Electrolux Group announced that for the third straight year, it has been named to the Sustainable Business SB20 listing of the world's top 20 sustainable stocks published by The Progressive Investor newsletter. The SB20 is chosen by an expert panel based on financial strength combined with an analysis of environmental and social performance indicators.
"This selection shows that we're on the right track by focusing on social and environmental affairs as elements of corporate governance," says Asa Stenqvist, Electrolux VP of Investor Relations. "Smart investors know that effective sustainability efforts translate directly into reduced risk and solid value."
Accomplishments in environmental, safety, and social responsibility by the Group's North American businesses made important contributions to the achievement, the appliance maker said.
Among the notable contributions by North American operations are:
The Group's major appliance factories in North America reduced overall regulated chemical emissions by 17 percent and refrigerant emissions by 20 percent in 2003, while manufacturing production increased by 20 percent.
15 out of the 16 Consumer Durables product factories are rated as either a "Conditionally Exempt" or "Small Quantities" Generator of Hazardous Wastes.
Consumer Outdoor Products Sector's Poulan/Weed Eater division and its lawn and garden tractor factory produced zero hazardous waste under the national hazardous waste law, the Resource Conservation Recovery Act.
Recycling has hit an all time high in Electrolux factories.
At the Orangeburg, SC, U.S. lawn tractor factory, the cost of waste disposal has been reduced by more than U.S. $700,000.
All sixteen of the Group's Consumer Durables product factories have achieved ISO 14001 Environmental Management System registration
In 2003, Electrolux Home Products North America achieved a 47-percent improvement in safety performance.
More than 3 billion gal of water can be saved annually by the front-loading washers produced by the company in 2003.
Frigidaire brand offers Energy Star rated major appliances in all product categories included in the Department of Energy program.
New Web-based training techniques were introduced for the introduction of the Electrolux Business Conduct Policy and other corporate governance issues.
"Our facilities in North America have continued to take big strides in pursuing sustainability in our products and processes," said Doug Mix, VP for Environmental and Regulatory Affairs for Electrolux North America, Inc. "They have learned that these improvements often have direct benefit to the business as well as the environment and communities. It's a commitment of the Group that has been embraced by local management in North America with a great deal of success."
Since the early 1990s, Electrolux has reported key environmental indicators annually, giving a public accounting of lifecycle impacts from raw material extraction through manufacturing, the product use phase and recycling or final disposal. The Group's latest Sustainability Report is available on the web at http://ir.electrolux.com/html/sustainabilityreport2003/
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