CHENNAI: Flex (NASDAQ: FLEX) released its 2021 sustainability report, summarizing the company’s calendar year 2020 sustainability performance and results against the Flex 20 by 2020 goals. The report demonstrates Flex’s commitment to sustainable manufacturing operations, providing a safe environment for employees, applying responsible business practices and contributing to its communities during an unparalleled year.
In 2020, the company concluded its Flex 20 by 2020 strategy and goals in alignment with the United Nations Sustainable Development Goals and UN Global Compact’s ten principles. In total, Flex met 16 of its 20 goals across focus areas including people, community, environment, integrity and supply chain.
2020 key highlights
92% growth in renewable energy use year over year
21% reduction in incident rate year over year
Screened 100% of new global suppliers using social and environmental criteria
Conducted in-person Code of Business Conduct and Ethics training at 100% of Flex sites with direct labor employees
In response to the COVID-19 pandemic, the Flex Foundation, the company’s nonprofit charity arm, supported the relief efforts of a number of nonprofits globally. These partnerships included the Solidarity Response Fund – World Health Organization. In 2020, the Flex Foundation provided financial contributions, grants and mask donations across 33 local projects in 12 countries, benefiting an estimated 200,000 people. Additionally, the company donated 16.5 million Flex-made masks to employees and surrounding communities.
In 2020, Flex was recognized as an FTSE4Good Index Series constituent for the fifth consecutive year, received an A and A- rating from CDP (formerly Carbon Disclosure Project) for its disclosures in water security and climate change, respectively, and maintained the highest disclosure and transparency scores from Institutional Shareholder Services, among other accolades for its sustainability efforts.
“Sustainability is at the core of what we do to not only responsibly build great products for our customers, but also do our part in contributing to a healthier future. 2020 was a year unlike any other, and I am incredibly proud of the dedication, resiliency and adaptability demonstrated by our global workforce to help us meet many of our Flex 20 by 2020 goals and support our communities throughout the COVID-19 pandemic,” said Kyra Whitten, vice president, Marketing, Communications and Sustainability at Flex. “Continuing our purposeful journey, we are well positioned to scale proven best practices, apply invaluable lessons learned and drive more transparency to advance our long-term vision of sustainability and help our customers achieve their sustainability aspirations.”
2030 sustainability strategy and goals
Building on nearly 20 years of sustainability experience and investment, Flex refreshed its sustainability strategy and framework and announced its most ambitious goals yet in 2021. As part of its strategy, the company is committed to significantly lowering emissions through science-based targets in partnership with suppliers and customers, investing in its communities, advancing a safe, inclusive and respectful work environment for all and driving ESG-compliant practices with transparency.
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