Grainger – Grainger Releases 2023 Environmental, Social and Governance (ESG) Report

More information on Grainger: See the full profile on EMR Executive Services

More information on D.G. Macpherson (Chairman and Chief Executive Officer,Grainger): See the full profile on EMR Executive Services

More information on LGBTQ+: https://ok2bme.ca/resources/kids-teens/what-does-lgbtq-mean/ + Lesbian Gay Bisexual Transgender Queer or Questioning

People often use LGBTQ+ to mean all of the communities included in the “LGBTTTQQIAA”:

• Lesbian
• Gay
• Bisexual
• Transgender
• Transsexual
• 2/Two-Spirit
• Queer
• Questioning
• Intersex
• Asexual
• Ally
• + Pansexual
  + Agender
  + Gender Queer
  + Bigender
  + Gender Variant
  + Pangender

LGBTQ is the more commonly used term in the community; possibly because it is more user friendly! You may also hear the terms “Queer Community” or “Rainbow Community” used to describe LGBTQ2+ people. This initialism and the various terms are always evolving so don’t try to memorize the list. The most important thing is to be respectful and use the terms that people prefer.

EMR Additional Notes:

• ESG (Environmental, Social and Governance):
  • Refers to the three key factors when measuring the sustainability and ethical impact of an investment in a business or company. Most socially responsible investors check companies out using ESG criteria to screen investments.
  • ESG metrics are not commonly part of mandatory financial reporting, though companies are increasingly making disclosures in their annual report or in a standalone sustainability report.
  • There is not a standardized approach to the calculation or presentation of different ESG metrics.
    • Environmental: Conservation of the natural world
      • Climate change and carbon emissions
      • Air and water pollution
      • Biodiversity
      • Deforestation
      • Energy efficiency
      • Waste management
      • Water scarcity
      • …
    • Social: Consideration of people & relationships
      • Customer satisfaction
      • Data protection and privacy
      • Gender and diversity
      • Employee engagement
      • Community relations
      • Human rights
      • Labor standards
      • …
    • Governance: Standards for running a company
      • Board composition
      • Audit committee structure
      • Bribery and corruption
      • Executive compensation
      • Lobbying
      • Political contributions
      • Whistleblower schemes
      • …
  • Criteria are of increasing interest to companies, their investors and other stakeholders. With growing concern about he ethical status of quoted companies, these standards are the central factors that measure the ethical impact and sustainability of investment in a company.
  • Consequently, ESG analysis considers how companies serve society and how this impacts their current and future performance.
• CSR (Corporate Social Responsability):
  • Framework or business model that helps a company be socially accountable to itself, its stakeholders, and the public.
  • The purpose of CSR is to give back to the community, take part in philanthropic causes, and provide positive social value. Businesses are increasingly turning to CSR to make a difference and build a positive brand around their company.
  • CSR tends to target opinion formers – politicians, pressure groups, media. Sustainability targets the whole value chain – from suppliers to operations to partners to end-consumers.
• CSR vs. ESG:
  • CSR is a company’s framework of sustainability plans and responsible cultural influence, whereas ESG is the assessable outcome concerning a company’s overall sustainability performance.
  • The major difference between them is that CSR is a business model used by individual companies, but ESG is a criteria that investors use to assess a company and determine if they are worth investing in.

• OEM (Original Equipment Manufacturer):
  • Company that produces parts and equipment that may be marketed by another manufacturer.
  • Usually tagged on hardware or software that’s less expensive than normal retail products.
  • An OEM refers to something made specifically for the original product, while the aftermarket refers to equipment made by another company that a consumer may use as a replacement.
  • Electrical OEM manufacturers makes equipment or components that are then utilized by its customer, another manufacturer or a reseller, usually under the final reseller’s brand name. OEMs come in many shapes and sizes, making complete devices or specific components.
• MRO (Maintenance, Repair and Operations):
  • It refers to all the activities needed to keep a company’s facilities and production processes running smoothly.
  • Supplies consumed in the production process that do not become part of the end product.
  • Maintenance professionals use MRO items to maintain company structures, equipment, and assets. Purchases that fall under MRO include maintenance tools and equipment, replacement parts for production equipment, consumables such as personal protective equipment (e.g., safety goggles, work gloves), cleaning products and office supplies.
• Integrated Supply:
  • Integrated supply chain management refers to an enterprise resource planning approach to supply chain management.
  • Large-scale business strategy that brings as many links of the chain as possible into a closer working relationship with each other. The goal is to improve response time, production time, and reduce costs and waste.
  • Often takes the form of integrated computer systems. For example, the supplier’s computer system may be set up to deliver real-time data to the buyer’s computer. This allows the buyer to know: The current status of all orders., which products are in the supplier’s inventory …
  • Integration, operations, purchasing and distribution are the four elements of the supply chain that work together to establish a path to competition that is both cost-effective and competitive.
  • Integrated supply is the end-to-end process of managing the MRO supply chain (spare parts) through consolidated sourcing practices, storeroom operations, inventory management, data governance, and continuous improvement. The objective is to leverage spend, reduce transactions, and cut inventory and associated costs while eliminating risk around critical spares.

• DEI (Diversity, Equity and Inclusion):
  • https://dei.extension.org/ + Diversity is the presence of differences that may include race, gender, religion, sexual orientation, ethnicity, nationality, socioeconomic status, language, (dis)ability, age, religious commitment, or political perspective.
    • Equity is promoting justice, impartiality and fairness within the procedures, processes, and distribution of resources by institutions or systems.
    • Inclusion is an outcome to ensure those that are diverse actually feel and/or are welcomed.  Inclusion outcomes are met when you, your institution, and your program are truly inviting to all.