Ferguson Publishes FY2022 ESG Report, Annual Report and Notice of Annual General MeetingThursday, October 27, 2022
Ferguson plc (NYSE: FERG; LSE: FERG) today published its FY2022 Environmental, Social and Governance (ESG) Report; FY2022 Annual Report; and FY2022 Notice of Annual General Meeting and Governance Disclosures.
Ferguson’s FY2022 ESG Report, titled “Building influence. Delivering impact” communicates the Company’s ongoing commitment to responsible conduct and sustainable business practices.
Key highlights include:
- Ferguson’s combined Scope 1 and 2 carbon emissions per million USD revenue decreased by 30.7% compared to 2019/2020 baseline, a 17% year-over-year reduction. This decrease partially benefited from the Company’s ability to manage and pass along product price inflation in revenue.
- The Company announced two fleet electrification pilot programs for medium- and heavy-duty trucks to help lower carbon emissions in its fleet.
- Ferguson generated more than $3 billion in revenue from sustainable products, a 20% increase from FY2021. Sustainable products are defined as those that carry third-party certification such as Energy Star, WaterSense or Forest Stewardship Council.
- The Company launched a New Hire Health and Safety 30-60-90 Onboarding Training Program for new associates in distribution centers, branches and headquarter locations.
- Ferguson created an Environmental Leadership Council to influence the direction of its environmental product strategy, while providing direct access to customer insights and market trends.
- The Company’s executive compensation framework will incorporate ESG considerations that align with the Company’s sustainability commitments beginning in FY2023.
“As detailed in the FY2022 ESG Report, we continue to make progress against our environmental, social and governance priorities,” said Ferguson CEO Kevin Murphy. “We have a great opportunity ahead to help transform the Company in which we work, the industries in which we operate and the world in which we live.”
Ferguson’s FY2022 Annual Report, titled “Together We Build Better,” contains its Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Annual Report provides an overview of how Ferguson helped make its customers’ complex projects simple, successful and sustainable in FY2022.
FY2022 Notice of Annual General Meeting and Governance Disclosures
Ferguson’s FY2022 Notice will be distributed to shareholders together with the FY2022 Annual Report and a form of proxy for the Annual General Meeting (“AGM”). The AGM will take place at 3 p.m. GMT (10:00 a.m. ET) on Wednesday, November 30, 2022 at the offices of Freshfields Bruckhaus Deringer, 100 Bishopsgate, London, EC2P 2SR, United Kingdom.
More information on the ESG Report, Annual Report and Notice of Annual General Meeting, can be found in the news release, here.