Albany Impact: What We Stand For
We are Albany International. We leverage innovation leadership, operational excellence and the expertise of our diverse, engaged and talented global team to develop and produce highly engineered components and custom process solutions that improve efficiency, quality and cost for our customers in the aerospace and papermaking industries. We are committed to driving sustainably positive results for our company and for all of our stakeholders through consistent investment in talent and technology.
Our Sustainability Commitment: Rooted in Our Values
At Albany International, we have long been committed to sustainable practices in our business, our work environment, and in our communities. Day-in and day-out, we are guided by our core values of safety, accountability, integrity, respect, passion and innovation. These values are embedded in the way we do business and how we treat one another, our customers, our suppliers and partners, and the communities in which we live and work.
By living our values, we strive to make a positive impact on the world and advance our three core sustainability pillars of
(1) Respect for our people and communities,
(2) Accountability for our role as environmental stewards , and
(3) Integrity in how we govern our business .
We believe that this is the right way to do business and is essential for building long-term value for our stakeholders and ensuring Albany’s long-term success.
Our Approach to the Sustainability Journey
We view sustainability as an ongoing journey and an essential component of continuous improvement and operational excellence. With our Sustainability Council as our guide, and the ongoing engagement of our Board, we will continually build upon the efforts underway to further strengthen our sustainability practices, systems and goals in the years ahead.
Our goal with this work is ensuring we prioritize our sustainability efforts around what is not only most impactful to our business, but also most important to our stakeholders.
With this goal in mind, this year we achieved several key milestones:
- Established the Albany Sustainability Council with Board oversight and cross functional, global representation across the company;
- Assessed and researched views and preferences of key stakeholder groups, including current and prospective employees, customers, partners, environmental groups and investors;
- Evaluated reporting frameworks, to assess which standards are best aligned with our business and our stakeholders’ interests and prepare to report against and/or operationalize around the most material sustainability issues.
As a result of this comprehensive body of work, we now have an enhanced view of Albany’s sustainability strengths, disclosure gaps, challenges and opportunities.
Our Approach to Reporting Standards
Our approach to sustainability reporting is intended to evolve over time. With our Sustainability Council as our guide, and the ongoing engagement of our Board, we expect to refine our assessments of the most important sustainability topics from stakeholders’ perspective, deepen the scope of our reporting on select topics, and broaden the scope of topics covered in our reporting.
As part of our disclosure effort, we have begun to report against the SASB Standards disclosure metrics for Industrial Machinery & Goods companies, supplemented with relevant SASB Aerospace & Defense Standard metrics
We are operationalizing data collection systems and resources to prepare Albany to report the TCFD standards for Climate Change, including reporting on our Greenhouse Gas emissions.