Flowserve Releases 2022 ESG Report Detailing Climate, Culture and Core Responsibility Approach
05 Junho 2023 - 10:00AM
Business Wire
Flowserve Corporation (NYSE: FLS), a leading provider of flow
control products and services for the global infrastructure
markets, announced today the release of its 2022 Environmental,
Social and Governance (ESG) Report outlining the company’s
commitment to create extraordinary flow control solutions that make
the world better for everyone. In this year’s report, the Company
details how it strives to enable a clean energy future by advancing
technologies that reduce climate impact, embedding sustainability
within its core operations and strengthening its purpose-driven
culture.
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 Scott Rowe, president and chief executive officer.
“Backed by our greatest asset — Flowserve associates — I am
confident that we will continue to innovate for a better world for
our customers, suppliers and the global community,” he added.
Flowserve’s 2022 ESG Report reflects the impact Flowserve made
throughout the year including the following highlights:
Climate
- Reached 80% of our 2030 carbon emissions reduction goal
- Achieved nearly $140 million in 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
Culture
- 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 $500,000 with Flowserve 25th 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
Core Responsibility
- Delivered record safety performance, recording first ever
incident-free month in June with no recordable injuries at any
Flowserve sites
- Launched more than 20 new and redesigned products that directly
align with Flowserve’s 3D strategy, enhance ESG initiatives and
support customers’ sustainability efforts
For more information on Flowserve’s ESG progress, or to access
the Flowserve 2022 ESG Report and 2022 ESG Report Executive Summary
Video, visit our ESG page on Flowserve.com.
About Flowserve: Flowserve Corp. is one of the world’s
leading providers of fluid motion and control products and
services. Operating in more than 55 countries, the company produces
engineered and industrial pumps, seals and valves as well as a
range of related flow management services. More information about
Flowserve can be obtained by visiting the company’s Web site at
www.flowserve.com.
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 U.S.
export/re-export control, foreign corrupt practice laws, economic
sanctions and import laws and regulations; increased aging and
slower collection of receivables, particularly in Latin America and
other emerging markets; our exposure to fluctuations in foreign
currency exchange rates, including in hyperinflationary countries
such as Venezuela and Argentina; our furnishing of products and
services to nuclear power plant facilities and other critical
processes; potential adverse consequences resulting from litigation
to which we are a party, such as litigation involving
asbestos-containing material claims; expectations regarding
acquisitions and the integration of acquired businesses; our
relative geographical profitability and its impact on our
utilization of deferred tax assets, including foreign tax credits;
the potential adverse impact of an impairment in the carrying value
of goodwill or other intangible assets; our dependence upon
third-party suppliers whose failure to perform timely could
adversely affect our business operations; the highly competitive
nature of the markets in which we operate; environmental compliance
costs and liabilities; potential work stoppages and other labor
matters; access to public and private sources of debt financing;
our inability to protect our intellectual property in the U.S., as
well as in foreign countries; obligations under our defined benefit
pension plans; our internal control over financial reporting may
not prevent or detect misstatements because of its inherent
limitations, including the possibility of human error, the
circumvention or overriding of controls, or fraud; the recording of
increased deferred tax asset valuation allowances in the future or
the impact of tax law changes on such deferred tax assets could
affect our operating results; our information technology
infrastructure could be subject to service interruptions, data
corruption, cyber-based attacks or network security breaches, which
could disrupt our business operations and result in the loss of
critical and confidential information; ineffective internal
controls could impact the accuracy and timely reporting of our
business and financial results; and other factors described from
time to time in our filings with the Securities and Exchange
Commission.
All forward-looking statements included in this news release are
based on information available to us on the date hereof, and we
assume no obligation to update any forward-looking statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20230605005115/en/
Jay Roueche, Vice President, Treasurer and Investor Relations,
(972) 443-6560 Mike Mullin, Director, Investor Relations, (214)
697-8568
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