2022 Sustainability Report
OPERATING TO A HIGHER STANDARD 
	 TO BUILD A BETTER WORLD

TABLE OF CONTENTS
CEO LETTER 	
2
ABOUT LINCOLN ELECTRIC   	
4
ESG MANAGEMENT & OVERSIGHT	
8
CUSTOMER FOCUSED	
12
SOLUTIONS & VALUE	
17
OPERATIONAL EXCELLENCE	
23
EMPLOYEE DEVELOPMENT & ENGAGEMENT	
36
CORPORATE GOVERNANCE	
51
SUSTAINABILITY PERFORMANCE SUMMARY	
54
2025 STRATEGY PEAKS
2022 Sustainability Report  1

CEO LETTER
At Lincoln Electric, our purpose is to “Operate By 
a Higher Standard to Build a Better World.” Since 
1895, we have measured our success by consis-
tently innovating solutions that deliver value to 
customers, supporting an engaged workforce, 
nurturing a culture rooted in integrity and ethics, 
and advancing operational excellence in our 
operations. These are the long-term drivers of 
our success, which align with our stakeholders’ 
environmental, social, and governance priorities, 
and generate superior value through the cycle.
We have purposefully integrated sustainability 
into our Higher Standard 2025 Strategy across its 
four strategic peaks. In addition to Higher Stan-
dard financial targets, we established a series 
of key ESG-related goals that we identified as 
critical to operating responsibly. These include 
improved safety performance and addressing 
climate change through reductions in green-
house gas emissions, energy, water and waste.
We are also focused on engineering innovative 
solutions to support the end markets we serve as 
they transition to a low carbon economy. Our pat-
ented solutions that optimize EV battery tray and 
wind tower fabrication are helping customers 
accelerate productivity responsibly. In 2022, we:  
• Broadened the accessibility of automation to 
small fabricators with our proprietary Cooper™ 
cobot solution with its unique easy user inter-
face designed for non-welders. 
• Extended our automation engineering 
capabilities and international presence to 
support the growth of EV production platforms 
through the acquisition of Fori Automation, 
a leading designer and manufacturer of 
complex, multi-armed automated welding 
systems, with an extensive range of automated 
assembly systems, automated material 
handling solutions, automated large-scale, 
industrial automated guidance vehicles (AGVs), 
and end-of-line testing systems. These new 
capabilities, combined with our existing skill 
set, allows us to provide more solutions to our 
customers for safe, efficient, and sustainable 
manufacturing.
• Announced our 150kW DC fast charger 
initiative to provide best-in-class level 3 
charging for electric vehicles. This growth 
initiative targets production of our new 
Velion™ EV charger in the fourth quarter of 
2023 to provide both public and private fleet 
charging, serving the electrification needs of 
our customers and communities.
Chris Mapes 
Chairman, President & CEO
2022 Sustainability Report  2
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Employee Development & Engagement

• We continue to focus on improving the energy 
efficiency of our equipment, increasing recycled 
content in our products and packaging, 
and working with partners and suppliers to 
identify additional areas to introduce greater 
sustainability into our solutions and operations 
to lower our overall carbon footprint.
In 2022, we committed to our first company-wide 
Sustainability Materiality Assessment, which takes 
into account the input of multiple stakeholders 
and maps the areas of highest importance to these 
stakeholders. The results of this assessment 
will be used to direct future reporting and 
investments in the area of sustainability.
We also remained focused on improving 
employee safety and well being, and driving 
employee engagement and development as part 
of our tradition of promoting from within to offer 
our employees a long and rich career at Lincoln 
Electric. In 2022, we expanded our training and 
development resources to include TalentLaunch. 
In line with our Higher Standard 2025 strategy, 
and as an output from our 2021 employee survey, 
we identified the need for focused, early-career 
talent development. TalentLaunch is our new 
global, two-year, blended learning journey for this 
emerging talent.
I encourage you to learn more about the values, 
culture, policies, and initiatives that define our 
global organization’s, long-term success and 
sustainability journey.
Chris Mapes 
Chairman, President & CEO
Areas of Innovation That Address Customers’ Operational Challenges
Expand capacity 
despite labor 
shortages
Improve speed 
and productivity
Quality 
assurance to 
reduce costs
Efficient 
procurement
Improve 
sustainable 
operations
Transition to 
stronger and 
lighter metals
Improve  
safety
Train the 
industry
2022 Sustainability Report  3
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Employee Development & Engagement

