MINNEAPOLIS--(BUSINESS WIRE)--Tennant Company ("Tennant" or the "Company") (NYSE: TNC), a world leader in designing, manufacturing, and marketing solutions to reinvent how the world cleans, has released its annual Sustainability Report. The report, detailing achievements for the 2022 fiscal year, also details the development of the Company’s new Thriving People, Healthy Planet framework.
“By embedding sustainability into how we work, we’ll continue to deliver solutions that help our customers solve their biggest challenges and meet their sustainability targets,” said President and CEO Dave Huml. “Working within our own business and with our stakeholders, we’ll help people thrive and contribute to a healthier planet.”
2023 (FY22) Sustainability Report
The 2023 (FY22) report marks the conclusion of the Company’s previous sustainability strategy, developed in 2014. Since that time, Tennant has made significant progress against its goals and ambitions. Highlights include:
- Performing a net-zero analysis and committing to becoming net zero by 2040 by submitting draft near- and long-term company-wide greenhouse gas reduction targets to the Science Based Target initiative (SBTi) for validation
- Expanding greenhouse gas (GHG) reporting boundaries to include recent acquisitions while still reducing the emissions from use of the Company’s products by 6% from the 2021 baseline year
- Sourcing 89% of global electricity consumption from renewable energy sources
- Receiving a fifth consecutive A- Leadership level designation from the CDP Climate Change Program
- Investing over $6 million in our local communities through the Tennant Foundation since 2014
- Making strides on commitments to DE&I, including a training program completed by more than 90% of senior management and global leadership in 2022
New Sustainability Framework—Thriving People, Healthy Planet
Tennant recently announced a new sustainability framework defining the Company’s material sustainability issues and outlining where it can drive the most meaningful impact for all stakeholders. The new sustainability framework is organized into two pillars—Thriving People and Healthy Planet. Each pillar targets key impact areas where the Company intends to drive progress. These impact areas include employee success, social impact, shared spaces, climate and energy, water and chemical use, and circular products and waste.
The Thriving People, Healthy Planet framework serves as the lens for the Company to set goals, align plans, and continue our journey of integrating sustainability into our business.
Thriving People: Women in Leadership Ambition
With the launch of the 2023 (FY22) Sustainability Report, Tennant Company is announcing the second set of goals under the new framework: a new ambition to increase the percentage of women in leadership by 50% by the end of 2030.
“At Tennant, we are setting bold commitments to build and champion an inclusive workforce that represents the diversity of our customers and the communities we serve,” said Director of Sustainability and ESG Reilly Goodwin. “We believe that increasing representation in our workforce and in leadership is a business imperative, which is why we are announcing our first set of actions to increase the number of women in leadership roles at Tennant.”
Tennant Company will continue to advance its DE&I journey to ensure that it is an inclusive work environment where all employees feel like they belong and can thrive. Progress against this goal and Tennant’s other sustainability and ESG commitments are reported on each year in the Company’s annual Sustainability Report. The full Tennant Company 2023 (FY22) Sustainability Report may be viewed and downloaded on the Company’s investor website.
About Tennant Company
Founded in 1870, Tennant Company (TNC), headquartered in Eden Prairie, Minnesota, is a world leader in the design, manufacture and marketing of solutions that help create a cleaner, safer, and healthier world. Its products include equipment for maintaining surfaces in industrial, commercial, and outdoor environments; detergent-free and other sustainable cleaning technologies; and cleaning tools and supplies. Tennant’s global field service network is the most extensive in the industry. Tennant Company had sales of $1.09 billion in 2022 and has approximately 4,250 employees. Tennant has manufacturing operations throughout the world and sells products directly in 15 countries and through distributors in more than 100 countries. For more information, visit www.tennantco.com and www.ipcworldwide.com. The Tennant Company logo and other trademarks designated with the symbol “®” are trademarks of Tennant Company registered in the United States and/or other countries.
Forward-Looking Statements
Certain statements contained in this document are considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These statements do not relate to strictly historical or current facts and provide current expectations or forecasts of future events. Any such expectations or forecasts of future events are subject to a variety of factors. These include factors that affect all businesses operating in a global market as well as matters specific to us and the markets we serve. Particular risks and uncertainties presently facing us include: geopolitical and economic uncertainty throughout the world; uncertainty surrounding the impacts and duration of the COVID-19 pandemic; our ability to comply with global laws and regulations; our ability to adapt to customer pricing sensitivities; the competition in our business; fluctuations in the cost, quality or availability of raw materials and purchased components; our ability to adjust pricing to respond to cost pressures; unforeseen product liability claims or product quality issues; our ability to attract, retain and develop key personnel and create effective succession planning strategies; our ability to effectively develop and manage strategic planning and growth processes and the related operational plans; our ability to successfully upgrade and evolve our information technology systems; our ability to successfully protect our information technology systems from cybersecurity risks; the occurrence of a significant business interruption; our ability to maintain the health and safety of our workers; our ability to integrate acquisitions; and our ability to develop and commercialize new innovative products and services.
We caution that forward-looking statements must be considered carefully and that actual results may differ in material ways due to risks and uncertainties both known and unknown. Information about factors that could materially affect our results can be found in our 2022 Form 10-K. Shareholders, potential investors and other readers are urged to consider these factors in evaluating forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.
We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Investors are advised to consult any further disclosures by us in our filings with the Securities and Exchange Commission and in other written statements on related subjects. It is not possible to anticipate or foresee all risk factors, and investors should not consider any list of such factors to be an exhaustive or complete list of all risks or uncertainties.
