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Avnet Ranked #139 Among Greenest Publically Traded Companies In The U.S. By Newsweek

Stocks in this article: AVT

Avnet, Inc. (NYSE: AVT), a leading global technology distributor, was recognized for the fourth year in a row on Newsweek’s Green Rankings list. Avnet placed No. 139 overall, moving up six spots from 2011 and 82 spots from 2010 on the annual ranking, which compares the largest publically traded companies in the U.S. on environmental performance. Newsweek rankings are based on a company’s environmental footprint, corporate management and transparency.

“Now more than ever, our stakeholders around the world are placing a higher value on how we impact the environment,” said Bob Gracz, Avnet’s vice president of Corporate Real Estate. “Reducing Avnet’s carbon footprint and overall energy use has been an important objective in how we manage all our facilities. Each year we continue to build upon our efforts in becoming a more sustainable company not simply because it’s good for business, but because it’s the right thing to do.”

Avnet has begun preparations to participate in the Global Reporting Initiative’s sustainability reporting process, which is widely used by companies around the world as a way to report sustainability information in a way that is similar to financial reporting. Involvement in this global initiative represents an opportunity to aid in benchmarking progress with elements of external reporting accountability.

Avnet’s 2012 global Carbon Footprint Analysis, which was conducted by German consulting firm DFGE, measured the amount of greenhouse gases Avnet emits directly or indirectly in day-to-day business activities. The results showed a 10 percent year-over-year improvement in overall carbon emissions as measured against revenue over the same period.

Avnet has taken numerous steps to reduce its impact on the environment. Some examples include:

  • Occupying or updating buildings and warehouses with more sustainable designs.
  • Modernizing locations to meet strict environmental standards such as LEED and ISO 14001.
  • Implementation of a wide variety of both innovative and practical projects that have improved the power efficiency of Avnet's data center operations. These projects included a new data storage management system, virtualization, a system hibernation script, green lighting, and physical improvements. As a direct result, Avnet has saved millions of dollars and avoided a multi-million dollar power build out to its Americas data center.
  • Enhancing recycling efforts at all facilities and the adoption of more environmentally-friendly packaging materials.
  • Using more energy-efficient lighting, which has saved Avnet’s Chandler, Ariz., component distribution center 3.8 million kilowatt hours per year, equating to more than $260,000 in energy savings.
  • Enabling employees to work remotely, significantly reducing the amount of carbon released for those commuting to work and reducing the amount of office space required.

In addition, as announced April 2012, Avnet’s entry into the electronics aftermarket services market helps position the company as a strategic provider of environmental solutions by providing total solutions for the aftermarket needs of electronics OEMs, service providers and corporations.

Newsweek collaborated with leading environmental researchers, Trucost and Sustainalytics, to rank companies in three categories: an Environmental Impact Score, an Environmental Management Score and an Environmental Disclosure Score. The complete Newsweek rankings, as well as the ranking methodology, can be found at http://greenrankings.newsweek.com/.

Avnet’s approach to corporate sustainability incorporates a broader perspective on total corporate social responsibility (CSR). In addition to environmental concerns, CSR takes into account initiatives such as community relations, employee practices and economic development. Learn more about the company’s ongoing efforts: http://www.localglobalgreen.com

Learn more on Avnet’s Environmental Sustainability blog: http://blogging.avnet.com/weblog/green/

Follow Avnet on Twitter: @AvnetComms

Connect with Avnet on Facebook and LinkedIn: facebook.com/avnetinc and http://www.linkedin.com/company/2572

About Avnet

Avnet, Inc. (NYSE:AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers globally. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of customers by providing cost-effective, value-added services and solutions. For the fiscal year ended June 30, 2012, Avnet generated revenue of $25.7 billion. For more information, visit www.avnet.com.

Copyright Business Wire 2010

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