustainable Development Goals (UN SDGs), Global Reporting Initiative (GRI) Standards, and the Sustainability Accounting Standards Board (SASB) framework.