Vertiv Releases 2022 Environmental, Social and Governance Report, Detailing ESG Initiatives and Achievements in Second Annual ESG Report

Rhea-AI Summary

Vertiv releases second annual report on environmental, social, and governance efforts, highlighting initiatives across key areas. Efforts include expanding product portfolio, launching diversity training, centralizing employee wellness programs, driving positive change in communities, reducing environmental impacts, and commitment to supply chain integrity.

Positive

• Expansion of product portfolio and pipeline with energy- and water-efficiency attributes
• Launch of diversity, equity, and inclusion training sessions for senior management
• Centralizing and expanding employee wellness programs for associates globally
• Driving positive change in communities through employee volunteerism
• Steps taken to reduce environmental impacts of business
• Continued commitment to supply chain integrity

Negative

• None.

COLUMBUS, Ohio--(BUSINESS WIRE)-- Vertiv (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today released its second annual report on the company’s environmental, social and governance (ESG) efforts, highlighting initiatives across several key areas.

In 2022, efforts focused on six areas key to the company’s vision and values: efficient products and systems, responsible operations, its people, its neighbors, supply chain integrity, and governance. Some of the initiatives and results highlighted in the report include:

- The expansion of both the product portfolio and the product pipeline with new and upgraded offerings with energy- and water-efficiency attributes.

- Release of the Vertiv Guide to Data Center Sustainability, an online resource of practices and emerging technologies to help the industry advance toward net-zero operations.

- Launch of diversity, equity, and inclusion (DE&I) training sessions for senior management and other global and regional leaders and continued training on unconscious bias.

- Centralizing and expanding employee wellness programs for associates globally.

- Driving positive change in communities across the globe through employee volunteerism supported by the company, focusing on education and STEM, people in need, healthcare, and community improvements.

- Steps taken in 2022 to reduce the environmental impacts of Vertiv’s business. Across Europe, Middle East, and Africa (EMEA), several Vertiv factories have purchased renewable energy for operations, and Vertiv’s E+I Engineering Burnfoot location in Ireland installed a system that recycles and reuses all process water in manufacturing, reducing the overall water consumption of the site. In North America, the Delaware, Ohio, U.S. facility began installation of an on-site solar field, to support a microgrid demonstration initiative.

- Continued commitment to supply chain integrity, analyzing 100% of the prior year supplier spend and conducting additional due diligence on more than 500 direct and indirect suppliers to assure compliance with leading industry standards for human rights and labor conditions.

“We have made steady advancement in our commitment to be a responsible global and corporate citizen,” said Giordano Albertazzi, Vertiv CEO. “We are creating reliable, water- and energy-efficient products and systems that support the environmental objectives of our customers, while improving our own policies and impact related to our operations, our people, our communities, and our supply chain. We are proud to share our work on these fronts with the world.”

This year’s ESG report also introduces reporting aligned to the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), a leading framework for communicating the management of climate risks and opportunities and how these impact Vertiv’s business strategy.

Additional details are available in the report, which can be accessed and downloaded at Vertiv.com.

About Vertiv

Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers’ vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Vertiv.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act. These statements are only a prediction. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Readers are referred to Vertiv’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning Vertiv and its operations. Vertiv is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230529005190/en/

Sara Steindorf

E sara.steindorf@fleishman.com

Source: Vertiv Holdings Co

FAQ

What initiatives were highlighted in the report?

Initiatives highlighted in the report include expanding the product portfolio, launching diversity training, centralizing employee wellness programs, driving positive change in communities, reducing environmental impacts, and commitment to supply chain integrity.

What is the focus of the diversity, equity, and inclusion training sessions?

The focus of the diversity, equity, and inclusion training sessions is on senior management and other global and regional leaders, as well as training on unconscious bias.

What steps were taken to reduce the environmental impacts of Vertiv's business?

Steps taken include purchasing renewable energy for operations in Europe, Middle East, and Africa, installing a system to recycle and reuse process water in manufacturing in Ireland, and beginning installation of an on-site solar field in the U.S.

What is the company's commitment to supply chain integrity?

The company analyzes 100% of the prior year supplier spend and conducts additional due diligence on suppliers to assure compliance with industry standards for human rights and labor conditions.