Terex Releases 2022 Environmental, Social and Governance Report

Rhea-AI Summary

Terex Corporation (NYSE: TEX) has published its 2022 Environmental, Social and Governance (ESG) Report, emphasizing its commitment to sustainable practices. Key highlights include identifying five critical ESG areas, launching an all-electric utility truck, and achieving 15% reductions in greenhouse gas emissions and energy intensity. Notably, approximately 60% of Terex's MP and 70% of AWP products are electric or hybrid. The report aligns with multiple ESG reporting frameworks and supports the United Nations Sustainable Development Goals.

Positive

• Launched all-electric utility truck, showcasing innovation in environmentally friendly products.
• Approximately 60% of materials processing (MP) and 70% of aerial work platforms (AWP) are electric or hybrid.
• Setting a goal for a 15% reduction in greenhouse gas emissions and energy intensity.
• Demonstrated commitment to diversity, equity, and inclusion with the introduction of nine affinity groups.

Negative

• None.

NORWALK, Conn., Nov. 11, 2022 /PRNewswire/ -- Terex Corporation (NYSE: TEX) today announced publication of its 2022 Environmental, Social and Governance (ESG) Report. The report details Terex's commitment to stakeholders and how ESG is integral to the Company's strategic priorities.

"Terex has been dedicated to ESG for many years, but we believe our 2022 report is our most robust to date, covering our goals and the progress we are making to create more sustainable outcomes for our team members, customers, investors and communities," said Terex Chairman and CEO John L. Garrison, Jr. 

Highlights from Terex's 2022 ESG report include:

• ESG Materiality Assessment Results
• Five ESG areas identified as most critical to Terex and a broad range of external stakeholders
• Innovation of Environmentally Friendly Products and Products Supporting Safe Work Practices
• First to market with an all-electric utility truck
• Approximately 60% of MP and 70% of AWP product offerings are electric or hybrid
• Additional recycling offerings supporting the circular economy
• Our work practice safety innovations
• Implementation of Energy Audits to Achieve our Carbon Reduction Journey and our Goal of a 15% Reduction in GHG Emissions and Energy Intensity
  
  
• New Injury Prevention Behaviors, reflecting our Commitment to our Zero Harm Safety Culture Introducing Nine Affinity Groups, supporting our Diversity, Equity & Inclusion Program
  
  
• Inclusion of Four ESG Reporting Frameworks 
• Sustainability Accounting Standards Board (SASB), Task Force on Climate-Related Financial Disclosures (TCFD), and 2021 GRI Standards reporting standards
• Support of the United Nations Sustainable Development Goals (SDGs)

Terex will continue to keep stakeholders informed of the Company's progress on its ESG priorities.

Click here to access the Terex 2022 ESG report.

About Terex

Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with customers through all stages of the product life cycle, from initial specification and financing to parts and service support.

Contact Information

Paretosh Misra
Head of Investor Relations
Phone: 203-604-3977
Email: paretosh.misra@terex.com

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SOURCE Terex Corporation

FAQ

What are the key highlights from Terex's 2022 ESG Report?

Terex's 2022 ESG Report highlights include launching an all-electric utility truck, commitment to reducing greenhouse gas emissions by 15%, and that 60% of its MP and 70% of its AWP products are electric or hybrid.

How does Terex plan to achieve its carbon reduction goals?

Terex aims to achieve its carbon reduction goals through energy audits and initiatives targeting a 15% reduction in greenhouse gas emissions and energy intensity.

What frameworks does Terex's ESG Report comply with?

Terex's ESG Report aligns with the Sustainability Accounting Standards Board (SASB), Task Force on Climate-Related Financial Disclosures (TCFD), and 2021 GRI Standards.

What is Terex's commitment to diversity and inclusion?

Terex's ESG Report introduces nine affinity groups, reinforcing its commitment to diversity, equity, and inclusion.

When was Terex's 2022 ESG Report published?

Terex's 2022 ESG Report was published on November 11, 2022.