{"id":518063,"date":"2021-07-27T08:04:19","date_gmt":"2021-07-27T12:04:19","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\/"},"modified":"2021-07-27T08:04:19","modified_gmt":"2021-07-27T12:04:19","slug":"parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\/","title":{"rendered":"Parker Commits to Achieving Carbon Neutral Operations by 2040, Advances Technologies that Enable a Sustainable Future"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"start\">CLEVELAND, July  27, 2021  (GLOBE NEWSWIRE) &#8212; Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies,\u00a0today released its\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Oy2FI9_mIgxOFr4D9AHGIpVRljXEHUxUutGsJ54O0EVd7eEazWrgB1qiAwDccxWSjU_dHmInxmoWdOtjPYqS73rS6YCSqtq2X65XpdTeyzBb_aLJe6qm5VyTBNbElOHj\" rel=\"nofollow noopener\" target=\"_blank\"><u>2020 Sustainability Report<\/u><\/a>\u00a0and announced a new commitment to achieve carbon neutral operations by 2040. Parker has also established a series of emissions targets to ensure continued progress.<\/p>\n<p align=\"start\">\n        <b>Scope I, II and III Emissions Targets<br \/><\/b>\n      <\/p>\n<ul>\n<li>Reduce absolute emissions directly from the company\u2019s operations and indirect emissions from purchased energy (scopes I and II) by 50% by 2030.\u00a0<\/li>\n<li>Reduce other indirect absolute emissions related to materials sourcing, logistics and services (scope III) by 15% by 2030, and 25% by 2040.<\/li>\n<li>Achieve carbon neutral operations (scopes I and II) by 2040.<\/li>\n<\/ul>\n<p align=\"start\">\u201cParker has made great progress on our sustainability journey and we recognize the need to do even more,\u201d said Tom Williams, Chairman and Chief Executive Officer of Parker. \u201cOur technologies enable customers around the world to be cleaner and more efficient, and this commitment to reducing our own carbon emissions is another important step we are taking to create a more sustainable future for generations to come.\u201d<\/p>\n<p align=\"start\">The targets, featured in this year\u2019s report, will be submitted for approval by the Science Based Targets initiative, which defines and promotes best practices in emissions reductions and carbon neutral targets in line with climate science\u200b. Parker\u2019s long-term strategy includes actions to reduce its energy consumption, investments in renewable energy and working closely with suppliers to further reduce energy use and emissions.\u00a0<\/p>\n<p align=\"start\">\n        <b>Technologies Enabling a Sustainable Future<\/b>\n      <\/p>\n<p align=\"start\">The 2020 Sustainability Report also highlights Parker\u2019s interconnected portfolio of motion and control technologies, which features a broad range of highly efficient products and systems engineered to help customers reduce resource consumption and greenhouse gas emissions.<\/p>\n<p align=\"start\">Parker delivers technology solutions that enable the adoption of cleaner and more efficient energy, electrification, light-weighting and other innovations with a positive, global environmental impact to hundreds of thousands of companies across the industrial, mobile and aerospace markets, including:<\/p>\n<ul>\n<li>A comprehensive suite of engineered materials such as thermal management, coatings, adhesives and vibration control that enable more electric applications.<\/li>\n<li>A broad range of motion and control technologies to support the use of various clean energy sources such as batteries, fuel cells, hydrogen, sustainable fuels and renewable energy.<\/li>\n<li>Strongest motion technology offering with electro-hydraulic, electro-mechanical, and pneumatic actuators, valves, pumps, motors, controllers, software and conveyance for more electric aerospace, mobile and industrial applications.<\/li>\n<li>Broad platform of filtration technologies to accelerate a cleaner and more sustainable world.<\/li>\n<li>Exciting bill-of-material expansion opportunities both for onboard OEM equipment as well as significant new infrastructure investment to support a cleaner technology world.<\/li>\n<\/ul>\n<p align=\"start\">\u201cWith more than a century of experience, we are often called to the table for the collaborations that help to solve the most complex engineering challenges,\u201d Williams added. \u201cBreakthroughs that make the world cleaner, smarter and safer would not be possible without Parker technologies.\u201d<\/p>\n<p align=\"start\">\n        <b>Sustainability Report Key Achievements<\/b><br \/>\n        \n      <\/p>\n<p align=\"start\">Other key achievements related to Parker\u2019s sustainability initiatives detailed in the report include:<\/p>\n<ul>\n<li>Safety is a core value that all Parker team members share, and the company has reduced its Recordable Incident Rate by 72% from 2015 through 2020. In 2020, the recordable incidents per 100 team members was 0.40, a reduction of 35% from 2019.