Franklin Electric Co., Inc. (NASDAQ: FELE) has been named to Newsweek’s list of America’s Most Responsible Companies 2022. This prestigious award is presented by Newsweek and Statista Inc., the world leading statistics portal and industry ranking provider. The awards list can currently be viewed on Newsweek’s website.
“We are honored to receive recognition for the work we do to implement sustainable business practices not only on a global scale but at home in Fort Wayne, Indiana,” said Gregg Sengstack, Chairperson of the Board and Chief Executive Officer. “Across all the communities we operate in, we are committed to expanding the availability of clean water, creating products that help with resource conservation, and addressing growing environmental safety concerns around fueling.”
Franklin Electric has made significant investments in research and development to improve the efficiency of its products and continues to deliver products such as the MagForce™ High Efficiency Motor System. Additionally, the company’s Global Product Supply team has placed a heavy focus on sustainability initiatives within Franklin Electric’s production and manufacturing facilities across select global facilities. For 2020 this included LED lighting upgrades, air quality control systems, waste stream audits, solar panel installations and UV mitigation efforts. Franklin Electric is also committed to reducing water consumption, for example, by eliminating the washing process for circuit boards in its Guadalupe, Mexico manufacturing facility, which is expected to save 5.9 million gallons of water per year.
The company is also recognized worldwide for their commitment to helping some of the most underserved communities access safe, clean drinking water. The Franklin Wells for the World Foundation (FWWF) provides safe, reliable and cost-effective water supplies to developing regions, focusing on Africa where the need is greatest. To date, the FWWF has impacted the lives of hundreds of thousands of people in over 10 countries by bringing clean water to the surface.
America’s Most Responsible Companies were selected based on publicly available key performance indicators (KPIs) derived from CSR Reports, Sustainability Reports, and Corporate Citizenship Reports as well as an independent survey. The KPIs focused on company performance in the environmental, social, and corporate governance areas, while the independent survey asked U.S. citizens about their perception of company activities related to corporate social responsibility.