Flex Releases 2022 Sustainability Report

Flex released its 2022 sustainability report, which summarizes the company’s global sustainability activities, performance and results from calendar year 2021. In tandem with the report’s release, the company announced a commitment to reach net zero greenhouse gas (GHG) emissions by 2040, doubling down on climate action efforts.

“Our 2021 achievements are encouraging and motivate us to continue pushing toward our 2030 sustainability goals. The progress we’ve made to date and commitment to reach net zero emissions by 2040 are only possible through the unwavering efforts of our 170,000 employees and ongoing collaboration with our suppliers and customers,” said Revathi Advaithi, CEO at Flex. “Now, more than ever, companies across every industry and sector must take purposeful steps to address the climate crisis and champion a more sustainable way of working. Flex is dedicated to doing its part to accelerate climate action and helping our value chain partners do the same.”

In 2021, Flex announced a new long-term sustainability strategy, framework and a comprehensive, ambitious set of targets, aligned with the United Nations Sustainable Development Goals and UN Global Compact’s ten principles. Through its sustainability strategy, Flex is focused on reducing its environmental impact, investing in local communities, advancing a safe, inclusive, and respectful workplace, driving responsible, ethical business practices and accelerating a more sustainable value chain in partnership with customers and suppliers.

2021 sustainability accomplishments included:

• 14% decrease in absolute scope 1 and 2 greenhouse gas emissions from 2019 baseline year.
• 97% of major sites of more than 1,000 employees partnered with an NGO.
• 17% reduction in safety incident rate year over year
• 100% of employees had access to emotional and mental health programs
• 22% female representation at the director level and above globally, and 31% racial and ethnic diverse representation at the director level and above in the U.S.
• 29% of preferred suppliers and 48% of specified customers, set greenhouse gas emissions reduction and science-based targets, respectively

In 2021, Flex received accolades and awards for sustainability and ESG leadership, including placement on the “A List” for water security strategy and performance from CDP for the second consecutive year and inclusion in the S&P Global Sustainability Yearbook for the third year in a row. Additionally, the company received a Platinum rating from EcoVadis and maintained the highest disclosure and transparency scores from Institutional Shareholder Services.

By 2040, Flex is committed to reaching net zero greenhouse gas emissions as part of the company’s overall sustainability strategy. The company joined the Science Based Targets initiative in 2021 and is focused on scope 1, 2 and 3 emissions reduction targets aligned with the Paris Agreement’s goal of limiting global temperature rise to 1.5°C above preindustrial levels.