2023 Sustainability Report
CLEVELAND, Nov. 7, 2023 (GLOBE NEWSWIRE) — Parker Hannifin Corporation (NYSE:PH), a global leader in motion and control technology, today announced its fiscal year. 2023 Sustainability Report. With the theme “Purpose Driven,” this report highlights the successes of Parker’s recent efforts to protect the environment, advance clean technology, create safe industrial workplaces, and strengthen communities. .
The report also highlights Parker’s wide range of products and systems specifically designed to help customers in the industrial, mobile, and aerospace markets minimize their reliance on natural resources, increase efficiency, and reduce carbon emissions. is showing. Approximately two-thirds of the company’s global technology portfolio is focused on electrification, lightweighting, the introduction of cleaner and more efficient energy sources such as batteries, fuel cells, hydrogen, and other technologies that have a positive impact on the environment. Solutions that enable innovation.
“Parker’s tradition of operating with a focus on corporate responsibility and sustainability is reflected in everything we do. We continue to help our customers innovate and advance their environmental efforts.” Chief Executive Officer Jenny Parmentier said. “On behalf of all of our global team members who work every day to make the world cleaner, smarter and safer, I am proud to share the progress we have made with our sustainability report. .”
Key achievements detailed in the 2023 Sustainability Report include:
Keep your team members safe: Parker has prioritized a shared commitment to improving safety across its sites, resulting in a 45% reduction in recordable accident rates and a 33% reduction in lost time injury rates over the past five years. Overall, Parker’s safety performance ranks in the top quartile of its peers.
Reducing carbon impact: Parker completed a number of on-site carbon reduction projects this fiscal year, including solar panel installations, lighting retrofits, HVAC system upgrades and other projects to reduce its environmental footprint. These actions support Parker’s goals to reduce carbon from its operational footprint by 50% by 2030 and achieve carbon neutrality by 2040.
Development of clean technology: In FY23, more than 40% of Parker’s R&D was dedicated to expanding its interconnected clean technology portfolio, focusing on electrification and the emergence of alternative fuels such as hydrogen and sustainable aviation fuels.
Have a positive impact on your community: Together, Parker and the Parker Foundation have donated more than $9 million to charities that help strengthen communities around the world. The majority of these gifts support the foundation’s work in line with her three focus areas: STEM education, community needs, and sustainability.
Additional information is available in Parker’s fiscal year 2023 Sustainability Report.Learn more about http://www.parker.com/sustainability.
About Parker Hannifin
Parker Hannifin is a Fortune 250 global leader in motion and control technology. For more than a century, the company has been delivering engineering breakthroughs that lead to a better tomorrow.Learn more about www.parker.com or @parkerhannifin.com.
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