September 28, 2023 / 3 minute read
Advanced Drainage Systems Issues Fiscal 2023 Sustainability Report
HILLIARD, Ohio (September 28, 2023) — Advanced Drainage Systems, Inc. (ADS) (NYSE: WMS), a leading provider of innovative water management solutions, issued its Fiscal 2023 Sustainability Report today, demonstrating the company’s continued commitment to environmental leadership and progress toward its 10-year sustainability goals.
“ADS products protect and manage water, the world’s most precious resource, safeguarding the environment and communities” said Scott Barbour, president and chief executive officer. “Large-scale stormwater-related natural disasters are occurring more frequently and with higher volatility. These events underpin the need for innovative stormwater management solutions that meet the challenges we face today.”
Highlights from the report include:
- Recycling: 540 million pounds of recycled material purchased in Fiscal 2023.
- Environmental Impact Reduction: Continued progress toward establishing Science Based Targets to reduce absolute greenhouse gas emissions, as well as a 16% reduction in emissions intensity in Fiscal 2023.
- Accountability: Implementation of a supplier code of conduct and signatory to United Nations Global Compact.
- Social Purpose: Increased diversity at management level by 39% and established an internal Culture Exchange Council.
- Operational Excellence: 3% improvement in companywide safety performance (Total Recordable Incident Rate or TRIR).
The report also includes an update on the company’s Engineering and Technology Center, which will be the most advanced stormwater testing facility in the world.
“The Engineering and Technology Center is further proof of our commitment to being a leader in protecting and managing water,” continued Barbour. “This facility will enable us to bring material science, product innovation and manufacturing engineering under one roof, accelerating innovation and collaboration. Importantly, this facility will assist in the company’s initiative to incorporate one billion pounds of recycled material into our products by Fiscal 2032. As one of the largest plastic recyclers in North America, we recognize the important role we play in developing the circular economy for plastics.”
Last fiscal year, ADS also received recognition for its recycling, sustainability and diversity initiatives, including honors from the American Business Awards in corporate social responsibility and in environment, social and governance. ADS was named to USA TODAY’s inaugural America’s Climate Leaders list and was a finalist in Fast Company’s World Changing Ideas competition for its recycling work. ADS was also just recognized with the Ohio EPA’s E3 — Encouraging Environment Excellence — Award at the Gold Level.
Barbour concluded, “Sustainability is a core part of our business: We protect water through products that also remove recyclable plastics from the waste stream, giving them new life as innovative stormwater solutions that can last up to 100 years. In addition to the depth of our own sustainability offering, ADS helps enable our customers, suppliers, and partners to achieve their sustainability objectives through products that have a lower carbon footprint than traditional materials.”