Kennametal Highlights Achievements in Fiscal Year 2024 Corporate Responsibility Report

Rhea-AI Summary

Kennametal Inc. (NYSE: KMT) has released its fiscal year 2024 Corporate Responsibility Report, showcasing progress in environmental, social, and governance initiatives. Key achievements include:

• 2% reduction in Scope 1 and 2 greenhouse gas emissions
• 4% decrease in water withdrawal
• 10% increase in waste recycling efforts
• Surpassing U.S. industry standard total recordable incident rates by 150%
• Creation of three new employee resource groups

The report aligns with GRI Standards, SASB Sustainability Accounting Standards, and UN Sustainability Development Goals. Kennametal, an industrial technology leader with $2 billion in revenues for fiscal 2024, emphasizes its commitment to sustainability while focusing on business success and stakeholder value.

Positive

• 2% reduction in Scope 1 and 2 greenhouse gas emissions
• 4% decrease in water withdrawal
• 10% increase in waste recycling efforts
• Surpassed U.S. industry standard total recordable incident rates by 150%
• Created three new employee resource groups
• Generated $2 billion in revenues for fiscal 2024

Negative

• None.

PITTSBURGH, Sept. 10, 2024 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) announced today that is has published its fiscal year 2024 Corporate Responsibility Report (previously ESG Report), outlining the company's continued progress in advancing its environmental, social and governance strategy. It also details issues important to stakeholders, including environmental, health and safety (EHS), employee engagement, workforce training and development, diversity and inclusion, community engagement and other material topics.

"At Kennametal, we are not just committed to driving business success but also to fostering a safer, more inclusive workplace and making a positive impact on the world around us," said Sanjay Chowbey, President & CEO. "From advancing our conservation programs to expanding our employee resource groups, we are building on our sustainability initiatives while remaining focused on advancing our strategy, delivering value for stakeholders and positioning the company for long-term success."

Highlights from the report include:

• Reductions in combined Scope 1 and 2 greenhouse gas emissions by 2 percent
• Decreased water withdrawal by approximately 4 percent
• Increased waste recycling efforts by 10 percent
• Surpassed U.S. industry standard total recordable incident rates by 150 percent
• Created three new employee resource groups
• Enhanced Code of Conduct and supporting resources to improve accessibility and ensure employees are informed of our Culture of Accountability

Topics included in the report align with GRI Standards Topics, the SASB Industrial Machinery & Goods 2018 Sustainability Accounting Standards and other environmental, social and governance topics of interest to investors and other key stakeholders. Kennametal also recognizes the importance of the United Nation's Sustainability Development Goals (SDG) and has aligned the SDGs with priority topics.

About Kennametal
With over 85 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace and defense, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 8,400 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated $2 billion in revenues in fiscal 2024. Learn more at www.kennametal.com. Follow @Kennametal: Instagram, Facebook, LinkedIn and YouTube.

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SOURCE Kennametal Inc.

FAQ

What were Kennametal's (KMT) key sustainability achievements in fiscal year 2024?

Kennametal reduced Scope 1 and 2 greenhouse gas emissions by 2%, decreased water withdrawal by 4%, increased waste recycling by 10%, and surpassed U.S. industry standard total recordable incident rates by 150%.

How much revenue did Kennametal (KMT) generate in fiscal year 2024?

Kennametal generated $2 billion in revenues for fiscal year 2024.

What sustainability reporting standards does Kennametal (KMT) align with?

Kennametal's report aligns with GRI Standards Topics, SASB Industrial Machinery & Goods 2018 Sustainability Accounting Standards, and the United Nation's Sustainability Development Goals (SDG).

What new employee initiatives did Kennametal (KMT) introduce in fiscal year 2024?

Kennametal created three new employee resource groups and enhanced its Code of Conduct to improve accessibility and ensure employees are informed of the company's Culture of Accountability.