Albany International Releases Comprehensive 2024 Sustainability Report, Highlighting ESG Achievements and Future Goals
Albany International Corp. (NYSE: AIN), a leading developer of engineered components and advanced materials, has officially published its 2024 Sustainability Report. This comprehensive document underscores the company’s ongoing commitment to sustainability, innovation, and corporate responsibility while outlining the strides made toward its ambitious environmental, social, and governance (ESG) objectives.
Driving Sustainability Through Innovation and Responsibility
In this year’s Report, Albany International emphasizes its dedication to integrating sustainable practices across its operations. The company has long recognized that is not only a moral obligation but also a crucial driver of business innovation, resilience, and long-term success. By leveraging cutting-edge technology and strategic initiatives, Albany continues to develop environmentally friendly solutions that enhance efficiency and reduce environmental impact.
“There are a few highlights we are particularly proud of this year,” said Gunnar Kleveland, President and CEO of Albany International. “Our participation in World Engineering Day for Sustainable Development exemplifies how our history of innovation translates into sustainable solutions for our customers. Additionally, our efforts in operational sustainability and community engagement initiatives will help drive a more sustainable and prosperous future for all of our stakeholders.”
Key Highlights from the 2024 Sustainability Report
Albany International’s 2024 Report details several significant initiatives and accomplishments across multiple ESG dimensions:
1. Environmental Stewardship and Climate Action
- Renewable Energy Commitment: Albany International has taken substantial steps to reduce its carbon footprint by participating in a U.S. virtual power purchase agreement (VPPA). This initiative is expected to address approximately 25% of the company’s total greenhouse gas (GHG) emissions.
- Operational Energy Efficiency: The company has made significant investments in energy-efficient manufacturing processes, reducing energy consumption and improving production .
- Sustainable Product Development: Albany continues to explore new ways to design and manufacture products that contribute to a greener future, particularly in the aerospace and paper industries.
2. Social Responsibility and Workforce Engagement
- Employee Well-Being and Inclusion: Albany International is committed to fostering an inclusive and diverse workforce. In 2024, the company expanded its diversity, equity, and inclusion (DEI) initiatives, strengthening employee support networks and leadership development programs.
- Community Engagement: Albany actively supports local communities through various outreach programs, volunteerism, and charitable contributions, aiming to create a lasting positive impact in the regions where it operates.
- Health and Safety Improvements: Employee safety remains a top priority. The company has implemented rigorous safety protocols, training programs, and workplace wellness initiatives to ensure a secure and healthy environment for all employees.
3. Governance and Ethical Business Practices
- Corporate Transparency: Albany International places a strong emphasis on transparency and accountability. The company has continued to enhance its ESG reporting framework, ensuring stakeholders have access to detailed and accurate information on sustainability efforts.
- Supplier Sustainability Standards: Recognizing the importance of a sustainable supply chain, Albany has introduced new policies to assess and promote responsible sourcing and ethical labor practices across its supplier network.
- Stakeholder Collaboration: The company actively engages with investors, customers, employees, and regulatory bodies to align its sustainability strategies with global standards and expectations.
Looking Ahead: Ambitious Sustainability Goals for the Future
As part of its long-term sustainability roadmap, Albany International has set forth ambitious objectives to build on its progress and further embed sustainability into its corporate strategy:
- Achieving Net-Zero Emissions by 2050 through enhanced energy efficiency, renewable energy adoption, and carbon offset initiatives.
- Enhancing Circular Economy Practices by increasing the use of recycled materials in production and developing eco-friendly product alternatives.
- Expanding ESG Training and Awareness among employees to foster a culture of sustainability and corporate responsibility.
“Sustainability is one of our core values, not just because it is important for our customers, employees, and other stakeholders, but because it drives innovation, resilience, and business value,” said Anna Yates, Head of Sustainability and EHS at Albany International. “By setting ambitious goals and making concrete progress, such as our participation in a U.S. VPPA to cut emissions by 25%, we are confident that our innovative approaches will continue to drive positive change.”
Commitment to Transparency and Stakeholder Engagement
Albany International firmly believes in the importance of open communication, accountability, and transparency in sustainability efforts. The company invites stakeholders to review the full Sustainability Report and provide feedback to help shape future initiatives.
The full 2024 Sustainability Report is available for download at www.albint.com/sustainability.
About Albany International Corp.
Albany International is a global leader in the design, engineering, and manufacturing of advanced materials and engineered components. The company operates two core business segments:
- Machine Clothing: The world’s leading producer of custom-designed, consumable belts essential for manufacturing paper, paperboard, tissue and towel, pulp, nonwovens, and various industrial applications.
- Albany Engineered Composites (AEC): A growing division specializing in advanced materials for commercial and military aerospace applications.
Headquartered in Rochester, New Hampshire, Albany International operates 30 facilities across 13 countries, employing approximately 5,400 people worldwide. The company is listed on the New York Stock Exchange under the ticker symbol AIN.
For more details about Albany International and its sustainability efforts, visit www.albint.com.