CLEVELAND, June 9, 2021 /PRNewswire/ -- The
Sherwin-Williams Company (NYSE: SHW) has issued its 2020
Sustainability Report: Building in the Good, reflecting
progress made in its environmental, social and governance (ESG)
journey, as well as introducing its new sustainability goals and
aspirations. The report is available at
https://sustainability.sherwin-williams.com/doc/Sustainability_Report.
Sherwin-Williams is proud of its ESG track record and
accomplishments. Recent Company achievements include:
- Reduced carbon emissions by nearly 17% since 2017
- Reduced employee injuries by nearly 50% since 2015
- Collected 2.5 million gallons of paint for recycling since
2018
- Developed the first non-BPA epoxy coatings for food and
beverage cans
- Developed a powder coating comprised of 25% pre-consumer
recycled plastic
- Expanded the number of sustainably advantaged products* to
represent an estimated 30% of the product portfolio
- Recognized by Forbes® Magazine as one of
America's Best Employers for Diversity, New Graduates, Women and
Veterans
- Strengthened communities through employee service on more than
120 nonprofit boards and financial support of more than 800
nonprofit organizations
"At Sherwin-Williams, sustainability has long been ingrained in
our values and how we conduct business. I am extremely proud of our
global team's many accomplishments and the progress we continue to
make while delivering value to our employees, customers,
communities, shareholders and other stakeholders," says
John G. Morikis, Sherwin-Williams
Chairman, President and Chief Executive Officer. "This report
reflects our holistic view of sustainability and an acceleration of
our ESG journey, as we introduce new goals and aspirations under a
redefined framework consistent with our corporate purpose to
inspire and improve the world by coloring and protecting what
matters."
Consistent with its purpose and commitment to continuous
improvement, the Company completed a comprehensive review of its
sustainability strategy in 2020. The review resulted in an
enhanced sustainability framework focused on three pillars:
Environmental Footprint, Product Blueprint and Social Imprint. All
three pillars sit on a strong foundation of Governance and Ethics
and are described in the new report.
Environmental Footprint focuses on the
Company's facilities, stores and fleet. Sherwin-Williams is
committed to responsible consumption and production, and to
reducing the environmental footprint of its global operations. By
2030, the Company intends to:
- Reduce absolute Scope 1 and 2 greenhouse gas emissions by
30%
- Increase renewable energy to 50% of total electricity
usage
- Increase operational energy efficiency by 20%
- Reduce waste disposal intensity by 25%
Product Blueprint focuses
on product stewardship and chemical management. The Company's
Sustainability by Design™ initiative more formally integrates
sustainability into the innovation and product development process.
In addition, the Company is further defining and expanding its
portfolio of sustainably advantaged products.* Through life cycle
thinking and a strong commitment to product stewardship,
Sherwin-Williams continues to provide world-class products in a
safe and responsible manner. To further this progress, the Company
intends to:
- Implement the Sustainability by Design process across the
enterprise in 2021
- Enhance plans in 2021 for expanding our portfolio of
sustainably advantaged products
- Develop a consistent process in 2021 to measure and assess
Scope 3 emissions
Social Imprint focuses on health
and safety, employee engagement, inclusion, diversity and equity,
and community involvement. To further its commitment to providing a
safe, rewarding and welcoming workplace, the Company has set new
goals and aspires to:
- Reduce its recordable case rate to 0.8 by 2025
- Reduce ergonomic injuries through two ergonomic interventions
per year in each manufacturing site
- Increase women in management roles to 30% by 2025
- Increase under-represented racial/ethnic groups in U.S.
management roles to 30% by 2025
- Achieve and improve upon a favorable score on the
Sherwin-Williams Inclusion Index
"We have put dedicated resources into further formalizing and
extending what sustainability means for Sherwin-Williams," comments
Robert Israel, Vice President,
Global Sustainability. "We are challenging ourselves with ambitious
goals that align with our sustainability journey and positively
impact our employees, customers, shareholders, communities and the
planet."
