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Applied Industrial Technologies Releases 2024 Environmental, Social, and Governance (ESG) Report

Business Wire 18-Sep-2024 8:00 AM

Applied Industrial Technologies (NYSE:AIT), a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies, today announced the release of its 2024 Environmental, Social, and Governance (ESG) Report. The Report highlights the Company's progress and continued commitment to sustainability and socially responsible business practices in fiscal year 2024.

Neil A. Schrimsher, President & Chief Executive Officer for Applied, commented, "I am pleased to share Applied's 2024 ESG Report and the ongoing effort our team is making to create a more sustainable and effective industrial economy. Consistent with our commitment to continuous improvement, our ESG strategy is approached with a long-term perspective and balanced focus on driving steady progress that aligns with our Core Values and stakeholders' expectations. We have integrated our ESG strategy across our business to reduce our environmental footprint, foster a workplace where all our associates can thrive, create a positive impact in our communities, operate in an ethical and responsible way, and help our customers achieve their sustainability goals. I am proud of our progress in recent years and look forward to continuing to identify and prioritize the opportunities that can contribute to a better world for all our stakeholders."

Highlights from Applied's 2024 ESG Report include:

  • Reduced absolute energy consumption by 3% and increased percentage of waste recycled
  • Expanded information on the Company's operations and efforts, including newly added information about Applied's waste generation and water consumption
  • Decreased total recordable incident rate (TRIR) by 31% year-over-year to 0.78 in calendar year 2024, below industry association and U.S. Bureau of Labor Statistic benchmarks
  • Performed an initial environmental review and gap analysis, and developed an Emergency Management System Manual in pursuit of ISO 14001:2015 certification in fiscal year 2025

Mr. Schrimsher added, "Applied is committed to driving further progress going forward. We will remain focused on providing and integrating solutions in both our own operations and our customers that further advance our ESG journey, while strengthening our Company and the broader environment for the long term."

The Report utilizes Global Reporting Initiative (GRI) standards and aligns with the ESG disclosure and reporting frameworks established by the Sustainability Accounting Standards Board (SASB).

To learn more about Applied's 2024 ESG Report, its business, and related associate efforts and activities, please visit: www.applied.com/sustainability.

About Applied® Applied Industrial Technologies is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. Our leading brands, specialized services, and comprehensive knowledge serve MRO and OEM end users in virtually all industrial markets through our multi-channel capabilities that provide choice, convenience, and expertise. For more information, visit www.applied.com.

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