John C. Lincoln 
Co-Founder & Chairman 
1895 to 1929
James F. Lincoln 
Co-Founder & Chairman  
1929 to 1965
At Lincoln Electric, we operate to a higher standard to build a better world. We are the world leader in the 
design, development, and manufacture of arc welding products, automated joining, assembly and cutting 
systems, as well as plasma and oxyfuel cutting equipment. We are also positioned as a global leader in 
brazing and soldering alloys. 
We are recognized as The Welding Experts® for our leading material science, software development, 
automation engineering, and application expertise, which advance customers’ fabrication capabilities. We 
leverage these strengths, our global presence, and a broad distribution network to serve customers across 
end markets including:
General metal 
fabrication
Energy projects, including 
renewable infrastructure 
like wind turbines
Structural steel construction 
and infrastructure (commercial 
buildings and bridges)
Heavy industries, like agriculture, 
mining, construction, rail equipment, 
and shipbuilding
Automotive and 
transportation
ABOUT LINCOLN ELECTRIC
2022 Sustainability Report  4
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Employee Development & Engagement

OUR OPERATIONS
71
manufacturing  
locations in  
20 countries
$3.8 B
in sales during 
FY2022
Headquartered in 
Cleveland, Ohio 
USA
2022 Sustainability Report  5
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Employee Development & Engagement

2025 HIGHER STANDARD STRATEGY
CUSTOMER FOCUSED
Enhance our value proposition and ease of 
doing business with us by leveraging our 
CRM system and investments in 
industry-segment market facing teams, 
product portfolios and weld tech centers.
SOLUTIONS & VALUE
Develop solutions that improve customers’ 
ability to make their products better, safer, and 
easier. Key initiatives include accelerating 
growth in automated solutions and additive 
services, enhanced software (IoT and AI), and 
designing greater eﬃciency and sustainability 
into new products.
OPERATIONAL EXCELLENCE
Improve our quality, costs, and processes by 
maximizing continuous improvement through 
our Lincoln Electric Business System, further 
digitization of our operations and processes, 
and achievement of our sustainability goals.
EMPLOYEE DEVELOPMENT
Improve opportunities for our employees to 
learn and grow through new development 
programs, resource groups, engagement 
initiatives, and enhanced HR systems and tools.
Launched in 2019, our Higher Standard 2025 
Strategy (“2025 Strategy”) focuses on delivering 
superior value to all stakeholders by achieving 
best-in-class operational, financial, and sustain-
ability performance, and by amplifying employee 
engagement and development in the 2020 to 2025 
strategic period.
Enhancing our performance in four key  
areas—represented by four peaks in our strat-
egy logo—is critical to our long-term success. 
Our industry leadership position reflects our 
“customer first” approach and our track record 
of developing innovative solutions that have 
a measurable impact on their operations. Our 
employees are our number one asset, and 
the professional training and career planning 
services we provide help maximize employee 
potential and engagement. Operating smartly 
and responsibly is not only an obligation but a 
key competitive advantage.
This report highlights the initiatives, goals, and 
actions we have taken to address sustainability 
in each of the 2025 Strategy’s four peaks. Through 
this strategy, we aim to build value for our 
stakeholders and drive alignment with our oper-
ations, products, and ESG-related initiatives. To 
learn more about the financial goals of our 2025 
Strategy, please refer to our 2022 Annual Report.
2022 Sustainability Report  6
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Employee Development & Engagement

