NORTH
CANTON, Ohio, Aug. 29,
2024 /PRNewswire/ -- The Timken Company (NYSE: TKR;
www.timken.com), a global technology leader in engineered bearings
and industrial motion, today issued its corporate social
responsibility (CSR) report, providing an update on the company's
actions to improve the lives of individuals and communities,
benefit the planet and strengthen its business.
"Our deep experience and specialized expertise provide us with a
unique perspective and ability to navigate a rapidly changing world
together," said Richard G. Kyle, Timken president and
CEO. "As we look to the future, our founder Henry Timken's vision of making the world move
more efficiently and sustainably remains at the core of our
strategy and our approach to CSR."
The report highlights the company's progress towards its target
to reduce aggregate Scope 1 and Scope 2 greenhouse gas (GHG)
emissions intensity by 50 percent by 2030. Timken increased capital
investments from 2022 to 2023 to fund projects aimed at increasing
efficiency and reducing emissions in its plants, including on-site
renewable energy sources. From its 2018 baseline year through
year-end 2023, Timken decreased emissions intensity by about 40
percent.
As one of the leading suppliers to some of the world's most
notable wind and solar projects, the company contributes to the
global shift to renewable-energy production. Timken's focus on
sustainable processes and products to serve a wide and growing list
of industries helped it earn recognition from Fast Company
as one of the World's Most Innovative Companies.
In the latest CSR report, Timken announced the launch of a
global STEM education partnership with
FIRST® (For Inspiration and Recognition of
Science and Technology). The FIRST partnership is part
of an increased annual investment of $1.25
million for STEM programing in celebration of the company's
125-year legacy of leadership and innovation. Timken will
support multiple global programs for FIRST, whose mission is
to inspire and engage young people in mentor-based programming.
Timken employees will have the opportunity to volunteer, share
their skills as mentors and help prepare youth to participate in
FIRST robotics competitions.
"This partnership will allow us to expand our programming for
underserved youth and help increase female participation in STEM,"
said Mark Giordono, vice president
of development and alumni relations, FIRST. "While more than
81 percent of FIRST alumni declare majors in STEM
by their fourth year of college, we know
that FIRST experience enables a variety of post
high school education, employment, enlistment, and entrepreneurial
opportunities. Thanks to Timken's support, we can help prepare
even more young people today for the world of tomorrow."
Along with additional information on the FIRST
partnership and other educational initiatives, Timken shares in the
report how it's advancing a culture that helps employees grow as
professionals and thrive as individuals. The company's focus on
continuous growth and career-development opportunities resulted in
it being named one of America's Greatest Workplaces by
Newsweek and one of the Best Companies to Work For by
U.S. News & World Report.
About The Timken Company
The Timken Company
(NYSE: TKR; www.timken.com), a global technology leader in
engineered bearings and industrial motion, designs a growing
portfolio of next-generation products for diverse industries. For
125 years, Timken has used its specialized expertise to innovate
and create customer-centric solutions that increase reliability and
efficiency. The company posted $4.8 billion in sales in
2023 and employs more than 19,000 people globally, operating from
45 countries. Timken is one of the World's Most Innovative
Companies according to Fast Company, and has been
recognized among America's Most Responsible
Companies, America's Greatest
Workplaces and America's Greatest Workplaces for
Diversity by Newsweek, Best Companies to Work
For by U.S. News & World Report,
the World's Most Ethical Companies® by
Ethisphere and America's Most Innovative
Companies by Fortune.
Media Relations:
Scott
Schroeder
234.262.6420
scott.schroeder@timken.com
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SOURCE The Timken Company