Continuing our Commitment

Continuing our Commitment

Fiscal year 2023 was a turning point for Carpenter Technology in our recovery from the economic impact of the pandemic. In May of 2023, we held an investor day that detailed our plans to double our pre-pandemic operating income by fiscal year 2027. And in the fourth quarter of fiscal year 2023, we returned to our 2019 profitability on a run-rate basis, an important milestone on our journey. We are in a unique position to realize our goal, with strong demand for our portfolio of solutions and the unique assets and capabilities to provide them.

Even as we ramped up production over the last year, we continued to advance our sustainability efforts. We saw our CO₂ emissions intensity decrease by more than 20%. We set goals for energy and water use reduction, further eliminating waste and improving the efficiency of our operations. We completed ISO14001 certification for four major production facilities, representing over 90% of our business. We continue to set new goals that align with our culture of continuous improvement. 

It's an exciting time at Carpenter Technology. Macro trends, including the focus on sustainability, are driving increased demand across our end-use markets for our broad portfolio of specialized solutions. We have leading capabilities with a difficult-to-replicate system of assets that are more environmentally sustainable than most other metal manufacturers. As a result, we are well-positioned to achieve our long-term growth goals, while advancing our sustainability efforts.

Read more about our journey in the 2023 Sustainability Report. 


Tony R. Thene
President & Chief Executive Officer

Download the

2023 SUSTAINABILITY REPORT Download Arrow - black


What's New for 2023

  1. Established environmental targets to protect the environment and minimize our impact:

    • Reduce water withdrawal intensity by 5% by 2035 through various efforts, including increased water recycling and reuse in our production processes.

    • Reduce energy intensity by 5% by 2035 through process improvements and ancillary equipment upgrades.


  2. Disclosed our human rights management and mitigation strategies. 

  3. Completed ISO14001 Certification for our facilities in Clearwater, FL; Hartsville, SC; Orwigsburg, PA, and Washington, PA, bringing the total facilities under certification to nine.

  4. Ranked on Forbes America's Most Cybersecure Companies List.  

Our Sustainability Strategy

Carpenter Technology’s sustainability strategy focuses on four areas of our operations: environmental stewardship, the health and safety of our employees and community, social responsibility, and corporate governance. We will face the challenges ahead by relying on our Vision and partnering with our customers to solve their most challenging material problems. We aim to achieve our goals as we always do, by living up to our Core Values.  

Sustainable Solutions

Sustainability is part of our business strategy and an opportunity for future growth. As a solutions provider, we enable our customers to meet their sustainability needs with our innovative products.

To learn more about how our innovative products support our customers, see the Sustainable Solutions section.


Sustainable Operations

Our operations are more environmentally sustainable compared to many global metal manufacturers, with a fraction of CO2 emissions from crude steel production. 

Read about our sustainable operations in the Environmental Stewardship section.

Safety: Our #1 Core Value

We are one of the safest industrial manufacturing companies in the United States: our Total Recordable Incident Rate (TRIR) was 1.7 in FY23, far below industry rates.

Learn about our Safety approach in the Safety section.


Social Responsibility

We are committed to creating an inclusive workplace for our employees and serving the communities in which we live and work. 

Read about our socially responsible initiatives in our Social Responsibility section.

Group 1012

Materiality Matrix 

Our ESG Program highlights our commitment to each of these areas and continued focus on world-class social responsibility.
  • Energy management
  • Greenhouse gas emissions
  • Air emissions
  • Waste management
  • Water management
  • Renewable energy
  • Sustainable sourcing
  • Product safety and impact
  • Employee safety
  • Contractor safety
  • Diversity, equity, and inclusion
  • Human capital management
  • Community engagement
  • Board composition and ESG management
  • ESG governance and oversight
  • Ethics and compliance
we're dedicated to building a better future

We’re dedicated to building a better future