2022 SUSTAINABILITY HIGHLIGHTS
SAFETY 
2025 Goal: 52% Reduction in  
Total Recordable Case Rate (TRCR) 
15.8% Reduction 
(2022 vs 2018)
GHG EMISSIONS 
2025 Goal: 10% Reduction in
Scope 1 and 2 GHG emissions
18.9% Reduction 
(2022 vs 2018)
ENERGY INTENSITY1 
2025 Goal: 16% Reduction
1% Reduction 
(2022 vs 2018)
RECYCLING 
2025 Goal: 80% Rate
75.9% in 2022  
 
LANDFILL AVOIDANCE 
2025 Goal: 97% Rate
95.2% in 2022 
WATER USAGE 
2025 Goal: 14% Reduction
25% Reduction 
(2022 vs 2018)
All trademarks and registered trademarks are the property of their respective owners
1 Energy intensity is total energy consumption per total labor hours worked.
2022 Sustainability Report  7
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Employee Development & Engagement

ESG MANAGEMENT  
& OVERSIGHT
2022 Sustainability Report  8

BOARD OVERSIGHT
BOARD OVERSIGHT 
Chairman and CEO
EVP, General Counsel & Secretary
ESG  Disclosure Committee
ESG Executive Leadership Committee
VP, EHS&S
Sustainability Manager
Our Board of Directors recognizes the importance 
of aligning our goals, including those related 
to sustainability, with the interests of our key 
stakeholders. The Board’s oversight responsibility 
for Environmental, Social, and Governance (ESG) 
matters is reflected in our Governance Guidelines 
and includes reviewing progress toward our long-
term safety and sustainability metrics and other 
sustainability initiatives. Safety and sustainability 
goals are also incorporated into the annual 
performance goals of the CEO and other executives.
Our robust enterprise risk management (ERM) 
program includes aspects of sustainability and 
ESG. Our ERM process assesses critical risks and 
the Board provides oversight as management 
addresses these risks. An internal corporate 
risk committee, composed of members of our 
business units and various functional leaders 
is led by our Vice President of Enterprise Risk 
Management. High-priority topics facing 
the organization are identified each year and 
assigned to be reviewed with either the full Board 
or various Board Committees as appropriate. 
ESG, information security, and cybersecurity are 
currently considered high-priority issues, and the 
Audit Committee receives related updates on an 
as-needed basis. 
ESG Executive Leadership Committee 
Our Management Committee sets the Company’s 
sustainability strategy. Led by our CEO, the 
committee includes the Company’s top 
executives, as well as business segment and 
functional leaders.
Our ESG Executive Leadership Committee ensures 
that the Management Committee recognizes the 
ESG factors that could impact the business and 
oversees implementation of the sustainability 
strategy. Senior leaders from EHS & Sustainability, 
Finance, Human Resources, Investor Relations, 
Financial Reporting, Risk Management, Legal and 
Compliance, and our business segments comprise 
the committee. This cross-functional team ensures 
that we have the engagement and alignment 
needed between business units, regions, and 
functional areas within the business to execute 
our ESG initiatives and projects.
Lincoln Electric’s Executive Vice President, 
General Counsel & Secretary, is the executive 
sponsor for our ESG Executive Leadership 
Committee. Our Vice President, Environmental, 
Health, Safety & Sustainability, leads the ESG 
Executive Leadership Committee and manages 
sustainability strategy execution, metrics 
tracking, and reporting. Two additional internal 
ESG-related committees further support the ESG 
Executive Leadership Committee:
• Product Sustainability Committee: drives 
actions in the areas of sustainable procurement, 
product lifecycle assessment, and eco-design
• ESG Disclosure Committee: ensures that robust 
processes and systems are in place to support 
public disclosures and reporting
Product Sustainability Committee
2022 Sustainability Report  9
ESG Management & Oversight
Introduction
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Employee Development & Engagement

