Parker(PH) Newsfilter·2025-02-25 13:30Core Insights - Parker Hannifin Corporation has released its fiscal year 2024 Sustainability Report, emphasizing its leadership in advancing clean technologies and reducing environmental impacts [1][3] - The report highlights Parker's interconnected technologies that align with six key market verticals, driven by electrification and emerging trends, aiding customers in achieving carbon reduction targets [2] Sustainability Achievements - The report details key achievements, including a 23% reduction in Scope 1 and Scope 2 emissions from FY19 to FY23, attributed to over 300 projects aimed at reducing energy footprint [5] - Parker aims to reduce absolute indirect emissions (Scope 3) by 15% by 2030 and 25% by 2040, collaborating with suppliers and implementing new technologies for supply chain efficiencies [5] - The company has achieved a 45% reduction in recordable incident rates over the past five years, with 73% of sites reporting no incidents in FY24, positioning Parker in the top quartile of safety performance in its sector [5] Community Engagement - In FY24, Parker and the Parker Foundation contributed over $11 million in charitable donations and team members performed approximately 15,000 hours of community service, reinforcing the company's commitment to social responsibility [5]