We report in accordance with the Global Reporting Initiative (GRI) Standards as well as the Sustainability Accounting Standards Board (SASB) Fuel Cells & Industrial Batteries Sustainability Accounting Standard. We also provide a summary of our progress in addressing climate change in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
We are continuously striving to improve our sustainability performance. In September 2024, we were awarded ISS ESG Prime status, underscoring our commitment to responsible business conduct.
* The estimates of avoided emissions due to generation from the Company’s fuel cells are calculated assuming that the generation from the fuel cells replaces electricity generated by the combustion of fossil fuels. Emissions factors used in the calculations are sourced from various databases, including published information provided by the U.S. EPA.
170000
metric tons of CO2 avoided by our power generation platforms*
Fiscal Year 2024
93 %
of our product materials recycled or reused at end of life
Fiscal Year 2024
428
metric tons of NOx avoided by our fuel cells*
Fiscal Year 2024
We are rated by several ESG rating agencies, including Institutional Shareholder Services (ISS) ESG, Sustainalytics, MSCI ESG and CDP. Their results show that we are on track with our sustainability strategy and have demonstrated substantial improvements in our performance. We welcome these ratings as objective assessments of our organization, and as a means to identify areas for improvement.
The strategy is informed by customers, partners, investors, analysts, suppliers, and team members at all levels of our business. To support the leadership and implementation of our sustainability strategy, we established a cross-functional team overseen by the Nominating, Governance, and Sustainability Committee of our Board of Directors.
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