Flowserve Releases 2022 ESG Report Detailing Climate, Culture and Core Responsibility Approach
The success of the company’s 3D strategy in supporting customers’ ESG efforts inspired the launch of a refreshed ESG approach with three main pillars: Climate, Culture and Core Responsibility. “Our ESG approach continues to influence our growth strategy and our path forward, and I am proud of the progress we’ve made balancing the challenges of an ever-changing energy sector while serving our customers, engaging our people and improving our planet,” said
Flowserve’s 2022 ESG Report reflects the impact
- Reached 80% of our 2030 carbon emissions reduction goal
- Achieved nearly
$140 millionin energy transition bookings while continuing to support core markets, contributing to a robust backlog of $2.7 billion
- Entered strategic partnerships and collaborations to advance innovation in critical markets and emerging technologies such as hydrogen fueling, LNG, carbon capture, utilization and storage (CCUS), recyclables and other sustainable fuels
- Empowered leadership training for over 2,000 People Leaders through the Leadership in Motion program, equipping them with tools and alignment on People Leader Expectations to deliver value to associates and customers
- Invested over
$500,000with Flowserve25th Anniversary grants through our global community impact program, Flowserve Cares, reinforcing Flowserve’s commitment to serving the local communities where we operate around the world
- Delivered record safety performance, recording first ever incident-free month in June with no recordable injuries at any
- Launched more than 20 new and redesigned products that directly align with Flowserve’s 3D strategy, enhance ESG initiatives and support customers’ sustainability efforts
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with
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