Kennametal Releases 2023 Environmental, Social and Governance (ESG) Report

Rhea-AI Summary

Kennametal Inc. publishes fiscal year 2023 ESG report, showing progress in key areas

Positive

• Reductions in greenhouse gas emissions, energy consumption, water consumption, and increase in waste recycling
• Enhancements to EHS Management System to improve safety programs
• Recordable incident rate performs 148% better than U.S. industry standard
• Advancements in employee development and engagement through educational programs
• Initiatives to advance diversity and inclusion pillars
• Engagement in local communities through donations and volunteerism

Negative

• None.

Cites continued progress across key focus areas

PITTSBURGH, Sept. 12, 2023 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) today announced that is has published its fiscal year 2023 Environmental, Social, Governance (ESG) report. The report outlines the company's continued progress in advancing its ESG strategy and the issues most important to stakeholders, including environmental, health and safety (EHS), employee engagement, workforce training and development, diversity and inclusion, community engagement and other material topics.

"Our ESG report reflects our commitment to accountability and transparency to key stakeholders and details the progress we have made over the last twelve months," said Christopher Rossi, President & CEO. "I am proud of the work our employees have demonstrated in executing our ESG strategy globally, and I look forward to continuing our ESG journey."

Highlights from the report include:

• Reductions in Scope 1 and Scope 2 greenhouse gas emissions, energy consumption, water consumption and increase in waste recycling.
• Enhancements to EHS Management System to streamline the collection and analysis of key metrics which help improve safety programs. 
• Recordable incident rate continues to perform at a world-class level – 148 percent better than U.S. industry standard.
• Advancements in the development and engagement of employees through various educational programs including Leadership Excellence Advancement Program, EMERGE early-career rotational development program and annual employee engagement survey.
• Implemented initiatives to advance four diversity and inclusion pillars: awareness, acquisition, development and community through Employee Resource Groups, Allyship and Mentor-Mentee programs.
• Engagement in local communities through financial donations and employee volunteerism, including promoting STEM education and careers at schools and colleges.

Topics included in the ESG assessment align with GRI Standards Topics, the SASB Industrial Machinery & Goods 2018 Sustainability Accounting Standards and other ESG 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 80 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 8,700 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated $2.1 billion in revenues in fiscal 2023. Learn more at www.kennametal.com. Follow @Kennametal: Twitter, Instagram, Facebook, LinkedIn and YouTube.

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SOURCE Kennametal Inc.