STAKEHOLDER ENGAGEMENT 
Employees 
Our employees represent the foundation of 
our great Company and our future success. We 
engage employees through regular meetings, 
intranet platforms, employee engagement surveys, 
employee resource groups, health and safety 
communications and initiatives, training and 
development, employee wellness and assistance 
programs, and an ethics hotline. 
Community 
We are active members in the communities 
where we live and work. We participate in 
community meetings and local business 
associations; host plant visits; provide grants to 
nonprofit organizations; and donate resources and 
time through in-kind gifts, employee volunteerism, 
and nonprofit Board service.
Industry Associations & Officials 
We actively engage with industry and trade 
associations, academic and research partners, 
and with government agencies to participate 
in initiatives to advance innovation and safety 
in our industry, contribute to evolving codes 
and standards, as well as benefit from in-depth 
reviews of emerging issues and opportunities, 
shifts in industry-specific trends, technologies, and 
regulations.
Customers 
We serve a diverse global customer base, 
including industrial gas distributors, 
manufacturers across an array of industries, 
engineering firms, metal fabrication shops, 
wholesalers, retailers, educational institutions, 
and students. We engage customers through 
one-on-one discussions, joint development 
projects, our global network of forty-one (41) 
Application Resource Center locations, industry 
trade shows, surveys, seminars, and various 
media and social media channels.
Investment Community 
We maintain active dialogue with our 
shareholders, analysts, and prospective investors 
through an investor relations program that 
includes regular financial filings, meetings 
(equity and ESG-focused), conferences, non-deal 
roadshows, an annual shareholder meeting, 
tradeshow tours, periodic surveys, and investor 
relations, and sustainability websites. Our 
General Counsel, VP Investor Relations, and VP 
Environmental, Health, Safety & Sustainability 
conduct annual briefings with our largest 
shareholders on ESG topics.
Suppliers 
 We engage with suppliers during the supplier 
development process and at conferences and 
associations. We work together to ensure ethical, 
safe, sustainable practices and compliance in our 
supply chain.
Key internal and external stakeholder groups inform our prioritization and 
approach to ESG topics. Our primary stakeholders include:  
Assessing Key Stakeholder Priorities 
In an effort to better understand, and respond to stakeholder 
concerns, in 2023 Lincoln Electric is performing a materiality 
assessment in partnership with a leading firm specializing 
in peer benchmarking, tracking of existing and upcoming 
regulatory policy, and mining the data presented in 
sustainability publications.
Lincoln Electric’s Materiality Assessment will include:
• Assessment of the priorities of a broad landscape of external 
stakeholders on more than 30 sustainability topic areas via 
monitoring of disclosures in news/media, corporate reports and 
public policy/legislation.
• Direct survey input from key employees and customers
Investing in Additional ESG Expertise
In 2022, we began a consultation relationship with Business for 
Social Responsibility® (BSR®) —  a sustainable business network 
and consultancy focused on creating a world in which all people 
can thrive on a healthy planet. Through their insights, advisory 
services, and collaborations, they enable business transformation 
to create long-term value for business and society. 
BSR and Business for Social Responsibility are registered trademarks of Business for Social Responsibility Corp.
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
ESG Management & Oversight
Introduction
Employee Development & Engagement
2022 Sustainability Report  10

UNITED NATIONS SDG’S
In support of the United Nations 2030 Agenda for Sustainable Development, and as part of our 2025 Higher Standard Strategy, we integrate sustainability into our 
operations, product, and community engagement initiatives. The table below illustrates how our efforts align with the UN Sustainable Development Goals (SDGs):
2025 Higher Standard Strategy Goals 
UN SDG
Customer Focus
Invest in our network of 41 international Application Resource Center (ARC) locations, which provide an interactive educational and collaborative space to showcase Lincoln Electric’s unique 
solutions and application expertise to help customer’s drive greater operational excellence in their fabrication processes.
Mature a global customer relationship management platform with enhanced account data, functionality, and solution information to make it easier for customers to do business with us.
Solutions & Value
Invest approximately 2% of our revenue in research and development (R&D), including investments in new solutions and engineering expertise to support the infrastructure and energy end 
markets—like our automated 3D plasma and welding solutions for structural steel fabrication; our HyperFill® solution for more efficient production of earth-moving/construction equipment; 
and our Long Stick Out (LSO) solution for wind turbine fabrication.
Maintain a leading new product Vitality Index score, which is a measure of our innovation and commercial success—calculated as the percentage of annual sales from new products launched 
within the last five years. In 2022, our Vitality Index was 37% for total sales and 57% for equipment.
 Employee Development & Engagement
Work toward greater gender parity and ethnic diversity in our workforce. As of 2022, 21% of our global workforce identifies as female, and three of our 10 Board directors are women.
 
