ITT 2023 Sustainability Report Announces Progress Towards Targets

ITT Inc. released its 2023 Sustainability Update, which details the company’s progress towards the emissions reduction and diversity, equity and inclusion targets it established in November 2022.

“Since publishing our last report, we’ve continued to build a safer, more inclusive and more energy-efficient workplace for all employees,” said Luca Savi, CEO and president of ITT. “Our safety metrics show that we keep on learning and being proactive in preventing incidents. We’ve also continued to innovate and develop green solutions to help solve our customers’ biggest sustainability challenges, including the deployment of our Bornemann twin-screw pumps on anti-flaring and carbon capture projects and the creation of Euro-7-compliant braking technology.” 

ITT’s sustainability targets include reducing Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 10% by the end of 2026 (against a 2021 baseline) and diversity, equity and inclusion goals that foster a more diverse and inclusive workplace. The company’s progress towards those targets in 2022 is highlighted by a 7% reduction in GHG emissions and a 10% increase in spending with diverse U.S. suppliers for the year.

Other highlights from the company’s 2022 sustainability progress include:

• 32% reduction in recordable safety incidents, leading to an improved Injury Frequency Rate (IFR) of 0.55 (based on OSHA calculation of number of recordable incidents per 1 million employee hours worked).
• Nearly 60% of sites globally had zero recordable safety incidents.
• 7% reduction in water consumption and more than 17% increase in recycled materials.

The company also previously announced a $25 million, multi-year investment for green energy projects, including the installation of approximately 20,000 solar panels across eight manufacturing sites globally, which is expected to reduce ITT’s emissions by more than six thousand tons of Co2 per year once completed.

“At ITT, sustainability is a way to improve our business practices and accelerate our growth while doing what’s best for our employees, customers and the communities we serve. We strive to develop environmentally friendly and sustainable technologies that reduce waste and improve energy efficiency, while enhancing our own operations. Whilst we are already starting to see the benefits of these investments, we know that we’re at the beginning of our sustainability journey and we are excited about what lies ahead,” Savi concluded.