\u00a0<\/li>\n<li>Since 2010, Parker has reduced energy intensity (MWh\/USD) by 42% and greenhouse gas intensity (MT\/USD) by 50%. In 2020, Parker\u2019s climate disclosure score was ranked in the top quartile among diversified industrial peer companies.\u00a0<\/li>\n<li>Today, Parker recycles more than 85% of waste generated by manufacturing operations and continues to reduce the volume of waste sent to landfills.\u00a0<\/li>\n<li>The Parker-Hannifin Foundation has donated $64 million since 2010, including $6 million in 2020.<\/li>\n<\/ul>\n<p align=\"start\">Additional information is available in Parker\u2019s latest\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Oy2FI9_mIgxOFr4D9AHGIpVRljXEHUxUutGsJ54O0EVJmELQEISYsdsQlx7ycQ-i03MTx-9fAFfHGA3njkBGFvtVXTBS054qel78nUgD1BxcmpjV1DuCffHsjpc2Lvjj\" rel=\"nofollow noopener\" target=\"_blank\"><u>2020 Sustainability Report<\/u><\/a>. Learn more at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=plro_ipKR12y7g7lNWw1HHpu5a4TjU2ene0tYka9B47w0kYHo4pr2hP8uItuONWvIbZYz4ZBhkw8h6Z8YUuggH4hsbFpITEZt2o7760w4q3CwFk88jycotcfiISzZWwa\" rel=\"nofollow noopener\" target=\"_blank\"><u>www.parker.com\/sustainability<\/u><\/a>.\u00a0<\/p>\n<p align=\"start\">\n        <strong><br \/>\n          <u>About Parker Hannifin<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Learn more at www.parker.com or @parkerhannifin.\u00a0<\/p>\n<p align=\"start\">\n        <b><br \/>\n          <u>Forward-Looking Statements\u00a0<\/u><br \/>\n        <\/b><br \/>\n        <br \/>Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. These statements may be identified from the use of forward-looking terminology such as \u201canticipates,\u201d \u201cbelieves,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cpotential,\u201d \u201ccontinues,\u201d \u201cplans,\u201d \u201cforecasts,\u201d \u201cestimates,\u201d \u201cprojects,\u201d \u201cpredicts,\u201d \u201cwould,\u201d \u201cintends,\u201d \u201cexpects,\u201d \u201ctargets,\u201d \u201cis likely,\u201d \u201cwill,\u201d or the negative of these terms and similar expressions, and include all statements regarding future performance, earnings projections, events or developments. Parker cautions readers not to place undue reliance on these statements. It is possible that the future performance and earnings projections of the company, including its individual segments, may differ materially from current expectations, depending on economic conditions within its mobile, industrial and aerospace markets, and the company&#8217;s ability to maintain and achieve anticipated benefits associated with announced realignment activities, strategic initiatives to improve operating margins, actions taken to combat the effects of the current economic environment, and growth, innovation and global diversification initiatives. Additionally, the actual impact of changes in tax laws in the United States and foreign jurisdictions and any judicial or regulatory interpretation thereof on future performance and earnings projections may impact the company\u2019s tax calculations. A change in the economic conditions in individual markets may have a particularly volatile effect on segment performance.\u00a0\u00a0<\/p>\n<p align=\"start\">Among other factors which may affect future performance are: the impact of the global outbreak of COVID-19 and governmental and other actions taken in response; changes in business relationships with and purchases by or from major customers, suppliers or distributors, including delays or cancellations in shipments; disputes regarding contract terms or significant changes in financial condition, changes in contract cost and revenue estimates for new development programs and changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the integration of LORD Corporation or Exotic Metals; the ability to successfully divest businesses planned for divestiture and realize the anticipated benefits of such divestitures; the determination to undertake business realignment activities and the expected costs thereof and, if undertaken, the ability to complete such activities and realize the anticipated cost savings from such activities; ability to implement successfully capital allocation initiatives, including timing, price and execution of share repurchases; availability, limitations or cost increases of raw materials, component products and\/or commodities that cannot be recovered in product pricing; ability to manage costs related to insurance and employee retirement and health care benefits; compliance costs associated with environmental laws and regulations; potential labor disruptions; threats associated with and efforts to combat terrorism and cyber-security risks; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; global competitive market conditions, including global reactions to U.S. trade policies, and resulting effects on sales and pricing; and global economic factors, including manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and general economic conditions such as inflation, deflation, interest rates and credit availability. The company makes these statements as of the date of this disclosure and undertakes no obligation to update them unless otherwise required by law.