Introduce career development opportunities by offering an industry-leading tuition reimbursement program with a new $125,000 student loan forgiveness option (US only).
 
Continue to support our communities through philanthropy, led by grants, scholarships and a U.S. matching program provided by the Lincoln Electric Foundation, as well as in-kind gifts 
provided by Lincoln Electric businesses globally. Our Foundation giving themes center  on alleviating poverty and illness, promoting access to education with emphasis on STEM, supporting 
health and human services, and bringing cultural vibrancy to our communities.
 
 
Operational Excellence
Prioritizing the health and safety of our workforce and communities by reaching a 52% reduction in safety incidents by 2025 (vs. 2018 baseline).
Reducing water consumption across our operations by 14% by 2025 (vs. 2018 baseline).
Making significant waste reductions across our operations and achieving a recycling rate of 80% and a landfill avoidance rate of 97% by 2025.
Reducing our greenhouse gas emissions by 10% by 2025 (vs. 2018 baseline). Reducing our energy intensity by 16% by 2025 (vs. 2018 baseline).
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
ESG Management & Oversight
Introduction
Employee Development & Engagement
2022 Sustainability Report  11

CUSTOMER  
FOCUSED
2022 Sustainability Report  12

CREATING VALUE
41
ARC locations 
worldwide 
We aim to bring value, service, and reliable solutions to our customers by leveraging our 
experience, global presence, and broad distribution network to serve customers across various 
end markets, including general metal fabrication, energy, construction, infrastructure, heavy 
industry, and automotive/transportation. We provide training and product testing opportunities 
worldwide for customers to access the latest welding technology.
We have a long history of partnering with customers and supplying solutions that support the clean 
energy transition. The rapidly growing markets of energy and infrastructure represent a valuable 
opportunity to collaborate with the broader industry to address global issues like climate change. Our 
global Application Resource Center (ARC) locations ensure Lincoln Electric is aligned with the evolving 
technology and fabrication needs of each end market and can be their “partner of choice” to help them 
achieve their sustainability goals
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Customer Focused
Employee Development & Engagement
2022 Sustainability Report  13

