nVent Electric plc (NYSE: NVT), a global leader in electrical connection and protection solutions, today issued its first social responsibility report.
Publication of the report reflects the continued development of nVent’s enterprise-wide social responsibility strategy and progress made during 2019.
“Our first social responsibility report is a meaningful step in our commitment to driving progress around the world on issues important to our employees, customers and shareholders,” said Chief Executive Officer Beth Wozniak. “The report reflects our three social responsibility focus areas: our employees and the culture we’re building together; our products and solutions that connect and protect our customers; and how we care for the environment and support our communities.”
The digital report details nVent’s mission in helping to ensure critical systems operate safely and reliably in a world that is increasingly electrified and connected. Highlights of the 2019 report include:
- Established inclusion and diversity as a priority for the company
- 67 percent of the company’s current Board of Directors represents diverse groups
- 45 percent of executive management comprised of women
- Launched three vibrant Employee Resource Groups (ERGs)
- As part of nVent In Action, more than 4,100 hours volunteered by employees from 14 countries
- nVent Foundation awarded $250,000 in grants supporting STEM-focused youth education programs
- An enterprise-wide total of 97 percent of waste diverted from landfills
“We are all members of one global community. Reflecting on the current environment, we are committed to taking actions in both our ongoing response to the Covid-19 pandemic and our stance against racism and social injustice, to emerge stronger, better, together,” added Wozniak.
nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world’s most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER.
nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “forecasts,” “should,” “would,” “positioned,” “strategy,” “future,” or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All projections in this press release are also forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the adverse effects on our business operations or financial results, including due to the impact of the COVID-19 pandemic; overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions; competition and pricing pressures in the markets we serve, including the impacts of tariffs; the strength of housing and related markets; volatility in currency exchange rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; increased risks associated with operating foreign businesses; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K. All forward-looking statements speak only as of the date of this press release. nVent assumes no obligation, and disclaims any obligation, to update the information contained in this press release.