EMBRACING TRANSFORMATION TO POWER A RESILIENT FUTURE
For decades, we’ve seen the electrical industry mature, expand and evolve. Yet, never have we been so energized by the current industry landscape and the path ahead. The shift toward renewables and electrification is transforming the way we deliver power, and Southwire’s technologies are playing a leading role.
Now is the time for our company to build momentum and accelerate the pace of sustainable change. We’re well prepared to do so; over the past six years, we’ve focused on a strategic plan designed to position our company for future growth. The plan allows us to become a diversified electrical business built on our wire and cable foundation. Reflecting on our performance in 2022, it’s clear our efforts are paying off.
“ Now is the time for our company to build momentum and accelerate the pace of sustainable change.”
Throughout the year, we generated $9 billion in revenue, including more than $600 million from solutions with sustainable attributes. Sustainability-focused projects represented more than half of our annual investment in Research & Development (R&D). We also launched new technologies for areas such as grid adaptation and electric transportation — products that support a reduced-carbon economy and community resilience over the long term.
We believe in leading by example, so we’ve deepened our commitment to environmental stewardship and reducing our company’s carbon footprint. In several regions, we continued projects to modernize our facilities, and we were proud to open our new Copper Rod Plant in Carrollton, Ga. The facility will utilize 100% renewable electricity, bringing us closer to achieving Carbon Zero by 2025. We also laid the groundwork to target our supply chain emissions by launching Southwire’s first Scope 3 emissions reduction goal.
Driving these initiatives was our dedicated team, which we expanded by nearly 18%. This highlighted the importance of strengthening our ONE Southwire culture so we can continue to attract, engage and advance diverse talent to support our rapid growth. To set a high bar for our company and industry, we’ve increased visibility around our diversity, equity and inclusion (DEI) initiatives. You can learn more about our efforts on our new DEI website, and in our inaugural DEI report. At this critical stage in our evolution, we remain anchored by our vision and core tenets: We Deliver Power…Responsibly® by Growing Green, Living Well, Giving Back, Doing Right and Building Worth. The actions we take today will shape the reality of future generations. That’s why we’re committed to living up to our company’s values and aligning our efforts with the universal principles of the United Nations Global Compact (UNGC).
“At this critical stage in our evolution, we remain anchored by our vision and core tenets: We Deliver Power… Responsibly® by Growing Green, Living Well, Giving Back, Doing Right and Building Worth.”
This is a unique moment for Southwire to stand tall as an industry leader. We will use this momentum to continue powering transformation — with an aim to make Southwire generationally sustainable for the next 100 years and beyond.
Rich Stinson, President and CEO
Burt M. Fealing, EVP, General Counsel and Chief Sustainability Officer