BELOIT, Wis., May 20, 2021 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC), a global leader in the engineering, design and manufacturing of power transmission and industrial drive train solutions, and high-efficiency electric motors and air moving systems, recently received an ESG Rating of 'A' from MSCI ESG Research LLC, reflecting an upgrade from a 'BBB' rating last year.
Notably, improvements in the Company's already-leading corporate governance practices contributed to the higher rating. The report also noted Regal's robust initiatives for workforce development, including career development programs as well as engagement initiatives. In the Environment framework, MSCI noted Regal's robust initiatives to address environmental impacts from air, water and waste emissions relative to peers.
Responding to Regal's upgraded MSCI ESG Rating, CEO Louis Pinkham commented "It's great to see our progress in ESG be reflected in our upgraded MSCI ESG Rating because sustainability, corporate social responsibility, and strong corporate governance practices are directly tied to our core Regal values and underpin our strategic vision."
Mr. Pinkham went on to comment, "Our driving Purpose at Regal is to 'Create a Better Tomorrow By Energy-Efficiently Converting Power Into Motion.' We're about to embark on our annual strategy review process, and with a greater intent than ever before, our business leaders will be detailing ways that Regal can better realize our Purpose and create benefits for our key stakeholders – our customers, our associates, and our shareholders – while contributing to the communities where we live and work, and to the planet at large."
A majority of Regal's products today can help customers reduce their energy consumption, meet increasingly stringent energy efficiency regulations, and achieve their own sustainability goals. The company is committed to leading in the realm of energy efficiency, particularly in its core domains of residential and commercial HVAC, air moving, pumps, and industrial power transmission, but increasingly in other areas as well, such as unit material handling and alternative energy. To support Regal's defined Purpose, and as communicated at the Company's Investor Day presentation in March 2020, Regal is making a variety of investments in talent and technology, including a commitment to raise its spending on research, development and engineering by $30 Million in the 2020-2022 timeframe.
About MSCI ESG Research
MSCI ESG Research provides in-depth research, ratings and analysis of the environmental, social and governance-related business practices of thousands of companies worldwide. MSCI's research is designed to provide critical insights that can help institutional investors identify risks and opportunities that traditional investment research may overlook. The MSCI ESG Ratings are also used in the construction of the MSCI ESG Indexes, produced by MSCI, Inc. For more information, click here.
About the Company
Regal Beloit Corporation (NYSE: RBC) is a global leader in the engineering and manufacturing of electric motors and controls, power generation and power transmission products serving customers throughout the world. Our purpose is to create a better tomorrow by energy-efficiently converting power into motion.
The Company is comprised of four operating segments: Commercial Systems, Industrial Systems, Climate Solutions and Power Transmission Solutions. Regal is headquartered in Beloit, Wisconsin and has manufacturing, sales and service facilities worldwide. For more information, visit RegalBeloit.com.
Disclaimer
THE USE BY REGAL BELOIT CORPORATION OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES ("MSCI") DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF REGAL BELOIT CORPORATION BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED 'AS-IS' AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI.
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SOURCE Regal Beloit Corporation