Fastenal Receives EcoVadis Silver Medal for Sustainability
05 Março 2024 - 6:15PM
Business Wire
Fastenal Company (Nasdaq: FAST), a leader in the wholesale
distribution of industrial and construction supplies, is proud to
announce it has been awarded a silver medal from EcoVadis. The
award, which is based on an assessment completed by EcoVadis in
late 2023, signifies that the quality of Fastenal's sustainability
management system ranks in the top 25% of all companies in all
industries rated by EcoVadis.
EcoVadis uses a broad range of criteria to score companies'
sustainability programs in four main areas: environment, ethics,
labor and human rights, and sustainable procurement. In addition to
helping Fastenal identify opportunities to reduce risk and improve
its sustainability performance, the assessment helps current and
potential customers identify Fastenal as a responsible business
partner.
"Today, many of our customers are looking at EcoVadis scores to
evaluate our sustainability credentials and to help them make
purchasing decisions," said Dan Florness, Fastenal's president and
CEO. "So, receiving a silver medal not only validates the positive
steps being taken by our team, it also creates business
opportunities."
Fastenal earned its first EcoVadis medal, a bronze, in December
2022. Prior to that, the company's sustainability programs and
reporting did not merit a medal designation. This rapid improvement
from receiving no medal recognition to earning a silver medal
reflects a heightened and long-term commitment by Fastenal to
invest in and continuously improve its processes, systems, and
reporting around sustainability.
Since mid-2022, Fastenal has achieved third-party certification
to the ISO 45001 occupational health and safety management
standard, the ISO/IEC 27001 information security management
standard, and the ISO 14001 environmental management standard. The
company also completed an ESG materiality assessment, formally
defined and began road-mapping its ESG strategy, created a
cross-departmental ESG community of practice (to lead the execution
of the roadmap), and, most recently, completed a scope 3
materiality assessment to gain a more complete understanding of its
carbon inventory.
About Fastenal
Fastenal provides a broad offering of industrial supplies,
including fastener, safety, and metal cutting products, to
manufacturing, construction, and state and local government
customers through more than 3,400 in-market locations (branches and
customer-specific Onsite locations) spanning 25 countries. With
continual investment in tailored local inventory, dedicated local
experts, and flexible FMI® (Fastenal Managed Inventory) and digital
solutions, we help our business partners achieve product and
process savings across the supply chain – a "high-touch, high-tech"
approach encapsulated by our tagline, Where Industry Meets
Innovation™. Our local service teams are supported by 17
regional distribution centers, a captive logistics fleet, multiple
teams of industry specialists and support personnel, and robust
sourcing, quality, and manufacturing resources, enabling us to grow
by getting closer to customers and providing innovative and
comprehensive solutions to customer supply chain challenges.
Additional information regarding Fastenal is available on the
Fastenal Company website at www.fastenal.com.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements, which are
subject to risks and uncertainties. Fastenal's sustainability
goals, targets, and expectations are long-term and inspirational
and by their nature, include forward-looking statements. Actual
results may differ from those set forth in the forward-looking
statements due to a variety of factors, including those described
in Fastenal's annual ESG Reports and filings with the Securities
and Exchange Commission. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date on which they are made. Fastenal undertakes no
obligation to update or revise any forward-looking statements.
FAST-G
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version on businesswire.com: https://www.businesswire.com/news/home/20240305813761/en/
Taylor Ranta Oborski Financial Reporting & Regulatory
Compliance Manager 507.313.7959
Fastenal (NASDAQ:FAST)
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