Kennametal Inc. has published its fiscal year 2023 Environmental, Social, Governance (ESG) report.

The report outlines the company's continued progress in advancing its ESG strategy and the issues most important to stakeholders, including environmental, health, and safety (EHS), employee engagement, workforce training and development, diversity and inclusion, community engagement, and other material topics.

"Our ESG report reflects our commitment to accountability and transparency with key stakeholders and details the progress we have made over the last twelve months," said Christopher Rossi, President & CEO. "I am proud of the work our employees have demonstrated in executing our ESG strategy globally, and I look forward to continuing our ESG journey."

Highlights from the report include:

• Reductions in Scope 1 and Scope 2 greenhouse gas emissions, energy consumption, water consumption, and an increase in waste recycling.
• Enhancements to EHS Management System to streamline the collection and analysis of key metrics that help improve safety programmes.
• Recordable incident rate continues to perform at a world-class level – 148 per cent better than U.S. industry standard.
• Advancements in the development and engagement of employees through various educational programmes including Leadership Excellence Advancement Programme, EMERGE early-career rotational development programme and annual employee engagement survey.
• Implemented initiatives to advance four diversity and inclusion pillars: awareness, acquisition, development and community through Employee Resource Groups, Allyship and Mentor-Mentee programmes.
• Engagement in local communities through financial donations and employee volunteerism, including promoting STEM education and careers at schools and colleges.

Topics included in the ESG assessment align with GRI Standards Topics, the SASB Industrial Machinery & Goods 2018 Sustainability Accounting Standards and other ESG topics of interest to investors and other key stakeholders. Kennametal also recognises the importance of the United Nation's Sustainability Development Goals (SDG) and has aligned the SDGs with priority topics.

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Source: PRNewswire