welding education. ARC locations are staffed with 
engineers and technicians who develop solutions, 
consult, and provide support based on unique 
customer requirements.  These local ARC teams 
are leading the way to help build the factories of 
the future.  
In 2022, one of the largest new offshore wind 
factory owners located in the Asia-Pacific region 
(S. Korea) utilized the expertise of the staff and 
facilities of 4 different ARC sites, located in Asia 
and Europe. The company worked with our 
experts to optimize welding productivity and help 
overcome a variety of fabrication challenges.
Utilizing our industry leading, productivity-
maximizing process solutions, the end user will 
realize higher numbers of wind tower foundations 
shipped, resulting in increased capacity for clean 
energy generation.  The work done by our global 
ARC and commercial teams is leading the way 
towards higher installed capacity for fixed and 
eventually floating foundations. Teamwork here is 
complemented by long standing relationships with 
key automation global partners.
Increasing the speed of renewable energy installed 
capacity (offshore and onshore) benefits the 
broader industry, shared environmental targets, 
and our own global (company) sustainability 
targets, and demonstrates our ongoing 
commitment to build a better world.
Optimizing Offshore Wind Tower Construction 
Achieving lofty renewable energy ambitions 
require reducing project construction time, 
complexity, and materials required to fabricate 
offshore foundations and towers. Welding is 
key to the supply chain and overall success of 
the industry. Lincoln Electric is helping to build 
the industry of the future with the latest long 
stick-out (LSO) submerged arc and HyperFill® flux 
cored equipment and consumable solutions — 
productivity solutions which are being integrated 
into new and existing manufacturing capacity.   
Our expertise helps guide customers through 
the complex trials and testing required to 
implement these productivity solutions based on 
the required application and tonnage needed to 
meet the rising demand. 
Key to this effort are 41 Application Resource 
Center (ARC) locations operated worldwide 
to facilitate the most efficient and productive 
ways for customers to use our solutions tailored 
to their operations. Each ARC location offers 
training, product demonstrations, and procedure 
development capabilities that showcase our latest 
technologies in welding, cutting, automation, and 
ADVANCING INNOVATION  
WITH ARC LOCATIONS 
™
“In the International Renewable Energy Agency 
(IRENA) and International Energy Agency (IEA) 
roadmaps for a 1.5°C pathway published last year, 
wind energy becomes a central pillar of the global 
energy system by 2050.”
—Global Wind Energy Council Global Wind Report 2022
Corporate member of  
Global Wind Energy Council
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Customer Focused
Employee Development & Engagement
2022 Sustainability Report  14

Lincoln Electric’s welding solutions cover all 
consumable and process types used for the 
construction of 9% nickel alloy steel storage tanks. 
Additionally, Lincoln’s controlled ferrite product line 
provides the needed ductility and toughness in low 
temperature applications of stainless steel pipework. 
Thanks to our strong technical and R&D expertise 
in this particular sector, we have been constantly 
improving and enhancing product performance 
and properties to meet the latest industry needs, 
notably for larger storage tanks. 
Supporting the LNG Industry 
Liquefied natural gas (LNG) has become a major 
source of energy. Used extensively in the marine, 
commercial, and road transport businesses, 
LNG is a low-carbon, clean burning fuel that 
is easy to transport and more efficient than 
most other commercially available alternatives. 
LNG has established itself as an alternative to 
other fossil fuels, generating 29% less CO² than 
fuel oil and 45% less CO² than coal.* Worldwide 
consumption of LNG has increased significantly 
over the past three decades. The global trade in 
LNG reached 397 million tons in 2022, representing 
approximately 25% of the total global energy 
consumption. This number is forecasted to double, 
reaching over 700 million tons by 2040.  
For LNG facilities, keeping pace with rising LNG 
demand often requires facility updates, including 
tanks and vessels for liquefaction, storage, facility 
piping, and transportation. Capacities of LNG 
tanks typically range from 80,000 m³ up to as 
large as 270,000 m³. LNG temperature is as low 
as -162°C, which demands use of specialized 
materials (typically 9% nickel alloy steel) 
to ensure the storage tanks and vessels have 
sufficient strength, ductility, and toughness.  
The global trade of 
397 million tons of LNG
represents approximately 25% of global 
energy consumption. Lincoln Electric 
solutions enable safe and efficient 
fabrication of LNG storage tanks.
*U.S. Energy Information Administration  
(measured as pounds CO2 per million BTU.)
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Customer Focused
Employee Development & Engagement
2022 Sustainability Report  15

