ArcBest Releases Annual Environmental, Social and Governance Report
ArcBest Releases Annual Environmental, Social and Governance Report Company’s third ESG report highlights diversity, equity and inclusion (DEI) advances; enhanced sustainability reporting includes new Scope 1 and Scope 2 emissions data
FORT SMITH, Arkansas, June 1, 2022 — ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, today released its third annual Environmental, Social and Governance (ESG) report, highlighting the company’s significant progress and ongoing efforts in building a safer, more sustainable and more inclusive company and world. The report features ArcBest’s roadmap for achieving and surpassing important diversity, equity and inclusion (DEI) milestones, as well as new disclosures on climate risk management inclusive of Scope 1 and Scope 2 carbon emissions — the next step in offering stakeholders greater insights into how the company can better manage the emissions resulting from its operations.
“As a $4 billion industry leader, we have a great responsibility to pursue activities and initiatives that improve the sustainability of our operations, provide an inclusive workplace for all, and give back to the communities where we operate,” said Judy R. McReynolds, ArcBest chairman, president and CEO. “ESG is core to our long-term strategy and vision because it is critical for our business and our customers. This is reflected in both our financial results and sustainability reporting. We celebrate our progress and are committed to improving transparency and clearly defining our ESG goals moving forward. Our people remain focused on innovation, talent development, customer service and profitable growth, as we continue building on our history of responsible stewardship.”
The 2021 report includes progress updates in the areas of Governance, Safety, Technology and Innovation, Climate, Environment, Workforce and Community. It also reports findings from the company’s 2021 ESG materiality assessment, which identified issues most important to the company’s stakeholder groups, evaluated the company’s progress and helped prioritize short- and long-term areas of focus. Highlights of the company’s achievements covered in the 2021 ESG report include:
- Creating an ESG Program Manager Role that is focused on ESG strategy — partnering with leaders across the organization to identify opportunities for improved environmental sustainability, address climate-related issues, implement best practices, and facilitate external reporting and public disclosures.
- Creating an ESG dashboard to capture and analyze Scope 1 and Scope 2 carbon emissions more efficiently.
- Disclosing Scope 1 and Scope 2 carbon emissions for the first time in company history.
- Creating a Corporate Social Responsibility (CSR) Program Manager Role to lead the development of the company’s DEI strategy, roadmap and initiatives and partner with leaders across the organization to implement and manage employee policies and programs.
- Developing and announcing a three-year DEI strategy roadmap focusing on four key areas: workforce, workplace, marketplace and community.
- Forming a DEI taskforce to help ensure employees’ voices and feedback remain at the forefront.
- Developing a Crisis Management Framework which provides a planning structure that improves the company’s ability to prepare for, respond to and recover from crisis events.
- Giving back more than $2.4 million to 135 organizations through volunteering, fundraising and donating.
ArcBest’s 2021 ESG report was informed by input from leaders across the company and in consultation with the Nominating/Corporate Governance Committee of the Board of Directors, ESG Executive Sponsors and the ESG Committee, which includes representatives from functional areas across the company, including Safety and Security, Carrier Relations, Internal Audit and others. The report has been prepared in accordance with Sustainability Accounting Standards Board (SASB) Standards and includes disclosures on climate-related risks and opportunities through the Task Force on Climate-related Financial Disclosures (TCFD) framework.
ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with nearly 15,000 employees across more than 250 campuses and service centers, the company is a logistics powerhouse, fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages its full suite of shipping and logistics solutions to meet customers’ critical needs, each and every day. For more information, visit arcb.com.
1 Scope 1 emissions are direct greenhouse emissions (GHG) that occur from sources controlled or owned by ArcBest.
Scope 2 emissions are indirect GHG emissions associated with the purchase of electricity or in other ways that result in energy used by ArcBest.
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Media Contact: Autumnn Mahar