Flowserve Sustainability Program Overview
Our approach to sustainability is structured around environmental, social and governance (ESG) principles and incorporates our values and business priorities so that every person across Flowserve can contribute to our purpose. Our sustainability program is comprised of three key pillars – Planet, People and Operational Excellence.
Planet – Addresses our culture and how we support our associates and contribute to the communities where our team members live and work.
People – Focuses on reducing our environmental footprint and creating/advancing technology and solutions that support the energy transition.
Operational Excellence – Promotes strong leadership and governance and drives efficient business execution and innovation.
We engage with customers, communities, governments and the public in an ethical and socially responsible manner and strive to continuously improve our sustainability efforts and operations.
This starts with fostering a work environment that supports health and safety as well as diversity, equity and inclusion. Next, we are taking steps to increase energy efficiency, reduce carbon emissions, conserve water and reduce waste in our operations.
We also partner with suppliers who share our commitment to ethics, human rights and environmental stewardship. This enables Flowserve to provide superior products and services that advance environmental and societal improvement and progress.
In addition, we maintain a strong governance structure to manage risks and capitalize on market opportunities. In the process, we compile social and environmental metrics to gauge our progress; we share sustainability metrics data with stakeholders as we seek to continually improve our performance.
By taking these actions, Flowserve promotes the well-being and prosperity of the planet, people and our business.
Flowserve’s environmental goals are aimed to increase energy efficiency, reduce carbon emissions, conserve water and eliminate waste in our operations.
Flowserve is committed to fostering diversity, equity and inclusion as well prioritizing the health, wellness and safety of more than 17,000 associates worldwide.
Flowserve strives to deliver unmatched value to our customers and supplier partners through operational excellence, continuous improvement and innovation.
Focusing on a sustainable future and making a lasting impact on our communities around the world
We are purposeful about our commitment to sustainability – from the products we design and build to reducing our carbon intensity and making a lasting impact in our communities around the world.
As a part of our purpose, we are invested in supporting and solving the environmental and social issues we face today and tomorrow. We will continue to adapt, innovate and deliver for current and future generations by addressing ESG areas through our sustainability program.
We set an ambitious target to reduce carbon emission intensity by 40% by the year 2030
As part of our commitment to sustainability, Flowserve set a carbon reduction target to reduce operating carbon intensity 40% by 2030, using 2015 as a baseline year.
We aim to reduce combined direct (Scope 1) and indirect (Scope 2) carbon emissions of 29.4 Tonne CO2-equivalent (CO2e) per million USD dollars in sales revenue in 2015 to 17.4 Tonne CO2e or lower by 2030. We plan to meet this target through energy efficiency improvements, renewable energy project development and other measures to offset our greenhouse gas emissions.
As of December 31, 2020, Flowserve has achieved 57% of the 2030 carbon reduction target.
We are diversifying, decarbonizing and digitizing our offerings and operations to enable our customers
Globally, there is a growing need to limit – or even reduce – the world’s carbon emissions.
We recognize that governments and corporations around the world are increasingly focused on efforts to minimize climate change and are making investments to reduce their greenhouse gas emissions.
Today, our products and services can enable our customers’ energy transition and be utilized in many aspects of their carbon reduction efforts.
Flowserve is diversifying, decarbonizing and digitizing to support the global energy sector's transformation toward low-carbon sources.