Fastenal Company (Nasdaq: FAST) is proud to announce the publication of its inaugural ESG Report. The report, which recaps Fastenal’s progress in various environmental, social, and governance aspects during 2021, marks a significant step forward in the company’s ESG journey. Fastenal is planning to publish annual ESG reports moving forward.
The report was produced with reference to the Global Reporting Initiative (GRI) standards and aligns with the ESG disclosure and reporting frameworks established by the Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-Related Financial Disclosures (TCFD).
Highlights from the report include:
- Continued improvement to Fastenal’s workplace safety ratings, the TRIR (Total Recordable Incident Rate) and EMR (Experience Modifier Rate), which are significantly better than the industry average and contributed to Fastenal being named one of America’s Safest Companies by EHS Today.
- Structural changes to Fastenal’s brick-and-mortar footprint and use of fuel within its captive transportation fleet, setting the stage for lower relative emissions and reduced future resource consumption.
- Investment in additional resources and new roles focused on coordinating and bringing visibility to ESG-related activities throughout the organization.
A unique feature of the report (and of Fastenal’s ESG program) is the company’s sustainability solutions, a portfolio of services to help customers accelerate their own ESG programs. It speaks to a larger theme: As a supply chain partner for thousands of organizations around the globe, Fastenal is working to make a positive impact that extends well beyond its own operations.
“Our culture centers on a core belief in people, and our strategy centers on reducing resource consumption in our customers’ supply chains – principles we believe create a natural alignment of our growth goals and the ESG priorities of our stakeholders,” said Dan Florness, president and CEO of Fastenal. “The Fastenal ‘Blue Team’ is working hard to be a force for positive change – in our business, for our customers, and across global supply chains – and we’re proud to share their story in this inaugural report.”
VIEW THE REPORT HERE: www.fastenal.com/fast/esg
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 approximately 3,300 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 16 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. The forward-looking statements contain words such as “plan,” “believe,” and similar expressions and our 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 our ESG Report and our 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230116005566/en/
Taylor Ranta Oborski
Financial Reporting & Regulatory Compliance Manager