Arconic Publishes 2021 ESG Report
May 31, 2022
PITTSBURGH--(BUSINESS WIRE)-- Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) has published its 2021 Environmental, Social and Governance (ESG) Report. The report, which can be downloaded from the ESG page of the company’s website, underscores the Company’s commitment to protect the environment, champion diversity, equity and inclusion, and conduct business ethically and transparently as part of its core values.
“Over the last year, we made significant progress on our journey to advance global sustainability throughout the aluminum value chain,” said Chief Executive Officer Tim Myers. “In 2021, we completed our first Materiality Assessment to identify our priority ESG topics through active dialogue with a diverse group of key stakeholders. This feedback is being incorporated into our action plans to minimize our carbon footprint, ensure a resilient supply chain, drive product sustainability, and continue to foster a culture that advocates for diversity, equity and inclusion.”
Arconic reports annual sustainability information and data in alignment with reporting frameworks including CDP, the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) Metals and Mining Standard and the UN Global Compact (UNGC).
Highlights of the Company’s ESG achievements in 2021 include:
- Total Recordable Incident Rate decreased by 7% compared to 2020
- Days Away, Restricted and Transfer Rate decreased by 24% compared to 2020
- Scope 1 greenhouse gas emissions intensity decreased by 5.5% compared to 2020
- Scope 2 greenhouse gas emissions intensity decreased by 21.5% compared to 2020
Diversity, Equity and Inclusion
- 40% of our global executives are female
- 21.9% of our U.S. employees and 30% of our U.S. executives are ethnically diverse
- $8.2 million granted to 132 nonprofit and community organizations in eight countries by Arconic Foundation in 2021
- Perfect score of 100 in the Human Rights Campaign Foundation’s Corporate Equality Index
- More than 4,300 actions recorded by Arconic employees in support of inclusion, diversity, and social equity
About Arconic Corporation
Arconic Corporation (NYSE: ARNC), headquartered in Pittsburgh, Pennsylvania, is a leading provider of aluminum sheet, plate, and extrusions, as well as innovative architectural products, that advance the ground transportation, aerospace, building and construction, industrial and packaging end markets. For more information: www.arconic.com.
This release contains statements that relate to future events and expectations and, as such, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "guidance," "intends," "may," "outlook," "plans," "projects," "seeks," "sees," "should," "targets," "will," "would," or other words of similar meaning. All statements that reflect Arconic’s expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements, relating to the condition of, or trends or developments in, the ground transportation, aerospace, building and construction, industrial, packaging and other end markets; Arconic’s future financial results, operating performance, working capital, cash flows, liquidity and financial position; cost savings and restructuring programs; Arconic's strategies, outlook, business and financial prospects; share repurchases; costs associated with pension and other post-retirement benefit plans; projected sources of cash flow; and potential legal liability. These statements reflect beliefs and assumptions that are based on Arconic’s perception of historical trends, current conditions and expected future developments, as well as other factors Arconic believes are appropriate in the circumstances. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and changes in circumstances, many of which are beyond Arconic’s control. Such risks and uncertainties include, but are not limited to: (a) continuing uncertainty regarding the duration and impact of the COVID-19 pandemic on our business and the businesses of our customers and suppliers including labor shortages and increased quarantine rates; (b) deterioration in global economic and financial market conditions generally; (c) unfavorable changes in the end markets we serve; (d) the inability to achieve the level of revenue growth, cash generation, cost savings, benefits of our management of legacy liabilities, improvement in profitability and margins, fiscal discipline, or strengthening of competitiveness and operations anticipated or targeted; (e) adverse changes in discount rates or investment returns on pension assets; (f) competition from new product offerings, disruptive technologies, industry consolidation or other developments; (g) the loss of significant customers or adverse changes in customers’ business or financial condition; (h) manufacturing difficulties or other issues that impact product performance, quality or safety; (i) the impact of pricing volatility in raw materials and inflationary pressures on our costs of production; (j) a significant downturn in the business or financial condition of a key supplier or other supply chain disruptions; (k) challenges to or infringements on our intellectual property rights; (l) the inability to successfully implement our re-entry into the U.S. packaging market or to realize the expected benefits of other strategic initiatives or projects; (m) the inability to identify or successfully respond to changing trends in our end markets; (n) the impact of potential cyber attacks and information technology or data security breaches; (o) geopolitical, economic, and regulatory risks relating to our global operations, including compliance with U.S. and foreign trade and tax laws, sanctions, embargoes and other regulations; (p) the outcome of contingencies, including legal proceedings, government or regulatory investigations, and environmental remediation and compliance matters; (q) restrictions imposed by authorities on the operation of our Samara, Russia facility; (r) the impact of the conflict between Russia and Ukraine on economic conditions in general and on our business and operations; and (s) the other risk factors summarized in Arconic’s Form 10-K for the year ended December 31, 2021 and other reports filed with the U.S. Securities and Exchange Commission (SEC). The above list of factors is not exhaustive or necessarily in order of importance. Market projections are subject to the risks discussed above and in this release, and other risks in the market. The statements in this release are made as of the date of this release, even if subsequently made available by Arconic on its website or otherwise. Arconic disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.
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