nVent's New ESG Report Highlights 2021 Progress and New Goals
Report details meaningful progress within its three focus areas of People, Products and Planet
“At nVent, we are building a more electrified and sustainable world, driven by our commitment to ESG and continuous improvement,” said nVent CEO
2021 ESG Report Highlights
nVent made significant progress in several key areas of its ESG strategy. These accomplishments include:
-
Further increasing Board diversity—
70% of its Board members are diverse** -
Increasing representation of women in management globally and the racial diversity of its
U.S. population by one percentage point each -
Reaching
75% of its active New Product Introduction funnel with a positive ESG impact -
Reducing Scope 1 and Scope 2 CO2 emissions by
15% * -
Increasing renewable energy use to
12% , up from2% *
New long-term goals
In this report, nVent is introducing new long-term Products goals that will help it continue to deliver solutions that make a positive impact in its Products pillar ESG categories: Eco-Friendly Designs, Eco-Friendly Materials and End-User Safety. These goals are:
-
Reach >
90% of products in its active New Product Introduction funnel with a positive impact in at least one of its three Products ESG categories by 2025 -
Make product environmental data
100% digitally accessible to customers by 2025
In its Planet pillar, nVent is setting more ambitious goals to reflect the significant progress its teams have made in driving sustainability across the company since setting its goals last year. The new goals are:
-
Achieve a
50% reduction in Scope 1 and Scope 2 greenhouse gas emissions by 2030 -
Reach >
25% renewable energy consumption by 2030
A full copy of the 2021 ESG Report can be downloaded at nVent.com/about-nVent/ESG.
*Improvement relative to 2020
**Gender and racial/ethnic diversity as of
About nVent
nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in
nVent, CADDY, ERICO,
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “forecasts,” “should,” “would,” “positioned,” “strategy,” “future,” “are confident,” or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All projections in this press release are also forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include adverse effects on our business operations or financial results, including due to the impact of the COVID-19 pandemic and potential impairment of goodwill and trade names; overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions; competition and pricing pressures in the markets we serve, including the impacts of tariffs; the strength of housing and related markets; volatility in currency exchange rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; inability to mitigate material and other cost inflation; risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging and transportation; increased risks associated with operating foreign businesses, including risks associated with the conflict between
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Media Contact
Director,
nVent
763.204.7857
Stacey.Wempen@nVent.com
Investor Contact
Vice President, Investor Relations
nVent
763.204.7750
Tony.Riter@nVent.com
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