NORTH
CANTON, Ohio, Sept. 27,
2022 /PRNewswire/ -- The Timken Company (NYSE:
TKR; www.timken.com), a global industrial leader in engineered
bearings and industrial motion products, today released
its annual corporate social responsibility (CSR) report and
announced a 2030 environmental target to reduce aggregate Scope 1
and Scope 2 greenhouse gas emissions intensity by 50 percent by
2030.1
"Timken exists to develop customer-focused solutions for the
world's most challenging applications," said Richard G. Kyle,
Timken president and CEO. "With our innovative product and service
solutions, we help our customers save energy and increase
efficiency. We're leveraging our 120-plus years of specialized
engineering expertise to drive sustainability in the products we
make, throughout our global operations and in the industries we
advance."
Work is already underway in Timken's global plants to achieve
the 2030 target by investing in plant-efficiency projects,
cultivating an eco-friendly mindset among the company's associates
and establishing plans to purchase more renewable energy as it
becomes more readily available.
Meanwhile, Timken continues to employ a sustainable engineering
process that enables its teams to identify opportunities for
improvement at every stage of product development. Timken innovates
with its customers, creating optimized designs that reduce power
loss and consumption, extend service life, cut down on maintenance
and are manufactured from recycled material. Concurrently, the
company is expanding its role as a leading global supplier for wind
turbines and solar power sites.
This year's CSR report also details how Timken is working to
build a stronger future by developing the next generation of
world-class problem solvers and creating resilient communities. The
company is committed to the success of its workforce, offering both
global programs and individualized career development and
advancement opportunities. Timken also leads in communities by
helping to provide global citizens with equal access to basic
needs, education and careers in STEM.
Timken maintains a long-standing reputation for strong values,
ethics and governance and, for the past two years, Newsweek
has recognized it as one of "America's Most Responsible
Companies."
1 The company is using 2018 as the baseline year
for calculating its reduction in emissions intensity. The
normalizing factor used to track emissions intensity is
revenue.
About The Timken
Company
The Timken Company (NYSE:
TKR; www.timken.com) designs a growing portfolio of
engineered bearings and industrial motion products. With more than
a century of knowledge and innovation, we continuously improve the
reliability and efficiency of global machinery and equipment to
move the world forward. Timken posted $4.1 billion in sales in 2021 and employs more
than 18,000 people globally, operating from 43 countries. Timken
has been recognized among America's Most Responsible
Companies by Newsweek, the World's Most Ethical
Companies® by Ethisphere, and America's Best Employers, Best
Employers for New Graduates and Best Employers for Women by
Forbes.
Media Relations:
Scott
Schroeder
234.262.6420
scott.schroeder@timken.com
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SOURCE The Timken Company