During final vehicle assembly, Fori’s Automated 
Guided Vehicle (AGV) technology can then be 
deployed at various stages of assembly while 
end-of-line (EOL) testing stations provide final 
quality measures for vehicle wheel alignment, 
safety sensor calibration, and head lamp alignment. 
From laser joining of battery cell modules to a 
wide variety of component manufacturing and 
on to final vehicle assembly and EOL testing, 
we provide the widest range of welding and 
automation technology to the emerging electric 
vehicle market. This capability can enhance a 
vehicle’s efficiency, safety, and quality while 
reducing its impact on the environment. 
Automation in the EV Industry 
Electric vehicle battery packs require many 
individual battery cells or modules to be welded 
together to form the complete electrical system. 
The number of cells varies widely depending on 
the battery type, but all require complex tooling, 
precise part location, and laser welding to join 
them into a finished product. Lincoln Electric 
Automation is uniquely capable of providing the  
completely tooled systems required to produce the 
primary building blocks for new EV powertrains. 
Our recent acquisition of Fori Automation 
further enhances our position as a provider of 
innovative welding technology, and a complete 
turnkey system integrator in the EV industry 
capable of providing production line support. In 
addition, our automated Precision Power Laser™ 
Solution offers industry-leading fabrication of 
EV battery trays.
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Customer Focused
Employee Development & Engagement
2022 Sustainability Report  16

SOLUTIONS  
& VALUE
2022 Sustainability Report  17

125+ YEARS OF MARKET-LEADING SOLUTIONS
Broadest Portfolio of Solutions in the Industry1
1 Diagram does not represent net sales mix by product area
WELDING 
& CUTTING 
SOLUTIONS
AUTOMATION
Education Products, 
Curriculums & School
Gas Management Solutions
(Industrial & Life Sciences)
ARC Welding 
Equipment
Automation 
Integration Services
Automated  
Joining & Cutting
Additive / 3D Printing
 Ancillary Automated  
Function & Cell Components
(Tooling, Positioners, Bending, AGVs, 
Assembly, End Of Line Tesing)
Digital Solutions
Filler Metals
Brazing & Solder Alloys
Accessories  
(PPE, Fume, Guns, Tools)
Cutting Solutions
Solutions & Value
New Product Vitality Index 
We measure our innovation and 
sales success through our Vitality 
Index score. In 2022, we increased 
R&D spending 13% and increased 
our Vitality Index of sales from 
new products launched in the 
last five years to 37% as com-
pared with 33% in 2021. We 
maintained our Vitality Index 
for equipment systems at 57%.
37% Vitality Index score 
achieved in 2022, calculated as the 
percentage of new product sales 
launched in the last five years
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Customer Focused
Employee Development & Engagement
2022 Sustainability Report  18

Our acquisition of  Fori Automation, LLC. (Dec. 
2022) expands our automation capabilities, 
extends our footprint in the USA, Mexico and 
Europe, and establishes an automation pres-
ence in South Korea and India. This bolsters 
our ability to help customers achieve safer and 
more productive operations across various end 
markets globally.
As of FY2022, we had approximately $850 million 
in sales from our global automation portfolio 
and accelerated our commercialization of cobots, 
which broaden the accessibility of automation 
to small, and medium-size fabricators — whose 
high mix/low volume work has traditionally not 
been well suited for automation. 
End of life cycle and system decommissioning 
are key considerations in the design of our 
solutions, and a point of focus during our final 
design review process.
Automation Solutions
Our Higher Standard 2025 Strategy includes 
building value for our customers through 
innovative product solutions. As a leader in 
welding technology and safety, we have identified 
several key areas to make a positive impact, 
including automation products and enhanced 
software solutions. We consider our customers’ 
sustainability concerns in our product offerings, 
and strive to improve product energy efficiency, 
safety, logistics, and to reduce packaging waste.
We are constantly looking for opportunities 
to improve energy efficiency and advance 
environmental stewardship in the automated 
solutions that we provide our customers. 
Examples include all electric tube bending 
systems, all servo press transfer systems, 
conversion of hydraulic press systems into all 
electric servo solutions, and laser-based solutions 
for joining and/or cutting — which in many 
cases are much cleaner and come with improved 
energy efficiency over other processes.
INNOVATIVE PRODUCT SOLUTIONS 
We are committed to optimizing our product offerings to our customers  
while lowering the carbon footprint of these products.
Solutions & Value
Introduction
ESG Management & Oversight
Customer Focused
Solutions & Value
Operational Excellence
Sustainability Performance Summary
Corporate Governance
Customer Focused
Employee Development & Engagement
2022 Sustainability Report  19

