Pentair Showcases Positive Business Impacts in New 2021 Corporate Responsibility Report

Rhea-AI Summary

Pentair (NYSE: PNR) has released its 2021 Corporate Responsibility Report, showcasing its commitment to sustainability and social responsibility. Key highlights include an 11.8% reduction in Scope 1 and 2 greenhouse gas emissions and a 12% increase in water withdrawal due to growth. The report notes that 73% of solutions emphasize energy efficiency and 70% support water efficiency. Pentair has achieved significant representation goals for women and people of color within its workforce.

Positive

• Achieved an 11.8% reduction in Scope 1 and 2 GHG emissions compared to the 2019 baseline.
• 73% of solutions supported energy efficiency.
• 70% of solutions supported water efficiency.
• Increased representation of women in the workforce to 32% and in leadership positions to 31%.
• Received an MSCI ESG Rating of AA.

Negative

• Water withdrawal increased 12% compared to the 2019 baseline, which may raise concerns about sustainability.

LONDON--(BUSINESS WIRE)-- Pentair, (NYSE: PNR) a leading provider of water treatment and sustainable solutions, today released its 2021 Corporate Responsibility Report, reporting on its mission to provide smart, sustainable solutions to make the most of life’s essential resources. The new report highlights progress towards Pentair’s Social Responsibility Strategic Targets set in 2020 that are focused in the areas that matter to its employees, customers and shareholders to advance the positive impact its business has on both people and the planet.

Pentair today released its 2021 Corporate Responsibility Report. (Photo: Business Wire)

“At Pentair, the decisions we make, products we create, solutions we offer and partnerships we form are opportunities to make the world better,” said John L. Stauch, Pentair President and CEO. “We take this responsibility seriously as we believe that making life better for people and our planet is essential.”

With a long history of commitment to sustainability, Pentair is built on delivering smart, sustainable, energy- and resource-efficient products and solutions that use fewer resources and transform waste into value. Some of these sustainable innovations include turning organic waste into renewable natural gas, capturing and upgrading carbon for reuse, and utilizing advanced membrane technologies so water can be reused or safely returned to the environment.

In 2021, Pentair made progress on its Social Responsibility Strategic Targets, including the following highlights:

• Carbon Footprint Reduction Progress Highlights: Pentair’s total Scope 1 and 2 greenhouse gas (GHG) emissions in 2021 decreased 11.8% compared to the 2019 baseline.
• Water Reduction Progress Highlights: In 2021, Pentair’s absolute water withdrawal increased 12% compared to the 2019 baseline due to organic growth. Water withdrawal intensity decreased 5%.
• Progress Design for Sustainability Progress Highlights: In 2021, Pentair enhanced its product innovation process for increased focus on environmental sustainability by developing a product sustainability scorecard. This scorecard is now integrated as a standard component in its product commercialization process.
• Responsible Supply Chain Progress Highlights: In 2021, Pentair enhanced its Supplier Code of Conduct (the “Supplier Code”), placing an increased focus on social and environmental issues and how suppliers manage ESG risks within their operations and supply chain. Pentair then launched this enhanced Supplier Code to the company’s global supply base.
• Inclusion & Diversity Progress Highlights: Pentair increased representation of women in its workforce to 32% (from 30% in 2019), and women in leadership positions increased to 31% (from 28% in 2019) in 2021. The company increased U.S. people of color (POC) representation to 43% (from 39% in 2019) of its U.S. workforce and 26% (from 23% in 2019) of its U.S. leadership positions.

Pentair engaged with a third party to assure the GHG, water, health and safety, and diversity, inclusion and equity data in the 2021 Corporate Responsibility Report.

“I’m proud of the progress Pentair has made in 2021, and the positive impacts our business has had on the planet and the people with whom we work, both at the Company and in the community at large,” said Karla Robertson, Executive Vice President, General Counsel, Secretary, and Chief Social Responsibility Officer. “Our progress was made possible by the amazing energy and dedication of our employees and further demonstrates our continued commitment to be a leading socially responsible company. We are looking forward to furthering to scale our impact through our continued work with our partners, suppliers and stakeholders.”

The positive impact of Pentair’s products and solutions in 2021 is notable, as further highlighted within the Report:

• 73% of solutions supported energy efficiency; 70% supported water efficiency
• Drinking water filtration capacity helped avoid 8,956,839,073 single-use plastic bottles
• Supplied CO2 Recovery Solutions with capacity to recover 7.48 million MT annually; supported Beverage Customers with capacity to replace 3 million MT CO2
• Recognized as ENERGY STAR Partner of the Year, consecutively since 2013
• ESG Risk Rating placed Pentair in the top 26% of the Machinery industry group assessed by Sustainalytics*
• Received an MSCI ESG Rating of AA
• Awarded a Silver medal by Ecovadis, placing Pentair in the top 25% of all companies assessed

To learn more about Pentair’s Social Responsibility Strategic Targets and its 2021 Corporate Responsibility Report, visit Pentair.com/Impact. To share in Pentair’s mission to make life’s essential resources better, follow @Pentair.

*Copyright @2022 Sustainalytics. All rights reserved. This report contains information developed by Sustainalytics (https://www.sustainalytics.com/). Such information and data are proprietary of Sustainalytics and/or its third party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.

ABOUT PENTAIR PLC

At Pentair, we inspire people to move, improve and enjoy life’s essential resources for happier, healthier lives. From our residential and business water solutions, to our sustainable innovations and applications, we deliver smart, sustainable solutions for life.

Pentair had revenue in 2021 of approximately $3.8 billion, and trades under the ticker symbol PNR. With approximately 11,250 global employees serving customers in more than 150 countries, we work to help improve lives and the environment around the world. To learn more, visit Pentair.com.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This 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,” “should,” “would,” “could,” “positioned,” “strategy,” “future” or words, phrases or terms of similar substance or the negative thereof, are 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, including the risk that we will be unable to execute our strategy because of market or competitive conditions. Additional information concerning these and other factors is contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2021. All forward-looking statements speak only as of the date of this release. Pentair plc assumes no obligation, and disclaims any obligation, to update the information contained in this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220426005430/en/

Jim Lucas

SVP, Treasurer, FP&A and Investor Relations

Tel.: 763-656-5575

E-mail: jim.lucas@pentair.com

Rebecca Osborn

Senior Manager, External Communications

Tel.: 763-656-5589

E-mail: rebecca.osborn@pentair.com

Source: Pentair

FAQ

What are the key findings in Pentair's 2021 Corporate Responsibility Report?

Pentair's report highlights a decrease in greenhouse gas emissions, increased focus on sustainability, and improved workforce diversity.

How much did Pentair reduce its carbon footprint in 2021?

Pentair reduced its total Scope 1 and 2 greenhouse gas emissions by 11.8% compared to the 2019 baseline.

What percentage of Pentair's solutions support energy efficiency?

73% of Pentair's solutions supported energy efficiency in 2021.

What improvements did Pentair make in diversity and inclusion in 2021?

Pentair increased the representation of women in its workforce to 32% and people of color to 43%.

What is Pentair's stock symbol?

Pentair trades under the stock symbol 'PNR'.