SEGUIN, Texas, March 7, 2022 /PRNewswire/ -- Alamo Group
Inc. (NYSE: ALG) announced today a 2030 target to reduce its
greenhouse gas emissions by 50% as compared to its 2019 base
year. This target covers Scope 1 & 2 emissions as defined
in The Greenhouse Gas (GHG) Protocol Corporate Accounting and
Reporting Standards published by the World Business Council for
Sustainable Development and World Resources Institute.
Additional information regarding the Company's sustainability goals
and actual emissions for the past three years will be included in
its forthcoming 2021 Sustainability Report.
Dan Malone, Alamo Group's
Executive Vice President and Chief Sustainability Officer,
commented, "We are pleased to announce an initial 2030 target for
reducing our Company's greenhouse gas emissions. Setting meaningful
Scope1 & 2 GHG emissions goals is an important step
in the right direction. Since 2019, our Company has reduced,
in absolute terms, its total energy consumption by about 9%, and we
anticipate that we will further reduce it by an additional 30% by
2030. More efficient use of energy, which accounts for 97% of
our GHG emissions, will be a primary driver toward achieving our
2030 emissions goal. Investments in LED lighting and energy
management systems, as well as energy efficient welding, laser
cutting, and air compression equipment have been, and are expected
to be, the major contributors in this effort. Installing more
efficient heating systems and other building improvements to reduce
winter heat loss are also expected to produce significant favorable
impacts.
"Not only do we plan to become more energy efficient, but we
expect the electric power we use in 2030 will also have a much
lower carbon footprint. Our Company plans to make additional
investments in onsite renewable power generation facilities,
and we will continue to purchase power from renewable and other low
carbon sources to incentivize power companies to continue to lower
the carbon footprint of electricity taken from the grid.
Jeff Leonard, Alamo Group's
President and Chief Executive Officer commented, "We've made very
good progress to date, and our early successes have encouraged us
to set the more aggressive target. We still have many
opportunities to make internal improvements, which not only reduce
our GHG emissions, but also provide an excellent return on
investment for our shareholders. Scaling up these best
practices is an immediate priority while we concurrently develop
plans for measuring and implementing sustainable business practices
throughout our supply chain."
About Alamo Group
Alamo Group is a leader in the design, manufacture, distribution
and service of high quality equipment for infrastructure
maintenance, agriculture and other applications. Our products
include truck and tractor mounted mowing and other vegetation
maintenance equipment, street sweepers, snow removal
equipment, excavators, vacuum trucks, other industrial equipment,
agricultural implements, forestry equipment and related
after-market parts and services. The Company, founded in 1969,
has approximately 4,200 employees and operates 29 plants in North
America, Europe, Australia
and Brazil as of December 31, 2021. The corporate offices of Alamo
Group Inc. are located in Seguin, Texas.
Forward Looking Statements
This release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties,
which may cause the Company's actual results in future periods
to differ materially from forecasted results. Among those factors
which could cause actual results to differ materially are the following: overall market demand, continuing
impacts from the COVID-19 pandemic including more significant
supply chain disruptions, further reductions in customer
demand, sales and profitability declines, operational disruptions,
full or partial facility closures, our inability to achieve
planned ESG-related targets, and other similar impacts,
competition, weather, seasonality, currency- related issues,
and other risk factors listed from time to time in the Company's
SEC reports. The Company does not undertake any
obligation to update the information contained herein,
which speaks only as of this date.
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SOURCE Alamo Group Inc.