Fastenal Company proudly announced the publication of its inaugural ESG Report. The report — representing Fastenal’s progress in various environmental, social, and governance aspects during 2021 — marks a significant step forward in the company’s ESG journey.
Click here to learn more and to download Fastenal’s ESG report.
Fastenal offers a broad range of industrial supplies, including fasteners, safety, and metal-cutting products. The company is planning to publish annual ESG reports moving forward.
A unique feature of the report (and of Fastenal’s ESG program) is the company’s sustainability solutions — a portfolio of services to help customers accelerate their own ESG programs. It speaks to a larger theme: As a supply-chain partner for thousands of organizations around the globe, Fastenal is working to make a positive impact that extends well beyond its own operations.
“Our culture centers on a core belief in people, and our strategy centers on reducing resource consumption in our customers’ supply chains – principles we believe create a natural alignment of our growth goals and the ESG priorities of our stakeholders,” said Dan Florness, president and CEO of Fastenal. “The Fastenal ‘Blue Team’ is working hard to be a force for positive change — in our business, for our customers, and across global supply chains — and we’re proud to share their story in this inaugural report.”
The report was produced with reference to the Global Reporting Initiative (GRI) standards and aligns with the ESG disclosure and reporting frameworks established by the Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-Related Financial Disclosures (TCFD).
Highlights include:
- Continued improvement to Fastenal’s workplace safety ratings, the TRIR (Total Recordable Incident Rate) and EMR (Experience Modifier Rate), which are significantly better than the industry average and contributed to Fastenal being named one of America’s Safest Companies by EHS Today.
- Structural changes to Fastenal’s brick-and-mortar footprint and use of fuel within its captive transportation fleet, setting the stage for lower relative emissions and reduced future resource consumption.
- Investment in additional resources and new roles focused on coordinating and bringing visibility to ESG-related activities throughout the organization.
Filed Under: Fastener industry news