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
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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