MRC Global Publishes 2024 Sustainability Report

Rhea-AI Summary

MRC Global (NYSE: MRC) has released its 2024 Sustainability Report, highlighting strategic efforts in several key areas: advancing energy transition, minimizing greenhouse gases (GHG), reducing pollution, and maintaining a safe, diverse workplace. Key accomplishments include a 28% reduction in Scope 1 and 2 emissions compared to 2022, significant contributions to global Energy Transition projects, the company's first baseline water risk assessment, and an 11.5% improvement in the total recordable incident rate over 2022. MRC Global also disclosed its alignment with the Global Reporting Index (GRI) and Sustainable Accounting Standards Board (SASB).

Positive

• 28% reduction in Scope 1 and 2 emissions compared to 2022.
• Significant involvement in global Energy Transition projects.
• Completion of the first baseline water risk assessment.
• 11.5% improvement in total recordable incident rate over 2022.
• Alignment with both GRI and SASB standards.
• Advancement of supplier diversity efforts.

Negative

• Sustainability reports typically lack direct short-term financial performance data.
• Report does not disclose potential costs or investments required for sustainability initiatives.
• Potential risks associated with transitioning to new energy solutions are not detailed.

HOUSTON, May 21, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), the leading global distributor of pipe, valves, fittings and infrastructure products and services to diversified energy, industrial and gas utilities end-markets, has published its 2024 Sustainability Report on www.mrcglobal.com. The 2024 Sustainability Report describes MRC Global’s strategic efforts to:

• Advance the Energy Transition
• Minimize Greenhouse Gases (“GHG”) and Reduce Pollution
• Reduce its Carbon Footprint
• Maintain a Safe Workplace
• Develop a Diverse Workforce and Inclusive Workplace
• Govern Climate Risks and Opportunities

“We continue to demonstrate our commitment to operating a sustainable, ethical, and efficient business to the benefit of our customers and other stakeholders. Our seventh annual Sustainability Report highlights the advances we have made to improve the impact of our business operations on the environment, the communities where we work and all elements of our supply chain,” stated Rob Saltiel, President & CEO.

Highlights of the 2024 Sustainability Report include:

• Achieving a 28% reduction in Scope 1 and 2 emissions compared to 2022
• Supplying critical projects and services to several Energy Transition projects globally
• Conducting our first baseline water risk assessment
• Improving our total recordable incident rate by 11.5% over 2022 and remaining ahead of our peer group averages
• Advancing supplier diversity efforts in our first full year with a dedicated leader
• Disclosing our alignment with both Global Reporting Index (GRI) and Sustainable Accounting Standards Board (SASB)

The full report is available online at www.mrcglobal.com under Sustainability.

About MRC Global Inc.
Headquartered in Houston, Texas, MRC Global (NYSE: MRC) is the leading global distributor of pipe, valves, fittings (PVF) and other infrastructure products and services to diversified end-markets including the gas utilities, downstream, industrial and energy transition, and production and transmission sectors. With over 100 years of experience, MRC Global has provided customers with innovative supply chain solutions, technical product expertise and a robust digital platform from a worldwide network of 214 locations including valve and engineering centers. The company’s unmatched quality assurance program offers over 300,000 SKUs from over 8,500 suppliers, simplifying the supply chain for approximately 10,000 customers. Find out more at www.mrcglobal.com.

Contact:

Monica Broughton
VP, Investor Relations & Treasury
MRC Global Inc.
Monica.Broughton@mrcglobal.com

FAQ

What are the key points from MRC Global's 2024 Sustainability Report?

The report highlights a 28% reduction in emissions, significant involvement in Energy Transition projects, a baseline water risk assessment, and an 11.5% improvement in recordable incident rates.

How has MRC Global reduced its greenhouse gas emissions in 2024?

MRC Global achieved a 28% reduction in Scope 1 and 2 emissions compared to 2022.

What safety improvements has MRC Global made according to the 2024 Sustainability Report?

MRC Global improved its total recordable incident rate by 11.5% over 2022 and remained ahead of peer group averages.

How is MRC Global addressing water risk?

MRC Global conducted its first baseline water risk assessment in the 2024 Sustainability Report.

What standards does MRC Global align with in its sustainability efforts?

MRC Global aligns with the Global Reporting Index (GRI) and Sustainable Accounting Standards Board (SASB).