Crane Company
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:120,798 metric tons of CO2e
Renewable Energy Share:0.8%
Total Energy Consumption:238,000 MWh
Water Consumption:1.4 billion gallons
Waste Generated:9,100 metric tons of solid non-hazardous waste
ESG Focus Areas
- Philanthropy
- Sustainability
- Equality
Environmental Achievements
- 11% decrease in electricity consumption compared to 2018 baseline (13% decrease after adjusting for acquisitions)
- 4.2% reduction in water consumption from 2018 baseline
- 20% decrease in solid non-hazardous waste destined for landfills from 2018 baseline
- Increased renewable energy portfolio from less than 0.1% in 2021 to 0.8% (1.9 GWh) in 2022
- Installation of a 1.1 MW rooftop solar system at Crane Currency Malta, anticipated to produce 1.5 GWh annually
Social Achievements
- Increased female representation by 0.7% globally and US-based ethnically diverse representation by 1.4% in the past three years
- 26,732 associate volunteer hours contributed to 425 organizations across 21 countries in 2022 (69% increase over 2021)
- Crane Flex program implemented, offering full-time on-site, full-time remote, or hybrid work options
- 345 DEI workshops conducted since September 2021, with ~100% of Crane associates participating
Governance Achievements
- Established a PSE Council at the management level that meets monthly to review and assess PSE initiatives
- Full Board of Directors reviews PSE initiatives annually with 100% attendance in July 2022
- Ethics Hotline available for associates to report concerns, with an average of 14 days to close out issues in 2022
Climate Goals & Targets
Medium-term Goals:
- Reduce water intensity by 10% by 2030 (2018 baseline)
- Reduce electricity intensity by 20% by 2030 (2018 baseline)
- Reduce solid non-hazardous waste intensity by 15% by 2030 (2018 baseline)
Short-term Goals:
- Reduce emissions intensity by 20% by 2030 (2020 baseline)
Environmental Challenges
- Increase in emissions intensity due to the closure of a waste-to-energy company and subsequent shift to on-site natural gas and oil-fired burners
- Increase in water consumption intensity due to labor efficiency improvements
- Increase in solid non-hazardous waste intensity despite overall reduction in waste generation
Mitigation Strategies
- Roadmap for on-site solar installations
- Initiatives to source cleaner energy
- Emissions reduction initiatives across various business units
- New water filtration system at Crane Currency Tumba to reduce water consumption and recycle water more efficiently
- Various waste reduction initiatives across sites, including scrap reduction, behavioral changes, new equipment, material substitution, and waste-to-energy programs
Supply Chain Management
Responsible Procurement
- Supplier Code of Conduct
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: ISS, SASB, TCFD, GRI
Certifications: ISO 14001
Sustainable Products & Innovation
- DC-DC converters for electric aircraft
- Power systems and thermal management systems for electric ground fleet
- Pressure transducers for natural gas and hydrogen buses
- Durable paper banknotes
- Credit card readers for electric vehicle charging stations
- High efficiency motors for wastewater treatment plants
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:49,649 metric tons of CO2e/year
Renewable Energy Share:4.9% of total energy use
Total Energy Consumption:88,398 MWh/year
Water Consumption:57.9 million gallons/year
Waste Generated:6,608 metric tons/year (solid non-hazardous to landfill)
ESG Focus Areas
- Philanthropy
- Sustainability
- Equality
Environmental Achievements
- 21% decrease in emissions intensity per thousand direct labor hours over the 2020 baseline
- 19% improvement in electricity consumption compared to the 2018 baseline (23% after removing the impact of an acquisition)
- 27% reduction in water consumption from the 2018 baseline
- 33% decrease in solid non-hazardous waste to landfill from the 2018 baseline (16% reduction in waste intensity)
- Increased renewable energy portfolio from 1.9% in 2022 to 4.9% in 2023
Social Achievements
- $24.9M donated to charitable organizations and financially burdened former employees
- 21,522 associate volunteer hours contributed to 402 organizations across 19 countries
- Steady increases in female and ethnic minority representation in the US workforce over the past three years
Governance Achievements
- Established a PSE Council at the executive management level that meets monthly to review PSE initiatives
- Full Board of Directors engaged annually for a comprehensive review of PSE initiatives
- Zero product recalls in 2023
- Average DART rate remained below the consolidated industry average by 52% over the past eight years, with a 20% improvement from 2022 to 2023
Climate Goals & Targets
Medium-term Goals:
- 20% reduction in emissions intensity by 2030 (2020 baseline)
- 20% reduction in water intensity by 2030 (2018 baseline)
- 10% reduction in electricity intensity by 2030 (2018 baseline)
- 15% reduction in solid non-hazardous waste intensity by 2030 (2018 baseline)
Environmental Challenges
- Supply chain disruptions (implied due to discussion of challenges faced by charitable organizations)
- Scope 3 emissions not currently tracked
- Data limitations on ethnicity outside the US
- Aging workforce and exodus of nuclear experience in the nuclear industry
Mitigation Strategies
- Developing methodology to track Scope 3 emissions
- Developing a science-based target for emissions reduction in 2024
- Implementing various emissions reduction initiatives (e.g., geothermal heating, on-site solar installations, renewable energy sourcing)
- Launching the “Crane Valve Institute” to develop the nuclear industry talent pipeline
Supply Chain Management
Responsible Procurement
- Supplier Code of Conduct
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: ISS, SASB, TCFD, GRI
Certifications: ISO 14001 (seven Crane sites)
Sustainable Products & Innovation
- DC-DC converters for electric aircraft
- Power systems and thermal management systems for electric ground fleet
- Pressure transducers for natural gas and hydrogen buses
- High-efficiency motors for wastewater treatment plants
- Products for the hydrogen market