Fastenal Company (Nasdaq: FAST) is proud to announce the publication of its 2023 ESG Report. The report, which recaps Fastenal's performance and progress in 2022, was produced with reference to the Global Reporting Initiative (GRI) standards and aligns with the ESG disclosure and reporting frameworks established by the Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-Related Financial Disclosures (TCFD).
One of the initiatives detailed in the report is Fastenal's completion of a materiality assessment to define and prioritize key ESG issues impacting the company and its stakeholders, including employees, customers, suppliers, shareholders, and local communities. Based on this exercise, Fastenal has defined its ESG vision, pillars, and strategic objectives, and has begun to create a roadmap (detailed strategies and goals) for each of the ESG topics found to be most significant.
Other 2022 highlights:
- Created an ESG Community of Practice to promote structured collaboration among leaders and subject matter experts across the organization who are vital to executing the roadmap.
- Achieved third-party certification to the ISO 45001 occupational health and safety management systems, the ISO/IEC 27001 information security management systems, and the ISO 14001 environmental management systems – together reflecting Fastenal's commitment to being a safe, secure, and sustainable organization.
- Established a perennial "Blue Team Blood Drive" in partnership with the American Red Cross and other blood supply organizations. The program includes in-person blood drives at large Fastenal facilities as well as a virtual blood drive, which allows employees and friends to participate at local community sites worldwide.
"Our ESG vision centers on three pillars that reflect who we are and what we believe in – empowering people, preserving our world, and serving as a trusted partner," said Dan Florness, Fastenal's president and CEO. "The 'Blue Team' at Fastenal is working hard to move forward on these fronts, and we're excited to see where the journey takes us in years to come."
VIEW THE REPORT HERE: www.fastenal.com/fast/esg
Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through more than 3,300 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI® (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain – a "high-touch, high-tech" approach encapsulated by our tagline, Where Industry Meets Innovation™. Our local service teams are supported by 16 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling us to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges.
Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements, which are subject to risks and uncertainties. The forward-looking statements contain words such as "plan," "believe," and similar expressions and our sustainability goals, targets, and expectations are long-term and inspirational and by their nature, include forward-looking statements. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those described in our ESG Report and our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Fastenal undertakes no obligation to update or revise any forward-looking statements.
Taylor Ranta Oborski
Financial Reporting & Regulatory Compliance Manager