In 2021, as we examined our position as a standalone, pure-play water management company, we recognized that as an inherently sustainable company, we had even stronger opportunities for success. We wanted to articulate new goals and an updated process to achieve our sustainably inspired vision.
Aligning with best practices
Our mission at Zurn Elkay Water Solutions aligns directly with UN Sustainable Development Goal (SDG) 6: to ensure availability and sustainable management of water and sanitation for all.
As part of our efforts in 2021, we established a new set of key performance indicators (KPIs) based on metrics from leading ESG frameworks such as the Global Reporting Initiative (GRI) and the Sustainable Accounting Standards Board’s (SASB’s) industry-specific metrics.
We also joined the United Nations Global Compact to reaffirm our commitment to universal principles on human rights, labor, anti-corruption and the environment.
Finally, we established a Task Force on Climate-Related Financial Disclosure (TCFD) scenario analysis, to determine our exposure to climate-related transition and physical risks. We will report those results in our 2022 CDP Climate Change response.
Setting targets for progress
We created ESG targets within each of our five sustainability pillars, using 2021 figures as the baseline for continuing improvement. These include:
Achieve 40 billion gallons of water saved annually through the use of our products by 2024.
Reduce by 15% energy consumed per U.S. dollar of operating revenue by 2024.
Increase to 75% our percentage of revenue derived from products with sustainable attributes by 2024.
Achieve 50% reduction in Scope 1 and Scope 2 greenhouse gas emissions by 2030.
Report on Scope 3 emissions annually starting in 2023.
Establish and announce science-based targets for Scope 1, 2 and 3 emissions in 2023 that support a decarbonization roadmap.
Health & Safety
Achieve a 0 recordable injury rate (TRIR) across all our facilities annually.
Achieve 80% response rate to our Total Associate Engagement survey by 2024, up from 73% in 2021.
Achieve above-industry-average Associate Inclusion Index results annually.
Communicate associate diversity metrics annually.
Give every associate 1% of company time to volunteer annually.
Contribute $5 million to philanthropy initiatives by 2024.
Governance & Ethics
Achieve 100% of associates trained on our Code of Business Conduct and Ethics by the end of 2022.
Achieve 30% female representation on our Board of Directors by 2024.
An EHS vision and playbook
Putting this vision into action requires accountability, so we also established several key policies and practices to guide our efforts. Our Environmental, Health & Safety (EHS) Vision and Playbook spells out standard environmental and safety procedures for our facilities and for the associates and contractors who work at Zurn Elkay Water Solutions.
It also includes a full compliance calendar to ensure we’re meeting all regulatory requirements, as well as regular reviews to ensure a closed-loop process. With this intentional approach, we will embed sustainability into every aspect of our business, aiming to deliver on our promise as a sustainably inspired company.
To learn more about how Zurn Elkay Water Solutions is leading the way on sustainability, view all of our Governance stories.