Flowserve Shares 2022 ESG Strategy and Performance

Flowserve, a supplier of flow control solutions, has unveiled its 2022 Environmental, Social, and Governance (ESG) Report. The document details the firm's dedication to developing flow control solutions. A key theme in this year's report is examining clean energy technologies to mitigate climate change.

Following the successful implementation of its 3D strategy, which supported clients' ESG initiatives, Flowserve has restructured its ESG strategy around three central tenets: Climate, Culture, and Core Responsibility. Scott Rowe, President and CEO of Flowserve, expressed pride in the company's progression and balance between the dynamic demands of the energy sector, while remaining committed to customers, employees, and environmental betterment.

Flowserve's 2022 ESG report contains highlights of the company's achievements over the past year:

Climate

The company reached 80% of its 2030 target for carbon emission reduction and recorded nearly $140 million in energy transition bookings. The firm also entered strategic partnerships to advance technologies such as hydrogen fueling, LNG, carbon capture, utilization, and storage, and other sustainable fuels.

Culture

Over 2,000 leaders participated in the Leadership in Motion program, strengthening their skills and understanding of their roles in creating value for employees and customers. The company also invested more than $500,000 in community projects through its Flowserve Cares program, demonstrating its commitment to local communities worldwide.

Core Responsibility

Flowserve achieved a record in safety performance, marking its first month with no recordable injuries across any of its sites in June. Furthermore, the company introduced over 20 new or reengineered products that align with the company's 3D strategy, bolstering ESG initiatives and supporting customer sustainability efforts.

Flowserve’s portfolio includes engineered and industrial pumps, seals, valves, and a range of related flow management services.