Generac Holdings Inc.
GNRC.US | Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus
Generac Holdings Inc. is a leading global designer and manufacturer of a wide range of power products and energy solutions. The company's offerings include generators (portable, residential, commercial, and industrial), power washers, light towers, and other engine-powered equipment. Generac also pr...Show More
Better Health for All
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Generac Holdings Inc. received an award of up to $200 million to supply renewable power
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, including solar and battery storage systems, to support public health infrastructure for vulnerable residents in Puerto Rico
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.
Fair Money & Economic Opportunity
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Generac Holdings Inc. is a manufacturer of power products and energy solutions, not a financial institution that lends, insures, moves, or stores money. Therefore, the ethical value 'Fair Money & Economic Opportunity' and its associated KPIs, which are designed to assess financial services, are not applicable to Generac's core business. The company does not offer consumer lending or deposit services, nor does it generate revenue from high-cost financial products. While Generac engages in community support, supplier diversity, and programs like the Puerto Rico solar initiative targeting vulnerable households, these activities do not fall under the rubric's specific definitions for financial inclusion, wealth-building outcomes, or financial literacy initiatives related to financial products.
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Fair Pay & Worker Respect
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The CEO-to-median employee pay ratio for Generac Holdings Inc. was 122:1 in fiscal year 2024, based on a median employee pay of $76,612.
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This ratio is lower than the 2023 average of 268:1 for S&P 500 companies.
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Employee engagement in Jefferson, WI, was rated 2.2 out of 5 stars (44/100).
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A labor violation incident was reported in January 2021 where an employee, hired with benefits, was allegedly told by HR to work while sick with COVID-19, conceal the positive test, and was off work for 21 days without pay.
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Employee reviews from 2018 and 2023 indicate a high turnover rate in both office and production, with one employee reporting seven bosses in three years.
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Qualitative feedback also points to issues with management, a toxic work environment, and low pay for work complexity.
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Generac has policies prohibiting harassment, forced labor, child labor, and discrimination, and commits to providing a minimum living wage by complying with applicable requirements.
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The company also acknowledges the existence of collective bargaining agreements.
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Fair Trade & Ethical Sourcing
0
Generac Holdings Inc. released its 2023 Conflict Minerals Report on May 22, 2023, detailing efforts to ensure ethical sourcing of tin, tantalum, tungsten, and gold (3TG).
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The company identified 691 smelters in its supply chain
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, with three certified by the Responsible Minerals Initiative.
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Generac is committed to enhancing procedures for soliciting supply chain information and engaging with suppliers to improve survey participation, and participates in the Responsible Business Alliance to support conflict-free smelter certification. The company's Code of Ethics and Business Conduct emphasizes compliance with international and national laws concerning fair trade and ethical sourcing
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, and it provides a Corporate Governance Helpline for reporting ethical concerns.
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Honest & Fair Business
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No evidence available to assess Generac Holdings Inc on Honest & Fair Business.
Kind to Animals
0
The provided articles, including Generac's Supplier Code of Conduct & Sustainable Procurement Policy and ESG/Sustainability Reports, do not contain any specific information or data points relevant to the 'Kind to Animals' ethical value. There is no mention of cruelty-free certifications, animal testing, humane certifications for operations, wildlife conservation impact, ethical sourcing of animal-derived inputs, supplier audits for animal welfare, cage-free sourcing, animal agriculture ethics, or investment in animal-free alternatives or collaborations.
No War, No Weapons
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Generac supplies equipment such as light towers and generators to U.S. federal agencies and military branches for recovery efforts and critical operations
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, but these contracts do not involve weapon production
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. The company recognizes the importance of human rights philosophies expressed in global frameworks, such as the UN’s Universal Declaration of Human Rights and the OECD guidelines for multinational enterprises
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. Its conflict minerals due diligence framework is designed to be consistent with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas
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. Generac suspended sales and operations in Russia in March 2022 in response to geopolitical tensions
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.
Planet-Friendly Business
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Generac is involved in initiatives addressing climate impacts on vulnerable communities. In November 2023, the company was selected to participate in a $440 million U.S. Department of Energy investment to install rooftop solar and battery storage systems in Puerto Rico
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, specifically aimed at decreasing energy burdens for low-income residents
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.
Respect for Cultures & Communities
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Generac partnered with Sunnova Energy and Empowered by Light to provide a solar and battery storage system to the Hard Rock Chapter House in the Navajo Nation
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. The Generac Foundation focuses its giving on community development, education, responders, and sustainability
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. Additionally, Generac was awarded up to $200 million by the U.S. Department of Energy to install residential solar and battery storage systems in low-income communities in Puerto Rico
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, an initiative intended to support local economies and job creation
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.
Safe & Smart Tech
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Generac has no documented data breaches or incidents of unauthorized data use.
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The company's AI strategy focuses on ethical considerations, responsible use, and adherence to industry standards.
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Generac is ensuring compliance with ISO27001
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and preparing for external audits or other applicable certification assessments.
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Furthermore, the company has experience working within a multi-framework compliance program, including ISO27001, NIST, SOC 2, PCI, and GDPR
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, and monitors developments in privacy regulations.
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Zero Waste & Sustainable Products
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No specific, quantitative evidence was found in the provided articles for any of the KPIs related to Zero Waste & Sustainable Products. The articles discuss Generac's focus on sustainable energy solutions
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, low-emission products
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, and investments in related technologies
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, which primarily address operational environmental impacts like fuel consumption
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and emissions
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, rather than waste management, product recyclability, packaging sustainability, or circular design principles.