Fastenal Publishes its First Environmental, Social, and Governance (ESG) Report

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by KnowESG,

Fastenal Company

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Fastenal Company has released its inaugural ESG Report. The report on Fastenal's progress in various environmental, social, and governance areas during 2021 is a big step forward in the company's ESG journey.

The Global Reporting Initiative (GRI) standards were used to make the report. It follows the ESG disclosure and reporting frameworks set up by the Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-Related Financial Disclosures (TCFD).

Following are some of the highlights of the report:

  • Continued improvement to Fastenal’s workplace safety ratings, the TRIR (Total Recordable Incident Rate) and EMR (Experience Modifier Rate), which are significantly better than the industry average and contributed to Fastenal being named one of America’s Safest Companies by EHS Today.

  • Changes to the way Fastenal is built and how it uses fuel in its own transportation fleet have set the stage for lower relative emissions and less use of resources in the future.

  • Investment in additional resources and new roles focused on coordinating and bringing visibility to ESG-related activities throughout the organisation.

The company's sustainability solutions, a set of services to help customers speed up their own ESG programmes, are a unique part of the report and Fastenal's ESG programme as a whole. As a partner in the supply chain for thousands of businesses worldwide, Fastenal wants to make a difference going beyond its own operations.

“Our culture centres on a core belief in people, and our strategy centres on reducing resource consumption in our customers’ supply chains—principles we believe create a natural alignment of our growth goals and the ESG priorities of our stakeholders,” said Dan Florness, president and CEO of Fastenal. “The Fastenal ‘Blue Team’ is working hard to be a force for positive change—in our business, for our customers, and across global supply chains—and we’re proud to share their story in this inaugural report.”

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Source: BUSINESS WIRE

Click here to download the full ESG report

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