Parker Hannifin releases fiscal year 2023 sustainability report

Recently, Parker Hannifin, a pioneer in motion and control technology, released the "2023 Sustainability Report". The report focuses on the theme of "Leading with Purpose" and focuses on the company's efforts to protect the environment, promote clean technology, and create a safe industry. Achievements in the workplace and strengthening communities.

The report also showcases Parker's broad range of products and systems designed to help customers in the industrial, mobile and aerospace markets reduce their dependence on natural resources, increase efficiency and reduce carbon emissions. Nearly two-thirds of Parker's global technology portfolio supports electrification and lightweighting, cleaner and more efficient energy sources such as batteries, fuel cells and hydrogen, as well as other innovations that have a positive impact on the environment .

Jenny Parmentier, CEO of Parker Hannifin, said : "Our actions illustrate Parker Hannifin's tradition of corporate responsibility and sustainability-centered operating philosophy. We will continue to help customers innovate and help them fulfill their environmental commitments. We are making progress every day. Parker’s people around the world are working hard every day to make our world cleaner, smarter and safer, and I am proud to share the progress we are making on their behalf in our sustainability report.”

Key achievements described in the FY2023 Sustainability Report include:

• Keeping Team Members Safe: With a shared commitment to putting safety first at all Parker workplaces, we have achieved a 45% reduction in recordable safety incidents and a 33% reduction in lost time incident rates over the past five years. Overall, Parker's safety performance ranks in the top 25% of diversified industrial manufacturers.

  
  

• Reduce carbon impact: To reduce its impact on the environment, Parker completed a number of plant carbon emission reduction projects this fiscal year, including solar panel installation, lighting renovations, HVAC system upgrades, etc. These initiatives will help Parker achieve its goal of reducing its operational carbon footprint by 50% by 2030 and becoming carbon neutral by 2040.

  
  

• R&D Clean Technologies: More than 40% of Parker's R&D efforts in fiscal 2023 were related to expanding its interconnected clean technologies portfolio, with a focus on electrification and emerging alternative fuels such as hydrogen and sustainable aviation fuels.

  
  

• Making a positive impact in communities: Parker and the Parker Foundation have donated more than $9 million to charities that help strengthen communities around the world, with the majority of donations related to the foundation’s focus on STEM education, community needs and sustainability. Focus areas remain consistent.