nVent Products and Solutions Contributing to a More Sustainable Future
nVent's 2022 Environmental, Social and Governance (ESG) Products pillar vision is: Innovative solutions that deliver efficiency, safety and reduced resource consumption, creating a more sustainable future.
“As the world continues to electrify, nVent is well positioned to make a positive impact through our products and solutions,” said Executive Vice President and Chief Technology Officer Aravind Padmanabhan. “Driving sustainability and safety is a critical part of who we are as a company, and we keep that goal front and center as we continue to innovate for our customers.”
The development of ESG-positive products at nVent is guided by our three ESG Products focus areas – Eco-Friendly Materials, Eco-Friendly Designs, and End-User Safety. These three categories were established in 2021 to set the framework for how we contribute to a safer and more sustainable world.
Eco-Friendly Materials
We strive to use eco-friendly materials that are made with biodegradable, recyclable or reusable content. This includes materials that contain fewer restricted chemicals and scarce raw materials where possible. These efforts also include using recyclable and reusable packaging, using materials with the maximum possible recycled content included, using fewer restricted chemicals and materials, and selecting materials with a longer lifespan.
Eco-Friendly Designs
We pursue eco-friendly designs with lower environmental impact by extending product serviceable lifespan, improving energy efficiency and reduced demand for raw materials. We aim to design products that reduce carbon footprint and increase efficiency through remote access technology, reduce landfill disposal through reuse, improve product and customer end-use energy efficiency, and utilize minimal and recyclable packaging.
End-User Safety
We develop solutions that are easy to use, improve end-user safety and experience and help our customers improve the safety of their operations. End-User Safety may include promoting easier handling and transportation, enabling lower risk installation methods, keeping critical infrastructure operational during emergencies and designing for toolless or reduced tool installation.
In 2021, nVent set long-term Products goals focused on developing products and solutions with a positive ESG impact. We continue to operationalize our strategy and progress toward our long-term goals.
Our New Product Introduction (NPI) process at nVent includes a scoring system with clear definitions, guidelines and procedures which drive investment in sustainable innovation. We use a variety of stakeholder engagement methods to gather input from key audiences about our products. In 2022, 76% of nVent’s new products in our active NPI funnel had a positive ESG impact. This percentage represents products that contributed to at least one of the three Products focus areas. We continue to increase awareness and expectations for developing products and solutions that make a positive impact.
We have also begun to explore product life cycle assessments. This includes the process of evaluating the potential environmental impacts associated with all stages of a product’s life. Since environmental product declarations are becoming more important to our customers and stakeholders, we are evaluating our approach to align with best practices to integrate into our product strategy. In 2023, we plan to partner with our customers and distribution channels to identify opportunities for reusable packaging and contribute to a more circular economy.