Flowserve Releases 2020 Environmental, Social and Governance (ESG) Report Highlighting Progress on ESG Initiatives

Posted 28 minutes ago

Issued by Flowserve

Summary

Flowserve’s 2020 ESG Report, formerly known as the Flowserve Sustainability Report, details the progress of the company’s ESG performance and underlines Flowserve’s commitment to supporting its customers throughout the energy transition of the future. .

Highlights of the report

Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for global infrastructure markets, announced the release of its 2020 Environment, Society and Governance (ESG) report .

This report, formerly known as the Flowserve Sustainability Report, details the progress of our ESG performance, our approach to building a more sustainable future and how we enable our clients to achieve their sustainability goals.

“While 2020 has presented many challenges for people and businesses around the world, it has also heightened our focus on sustainability and the importance of achieving our goal every day,” said Scott Rowe, President and CEO of The direction. “As we look to the future, we are committed to reducing our own environmental footprint and supporting our customers with our innovative solutions as they continue their journey of energy transformation, helping to make the world a better place today. and for generations to come, ”he added.

The ESG 2020 report underlines Flowserve’s commitment to supporting its customers throughout the energy transition of the future through our increased investments in innovation and product development. Other 2020 achievements highlighted in the ESG report include:

  • Record-breaking security performance, including in our COVID-19 protocols
  • Significant progress in reducing our emissions and staying on track to meet our carbon reduction target by 2030
  • Sustainability driven product development process, which has helped design and improve a number of products
  • Ongoing commitment to strengthen our culture through our diversity, equity and inclusion program

In addition, throughout the past year, we have taken steps to improve our sustainability and ESG reports. “In our ESG 2020 report, we have made significant progress in including more details on important ESG areas while maintaining alignment with the criteria of the Sustainability Accounting Standards Board (SASB) and the objectives set out in the Paris Agreement. on climate, ”said Lanesha Minnix, General Counsel. and corporate secretary.

For more information on Flowserve’s ESG and sustainability progress, or to access Flowserve’s 2020 ESG report or the 2020 ESG report summary, visit our Sustainability page on Flowserve.com.

Flowserve Contacts

About Flowserve

Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Present in more than 50 countries, the company produces engineering and industrial pumps, seals and valves, as well as a range of related flow management services. Further information on Flowserve can be obtained by visiting the company’s website at www.flowserve.com.

Safe Harbor Declaration: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act. of 1995, as amended. Words or expressions such as “may”, “should”, “expects”, “could”, “intends”, “plans”, “anticipates”, “estimates”, “believes”, “foresees”, “Predicted” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, profit forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments regarding our industry, business, operations, financial performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. These forward-looking statements are subject to many risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is expected in these forward-looking statements, and include, without limitation, the following: the impact of the global COVID-19 epidemic on our activities and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenue with acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported order backlog; our dependence on the ability of our customers to make required capital and maintenance expenditures; if we are unable to successfully execute and realize the financial benefits expected from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and customer order intake for large, complex custom engineering products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the unfavorable impact of raw material price volatility on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes in tariffs or trade agreements that could affect customer markets, in particular markets of ‘North Africa, Russia and the Middle East and global oil and gas producers, and failure to comply with US export / re-export controls, foreign laws on corrupt practices, economic sanctions and laws and import regulations; increased aging and slower debt collection, particularly in Latin America and other emerging markets; our exposure to exchange rate fluctuations, including in hyperinflationary countries such as Venezuela and Argentina; our provision of products and services to nuclear power plant facilities and other critical processes; the potential negative consequences resulting from a dispute to which we are a party, such as a dispute involving claims for materials containing asbestos; expectations regarding acquisitions and the integration of acquired businesses; our relative geographic profitability and its impact on our use of deferred tax assets, including foreign tax credits; the potential negative impact of an impairment of the carrying amount of goodwill or other intangible assets; our dependence on third party suppliers whose failure to meet deadlines could adversely affect our business operations; the highly competitive nature of the markets in which we operate; the costs and responsibilities of environmental compliance; potential work stoppages and other work-related issues; access to public and private sources of debt financing; our inability to protect our intellectual property in the United States, as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect inaccuracies due to its inherent limitations, including the possibility of human error, bypassing or bypassing controls or fraud; the recording of an increase in provisions for valuation of deferred tax assets in the future or the impact of changes in tax legislation on these deferred tax assets could affect our operating results; our IT infrastructure could be subject to downtime, data corruption, cyber attacks or breaches of network security, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could affect the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this press release are based on information available to us as of the date hereof, and we assume no obligation to update any forward-looking statements.

The Company presents its financial results in accordance with generally accepted accounting principles (GAAP) in the United States. However, management believes that non-GAAP financial measures that exclude certain non-recurring items present useful additional comparisons between current results and results of previous operating periods, giving investors a clearer view of the underlying trends. of the company. Management also uses these non-GAAP financial measures to make financial, operational, planning and compensation decisions and to assess the performance of the Company. Throughout our documents, we refer to non-GAAP measures as “adjusted”. Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed as a supplement and not a substitute for the reported results of the company prepared in accordance with GAAP. .

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210930005169/en/

Investor contacts:
Jay Roueche, Vice President, Investor Relations and Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636

Media contact:
Lars Rosene, Vice-President, Corporate Communications and Public Affairs, (972) 443-6644

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