PITTSBURGH--(BUSINESS WIRE)--Howmet Aerospace (NYSE:HWM) today announced that it has released its inaugural Environmental, Social and Governance (ESG) Report. The report highlights the Company’s commitment and approach to sustainability as well as detailed results against its key metrics, which are designed to drive significant positive impacts for its stakeholders and surrounding communities.
“Our ESG approach is rooted in the role we play in helping our customers, aircraft manufacturers and airlines meet growing demand in air travel while mitigating the environmental impact,” said John C. Plant, Howmet Aerospace executive chairman and co-chief executive officer. “Our proprietary technologies help reduce fuel consumption and cut carbon emissions, contributing to the aerospace industry’s goal of a smaller carbon footprint. Our products and technologies enable similar advances in the commercial transportation and defense industries.”
Highlights of Howmet’s environmental, social and governance achievements during 2019 include:
- A 5.8 percent decrease in greenhouse gas emissions and 1.4 percent decline in energy consumption compared when to 2018
- Zero employee and contractor fatalities
- A 29 percent decline in days away, restricted and transfer rate and a 40 percent decrease in the lost workday rate when compared to 2018
- 83 percent of the Company’s key suppliers have sustainability programs considered leading or active
- A new partnership with a third-party ethics and compliance training vendor that is widely recognized for its award-winning, innovative content
Howmet Aerospace believes that truly sustainable organizations shape the future and by fulfilling the needs of society now, it can expand opportunities for generations to come. The Company’s ESG approach is based on three levers that help advance its efforts: (1) operational sustainability that keeps employees safe, empowered and engaged while reducing the Company’s environmental footprint; (2) customer sustainability that—through Howmet’s innovative products and technologies—enables customers and their end users to achieve their sustainability goals; and (3) supply chain sustainability that promotes the use of sustainable processes and practices among suppliers. Unless otherwise noted, the information and data contained in the report pertain only to the operations in the Company’s current profile. To download the 2019 Howmet Aerospace Environmental, Social and Governance Report, visit the Sustainability Report page on www.howmet.com.
About Howmet Aerospace
Howmet Aerospace, Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and transportation industries. The Company’s primary businesses focus on jet engine components, aerospace fastening systems, and titanium structural parts necessary for mission-critical performance and efficiency in aerospace and defense applications, as well as forged wheels for commercial transportation. With nearly 1,300 granted and pending patents, the Company’s differentiated technologies enable lighter, more fuel-efficient aircraft to operate with a lower carbon footprint. In 2019, the businesses of Howmet Aerospace reported annual revenue of over $7 billion. For more information, visit www.howmet.com. Follow @howmet: LinkedIn, Twitter, Instagram, Facebook, and YouTube.
This release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "guidance," "intends," "may," "outlook," "plans," "projects," "seeks," "sees," "should," "targets," "will," "would," or other words of similar meaning. All statements that reflect Howmet Aerospace’s expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, forecasts and expectations relating to the growth of end markets; statements and guidance regarding future financial results or operating performance; statements regarding future strategic actions; and statements about Howmet Aerospace's strategies, outlook, business and financial prospects. These statements reflect beliefs and assumptions that are based on Howmet Aerospace’s perception of historical trends, current conditions and expected future developments, as well as other factors Howmet Aerospace believes are appropriate in the circumstances. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, which could cause actual results to differ materially from those indicated by these statements. Such risks and uncertainties include, but are not limited to: (a) the impact of the separation on the businesses of Howmet Aerospace; (b) deterioration in global economic and financial market conditions generally, including as a result of pandemic health issues (including COVID-19 and its effects, among other things, on global supply, demand, and distribution disruptions as the COVID-19 outbreak continues and results in an increasingly prolonged period of travel, commercial and/or other similar restrictions and limitations); (c) unfavorable changes in the markets served by Howmet Aerospace; (d) the inability to achieve the level of revenue growth, cash generation, cost savings, improvement in profitability and margins, fiscal discipline, or strengthening of competitiveness and operations anticipated or targeted; (e) competition from new product offerings, disruptive technologies or other developments; (f) political, economic, and regulatory risks relating to Howmet Aerospace’s global operations, including compliance with U.S. and foreign trade and tax laws, sanctions, embargoes and other regulations; (g) manufacturing difficulties or other issues that impact product performance, quality or safety; (h) Howmet Aerospace’s inability to realize expected benefits, in each case as planned and by targeted completion dates, from acquisitions, divestitures, facility closures, curtailments, expansions, or joint ventures; (i) the impact of potential cyber attacks and information technology or data security breaches; (j) the loss of significant customers or adverse changes in customers’ business or financial conditions; (k) adverse changes in discount rates or investment returns on pension assets; (l) the impact of changes in aluminum prices and foreign currency exchange rates on costs and results; (m) the outcome of contingencies, including legal proceedings, government or regulatory investigations, and environmental remediation, which can expose Howmet Aerospace to substantial costs and liabilities; (n) the possible impacts and our preparedness to respond to implications of COVID-19; and (o) the other risk factors summarized in Howmet Aerospace’s Form 10-K for the year ended December 31, 2019 and other reports filed with the U.S. Securities and Exchange Commission (SEC). Market projections are subject to the risks discussed above and other risks in the market. The statements in this release are made as of the date of this release, even if subsequently made available by Howmet Aerospace on its website or otherwise. Howmet Aerospace disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.