For the third straight year Electrolux Group (Nasdaq:ELUX) has been named to the Sustainable Business SB20 listing of the world’s top 20 sustainable stocks published by The Progressive Investor newsletter. The SB20 is chosen by an expert panel based on financial strength combined with an analysis of environmental and social performance indicators.
“This selection shows that we’re on the right track by focusing on social and environmental affairs as elements of corporate governance,” says Asa Stenqvist, Electrolux VP Investor Relations. “Smart investors know that effective sustainability efforts translate directly into reduced risk and solid value.”
Accomplishments in environmental, safety and social responsibility by the Group’s North American businesses made important contributions to this achievement.
Notable contributions by North American operations:
— Major appliance factories in North America reduced overall regulated chemical emissions by 17% and refrigerant emissions by 20% in 2003, while production increased by 20%.
— Fifteen out of the sixteen Consumer Durables product factories are either a “Conditionally Exempt” or “Small Quantities” Generator of Hazardous Wastes.
— Consumer Outdoor Products Sector’s Poulan/Weed Eater division and its lawn and garden tractor factory produced zero hazardous waste under the Resource Conservation Recovery Act.
— Recycling hit an all time high.
— At the Orangeburg, SC lawn tractor factory, waste disposal cost has been reduced over $700,000.
— All sixteen of the Group’s Consumer Durables factories have achieved ISO 14001 Environmental Management System registration
— Emphasis on safety has paid off. In 2003, Electrolux Home Products North America achieved a 47% improvement in safety performance.
— Over 3 billion gallons of water can be saved annually by the front loading washers produced by the company in 2003.
— Web-based training was introduced for introduction of the Electrolux Business Conduct Policy and other corporate governance issues.
“Our facilities in North America are taking big strides in pursuing sustainability in our products and processes,” said Doug Mix, VP for Environmental and Regulatory Affairs for Electrolux North America.
Since the early 1990’s Electrolux has reported key environmental indicators annually, giving a public accounting of lifecycle impacts from raw material extraction through manufacturing, the product use phase and recycling or final disposal. The Group’s Sustainability Report is available at http://ir.electrolux.com/html/sustainabilityreport2003/
Electrolux is the world’s largest producer of powered appliances for kitchen, cleaning and outdoor use combined, such as refrigerators, washing machines, cookers, vacuum cleaners, chain saws, lawn mowers, and garden tractors. In 2003, Group sales were about $17 billion and the Group had 77,000 employees. Every year, customers in more than 150 countries buy more than 55 million Electrolux Group products for both consumer and professional use. The Electrolux Group includes famous appliance brands such as Frigidaire, Eureka, and Husqvarna.
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