GlobalData offers a comprehensive analysis of Barnes Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Barnes Group‘s ESG performance. GlobalData’s company profile on Barnes Group offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Barnes Group, one of the global industrial and aerospace manufacturer, supported initiatives aimed at reducing climate change in 2022 and encouraged environmentally sustainable outcomes. Barnes Group's latest filings mentioned the keywords 'Emissions' and 'Renewable Energy' most number of times in relation to 'Climate Change'. Barnes Group has taken steps to reduce its environmental footprint, using less water and encouraging recycling within its operations.
The company has also evaluated longer-term social and environmental issues that may impact its business, such as climate change, and applies the precautionary approach. In 2022, the company's total Scope 1 & 2 GHG emissions were 47,080 metric tons of CO2e. The total greenhouse gas emissions (Scope 1 and 2) declined by 17% when compared to the base year of 2019. According to the company's CSR report for 2022, it consumed 258,000 m3 of water.
Barnes is actively striving to decrease energy and water consumption in its factories, as well as minimize the generation of industrial process waste from their manufacturing operations. In Mexico City, the facility introduced a filtration system and switched to a biodegradable soap, resulting in a 40% reduction in hazardous waste, from 14,600 kg in 2021 to 8,800 kg in 2022. Additionally, the Motion Control Solutions facility introduced a polypropylene plastic recycling system. the waste volume decreased to 62.5 kg per month. About 97.54% of the waste at the site is recyclable, while only 2.46% goes to the landfill. Consequently, this recycling system will reduce the monthly volume of landfill waste by 50%.
In conclusion, Barnes Group is dedicated to promoting environmental sustainability and actively supports initiatives to address climate change. They have successfully reduced emissions and water consumption while prioritizing recycling and waste reduction. Their commitment to sustainability establishes them as a leading responsible company in the industry.