Gates Industrial plc Releases 2024 Sustainability Report Highlighting Commitment to Innovation and Responsibility
- Gates Industrial plc's 2024 Sustainability Report emphasizes sustainability as central to its operational strategy and innovation.
- The company achieved 100% rubber waste diversion and received 132 new patents, highlighting its commitment to Eco-Innovation™.
- Gates increased renewable energy usage by 6% and employee engagement in development programs by 160%, enhancing its sustainability efforts.
Gates Industrial Unveils 2024 Sustainability Report: A Commitment to Innovation and Responsibility
Gates Industrial plc, a prominent global manufacturer of power transmission and fluid power solutions, releases its 2024 Sustainability Report, underscoring sustainability as a cornerstone of its operational strategy. The report delineates the company's strategic investments across four critical pillars: Governance, Technology, Environment, and Stewardship. By prioritizing these areas, Gates aims to enhance stakeholder trust while driving innovation that aligns with its long-term goals. The comprehensive approach reflects the company's understanding that a commitment to sustainability is essential not just for regulatory compliance but also for fostering a resilient and innovative business model.
In the Governance pillar, Gates emphasizes improvements in data security and supplier onboarding processes, aiming to promote responsible practices throughout its supply chain. This initiative is particularly vital in today's corporate landscape, where transparency and ethical conduct are increasingly scrutinized. The report also highlights Gates' dedication to Eco-Innovation™, marked by its success in diverting 100% of rubber waste from landfills across 21 facilities and remanufacturing 32% of rubber scrap. The achievement is bolstered by 132 new patents awarded in 2024, showcasing the company's ongoing commitment to developing sustainable solutions that minimize environmental impact.
Environmental initiatives feature prominently in Gates’ report, with the company reporting a 6% increase in renewable energy usage stemming from investments in onsite solar energy and renewable energy credits. These efforts further illustrate Gates' commitment to reducing its carbon footprint and contributing to global sustainability goals. Additionally, the Stewardship section reveals a significant 160% increase in employee engagement in development programs compared to 2023, highlighting Gates' focus on fostering a skilled workforce that is aligned with its sustainability objectives. CEO Ivo Jurek emphasizes that such initiatives reflect a disciplined execution of the company's sustainability strategy, which is integral to creating long-term value.
Gates Industrial’s forward-thinking approach to sustainability not only enhances its operational resilience but also positions the company as a leader in the power transmission and fluid power sectors. The 2024 Sustainability Report adheres to established reporting standards set by notable organizations, including the IFRS Foundation and the UN Sustainable Development Goals, ensuring transparency and accountability in its sustainability efforts. The full report is accessible for review and download at gates.com/sustainability.
As the industry faces mounting pressure to adopt sustainable practices, Gates’ commitment to innovation and responsibility sets a precedent for others to follow. The company’s strategic initiatives not only address environmental concerns but also emphasize the role of corporate responsibility in shaping a sustainable future. This comprehensive focus on sustainability reflects Gates' understanding that its success is intertwined with the well-being of its community and the planet.
