ATLANTA, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Essex Furukawa Magnet Wire today released its second annual Sustainability Report in association with Vision 2030: A Sustainable Future, Our Driving Force. The 29-page document highlights the increased reliance on Renewable Energy as well as the Carbon Reduction achievements for the company. It showcases progress toward being Zero Waste to Landfill across a global manufacturing footprint, and introduces future initiatives relating to Scope 3 emissions, supply chain data, as well as ESG projects.
Austin Robinson, Global Corporate Sustainability Manager for Essex Furukawa, believes that the findings were very encouraging. Robinson and her team compiled the data with the assistance of business leaders across the company as well as third-party verification partners.
"What we were able to accomplish only happens with significant buy-in," she said. "There were consequential changes put into place across the company and best practices continue to be shared and implemented.
"We also witnessed a noticeable increase in our social sustainability as more employees are becoming aware of the role that we all play in the future of our environment and local communities."
Essex Furukawa created its holistic sustainability program with three core values-Disruptive Innovation, Green Production, and Agile Digitization-each designed to be pillars on which the company can drive change and innovate the magnet wire industry while being mindful of the impact on the environment.
The report shares results from the last year and indicates how each impact Essex Furukawa and its progress towards its holistic Vision 2030 program. It is centered around goals for Zero Waste to Landfill, Energy Reduction, Renewable Energy, and Carbon Reduction as it relates to Green Production. The report also includes how Essex Furukawa is prioritizing Agile Digitization goals while partnering with its customers and their R&D leaders to advance Disruptive Innovation in the magnet wire industry.
Daniel Choi, CEO of Essex Furukawa, said that being a leader in Environmental, Social, and Governance requires the type of transparency offered in the report.
"The ESG space is constantly evolving, and we have a responsibility to our stakeholders to be nimble and accountable," he said. "From most all perspectives and metrics, we have been successful in doing that.
"We want to lead by example. We want to be setting the standard and not only following it."
About Essex Furukawa Magnet Wire
Essex Furukawa Magnet Wire LLC is the leading, global provider of magnet wire that is used by most major OEMs, Tier 1 suppliers, and industry leaders in the automotive, energy, industrial, and commercial & residential sectors. The Atlanta-based company is a global joint venture formed in 2020 between Essex Magnet Wire and Furukawa Electric Co., Ltd., both leaders in magnet wire product development, and custom solutions. The combined entity, relying on the strengths of both Essex Magnet Wire and Furukawa Electric, draws on more than two centuries of combined experience and knowledge to push forward innovation while also remaining focused on delivering manufacturing excellence and outstanding customer service. essexfurukawa.com
