Ferguson publishes FY2023 ESG Report ‘Building Momentum, Sustainably’
Wednesday, October 11, 2023Ferguson plc (NYSE: FERG; LSE: FERG) today published its fiscal year (“FY”) 2023 ESG Report, outlining the Company’s progress on its ESG strategy and vision to minimize the environmental impact of its operations and foster a culture that is safe, inclusive, accepting and engaging for all its associates.
“ESG may be how it’s described today, but Ferguson has lived these values for the past 70 years,” said Kevin Murphy, Ferguson CEO. “We help take care of our people and the planet, and aim to run a sustainable business our partners can count on for years to come.”
Key highlights from the FY2023 ESG Report include:
- Remained steadfast in its commitment to its First in Safety culture, lowering its total recordable injury rate (TRIR) by 14% and its lost time rate (LTR) by 21% in the fiscal year.
- Achieved 33% revenue intensity reduction (per million USD of revenue) in Scope 1 and 2 GHG emissions since 2019/2020 baseline year by holding absolute emissions steady against an increasing revenue.
- Signed a 65-megawatt Virtual Power Purchase Agreement (VPPA) with ENGIE North America, which is expected to generate enough clean wind power to match a significant portion of Ferguson’s annual electricity use in the United States and Canada.
- Advanced Ferguson’s Environmental Product Strategy, furthering its ability to help its customers achieve their sustainability goals through products and solutions that span nine customer groups.
- Expanded its efforts to build a diverse talent pipeline, launching three new learning programs for female leaders.
- Demonstrated its commitment to building a sustainable skilled trades pipeline by becoming a founding sponsor of Women in Plumbing and Piping (WiPP), a nonprofit dedicated to empowering and supporting women in the plumbing industry.
“Our most significant opportunity is to foster greater collaboration across our customer groups – bringing together our core strengths,” added Murphy. “By expanding our role throughout the entire project lifecycle we can solve big problems and help our customers and the communities prepare for a more sustainable future.”
Learn more about Ferguson’s ESG strategy and read the FY2023 ESG here.
