Enhanced Reporting Highlights Achievements
in Sustainability-Enabling Product and Service Solutions and
Reduced GHG Emissions
Fortive Corporation ("Fortive") (NYSE: FTV) announced today it
has published its annual Sustainability Report, detailing the
company’s progress and continued commitment to achieving ambitious
goals for a sustainable future.
“Sustainability is inextricably linked to our shared
purpose—essential technologies for the people who accelerate
progress. Our vision and commitment to Sustainability are both
expansive and ambitious,” said James A. Lico, President and Chief
Executive Officer of Fortive. “Our goal is clear: to deliver
innovative solutions that empower our customers to make the world
stronger, safer, and more sustainable.”
The report spotlights Fortive’s strategic framework for
prioritizing the issues that drive progress for customers,
partners, employees, and shareholders. Consistent with prior years,
the 2023 report is grounded in Fortive’s impact assessment and has
been prepared in alignment with the Global Reporting Initiative
(GRI), Sustainability Accounting Standards Board (SASB), Task Force
on Climate-related Financial Disclosures (TCFD), United Nations
Sustainable Development Goals, and the United Nations Global
Compact.
Highlights from the 2023 report include:
- Significant Greenhouse Gas (GHG) Emissions Reductions:
Achieved a 25.6% absolute reduction in Scope 1 and 2 GHG emissions,
compared to 2019 baseline, tracking toward our 2029 goal to reduce
absolute Scope 1 and 2 GHG emissions 50% from 2019 levels.
- Comprehensive GHG Emissions Tracking: The 2023 report
expands GHG emissions accounting to include relevant Scope 3
emissions, to better understand the related impacts and
opportunities and drive greater efficiency in the near and long
term.
- Delivered Sustainable Products and Services:
Approximately 60% of Fortive’s revenue is generated from products
and services that deliver Sustainability-related outcomes and are
aligned with the United Nations Sustainable Development Goals.
- Maintained Responsible Sourcing and Supplier Diversity:
Consistent with the Fortive Supplier Code, assessed more than 200
direct material suppliers, with 100% receiving a positive rating,
and made progress toward 2025 aspirational goals in supplier
diversity.
- Continued Third Party Validation: Named for the fifth
consecutive year on Newsweek’s Most Responsible Companies list and
achieved 100% compliance with the Human Rights Campaign Corporate
Equality Index for the seventh consecutive year.
The full report can be found at fortive.com/sustainability,
along with more information about the company's Sustainability
programs, performance, and commitments.
ABOUT FORTIVE
Fortive is a provider of essential technologies for connected
workflow solutions across a range of attractive end-markets.
Fortive’s strategic segments - Intelligent Operating Solutions,
Precision Technologies, and Advanced Healthcare Solutions - include
well-known brands with leading positions in their markets. The
company’s businesses design, develop, service, manufacture, and
market professional and engineered products, software, and
services, building upon leading brand names, innovative
technologies, and significant market positions. Fortive is
headquartered in Everett, Washington and employs a team of more
than 18,000 research and development, manufacturing, sales,
distribution, service and administrative employees in more than 50
countries around the world. With a culture rooted in continuous
improvement, the core of our company’s operating model is the
Fortive Business System. For more information please visit:
www.fortive.com.
FORWARD-LOOKING STATEMENTS
Statements in this release that are not strictly historical,
including statements regarding anticipated achievement of
sustainability goals, sustainability impact, financial results,
delivery of solutions, and any other statements identified by their
use of words like “anticipate,” “expect,” “believe,” “outlook,”
“guidance,” “target,” or “will” or other words of similar meaning
are “forward-looking” statements within the meaning of the federal
securities laws. These factors include, among other things:
deterioration of or instability in the economy, the markets we
serve, international trade policies, the condition of the financial
markets and the banking systems, security breaches or other
disruptions of our information technology systems, public health
measures, our ability to adjust purchases, supply chain management,
and manufacturing capacity to reflect market conditions and
customer demand, reliance on sole sources of supply, changes in
relations with China, contractions or lower growth rates and
cyclicality of markets we serve, competition, changes in industry
standards and governmental regulations, our ability to recruit and
retain key employees, our ability to successfully identify,
consummate, integrate and realize the anticipated value of
appropriate acquisitions and successfully complete divestitures and
other dispositions, our ability to develop and successfully market
new products, software, and services and expand into new markets,
the potential for improper conduct by our employees, agents or
business partners, contingent liabilities relating to acquisitions
and divestitures, impact of changes to tax laws, our compliance
with applicable laws and regulations and changes in applicable laws
and regulations, risks relating to international economic,
geopolitical, including war and sanctions, legal, compliance and
business factors, risks relating to potential impairment of
goodwill and other intangible assets, currency exchange rates, tax
audits and changes in our tax rate and income tax liabilities, the
impact of our debt obligations, including our cost of debt, on our
operations, litigation and other contingent liabilities including
intellectual property and environmental, health and safety matters,
our ability to adequately protect our intellectual property rights,
risks relating to product, service or software defects, product
liability and recalls, risks relating to product manufacturing, our
relationships with and the performance of our channel partners,
commodity costs and surcharges, adverse effects of restructuring
activities, risk related to tax treatment of the separation of
Vontier, impact of our indemnification obligation to Vontier,
impact of changes to U.S. GAAP, labor matters, and disruptions
relating to man-made and natural disasters and climate change.
Additional information regarding the factors that may cause actual
results to differ materially from these forward-looking statements
is available in our SEC filings, including our Annual Report on
Form 10-K for the year ended December 31, 2023. These
forward-looking statements speak only as of the date of this
release, and Fortive does not assume any obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events and developments or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240508140007/en/
Elena Rosman Vice President, Investor Relations Fortive
Corporation 6920 Seaway Boulevard Everett, WA 98203 Telephone:
(425) 446-5000
Fortive (NYSE:FTV)
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