Gates Publishes Second Annual Corporate Sustainability Report Outlining Responsible Global Corporate Citizenship
DENVER, Oct. 29, 2020 /PRNewswire/ -- Gates (NYSE: GTES), a leading global provider of application-specific fluid power and power transmission solutions, today announced the release of its latest Corporate Sustainability Report for 2019, detailing the company's ongoing efforts in the areas of sustainability, corporate governance, product innovation, health and safety, community stewardship and diversity and inclusion.
"Adhering to our corporate values has led Gates through more than a century in business, enabling us to expand and thrive in good times and persevere through turbulent periods," said Ivo Jurek, Chief Executive Officer. "Today, with more than 100 Gates facilities operating in 30 countries around the world, we take very seriously our responsibility as a global corporate citizen and are proud of the progress we've made."
Grounded by Gates' five core values – accountability, collaboration, tenacity, curiosity and dedication – the 2019 Corporate Sustainability Report covers the company's alignment with the United Nations Sustainable Development Goals and describes a holistic methodology to minimize environmental impact. Gates' global team takes an integrated end-to-end approach to sustainability by combining innovative materials science, product design and process engineering to create inherently more sustainable products. In its operations, Gates also focuses on water and energy conservation, greenhouse gas emissions and waste minimization, as well as recycling.
The report documents measurable progress across all of these areas of sustainability, as well as in a number of other important areas. Employee health and safety is a top priority and Gates has achieved a 40 percent reduction in recordable injuries over the last five years. Community engagement is also a key focus area which includes programs like the annual BuildORama bicycle-build event at Gates' Denver headquarters during which employees build and donate bikes to underprivileged children.
Additionally, the report provides an accounting of charitable efforts through the Gates Industrial Corporation Foundation and donations to more than 150 unique non-profit organizations, and the tangible progress made in ongoing efforts to support diversity and inclusion in the workforce. Since early 2020, Gates has 38 percent female representation on its global board of directors.
The full Gates 2019 Corporate Sustainability Report is available to view or download at investors.gates.com/Sustainability/Sustainability-Report.
About Gates
Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers and to original equipment ("first-fit") manufacturers as specified components. Gates participates in many sectors of the industrial and consumer markets. Gates products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners, and virtually every form of transportation. Gates products are sold in 128 countries across four commercial regions: the Americas; Europe, Middle East and Africa; Greater China; and East Asia and India. More about Gates can be found at www.gates.com.
Forward-Looking Statements
This press release contains forward-looking statements. All forward-looking statements involve risks and uncertainties which could affect our actual results and could cause its actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Important factors could affect our results and could cause results to differ materially from those expressed in our forward-looking statements, including but not limited to the factors discussed in the section entitled "Risk Factors" in Gates' Annual Report on Form 10-K for the fiscal year ended December 30, 2017, as filed with the Securities and Exchange Commission.
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