<\/p>\n<p align=\"center\">###<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4NzQ0OCM0MzE2NzY3IzIwMDkzMzg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/58c31278-7571-4d1b-8e19-a103470ceec8\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Media \u2013\r\nAidan Gormley, Director, Global Communications and Branding\r\n216\/896-3258\r\naidan.gormley@parker.com<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CLEVELAND, July 27, 2021 (GLOBE NEWSWIRE) &#8212; Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies,\u00a0today released its\u00a02020 Sustainability Report\u00a0and announced a new commitment to achieve carbon neutral operations by 2040. Parker has also established a series of emissions targets to ensure continued progress. Scope I, II and III Emissions Targets Reduce absolute emissions directly from the company\u2019s operations and indirect emissions from purchased energy (scopes I and II) by 50% by 2030.\u00a0 Reduce other indirect absolute emissions related to materials sourcing, logistics and services (scope III) by 15% by 2030, and 25% by 2040. Achieve carbon neutral operations (scopes I and II) by 2040. \u201cParker has made great progress on our sustainability journey and we recognize &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Parker Commits to Achieving Carbon Neutral Operations by 2040, Advances Technologies that Enable a Sustainable Future&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-518063","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Parker Commits to Achieving Carbon Neutral Operations by 2040, Advances Technologies that Enable a Sustainable Future - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parker Commits to Achieving Carbon Neutral Operations by 2040, Advances Technologies that Enable a Sustainable Future - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"CLEVELAND, July 27, 2021 (GLOBE NEWSWIRE) &#8212; Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies,\u00a0today released its\u00a02020 Sustainability Report\u00a0and announced a new commitment to achieve carbon neutral operations by 2040. Parker has also established a series of emissions targets to ensure continued progress. Scope I, II and III Emissions Targets Reduce absolute emissions directly from the company\u2019s operations and indirect emissions from purchased energy (scopes I and II) by 50% by 2030.\u00a0 Reduce other indirect absolute emissions related to materials sourcing, logistics and services (scope III) by 15% by 2030, and 25% by 2040. Achieve carbon neutral operations (scopes I and II) by 2040. \u201cParker has made great progress on our sustainability journey and we recognize &hellip; Continue reading &quot;Parker Commits to Achieving Carbon Neutral Operations by 2040, Advances Technologies that Enable a Sustainable Future&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-27T12:04:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4NzQ0OCM0MzE2NzY3IzIwMDkzMzg=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Parker Commits to Achieving Carbon Neutral Operations by 2040, Advances Technologies that Enable a Sustainable Future\",\"datePublished\":\"2021-07-27T12:04:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\\\/\"},\"wordCount\":1192,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODI4NzQ0OCM0MzE2NzY3IzIwMDkzMzg=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/parker-commits-to-achieving-carbon-neutral-operations-by-2040-advances-technologies-that-enable-a-sustainable-future\\\/\",\"name\":\"Parker Commits to Achieving Carbon Neutral Operations by 2040, Advances Technologies that Enable a Sustainable Future - 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Parker has also established a series of emissions targets to ensure continued progress. Scope I, II and III Emissions Targets Reduce absolute emissions directly from the company\u2019s operations and indirect emissions from purchased energy (scopes I and II) by 50% by 2030.\u00a0 Reduce other indirect absolute emissions related to materials sourcing, logistics and services (scope III) by 15% by 2030, and 25% by 2040. 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