Positioned at the intersection of sustainability and technology
Fiscal 2024 Key Highlights
by fiscal 2030 through the use of our put-in-place products replacing older products in existing buildings
Reduce Emissions Intensity from
the use of sold products
Our Goals
We decreased our Scope 1 and Scope 2 emissions by 6.2% in fiscal 2023,
by 42.8% between fiscal 2019-2029
(This target has been verified by the SBTi and is in line with a 1.5°C trajectory.)
Reduce Scope 1 & 2 Emissions
Reach Net Zero by 2040
Our Progress in 2023
by fiscal 2030 through the use of our put-in-place products replacing older products in existing buildings
Reduce Emissions Intensity from
the use of sold products
(Inclusion Index) at or above the norm for High-Performing Companies (in 2022, this norm was 84%)
Maintain a Belonging and Inclusion Score
(Trust Index) at or above the norm for High-Performing Companies by fiscal 2025 (in 2022, this norm was 85%)
Enable 100 Million Metric Tons of Carbon Avoidance
on our Responsible Sourcing Metric by fiscal 2025
Reach an Average Supplier Score of 3.0
at or above the norm for High-Performing Companies by fiscal 2025 (in 2023, this norm was 85%)
Achieve an Ethical Culture Score (Trust Index)
We achieved a score of 83% — maintaining the same level of confidence among our associates from our fiscal 2022 score (83%) We are setting our sights on further increasing our Ethical Culture Score over the next two years.
We achieved a score of 85% — maintaining the progress we made from our fiscal 2022 and fiscal 2021 score (85% and 84% respectively).
at or above the norm for High-Performing Companies by fiscal 2025 (in 2023, this norm was 88%)
Achieve a Sustainable Engagement Score
We achieved a score of 85% — maintaining the progress we made from our fiscal 2022 and fiscal 2021 score (85% and 84% respectively).
at or above the norm for High-Performing Companies (in 2023, this norm was 84%)
Maintain a Belonging and Inclusion
Score (Inclusion Index)
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reduction targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.
Our Commitment to Net Zero
We have also submitted near-term science-based targets for Scope 1, 2, and 3 emissions that will guide our emissions reduction efforts through 2030. We have near-term targets for Scope 1+2 (2029) and for Scope 3 (2030), which focuses on reducing our largest carbon emissions source: the emissions generated from customer use of our products. Once we achieve our near-term targets, we expect to continue reduction efforts aimed at achieving our long-term goal of Net Zero carbon emissions by 2040.
We have committed to Company-wide emission reductions in line with science-based net-zero with the Science-Based Targets initiative (SBTi) and submitted our targets for validation by the SBTi.
Last year we took The Climate Pledge as part of our ambitious goal of attaining net-zero carbon emissions by 2040. Our Net Zero ambition – to reach net-zero emissions across our value chain by 2040 – is in alignment with recognized climate science and the latest guidance from the United Nations Framework Convention on Climate Change Race to Zero campaign and with our goal of selling more products and solutions to help save energy and reduce carbon.
and by 25.6% overall from fiscal 2019 to fiscal 2023.
We achieved improved operating performance in fiscal 2024 that delivered end-user satisfaction and improved financial results.
PDF
2024
EarthLIGHT
Report
We continued to improve our business and allocate capital effectively.
We generated significant cash flow and effectively allocated capital consistent with our priorities, including — we invested $64 million in capital expenditures, and acquired certain assets of Arize horticulture lighting. We increased our dividend per share 15 percent and allocated approximately $89 million to repurchase over 454 thousand shares at an average price of $194 per share.
In our ACUITY BRANDS LIGHTING segment, our financial performance was strong, and we made progress on our strategy and on our initiatives. Our results are being driven by our strategy to increase product vitality, elevate service levels, use technology to improve and differentiate both our products and how we operate the business, and to drive productivity.
Evolved our strategic portfolios: Made to Order, Design Select™ and Contractor Select™, to create the most effective way for our end users to get what they need, when they need it, for their specific projects
Combined our lighting and supply chain organizations under one leader to better align the end-to-end connectivity of our processes to accelerate growth and drive productivity
Continued to be recognized for innovation and won several notable awards for products throughout the year including the prestigious Red Dot® “Best of the Best” award
Invested for future growth: Prioritized new verticals where we have not historically competed or where we are under-penetrated:
in the refueling market where we developed a new line of tailored product solutions; and
in the horticulture vertical where we built a product portfolio to service the horticulture environment through organic and inorganic product development
In our ACUITY INTELLIGENT SPACES segment, we continued to deliver strong growth and expanded margins through our strategy of making spaces smarter, safer and greener by connecting the edge to the cloud. We increased our addressable market by expanding where we compete and what we can control.
Expanded where we compete by adding System Integrator capacity in the UK, Australia and Asia
Completed the integration of KE2 Therm Solutions, Inc. (“KE2 Therm”) into the Distech Controls® business expanding what we control to include refrigeration
Launched Resense™ by Distech Controls® which won an award for best AI tech innovation for intelligent buildings
Won several notable sustainability awards for our Atrius® cloud applications
We achieved improved operating performance in fiscal 2024 that delivered end-user satisfaction and improved financial results.