The 2020 Sustainability Report offers new and expanded sections
to provide additional context and detail to the Company's holistic
sustainability approach. These include inclusion, diversity and
equity, COVID-19 response, new features stories and an appendix
containing the Sustainability Accounting Standards Board (SASB)
Index and the Company's Investor ESG Summary.
In preparing this report, the Company referenced sustainability
reporting frameworks, such as the Global Reporting Initiative (GRI)
and the Sustainability Accounting Standards Board (SASB).
*Sustainably advantaged products are products that achieve a
level of third-party green chemistry, ecolabel recognition or can
be shown through data to be more sustainable than what is currently
the norm for the industry. These products incorporate green
chemistry solutions/substitutions, have reduced impact on human
health and the environment, meet stringent leadership criteria or
improve customer sustainability in a defined and measurable
way.
About The Sherwin-Williams Company
Founded in 1866,
The Sherwin-Williams Company is a global leader in the manufacture,
development, distribution, and sale of paints, coatings and related
products to professional, industrial, commercial, and retail
customers. Sherwin-Williams manufactures products under well-known
brands such as Sherwin-Williams®, Valspar®,
HGTV HOME® by SherwinWilliams, Dutch Boy®,
Krylon®, Minwax®, Thompson's® Water Seal®,
Cabot® and many more. With global headquarters in
Cleveland, Ohio,
Sherwin-Williams® branded products are sold exclusively
through a chain of more than 5,000 company operated stores and
facilities, while the Company's other brands are sold through
leading mass merchandisers, home centers, independent paint
dealers, hardware stores, automotive retailers, and industrial
distributors. The Sherwin-Williams Performance Coatings Group
supplies a broad range of highly-engineered solutions for the
construction, industrial, packaging and transportation markets in
more than 120 countries around the world. Sherwin-Williams shares
are traded on the New York Stock Exchange (symbol: SHW). For more
information, visit www.sherwin.com.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains certain
"forward-looking statements," as defined under U.S. federal
securities laws. These statements can be identified by the use of
forward-looking terminology such as "believe," "expect," "may,"
"will," "should," "project," "could," "plan," "goal," "target,"
"potential," "seek," "intend," "aspire" or "anticipate" or the
negative thereof or comparable terminology. These forward-looking
statements are based upon current expectations, predictions,
estimates, assumptions and beliefs concerning future events and
conditions. Readers are cautioned not to place undue reliance on
any forward-looking statements. Forward-looking statements are
necessarily subject to risks, uncertainties and other factors, many
of which are outside the control of the Company that could cause
actual results to differ materially from such statements and from
the Company's historical performance and experience. These risks,
uncertainties and other factors include such things as: general
business and economic conditions; the Company's ability to
successfully integrate past and future acquisitions into its
existing operations, as well as the performance of the businesses
acquired; strengths of retail and manufacturing economies and the
growth in the coatings industry; changes in the Company's
relationships with customers and suppliers; changes in raw material
availability and pricing; adverse weather conditions or impacts of
climate change, natural disasters and public health crises,
including the COVID-19 pandemic; the duration, severity and scope
of the COVID-19 pandemic and the actions implemented by
international, federal, state and local public health and
governmental authorities to contain and combat the outbreak and
spread of COVID-19, which may exacerbate one or more of the
aforementioned and/or other risks, uncertainties and factors more
fully described in the Company's reports filed with the Securities
and Exchange Commission (SEC); and other risks, uncertainties and
factors described from time to time in the Company's reports filed
with the SEC. Since it is not possible to predict or identify all
of the risks, uncertainties and other factors that may affect
future results, the above list should not be considered a complete
list. Any forward-looking statement speaks only as of the date on
which such statement is made, and the Company undertakes no
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or
otherwise.
Investor Relations Contacts:
Jim Jaye
Senior Vice President, Investor Relations & Corporate
Communications
216.515.8682
investor.relations@sherwin.com
Eric Swanson
Vice President, Investor Relations
216.566.2766
investor.relations@sherwin.com
Media Contact:
Julie
Young
Vice President, Global Corporate Communications
216-515-8849
corporatemedia@sherwin.com
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SOURCE The Sherwin-Williams Company