Flex Releases its 2024 Sustainability Report

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Sep 12, 2024, 09:05 ET

AUSTIN, Texas, Sept. 12, 2024 /PRNewswire/ -- Flex (NASDAQ: FLEX) today published its 2024 sustainability report, highlighting the company's global sustainability performance and progress from calendar year 2023. Flex's 2030 sustainability strategy, goals and initiatives focus on minimizing the company's environmental impact, creating a safe, inclusive, and respectful work environment, investing in communities, driving ethical practices with transparency, and accelerating a more sustainable value chain in partnership with customers and suppliers.

View Flex's 2024 sustainability report prepared in accordance with the Global Reporting Initiative (GRI) Standards: https://flex.com/downloads/2024-sustainability-report

"Taking meaningful steps forward on our sustainability journey and toward our goals is made possible through the contributions of our talented, passionate global workforce and valued partnerships with our customers and suppliers," said Kyra Whitten, Senior Vice President, Corporate Marketing, Communications, and Sustainability at Flex. "As an advanced, end-to-end global manufacturer, we remain committed to embedding sustainability into our practices as we design, source, build, deliver and manage our customers' products."

2023 sustainability accomplishments

33 percent decrease in absolute scope 1 and 2 greenhouse gas emissions (GHG) from our 2019 baseline¹
25 percent of electricity usage powered by renewable energy²
100 percent of major sites³ continued to partner with a local non-governmental organization
20 percent reduction in safety incident rate year-over-year
51 percent of preferred suppliers and 80 percent of specified customers⁴ had greenhouse gas emissions reduction and science-based targets, respectively

Flex was also recognized for its sustainability leadership and performance, receiving a 2023 Manufacturer of the Year Award from the Manufacturing Leadership Council and National Association of Manufacturers for best-in-class achievement and transformational leadership to drive a new era of advanced, sustainable manufacturing, Ethisphere's World's Most Ethical Company® recognition for the second year in a row, and a FT-Nikkei Statista Asia-Pacific Climate Leader recognition, among others. Additionally, the company maintained an A- CDP score for Climate Change and an AA rating from Morgan Stanley Capital International (MSCI), acknowledging global industry leadership in managing financially relevant sustainability risks and opportunities.

About Flex

Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

Contacts
Investors & Analysts
David Rubin
Vice President, Investor Relations
(408) 577-4632
[email protected]

Media & Press
Jessica Anderson
Director, Corporate Integrated Marketing & Communications
(408) 577-4789
[email protected]

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws. All statements in this press release other than statements of historical or current facts, including statements regarding our future business expectations and our environmental and other sustainability plans and goals and related timeframes, are forward-looking. Because these forward-looking statements are subject to risks and uncertainties, actual results could differ materially from the expectations expressed in the forward-looking statements. Important factors that could cause actual results to differ materially from the expectations reflected in the forward-looking statements include those described in Item 1A, "Risk Factors" and Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024, and in our subsequent filings with the U.S. Securities and Exchange Commission. In addition, new risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risk factors on our business. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. We undertake no obligation to update any forward-looking statements, which speak only as of the date they are made.

¹ The target boundary includes biogenic emissions and removals from bioenergy feedstocks.
² Percent of renewable energy is considering purchased and on-site generation divided by the total of electricity used for tracking sites.
³ Sites with more than 1,000 employees.
⁴ Flex committed that 70% of customers as measured by emissions covering purchased goods and services, capital goods, and use of sold products will have science-based targets by 2025.

SOURCE Flex