Terex Releases its 2023 Sustainability Report

Rhea-AI Summary

Terex Corporation has published its 2023 Sustainability Report, highlighting its commitment to sustainability and its impact on the environment. The report details Terex's sustainability practices, including product innovation and solutions that promote safe and sustainable operations for customers. Terex aims to reduce greenhouse gas and energy intensity by 15% by the end of 2024.

Positive

• Terex offers a range of products and solutions that reduce carbon emissions and increase waste processing, contributing to environmental sustainability. About 70% of its Genie and Materials Processing products are available in electric and/or hybrid versions. Terex aims to reduce greenhouse gas and energy intensity by 15% by the end of 2024.

Negative

• None.

NORWALK, Conn., Oct. 24, 2023 /PRNewswire/ -- Terex Corporation (NYSE: TEX) today announced the publication of its 2023 Sustainability Report, the Company's fourth annual report. In the 2023 report, Terex provides expanded coverage and case studies of its sustainability commitment to team members, customers, investors, and the community at large. It details how sustainability is integral to Terex's strategic business priorities, including product innovation and solutions that enable its customers to operate in safe and sustainable ways, and the practices that Terex has implemented at its locations that reduce negative impacts on the environment.

Click here to access the 2023 Terex Sustainability Report.

Terex concurrently released its sustainability strategy with the report. Stacey Babson Kaplan, Senior Vice President, Chief Sustainability & Compliance Officer, said: "Our sustainability strategy focuses on our products, solutions, and team members, and being good stewards of the environment. Our sustainability initiatives, aligned with our Execute, Innovate, Grow business strategy, will contribute to generating long-term value for our stakeholders. We believe the sustainability practices we have, and continue to implement, will contribute to a better business, a better planet, and a better future."

Terex offers a range of products and solutions that reduce or eliminate carbon emissions, increase waste processing, and advance the reuse of scarce resources, enabling customers to achieve their business objectives and reduce their impact on the environment. About 70% of products sold by Terex's Genie or the Materials Processing businesses are available in electric and/or hybrid versions. Approximately one-third of our 2022 sales from our Materials Processing business are derived from products used for waste, recycling, and other environmental applications. Terex is also reducing its impact on the environment, focusing on carbon emissions reduction, energy conservation, waste and water reduction, and biodiversity. Terex has a year-end 2024 target of a 15% reduction in greenhouse gas and energy intensity from its 2019 baseline.

The report also covers the Company's commitment to team member and product safety, Diversity, Equity & Inclusion, strong governance, among many other sustainability dimensions. Notably, in 2023, Newsweek named Terex one of America's Most Responsible Companies. For more information on the Company's awards and commitment to social sustainability and governance, please read Terex's 2023 Sustainability Report.

About Terex

Terex Corporation 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 impact on the environment 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 to parts and service support.

Contact Information

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/terex-releases-its-2023-sustainability-report-301965176.html

SOURCE Terex Corporation

FAQ

What is the focus of Terex's sustainability strategy?

Terex's sustainability strategy focuses on its products, solutions, and team members, aiming to be good stewards of the environment.

What percentage of Terex's products are available in electric and/or hybrid versions?

Approximately 70% of Terex's Genie and Materials Processing products are available in electric and/or hybrid versions.

What is Terex's target for greenhouse gas and energy intensity reduction?

Terex aims to achieve a 15% reduction in greenhouse gas and energy intensity by the end of 2024.

What recognition did Terex receive in 2023?

Terex was named one of America's Most Responsible Companies by Newsweek in 2023.