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Keith Woodward Senior VP, CFO 763-540-1205 701 N. Lilac Drive
Minneapolis, MN 55422
William Prate Director, Investor Relations 763-540-1547

Press Release Details

Tennant Company Sets New Science-Based Greenhouse Gas Reduction Targets as Part of the Science Based Targets Initiative

Apr. 17, 2018

MINNEAPOLIS--(BUSINESS WIRE)-- Tennant Company (“Tennant”) (NYSE: TNC), a world leader in designing, manufacturing and marketing cleaning products and solutions for maintaining surfaces in industrial, commercial and outdoor environments, today announces new greenhouse gas (GHG) emission reduction targets in line with climate science as part of the Science Based Targets initiative (SBTi).

Tennant Company joins more than 100 of the world’s largest companies who have set science-based targets. SBTi helps companies determine a pathway for reducing their emissions in line with the Paris Agreement’s goal of limiting global warming to well below 2 degrees Celsius above pre-industrial levels.

Key elements of Tennant Company’s new targets include:

  • reduce absolute scope 1 and 2 emissions 25% by 2030 from a 2016 base year
  • reduce scope 3 use of sold products emissions 50% per U.S. dollar of equipment revenue by 2030 from a 2016 base year

Scope 1 emissions are directly created by a company’s facilities or use of vehicles. Scope 2 emissions are created from purchased electricity, steam, heating and cooling.

Scope 3 emissions include those that result from the use of Tennant products by our customers. The use of sold products category accounts for a substantial portion of Tennant Company’s total GHG footprint. According to Tennant Company’s Director of Sustainable Enterprise Pete Swenson, “An ambitious use of sold products target is critical to driving technology and product innovation. By reducing the environmental impact of our products, we help customers reduce their environmental footprints. Eco-advantaged products like ec-H2O NanoClean®, IRIS® and Orbio® have been major contributors to long-term business growth and profitability, proving that sustainability creates customer and shareholder value.”

According to Tennant Company’s President and CEO Chris Killingstad, “Tennant Company has long held a commitment to operating our business as a Sustainable Enterprise and delivering sustainable solutions to our customers. By leveraging the efforts and support of SBTi to set new and ambitious targets, we continue our endeavor to reduce GHG emissions and help advance the transition to a low-carbon economy.”

Cynthia Cummis, Deputy Director of GHG Protocol at World Resources Institute, one of the Science Based Targets initiative partners, added: “We congratulate Tennant Company for setting a science-based target, aligning their business strategy with the Paris Agreement. It’s particularly encouraging to see them incorporating the use of their products into their climate strategy, helping customers to reduce emissions in their businesses. This illustrates how powerful global companies like Tennant Company can be in leading the low-carbon transition.”

To see a world map of companies with approved science-based targets, please visit: www.sciencebasedtargets.org/approved-targets-map.

Tennant Company Profile
Founded in 1870, Tennant Company (TNC), headquartered in Minneapolis, Minnesota, is a world leader in designing, manufacturing and marketing solutions that empower customers to achieve quality cleaning performance, reduce their environmental impact and help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; cleaning tools and supplies; and coatings for protecting, repairing and upgrading surfaces. Tennant's global field service network is the most extensive in the industry. Tennant Company had sales of $1.0 billion in 2017 and has approximately 4,300 employees. Tennant has manufacturing operations throughout the world; and sells products directly in 15 countries and through distributors in more than 100 countries. For more information, visit www.tennantco.com and www.ipcworldwide.com. The Tennant Company logo and other trademarks designated with the symbol “®” are trademarks of Tennant Company registered in the United States and/or other countries.

Source: Tennant Company

Tennant Company

Investor Contact:

Tom Paulson, 763-540-1204

Senior Vice President and Chief Financial Officer

tom.paulson@tennantco.com

or

Media Contact:

Kathryn Lovik, 763-540-1212

Global Communications Director

kathryn.lovik@tennantco.com

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