Sherwin-Williams Issues 2021 Sustainability Report
CLEVELAND, June 14, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) has issued its 2021 Sustainability Report: Building on the Good, reflecting progress made in its environmental, social and governance (ESG) journey. The report is available at https://sustainability.sherwin-williams.com/doc/Sustainability_Report.
Sherwin-Williams is proud of its ESG track record and accomplishments. Recent Company achievements include:
- Published the Company's first report that aligns with the Task Force on Climate-Related Financial Disclosures (TCFD) framework
- Collected in 2021 more than 1.0 million gallons of paint for recycling through PaintCare®
- Reduced employee injury rate by more than
50% since 2015 - Implemented Sustainability by Design program across the enterprise, serving as our proactive, foundational process to aid the growth of our "sustainably advantaged products" portfolio
- Established a baseline for "sustainably advantaged products" and developed a plan for expanding this product portfolio
- Developed a structured process for measuring and assessing Scope 3 emissions
- Recognized by Forbes® Magazine as one of World's Best Employers and America's Best Employer for Diversity, New Graduates, Women and Veterans
- Strengthened communities through employee service on more than 120 nonprofit boards and financial support of more than 1,300 nonprofit organizations
- Recognized in 2021 by industry-leading groups, including Newsweek® America's Most Responsible Companies, Yahoo! Finance® Top ESG Stocks, Investor's Business Daily® Best ESG Companies (top 100), The Wall Street Journal® 250 Best Managed Companies and MSCI® ESG rating, which improved from "BBB" to "A"
"At Sherwin-Williams, corporate responsibility and sustainability are central to how we do business. We demonstrate our ongoing commitment to our employees, customers, communities, shareholders and other stakeholders through our continued efforts to develop and implement comprehensive policies, goals and programs in pursuit of our ESG objectives. We are Building on the Good," says John G. Morikis, Sherwin-Williams Chairman and Chief Executive Officer. "Our 2021 Sustainability Report reflects the progress we have made in pursuit of our goals and outlines the steps we are taking that reflect our commitment to continuous improvement in everything we do."
The year's Sustainability Report builds on the enhanced sustainability framework introduced in the 2020 report, focusing on three pillars: Environmental Footprint, Product Blueprint and Social Imprint. All three pillars sit on a strong foundation of Governance and Ethics and are described in the new report. In preparing this report, the Company referenced sustainability reporting frameworks, such as the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the TCFD. The 2021 Sustainability Report includes an appendix containing the Company's SASB Index disclosures, TCFD Report and Investor ESG Summary.
About The Sherwin-Williams Company
Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paint, coatings and related products to professional, industrial, commercial and retail customers. The Company manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® WaterSeal®, Cabot® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 5,000 Company-operated stores and facilities, while the Company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers and industrial distributors. The Sherwin-Williams Performance Coatings Group supplies a broad range of highly-engineered solutions for the construction, industrial, packaging and transportation markets in more than 120 countries around the world. Sherwin-Williams shares are traded on the New York Stock Exchange (symbol: SHW). For more information, visit www.sherwin.com.
Cautionary Statement Regarding Forward-Looking Information
This press release contains certain "forward-looking statements," as defined under U.S. federal securities laws. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "could," "plan," "goal," "target," "potential," "seek," "intend," "aspire" or "anticipate" or the negative thereof or comparable terminology. These forward-looking statements are based upon current expectations, predictions, estimates, assumptions and beliefs concerning future events and conditions. Readers are cautioned not to place undue reliance on any forward-looking statements. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company that could cause actual results to differ materially from such statements and from the Company's historical performance, results and experience. These risks, uncertainties and other factors include such things as: with respect to our ability to successfully meet our goals, targets and commitments presented in the 2021 Sustainability Report and elsewhere, including within the expected timeframe, changes in laws, regulations, prevailing standards or public policy, the alignment of the scientific community on measurement and reporting approaches, the complexity of commodity supply chains and the evolution of and adoption of new technology, including traceability practices, tools and processes; general business and economic conditions; the Company's ability to successfully integrate past and future acquisitions into its existing operations, as well as the performance of the businesses acquired; strengths of retail and manufacturing economies and the growth in the coatings industry; changes in the Company's relationships with customers and suppliers; changes in raw material availability and pricing; adverse weather conditions or natural disasters, including due to the impacts of climate change; public health crises, including the duration, severity and scope of the COVID-19 pandemic and the actions implemented by international, federal, state and local public health and governmental authorities to contain and combat COVID-19, which may exacerbate one or more of the aforementioned and/or other risks, uncertainties and factors more fully described in the Company's reports filed with the Securities and Exchange Commission (SEC); and other risks, uncertainties and factors described from time to time in the Company's reports filed with the SEC. Since it is not possible to predict or identify all of the risks, uncertainties and other factors that may affect future results, the above list should not be considered a complete list. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor Relations Contacts:
Jim Jaye
Senior Vice President, Investor Relations & Corporate Communications
216.515.8682
investor.relations@sherwin.com
Eric Swanson
Vice President, Investor Relations
216.566.2766
investor.relations@sherwin.com
Media Contact:
Julie Young
Vice President, Global Corporate Communications
216-515-8849
corporatemedia@sherwin.com
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SOURCE The Sherwin-Williams Company
