Gates releases 2021 Corporate Sustainability Report; highlights include 9% energy reduction, 17% cut in greenhouse gas emissions, 17% cut in water use, 11% total waste reduction, 37% of waste diverted from landfills, 44% of directors are now women

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DENVER, Colorado , June 13, 2022 (press release) –

DENVER, June 1, 2022 /PRNewswire/ -- Gates (NYSE: GTES), a leading global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today released its 2021 Sustainability Report detailing continued significant commitment and progress toward goals established through the company's sustainability framework. Encompassing four key pillars – Governance, Technology, the Environment, and Stewardship (GTES) – the framework was developed to codify the company's focus on sustainability.

Gates Industrial Corporation

Already aligned with the United Nations Sustainable Development Goals (UN SDGs) and grounded in the company's core values, Gates' sustainability efforts advanced during 2021, making significant progress against metrics in all four areas of the GTES framework focus.  Gates now also reports in accordance with Global Reporting Initiative (GRI) Standards, the world's most widely used standards for sustainability reporting, creating even more transparency into the progress the company is making.

At the core of Gates' environmental sustainability efforts is the Eco-Innovation™ process which reflects the company's focus on delivering products that feature greater efficiency, safety and a smaller environmental footprint throughout their full life cycle.  Eco-Innovation relies on the combination of materials science advancements, product design optimization and process engineering improvements to deliver products that require less material to meet demanding customer requirements, and which are made using manufacturing processes that generate less waste and require less energy, water and Green House Gas emissions.  

"I am delighted to report yet another strong year of progress towards our sustainability goals thanks to all of our employees worldwide whose continued commitment, collaboration and integrity is driving these results" said Ivo Jurek, chief executive officer of Gates. "Our focus on innovating eco-conscious products while adding transparency around sustainability performance reporting further support our commitment to all of our stakeholders – customers, employees, communities and shareholders" he added.

Highlights from Gates' 2021 Sustainability Report include significant reductions in energy use, Green House Gas emissions, water consumption and waste, as well as new supply chain transparency. For more details, please see the full Gates 2021 Sustainability Report, available to view or download at investors.gates.com under the Sustainability tab.

About Gates Industrial Corporation plc
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 manufacturers as specified components. For more than a century, Gates has pushed the boundaries of materials science to engineer products that exceed expectations in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets including industrial on-highway, industrial off-highway, mobility and recreation, automotive, energy and resources as well as diversified industrial. Our products are sold in more than 30 countries across our four commercial regions: the Americas; Europe, Middle East & Africa; Greater China; and East Asia & India. More about Gates can be found at www.gates.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are related to and based on management's current expectations regarding the performance of the Company's business and its plans, objectives, and intentions. Such forward-looking statements are subject to various risks and uncertainties that could cause the Company's results to differ materially from those described in the forward-looking statements. Certain of these risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the fiscal year ended January 2, 2021, filed with the Securities and Exchange Commission ("SEC").  These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement should circumstances change, except as required by law.

 

SOURCE Gates

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