Commits to 30% reduction in greenhouse gas emissions by 2030

(BUSINESS WIRE)--ESAB Corporation (“ESAB” or “the Company”) (NYSE: ESAB), has published its inaugural sustainability report, establishing benchmarks to evaluate progress on environmental, social, and governance (ESG) goals and committing to reduce absolute greenhouse gas (GHG) emissions 30% by 2030.

The inaugural sustainability report represents a continuation of ESAB’s commitment to environmental stewardship; enhancing diversity, equity, and inclusion among its associates; outreach within its local communities; and maintaining best-in-class corporate governance. It includes the Company’s commitment and approach to continuously improving workplace health and safety for the approximately 9,000 ESAB associates around the world.

“We are proud of our approach to advancing our sustainability program, which underscores our purpose of Shaping the world we imagine,” said Shyam P. Kambeyanda, President and CEO, ESAB Corporation. “We have a responsibility to be good corporate citizens who have a positive impact on the environment, and we are determined to build a positive and enduring legacy in the communities where we live and work. Our first sustainability report lays a foundation that supports the long-term growth of our enterprise and aligns with our core values and commitment to shaping a better world.”

Key highlights from ESAB’s inaugural sustainability report include:

• A commitment to reduce absolute global Scope 1 and Scope 2 GHG emissions at major manufacturing sites by 30% by the year 2030 from a 2022 baseline.
• Information about the Company’s industry-leading safety record, including its 2022 total recordable incident rate of 0.49.
• Details of new products designed to meet standards outlined in the European Ecodesign for Sustainable Products Regulation.
• Findings from energy management workshops, which identified significant opportunities for increased energy efficiency.
• A summary of diversity, equity, and inclusion efforts, including a leadership team today comprised of more than 67% women or racially/ethnically diverse individuals.

More information about ESAB’s sustainability journey can be found at www.ESABcorporation.com/sustainability, where the Company’s 2022 sustainability report is available for download.

About ESAB Corporation

Founded in 1904, ESAB Corporation (NYSE: ESAB) is a world leader in connected fabrication technology and gas control solutions. Our rich history of innovative products and workflow solutions and our business system (EBX) allow us to realize our purpose of shaping the world we imagine. ESAB Corporation is based in North Bethesda, Maryland and employs approximately 9,000 associates and serves customers in approximately 150 countries. To learn more, visit www.ESABcorporation.com.

Forward-Looking Statements

This press release contains certain forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements that are not historical facts, including statements regarding our ESG targets, goals, commitments, and programs, and other business plans, initiatives, and objectives. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or the negative thereof or variations thereon, or similar terminology generally intended to identify forward-looking statements. Our actual future results, including the achievement of our targets, goals, or commitments, could differ materially from our projected results as the result of changes in circumstances, assumptions not being realized, or other risks, uncertainties, and factors, many of which are outside of the Company’s control. Such risks, uncertainties, and factors include the risk factors discussed in Item 1A of our most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. We urge you to consider all the risks, uncertainties, and factors identified above or discussed in such reports carefully in evaluating the forward-looking statements in this press release.

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Contacts

Media:
Tilea Coleman
Vice President, Corporate Communications
E-mail: mediarelations@esab.com
Phone: 1-301-323-9092

Investor Relations:
Mark Barbalato
Vice President, Investor Relations
E-mail: investorrelations@esab.com
Phone: 1-301-323-9098