Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Management
• Climate Change
• Customer-Centric Solutions
• Product Innovation
• Regulations and Compliance
• Supply Chain Management
• Workforce Health and Safety
• Attraction and Recruitment
• Engagement and Retention
• Diversity, Equity and Inclusion
• Governance, Ethics and Compliance

Environmental Achievements

• Launched a low-VOC topcoat that has reduced VOC emissions by 30% in our factory-applied-coating facilities
• Supplied 2,376 high-efficiency unit heaters; this helped save approximately 18,323,159 lbs. of CO2 emissions
• Supported the replacement of 10M+ lbs. of high-GWP synthetic refrigerants in our CO2 Gas Cooler product range through 8,000 transcritical refrigeration installations globally
• 64% of our facilities certify compliance with the ISO 45001 international standard for Environmental Management

Social Achievements

• Increased efforts to recruit diverse candidates, coupled with training about DEI at various levels of the organization
• Completed 49,114 hours of training across our global workforce
• Supplied 2,808 ventilation units, providing 1,194,225 ft3 of fresh, clean air per minute to 67,000 students and teachers

Governance Achievements

• Enhanced sustainability governance by forming three ESG subcommittees reporting to the ESG Steering Committee
• Revised Board committee charters, assigning three committees responsibilities for ESG oversight
• Instituted 80/20 training and awareness exercises reinforcing organizational mindset

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions
• Cost inflation
• Labor shortages
• Impact of the COVID-19 pandemic

Mitigation Strategies

• Launched 80/20 initiative to collect and analyze customer and product data
• Reshaped business, improved operations, addressed headwinds
• Implemented Modine Safe at Work plan (COVID-19 protocols)
• Developed new and creative ways to leverage technology in recruitment and interview processes

Supply Chain Management

Responsible Procurement

• Modine Global Supplier Manual outlines expectations for ethical conduct, environmental, health and safety, compliance, and quality management.

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products
• High-growth markets supporting decarbonization

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 14001, ISO 45001, ISO 9001:2015

Sustainable Products & Innovation

• Low-GWP HVAC systems
• Thermal management systems for electric vehicles
• High-efficiency unit heaters
• Water-conserving data center solutions
• EGR-C components for emissions reduction

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Management
• Product Innovation
• Workforce Health and Safety
• Diversity and Inclusion
• Governance

Environmental Achievements

• Achieved 24% reduction in water usage (FY24, intensity metric by sales)
• Achieved 21% reduction in Scope 1 and Scope 2 emissions (FY24, intensity metric by sales)
• Airedale subsidiary achieved Carbon Footprint Standard certification for 2023/2024
• Leeds, England operations purchased 100% renewable electricity from UK-certified sources since 2022
• EV chargers at Racine headquarters helped avoid more than 25,500 kilograms of GHG emissions

Social Achievements

• Introduced the Modine Values People Award program in fiscal 2023
• Implemented SAP SuccessFactors, a centralized HR information system
• Lowest RIR (1.07) in company history in fiscal year 2023

Governance Achievements

• Strengthened corporate sustainability function
• Sustainability Steering Committee comprised of CEO, CFO, General Counsel, and VP – Human Resources

Climate Goals & Targets

Environmental Challenges

• Increased RIR for fiscal year 2024 (1.35) despite outperforming industry average
• Supply chain challenges and inflationary market conditions

Mitigation Strategies

• Implemented action plans for facilities with a RIR higher than 3.0, including additional monthly meetings
• Focusing on proven technologies and products where they have the right to win, while embracing emerging technologies

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Modine Global Supplier Manual

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Changes in legislation, regulations, and government incentive programs addressing climate change

Opportunities

• Supply of alternative new technologies to meet environmental and/or energy standards

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 14001:2015 (at all facilities), Carbon Footprint Standard (Airedale subsidiary)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• EVantage™ thermal management systems
• AireWall ONE™ for data centers
• AlphaChill™ chiller range
• AmpDawg™ electric unit heater
• MEL Series electric infrared heaters

Awards & Recognition

• Not disclosed