Fastenal Releases 2024 Environmental, Social, and Governance (ESG) Report
A consistent theme of the report is how Fastenal's 23,000-plus employees are using their talents and creativity to advance the company's ESG vision: empowering people, preserving our world, and serving as a trusted partner. Their efforts, combined with an organizational commitment to continuously improve processes, systems, and reporting, helped Fastenal solidify and make progress toward its long-term ESG goals in 2023.
Some highlights from the report:
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Received a silver medal from
EcoVadis , indicating that the quality of Fastenal's sustainability management system ranked in the top 25% of all companies in all industries rated byEcoVadis in 2023.
- Completed a scope 3 materiality assessment, an important step to further broaden the company's carbon inventory and establish baselines for science-based targets.
- Launched a large-scale plastic recycling program with Trex Company, Inc., which uses the material to manufacture composite outdoor decking products. The teams in Fastenal's North American distribution centers and in-market locations are on pace to divert more than 600,000 pounds of plastic waste in the first year of the program.
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Continued to achieve excellent workplace safety results, including a superior Experience Modification Rate (EMR). EMR is a widely accepted measure of an organization's health and safety risk determined by the
National Council on Compensation Insurance based on a company's expected workplace injuries versus other organizations with similar characteristics. In 2023, Fastenal's EMR was 51% better than the average performance rate for its industry group.
"The 'Blue Team' is providing great service and creating tremendous value for our customers, and they're doing it in a very responsible and sustainable way," said Fastenal President and CEO
VIEW THE REPORT HERE: www.fastenal.com/fast/esg
About Fastenal
Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through more than 3,400 in-market locations (branches and customer-specific
Additional information regarding Fastenal is available on the
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements, which are subject to risks and uncertainties. Fastenal's sustainability goals, targets, pace, and expectations are long-term and inspirational and by their nature, include forward-looking statements. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those described in Fastenal's annual ESG Reports and filings with the
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