VANCOUVER, British Columbia, March 28, 2022 (GLOBE NEWSWIRE) -- Finning International Inc. (TSX: FTT) ("Finning," the "Company," "we," "us" or "our") announced today the release of our 2021 Sustainability Report detailing our progress in people, safety, environment, product stewardship, communities, ethics, and governance.
"Our goal has always been to build and power a better world while caring for our people, communities and environment. We celebrate our employees' progress towards achieving the milestones set out on our sustainability roadmap," said Scott Thomson, president and CEO of Finning.
We are ahead of schedule on our carbon reduction commitments. We reduced greenhouse gas (GHG) emissions by 6% from 2020, including 4Refuel, despite significantly higher activity levels in 2021, which brings our GHG emissions down 28% from our 2017 baseline. In addition, to increase our commitment to sustainable operations, we expanded our mandate and raised our absolute GHG emissions reduction target from 20% to 40% from our 2017 baseline by 2027, including 4Refuel.
Key highlights from our 2021 Sustainability Report
"Through partnerships, collaboration and training, we will continue to create value and opportunities to discover, strengthen and establish ways towards a sustainable culture of accountability, trust and ability to affect change," added Thomson.
Our sustainability report is complemented by our Sustainability Roadmap, an external assurance report, and a Global Reporting Initiative (GRI) supplemental information package, which outlines our governance around sustainability, stakeholder engagement, material sustainability topics, and management approach. These documents are available on www.finning.com/sustainability.
| CONTACT INFORMATION: |
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| Amanda Hobson | Elisha McCallum |
| SVP, Investor Relations and Treasury | Director, Global Communications |
| (604) 331-4865 | (778) 668-0185 |
| FinningIR@finning.com | elisha.mccallum@finning.com |
| www.finning.com | |
ABOUT FINNING:
Finning is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers for more than 85 years. Finning sells, rents, and provides parts and services for equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland.
FORWARD-LOOKING STATEMENTS:
This news release contains information about our business outlook, objectives, plans, strategic priorities and other information that is not historical fact. Information we provide is forward-looking when we use what we know and expect today to give information about the future.
Forward-looking information in this report includes, but is not limited to, the following: the expansion of our mandate and raising of our absolute GHG emissions reduction target from 20% to 40% from our 2017 baseline by 2027, including 4Refuel; underground load haul dump truck that delivers zero exhaust emissions and electric dozer that provides 25% better fuel efficiency; capabilities to monitor carbon emissions through the sustainability dashboard offered through our CUBIQ™ Dealer Services Platform; and capabilities to offer turn-key solutions for CNG, RNG and hydrogen through ComTech Energy. All such forward-looking information is provided pursuant to the 'safe harbour' provisions of applicable Canadian securities laws. Unless otherwise indicated, forward-looking information in this report reflects our expectations at the date of this report. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking information, whether due to new information, future events, or otherwise. Forward looking information, by its very nature, is subject to numerous risks and uncertainties and is based on a number of assumptions. This gives rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking information and that our business and sustainability outlook, objectives, plans, strategic priorities and other information that is not historical fact may not be achieved. As a result, we cannot guarantee that any forward-looking information will materialize.
Factors that could cause actual results or events to differ materially from those expressed in or implied by this forward-looking information include: our ability to negotiate alternative power supply contracts on satisfactory terms and prices; general economic and market conditions and economic and market conditions in the regions where we operate; our ability to raise the capital needed to implement our business plan; and the integrity, reliability and availability of, and benefits from, information technology and the data processed by that technology.
Forward-looking information is provided in this news release for the purpose of giving information about our current expectations and plans and allowing investors and others to get a better understanding of our sustainability efforts. However, readers are cautioned that it may not be appropriate to use such forward-looking information for any other purpose. Forward looking information provided in this news release is based on a number of assumptions that we believed were reasonable on the day the information was given, including but not limited to: that we will be able to successfully manage our business through the current challenging times involving the effects of the COVID-19 response; that commodity prices will remain at constructive levels; that our customers will not curtail their increasing capital expenditures; that general economic and market conditions will be maintained or improve; that the level of customer confidence and spending, and the demand for, and prices of, our products and services will be maintained; our ability to successfully execute our plans and intentions; our ability to attract and retain skilled staff; that market competition will remain at similar levels; that the products and technology offered by our competitors will be as expected; and that our current good relationships with Caterpillar, our suppliers, service providers and other third parties will be maintained. Some of the assumptions, risks and other factors which could cause results to differ materially from those expressed in the forward-looking information in this report are discussed in our current Annual Information Form (AIF) and in our most recent annual and quarterly management's discussion and analysis (MD&A) for financial risks, including for updated risks related to the COVID-19 pandemic. We caution readers that any risks described in this news release, or in our MD&A or AIF are not the only ones that could impact us. Additional risks and uncertainties not currently known to us or that are currently deemed to be immaterial may also have a material adverse effect on our business, financial condition, or results of operations.
