Franklin Electric Co., Inc. (NASDAQ: FELE) saw its shares move slightly forward at the open Thursday, after the company released its third annual Sustainability Report this month, once again providing transparency, insight and data related to the Company's performance toward Environmental, Social and Governance (ESG) initiatives and goals. The commitment to these initiatives and goals led the Company to be named to Newsweek's 2022 list of America's Most Responsible Companies.
The Fort Wayne, Indiana-based saidhis year's report includes several details related to product advancements, employee health and wellness programs, and manufacturing initiatives. For example, operational excellence and global process standardization helped the Company increase its usage of power from renewable energy sources by 10%.
The Company reported a significant investment in its global Goal Zero safety campaign, spending more than 24,000 hours training employees on health and safety best practices with the goal of zero work-related injuries.
"We published our first Sustainability Report in October 2020, and I am proud of the progress that we have made in offering transparency to our environmental impact," noted Franklin Electric CEO Gregg C. Sengstack.
"The results in our 2022 report speak to the combined efforts of our employees around the globe, whose work creates the products that allow for safe and reliable access to water, the filtration and treatment of water, the safe and effective movement of wastewater, and for environmentally safe and sustainable handling of liquid fuels."
FELE shares took on 31 cents to $94.25.
