Kimball Electronics, Inc. released its 2024 Guiding Principles Report, serving as its annual sustainability disclosure. The report, themed 'Strategically Focused,' details the company's progress on environmental, social, and governance (ESG) initiatives and its commitment to long-term business success.
For the 2024 reporting period, Kimball Electronics applied the principle of double materiality, aligning with the EU’s Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS). The report introduces new sustainability targets for 2030 and provides an update on progress toward 2025 goals, with external assurance validating the disclosed performance.
The report highlights the company's global manufacturing capabilities, with expanded operations in Thailand, Mexico, and Poland. It notes that 65% of Kimball's products, by net sales, contribute to resource efficiency, including components for electric and hybrid vehicles, industrial automation, and water management solutions. The divestiture of the AT&M business in July 2024 is also mentioned, with its facilities excluded from 2024 and 2019 baseline greenhouse gas figures for consistent reporting.
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