Graham Corporation (NYSE: GHM), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries, today announced that it has issued its first Sustainability Accounting Standards Board (SASB) Factsheet that it is available at https://grahamcorp.com/sustainability. The Factsheet provides insight into Graham’s multi-faceted approach to enhance, advance and regularly communicate its sustainability strategy and environmental, social and governance (ESG) performance.
“Graham’s ESG responsibilities are at the core of our operating principles by which we measure ourselves,” commented Daniel Thoren, President and Chief Executive Officer. “We focus on the four tenets of our sustainability strategy, which are the environment, our people, our communities and overall corporate governance. The executive management team and the Board have established an ESG working group that overseas Graham’s sustainability strategy and ESG disclosures, including our 2022 Sustainability Accounting Standards Board (SASB) Factsheet.”
Highlights from the 2022 SASB Factsheet include:
- Corporate Governance: Graham emphasizes a culture of accountability and conducts its business in a manner that is fair, ethical, and responsible to earn the trust of its stakeholders. Graham has corporate governance policies and structures in place to support its culture of accountability and transparency. The Company continues to focus on diversity and independence at the Board level and the current Board includes a majority of independent directors.
- Environmental: The Company believes environmental stewardship is fundamental, and corporate-wide initiatives have been undertaken to improve energy efficiency and air quality intended to lessen its impact on the environment. Initiatives across the Company’s Batavia, NY and Arvada, CO businesses encourage recycling and reuse programs while seeking to install energy-efficient equipment where applicable. For fiscal 2021, total renewable energy was 5.2%, up from 1.5% in fiscal 2020. In addition, in fiscal 2021 Graham reduced its total energy consumption by 6.2% year over year.
- Social Responsibility: Graham is committed to fostering and embracing a culture where employees share a mutual understanding and respect for each other. Diversity, Equity, and Inclusion (DEI) are very important, and the Company’s goal is to attract, retain, and develop a workforce that is diverse in background, knowledge, skill, and experience. As of March 31, 2022, women represented approximately 19% of Graham’s total workforce and 33% of its independent directors. At the community level, Graham leverages the power of the company through donations, scholarships, education and participation with certain charitable organizations. The Company has participated or partnered in such programs as the Leukemia and Lymphoma Society Team in Training, the GLOW Corporate Cup, the United Way, the American Cancer Society and Habitat for Humanity. Graham has also partnered with nonprofit organizations to implement elementary school STEM programs and spearheaded Women in Manufacturing events.
ABOUT GRAHAM CORPORATION
Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries. The Graham Manufacturing and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems.
Graham routinely posts news and other important information on its website, www.grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.
Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “anticipates,” “believes,” “could,” “plans,” “goals,” “focus,” “seek,” ”may,” “will,” “should,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to implementing and achieving its environmental, social and governance strategies, initiatives and objectives, are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission, included under the heading entitled “Risk Factors.”
Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.
Christopher J. Thome
Vice President - Finance and CFO
Phone: (585) 343-2216
Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908