Cintas Recognized for Environmental Efforts
Cintas Corporation has been included on the FTSE4Good Index. Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indexes are used by a wide variety of market participants to create and assess responsible investment funds and other products.
FTSE Russell evaluations are based on performance in areas such as Corporate Governance, Health & Safety, Anti-Corruption and Climate Change. Businesses included in the FTSE4Good Index Series meet a variety of environmental, social and governance criteria.
“With our company’s deep history rooted in sustainable practices, we’re proud to be recognized by FTSE Russell with inclusion on their FTSE4Good Index,” says Mike Hansen, Cintas executive vice president and chief financial officer. “We hope this further demonstrates the tremendous value we create for our shareholders, customers and employee-partners as we focus on conducting our business the right way.”
“Our inclusion on the FTSE4Good Index is certainly a welcome acknowledgement of our ongoing efforts to operate our business in a sustainable, ethical manner,” says Christy Nageleisen, Cintas vice president of ESG and Chief Compliance Officer. “We’re just getting started on our formal ESG Journey, and gaining recognition for the work and accomplishments we’ve made to date is motivation to continue our work as we strive for greater positive impacts in environmental, social and governance areas.”
In its most recent evaluation, Cintas rated above the average of its peers in FTSE Russell’s Business Support Services industry subsector for ESG Rating, Environment, Social and Governance, and was substantially higher than the average for the companies included in FTSE Russell’s broader Industrials industry in all four categories. Further, Cintas earned FTSE’s highest score for governance.
Cintas was rated especially high against the Business Support Services subindustry in managing climate change, water security, health & safety, social supply chain and anti-corruption issues.
ESG at Cintas
Cintas’ sustainable business model has underpinned the company’s growth strategy and imparted a holistic “Reduce, Reuse, Recycle” mentality throughout the company’s operations.
This approach dates back to the company’s origins almost 100 years ago during the Great Depression. Out-of-work circus performers Doc and Amelia Farmer went around to Cincinnati-area businesses and collected their dirty, discarded shop rags from their trash bins, and brought the dirty rags home to launder them. When the rags were clean, Doc and Amelia then sold them back to area businesses, thereby extending their useful lives and reducing companies’ ongoing need to replace their discarded rags with brand-new rags.
Since then, the company has grown and expanded business operations to include uniform and apparel rental programs, facility services, first aid and safety products and services, and fire protection services.
Cintas’ cultural focus on its Principal Objective, its Corporate Character and Management Systems – defined by Founder Dick Farmer in his book, “Spirit is the Difference” – has resulted in ESG-centric business practices embedded holistically into Cintas’ operations from its start.
To learn more about Cintas’ ESG program, including its most recent reporting, click here.