Littelfuse Releases 2022 Sustainability Report

2023-08-03 20:28

CHICAGO--(BUSINESS WIRE)--Aug 3, 2023--

Littelfuse, Inc. (NASDAQ: LFUS), a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world, has released its 2022 Sustainability Report on Littelfuse.com. The report underscores the strength of the company’s sustainability program.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230803554685/en/

"Littelfuse is honored to share our third annual sustainability report, which showcases our unwavering commitment to our values and driving positive change in the world." - Dave Heinzmann, President & CEO. We are proud of the progress we have made in our sustainability program over the past year; our 2022 Sustainability Report includes highlights in the following three areas: environment - we are committed to conducting our manufacturing operations in a manner that minimizes our environmental impact while protecting our employees and communities; social - we demonstrate our commitment to our employees every day; we recognize by creating a culture where individuals are empowered to perform at their best, our organization operates at its fullest potential; and governance - we have a strong foundation based on global policies and procedures, and we know ethical decision-making and relationships based on trust are critical components of our continued long-term success. (Graphic: Business Wire)

"We are pleased to share our latest report, which reflects our dedication to integrating sustainability into all aspects of our business,” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “When we align our strategies with environmental responsibility, social progress, and governance practices, we create meaningful impact for our customers, shareholders, employees, and communities, and become more resilient as a company. I am very proud of our global teams’ efforts to drive positive change. Together, we are paving the way toward a brighter future that harmonizes business success with global wellbeing.”

Highlights from the 2022 Sustainability Report, which covers the calendar year ended December 31, 2022, include:

Environmental:
- 22% decrease in Scope 2 GHG emissions intensity; broadened Scope 3 disclosure
- 12% decrease in overall energy intensity
- Evolution of product environmental compliance steering committee
- Expanded conflict minerals due diligence program to include Cobalt and Mica
Social:
- Increased global female leaders and U.S. Black and African American employees
- ~20% reduction in total case incident rate
- Performed ongoing U.S. pay equity analyses
- Refined corporate values and behaviors to support long-term growth strategy
Governance:
- Expanded reporting framework alignment beyond GRI, SASB, and SDGs to include Task Force on Climate-Related Financial Disclosures Report (TCFD)
- Enhanced enterprise risk management process
- Augmented supplier due diligence program
- Implemented climate-related risks and opportunities committee

“Our 2022 Sustainability Report exemplifies our ongoing commitment to provide comprehensive disclosures for all stakeholders,” said Rebekah Mihm, Littelfuse Global Ethics, Compliance, and Sustainability Manager. “We continue to prioritize framework alignment and data governance as demonstrated by our TCFD report, and the implementation of ESG software. Our sustainability program is built on a strong foundation and encompasses robust ESG initiatives that will deliver positive impact for many years to come.”

To learn more about Littelfuse ESG initiatives, visit our environmental, social, and governance webpage. The 2022 Littelfuse Sustainability Report is available for download here.

At our foundational core, it’s Littelfuse employees who make the difference. We hire bright minds who want to make a big impact. To explore opportunities at Littelfuse, visit Littelfuse.com/careers.

About Littelfuse

Littelfuse (NASDAQ: LFUS) is a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 20 countries, with approximately 18,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation, and electronics end markets — everywhere, every day. Learn more at Littelfuse.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

The statements in this press release that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. Such statements are based on Littelfuse, Inc.’s (“Littelfuse” or the “Company”) current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties, include, but are not limited to, risks and uncertainties relating to general economic conditions; the severity and duration of the COVID-19 pandemic and the measures taken in response thereto and the effects of those items on the company’s business; product demand and market acceptance; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse's accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; and other risks which may be detailed in the company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This release should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 31, 2022.

Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2022, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20230803554685/en/

CONTACT: Littelfuse, Inc.

Investor Contact:

Trisha Tuntland

Head of Investor Relations

(773) 628-2163Media Contact:

Emily Davis

Head of Corporate Communications

(224) 453-8259

media@littelfuse.com

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: PROFESSIONAL SERVICES PHILANTHROPY HARDWARE SUSTAINABILITY CONSUMER ELECTRONICS TECHNOLOGY OTHER MANUFACTURING ENVIRONMENT SEMICONDUCTOR ENGINEERING OTHER PHILANTHROPY ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) MANUFACTURING

SOURCE: Littelfuse, Inc.

PUB: 08/03/2023 08:00 AM/DISC: 08/03/2023 07:58 AM

http://www.businesswire.com/news/home/20230803554685/en