Climate Change Data

Carpenter Technology Corporation

Climate Impact & Sustainability Data (2023, 2024)

Reporting Period: 2023

Environmental Metrics

Total Energy Consumption:77.0 GJ per metric ton (2022)
Water Consumption:2.63 million m³ (2022)
Carbon Intensity:3.14 in 2022 (Scope 1 & 2)

ESG Focus Areas

  • Environmental Stewardship
  • Safety
  • Social Responsibility
  • Governance

Environmental Achievements

  • CO₂ emissions intensity decreased by more than 20%
  • Completed ISO14001 certification for four major production facilities, representing over 90% of their business
  • Established environmental targets to reduce water withdrawal intensity by 5% by 2035 and reduce energy intensity by 5% by 2035.

Social Achievements

  • Disclosed human rights management and mitigation strategies
  • Various personal engagement programs and an extensive training and development curriculum offered to employees
  • Community engagement through financial support and employee volunteerism

Governance Achievements

  • Ranked on Forbes America’s Most Cybersecure Companies List
  • Board of Directors maintains overall responsibility for ESG matters
  • Established ESG Steering Committee to ensure alignment across the enterprise

Climate Goals & Targets

Long-term Goals:
  • Net-zero carbon emissions by 2050 for Scope 1 & 2 emissions
Medium-term Goals:
  • Reduce water withdrawal intensity by 5% by 2035
  • Reduce energy intensity by 5% by 2035
  • 30% reduction in Scope 1 & 2 CO2 emissions by 2035

Environmental Challenges

  • Increase in Total Recordable Incident Rate (TRIR) to 1.7 due to increased employees undertaking new tasks.
Mitigation Strategies
  • Investing in additional training for employees with frequent monitoring and follow-up to address the increased TRIR.

Supply Chain Management

Responsible Procurement
  • Code of Business Conduct and Ethics
  • Human Rights Policy
  • Supplier Code of Conduct
  • Responsible Minerals Initiative (RMI) engagement

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events impacting supply chain
Transition Risks
  • Carbon pricing
  • Mandates and regulations on products and services
  • Shifts in consumer preferences
Opportunities
  • Growth through new sustainable products and markets
  • Improved operational performance through increased efficiency

Reporting Standards

Frameworks Used: SASB, TCFD

Certifications: ISO 14001

Sustainable Products & Innovation

  • Specialty alloys with lower GHG emissions intensity compared to traditional metal manufacturers
  • Sustainable powder packaging initiatives in additive manufacturing

Awards & Recognition

  • Ergo Cup Award (Athens, AL location)

Reporting Period: 2024

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:~90% of electricity from carbon-neutral power in 2023
Total Energy Consumption:Not disclosed
Water Consumption:3.3 million m3/year (total)
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental Stewardship
  • Safety
  • Social Responsibility
  • Governance

Environmental Achievements

  • Reduction in carbon emission intensity across operations for the second year in a row in calendar year 2023.
  • 75% of feedstock used in production is recycled scrap.
  • 100% of slag produced in melt operations is recycled.
  • 77% of waste was recycled in 2023.
  • Energy intensity improved from 85 GJ per metric ton in 2022 to 83 GJ per metric ton in 2023.

Social Achievements

  • Total Recordable Incident Rate (TRIR) of 1.8 in fiscal year 2024, far below industry rates.
  • Launched annual Impact Awards in 2017, donating over $600,000 to various organizations.
  • Donated $110,000 in 2023 to various organizations through Impact Award winners.
  • Employee-driven community service program, Carpenter Technology Cares, actively engages in community events.

Governance Achievements

  • Maintains strong corporate governance practices.
  • 40% of Board members are women or ethnically diverse.
  • Maintains EthicsPoint®, an anonymous reporting system for ethical violations.

Climate Goals & Targets

Long-term Goals:
  • Net-zero carbon emissions by 2050 for Scope 1 & 2 emissions
Medium-term Goals:
  • 30% reduction in GHG emissions intensity by 2035
  • 5% reduction in energy intensity by 2035
  • 5% reduction in freshwater intensity by 2035
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Transition risks associated with a low-carbon economy (carbon pricing, regulations, consumer preferences).
  • Physical risks to supply chain from extreme weather events.
Mitigation Strategies
  • Recycling waste heat, converting to electric boilers/furnaces, increasing renewable energy share, improving operational efficiencies.
  • Developing alternative sourcing strategies (not explicitly stated, but implied by focus on sustainable sourcing).

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier Code of Conduct
  • Sustainable Supplier program (launched in 2023)

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events impacting supply chain
Transition Risks
  • Carbon pricing
  • Regulations on products and services
  • Shifts in consumer preferences
Opportunities
  • Growth through new sustainable products and markets
  • Improved operational performance through increased efficiency

Reporting Standards

Frameworks Used: SASB, TCFD

Certifications: ISO 14001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Forbes “America’s Most Cybersecure Companies” list (2023)