Worthington Steel Releases 2024 Corporate Citizenship and Sustainability Report

Rhea-AI Summary

Worthington Steel (NYSE: WS) has released its 2024 Corporate Citizenship and Sustainability Report, highlighting key achievements in environmental management, safety, talent development, citizenship, and corporate governance. The report, available on the company's website, marks Worthington Steel's first sustainability report as a public company.

Notable accomplishments include:

• A safety record 1.9 times better than the industry average
• 98% of generated waste diverted from landfills
• 2% decrease in Scope 1 and 2 greenhouse gas emissions intensity
• $3.0 million contributed to 73 organizations through the Worthington Companies Foundation
• 65,000 hours of employee training completed
• 17% increase in diverse supplier spending over two fiscal years

The report adheres to Global Reporting Initiative (GRI) Standards and incorporates elements from SASB and TCFD frameworks.

COLUMBUS, Ohio--(BUSINESS WIRE)-- Worthington Steel, Inc. (NYSE: WS) announced today the release of its 2024 Corporate Citizenship and Sustainability Report, summarizing the Company’s key accomplishments and performance metrics achieved during fiscal 2024 across several important areas, including environmental management, safety, talent development, citizenship and corporate governance. The report can be viewed on the Company’s website at https://www.worthingtonsteel.com/sustainability.

“I’m proud to share Worthington Steel’s inaugural sustainability report. While it’s our first report as a public company, the concepts and values around sustainability are not new to us,” said Worthington Steel President and CEO Geoff Gilmore. “We have a strong foundation, including a people-first Philosophy, built on nearly 70 years of heritage that guides our strategy and actions around environmental, social and governance initiatives.” Gilmore added, “Our teams made excellent progress this year, and I’m excited about our unique position to continue this important work as we drive the steel processing industry into a more sustainable future.”

Highlights of Worthington Steel’s 2024 Corporate Citizenship and Sustainability Report include the following:

• Putting People First: Worthington Steel achieved a 1.9 times better safety record than industry average within the Primary Metal Manufacturing category as reported by the U.S. Bureau of Labor Statistics.
• Reducing Environmental Footprint: The Company successfully diverted 98% of generated waste away from landfills.
• Lowering Emissions: Scope 1 and 2 greenhouse gas emissions intensity totaled 0.02 metric tons of carbon dioxide equivalent per ton processed, a 2% decrease from fiscal 2023.
• Strengthening Communities: The Worthington Companies Foundation contributed $3.0 million to 73 organizations in the areas of health, human services, youth and education and civic causes.
• Accelerating Momentum Through Talent Development: Worthington Steel employees completed 65,000 hours of training, averaging more than 25 hours per employee.
• Supporting Key Partners: Worthington Steel increased its diverse supplier spending by 17% over the last two fiscal years.

The Worthington Steel 2024 Corporate Citizenship and Sustainability Report was developed in accordance with the following frameworks: Global Reporting Initiative (GRI) Standards, and elements of the Sustainability Accounting Standards Board (SASB) Iron & Steel Producers Standard and the Task Force on Climate-Related Financial Disclosures (TCFD). Data within the report preceding Dec. 1, 2023, is reflective of Worthington Industries’ Steel Processing business. Data from Dec. 1, 2023, onward, is inclusive of Worthington Steel’s locations.

About Worthington Steel

Worthington Steel (NYSE:WS) is a metals processor that partners with customers to deliver highly technical and customized solutions. Worthington Steel’s expertise in carbon flat-roll steel processing, electrical steel laminations and tailor welded solutions are driving steel toward a more sustainable future.

As one of the most trusted metals processors in North America, Worthington Steel and its approximately 5,000 employees harness the power of steel to advance our customers’ visions through value-added processing capabilities including galvanizing, pickling, configured blanking, specialty cold reduction, lightweighting and electrical lamination. Headquartered in Columbus, Ohio, Worthington Steel operates 32 facilities in seven states and six countries. Following a people-first Philosophy, commitment to sustainability and proven business system, Worthington Steel’s purpose is to generate positive returns by providing trusted and innovative solutions for customers, creating opportunities for employees and strengthening its communities.

Safe Harbor Statement

Worthington Steel wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 (the “Act"). Statements by Worthington Steel which are not historical information constitute "forward looking statements" within the meaning of the Act. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those projected. Factors that could cause actual results to differ materially include risks, uncertainties and impacts described from time to time in Worthington Steel’s filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241014818767/en/

Melissa Dykstra

Vice President

Corporate Communications and Investor Relations

Phone: 614-840-4144

Melissa.Dykstra@worthingtonsteel.com

Source: Worthington Steel, Inc.

FAQ

What are the key highlights of Worthington Steel's 2024 Corporate Citizenship and Sustainability Report?

Key highlights include a safety record 1.9 times better than industry average, 98% waste diversion from landfills, 2% decrease in emissions intensity, $3.0 million in charitable contributions, 65,000 hours of employee training, and a 17% increase in diverse supplier spending.

How did Worthington Steel (WS) perform in terms of safety in their 2024 report?

Worthington Steel achieved a safety record 1.9 times better than the industry average within the Primary Metal Manufacturing category, as reported by the U.S. Bureau of Labor Statistics.

What environmental progress did Worthington Steel (WS) report in their 2024 sustainability report?

Worthington Steel reported successfully diverting 98% of generated waste away from landfills and a 2% decrease in Scope 1 and 2 greenhouse gas emissions intensity compared to fiscal 2023.

How much did Worthington Steel (WS) contribute to community organizations in their 2024 report?

The Worthington Companies Foundation contributed $3.0 million to 73 organizations in areas including health, human services, youth and education, and civic causes.

What frameworks did Worthington Steel (WS) use for their 2024 Corporate Citizenship and Sustainability Report?

The report was developed in accordance with Global Reporting Initiative (GRI) Standards and elements of the SASB Iron & Steel Producers Standard and the Task Force on Climate-Related Financial Disclosures (TCFD).