Terex Releases its 2023 Sustainability Report
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Terex Corporation announced the publication of its 2023 Sustainability Report, the Company’s fourth annual report. In the 2023 report, Terex provides expanded coverage and case studies of its sustainability commitment to team members, customers, investors, and the community at large. It details how sustainability is integral to Terex’s strategic business priorities, including product innovation and solutions that enable its customers to operate in safe and sustainable ways, and the practices that Terex has implemented at its locations that reduce negative impacts on the environment.
Terex concurrently released its sustainability strategy with the report. Stacey Babson Kaplan, Senior Vice President, Chief Sustainability & Compliance Officer, said: “Our sustainability strategy focuses on our products, solutions, and team members, and being good stewards of the environment. Our sustainability initiatives, aligned with our Execute, Innovate, Grow business strategy, will contribute to generating long-term value for our stakeholders. We believe the sustainability practices we have, and continue to implement, will contribute to a better business, a better planet, and a better future.”
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Terex offers a range of products and solutions that reduce or eliminate carbon emissions, increase waste processing, and advance the reuse of scarce resources, enabling customers to achieve their business objectives and reduce their impact on the environment. About 70% of products sold by Terex’s Genie or the Materials Processing businesses are available in electric and/or hybrid versions. Approximately one-third of our 2022 sales from our Materials Processing business are derived from products used for waste, recycling, and other environmental applications. Terex is also reducing its impact on the environment, focusing on carbon emissions reduction, energy conservation, waste and water reduction, and biodiversity. Terex has a year-end 2024 target of a 15% reduction in greenhouse gas and energy intensity from its 2019 baseline.
The report also covers the Company’s commitment to team member and product safety, Diversity, Equity & Inclusion, strong governance, among many other sustainability dimensions. Notably, in 2023, Newsweek named Terex one of America’s Most Responsible Companies.