ATLANTA, Aug. 3, 2022 /PRNewswire/ -- Essex Furukawa Magnet Wire today released its first annual Sustainability Report, as well as announced its Carbon Reduction targets in association with Vision 2030. The report was created to show accountability and progress toward Vision 2030: A Sustainable Future, Our Driving Force and will be released annually going forward. Also included in the report are results and goals for achieving Zero Waste to Landfill at manufacturing facilities, Energy Reduction, and Renewable Energy targets.
Vision 2030 was created with three core values—Disruptive Innovation, Green Production, and Agile Digitization—designed to be foundational building blocks that will help Essex Furukawa change the magnet wire industry for the better.
The report, according to CEO Daniel Choi, is part of holding the company accountable to the goals that it has publicly set.
"The level of transparency shown in this report reflects the commitment made when first announcing Vision 2030 in April of last year," Choi said. "Essex Furukawa will continue to find ways to innovate and manufacture more efficiently, with less environmental impact, and Vision 2030 outlines our path to achieving those goals."
The 25-page report covers results from the last year and how they relate to the holistic approach to sustainability that the company has embraced. It reviews Zero Waste to Landfill, Energy Reduction, Renewable Energy, and Carbon Reduction as it relates to Green Production. It also includes how Essex Furukawa is embracing Disruptive Innovation, and the steps already made in pursuit of Agile Digitization goals.
Austin Robinson, Sustainability Project Manager for Essex Furukawa, said that through these consistent communication efforts Essex Furukawa will be able to establish transparency both internally and externally.
"As we strive to create a sustainable future, we must remain steadfast in analyzing our data, finding additional solutions, and embracing a leadership mentality in sharing the results," she said. "We have made tremendous strides in many areas that are detailed in this report.
"Ultimately, we are very proud of the efforts made and of those that will continue into the future."
This Vision 2030 journey that Essex Furukawa has set out on does not stop with this first report. It is just an initial outpost. In releasing our findings from the last calendar year, we view today's action as an acknowledgment of what has been done, benchmarking it, and then setting our course of action for the future. Vision 2030 will lead the next decade with new innovations, additional developments, and refinements to our process.
Essex Furukawa Magnet Wire LLC is the leading, global provider of magnet wire that is used by most major OEMs, Tier 1 suppliers, and industry leaders in the automotive, energy, industrial, and commercial & residential sectors. The Atlanta-based company is a global joint venture formed in 2020 between Essex Magnet Wire and Furukawa Electric Co., Ltd., both leaders in magnet wire product development, and custom solutions. The combined entity, relying on the strengths of both Essex Magnet Wire and Furukawa Electric, draws on more than two centuries of combined experience and knowledge to push forward innovation while also remaining focused on delivering manufacturing excellence and outstanding customer service. essexfurukawa.com