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09/25/2023

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Worthington Industries Releases 2023 Corporate Citizenship and Sustainability Report

COLUMBUS, OH – September 25, 2023 Worthington Industries, Inc. (NYSE: WOR) released today its Fiscal Year 2023 (FY23) Corporate Citizenship and Sustainability Report documenting the Company’s key initiatives and related performance in areas such as environmental footprint and innovation, workforce development, corporate citizenship and governance. The report can be viewed here.

Andy Rose, president and CEO, Worthington Industries, said, “We are making strategic choices to reduce our environmental footprint, innovate sustainable offerings, improve processes with technology, and expand and deepen our commitments in our communities. Thanks to our employees’ efforts, we continue to make significant progress.”

Report highlights include:

  • Recycling, Reusing and Diverting: Worthington has a dedicated team focused on recycling or reusing nearly 100 percent of scrap steel. Companywide the business diverted 97 percent of total waste from landfills.
  • Reducing Carbon Footprint: Lowered greenhouse gas emissions intensity (Scope 1 and 2 emissions per $1,000/revenue) by 36 percent to 0.061 compared to levels tracked in CY20. The Company remains committed to net-zero emissions by 2050. 
  • Increasing Use of Renewable Energy: Measured a 1,540 percent increase in gigajoules used in FY23 compared to CY20. The Leon, Mexico, facility meets nearly 100 percent of its electrical demand through solar panels.
  • Enhancing an Inclusive and Diverse Workforce: Throughout FY23, Worthington filled 53 percent of open salaried positions with diverse employees.
  • Prioritizing a Safe Workplace: At the end of 2022, Worthington’s Total Case Incident Report per 100 employees was 1.8x better than industry average within the Primary Metal Manufacturing category as reported by the U.S. Bureau of Labor Statistics.
  • Supporting Communities: The Worthington Industries Foundation contributed $2.9 million in FY23 to 69 organizations championing causes across health, human services, youth and education and civic causes.
  • Spending Locally: Ninety-six percent of Worthington’s procurement spending in the United States went to domestic suppliers as part of a responsible supply chain initiative.

In addition to the advancements Worthington is making in its own operations, the Company remains focused on product innovations that further enhance the sustainability and livability of our world. For example, the Sustainable Energy Solutions business is supplying H2 and compressed natural gas fueling systems for buses in Germany while also supporting an emission-free hydrogen-powered shunting introduction in Poland.

Worthington Industries’ Tempel business, which manufactures precision magnetic steel laminations, estimates that its products saved more than 1.2 metric tons of carbon emissions in FY23. Earlier this summer, Tempel earned a prestigious Global Supplier Award from Dana Incorporated as the top global supplier of the year for its Lead Electric Propulsion category. Dana is a global leader in drivetrain and e-propulsion systems.

Newsweek included Worthington Industries in its 2023 listing of America’s Most Responsible Companies. This annual listing honors “companies that actually mean it when they say they are serious about being good corporate citizens.” In October 2022, Investor’s Business Daily recognized Worthington Industries as the nation’s leading company “with superior Environmental, Social and Governance (ESG) ratings combined with strong fundamental and technical stock performance.

Worthington Industries developed its FY23 Corporate Citizenship and Sustainability Report with reference to Global Reporting Initiative (GRI) Standards, Iron & Steel Producers Standards of the Sustainability Accounting Standards Board (SASB), as well as elements of the Industrial Machinery & Goods and Building Products & Furnishings Sustainability Accounting Standards and the Task Force on Climate-Related Financial Disclosures (TCFD). The Company continues to map progress on material topics aligned with the United Nations Sustainable Development Goals (SDGs).

 

About Worthington Industries
Worthington Industries (NYSE:WOR) is a leading industrial manufacturing company pursuing its vision to be the transformative partner to its customers, a positive force for its communities and earn exceptional returns for its shareholders. For over six decades, the Company has been delivering innovative solutions to customers spanning industries such as automotive, energy, retail and construction. Worthington is North America’s premier value-added steel processor and producer of laser welded solutions and electrical steel laminations that provide lightweighting, safety critical and emission reducing components to the mobility market. Through on-board fueling systems and gas containment solutions, Worthington serves the growing global hydrogen ecosystem. The Company’s focus on innovation and manufacturing expertise extends to market-leading consumer products in tools, outdoor living and celebrations categories, sold under brand names, Coleman®, Bernzomatic®, Balloon Time®, Level5 Tools®, Mag Torch®, Well-X-Trol®, General®, Garden-Weasel®, Pactool International® and Hawkeye™; as well as market leading building products, including water systems, heating & cooling solutions, architectural and acoustical grid ceilings and metal framing and accessories.

Headquartered in Columbus, Ohio, Worthington operates 52 facilities in 15 states and nine countries, sells into over 90 countries and employs approximately 9,000 people. Founded in 1955, the Company follows a people-first Philosophy with earning money for its shareholders as its first corporate goal. Relentlessly finding new ways to drive progress and transform, Worthington is committed to providing better solutions for customers and bettering the communities where it operates by reducing waste, supporting community-based non-profits and developing the next generations of makers.

Safe Harbor Statement
Worthington Industries wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 (the “Act"). Statements by Worthington Industries which are not historical information constitute "forward looking statements" within the meaning of the Act. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those projected. Factors that could cause actual results to differ materially include risks, uncertainties and impacts described from time to time in Worthington Industries’ filings with the Securities and Exchange Commission, including those related to COVID-19 and the various actions taken in connection therewith, which could also heighten other risks.