Howmet Aerospace has released its 2021 Environmental, Social, and Governance (ESG) report. The report highlights the company’s commitment and approach to sustainability, as well as detailed results against its key metrics, which are designed to drive significant positive impacts for its stakeholders and surrounding communities.
Headquartered in Pittsburgh, Pennsylvania, Howmet is a global provider of advanced engineered solutions for the aerospace and transportation sectors, with a focus on jet engine components, aerospace fastening systems, and airframe structural components necessary for mission-critical performance and efficiency.
“Howmet Aerospace is committed to improving our environmental footprint, creating a work environment where all employees can thrive, investing in the communities where we operate and maintaining good governance practices,” said John C. Plant, company executive chairman and CEO. “These values, which are specified in our Code of Conduct, form the basis of our ESG plans and are reflected in our daily work.”
The ESG report highlights examples of Howmet’s key technologies and advanced products that help customers reduce their environmental impacts by lowering their fuel consumption and greenhouse gas (GHG) emissions. It also shares the company’s commitment to sustained action to GHG emissions with a new target to deliver a 21.5% reduction in GHG emissions by 2024, based on projected business volume.
Howmet Aerospace has identified and funded 100 projects that will support this goal.
“We have also formed a team that is preparing comprehensive plans to further reduce our GHG emissions by 2030 — taking us closer to the 2050 goal of net zero,” added Plant. “We will communicate these 2030 targets as soon as we have confidence that they are achievable.”
Among highlights in the 2021 ESG report:
- A 6.2 percent decrease in GHG emissions and 3.0 percent decline in energy consumption compared to 2020.
- More than five million Howmet Aerospace BobTail lockbolts were used to assemble wind turbines in North America and Europe, a six percent increase over 2020 due to continued proliferation and adoption at leading wind-turbine manufacturers globally.
- There were 62 million Howmet Aerospace BobTail lockbolts and 16 million Howmet BOM blind fasteners used to assemble 5.6 gigawatts of solar arrays, preventing 138,000 metric tons of carbon dioxide emissions over their 25-year lifetime.
- The Howmet Aerospace Foundation approved more than $4.7 million in STEM focused grants and supported organizations as diverse as the Carnegie Science Center, the Pittsburgh Promise, Rainbow Railroad, Latino Health Access, Minority Veterans of America and Standup for the Cure.
- An 8.3 percent decline in days away, restricted and transfer rate compared to 2020.
- A total of 81 percent of the company’s key suppliers have sustainability programs considered leading or active.
- Howmet was named one of the “Best Places to Work for LGBTQ Equality” by the Human Rights Campaign Foundation.
- The company was recognized by 50/50 Women on Boards for having 40% of its Board of Directors made up of women.
- There were zero employee and contractor fatalities.
The report was developed in accordance with the core option of the 2020 GRI Standards and standards from the Sustainability Accounting Standards Board (SASB). In addition, the report is also aligned with the Task Force on Climate-Related Financial Disclosures (TCFD) and is available here.