Welding & Cutting Solutions
Increasing Efficiency With Silicon  
Carbide Transistor Technology 
Transistors are an essential part of power supplies 
in welding machines. Insulated gate bipolar 
transistors (IGBT) are commonly found in inverter- 
based welding machines and allow for the use of 
AC and DC current for welding. A new transistor 
was designed to replace the conventional IGBT in 
our Powertec™ i500s Welding Machines. The new 
transistor uses silicon carbide (SiC) technology 
to make the machine lighter, less expensive, and 
more efficient. 
The increased efficiency (up to 90%) will result in  
average energy savings of 120 kWh per year per 
machine; and, with fewer raw materials needed, 
Powertec™ i500s will be less expensive to produce. 
The result is an improved, more environmentally 
friendly machine which consumes less energy and 
less natural resources to manufacture.
Upskilling the Welding Workforce With 
Cooper Cobots 
When it comes to careers in the manufacturing 
industry, the development of specialized 
or technical skills can often lead to greater 
opportunities and better pay. 
This is especially true in the welding industry, 
where retiring baby boomers and the recent pan-
demic have left gaps in the skilled manufacturing 
workforce that are not easy to fill. Welders who 
possess the technical skills required to work with 
automated tools and robotics — tools which help 
optimize welding processes and improve shop  
efficiency — are in high demand.
For welders looking to level up, Lincoln Electric’s 
Cooper “Cobot” (collaborative robot) solutions 
feature industry leading ease-of-programming, are 
intuitive to use, and are designed for an operator 
with any level of robotics experience. Workers can 
quickly learn how to run a cobot welding unit using 
tablet-based teaching pendants, allowing for “teach-
ing at the torch”, and all but eliminating the learn-
ing curve for workers and manufacturers. Thanks 
to a simplified user interface, non-welders can be 
transformed into operational users of our Cooper 
Cobots in less than one hour of online training.
Cobots are creating new opportunities not only for 
welders, but for shops looking to optimize welding 
processes, fill employment gaps, and increase 
overall production efficiency.
Lincoln Electric products and solutions 
help manufacturers respond to the 
rising demand for new welders.
Doors Opening
Over 47,000 new welders must enter the 
workforce each year to keep up with the 
demand and offset retirements.*
470k
Approximately 470,000 welding 
jobs will be needed over the 
next 10 years in the U.S.*
36% 
of current working welders in 
the U.S. are OVER forty-four 
years of age*
*U.S. Bureau of Labor Statistics.
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Ergonomic 
Handle Feature
Reducing Training Time With Virtual Reality 
VRTEX® 360 virtual reality welding trainers 
simulate welding for hands-on welding training for 
two students at a time on one machine. VRTEX® 
360 Compact, a new smaller model, reduces the 
footprint needed for VR training while offering 
the same powerful software and benefits as other 
VRTEX® training models.
Virtual welding improves student safety through 
the elimination of the use of metal (electrodes 
and coupons), sparks, heat, shielding gas, or weld 
fume removal.  Virtual welding also reduces overall 
energy consumption by requiring less energy than 
a traditional welding machine, feeder, and fume 
control system.
Ergonomic Improvements For  
Greater Comfort and Efficiency 
The POWER MIG® 211i MIG welder is a straight-
forward, dependable machine for flux-cored 
welding. The POWER MIG 211i is designed with 
multiple lift points and highly efficient inverter 
technology which reduces weight while maxi-
mizing power, ensuring more efficient operation. 
At 41 pounds, this machine can go anywhere and 
handle any job. The seven-segment display, with 
basic knob controls and a simple three-step setup 
process, gets customers welding quickly. 
The POWER MIG 211i MIG welder is provided with 
a MAGNUM® PRO 100L welding gun with an over-
molded handle design that offers key benefits to 
the operator, including:
• Increased Comfort
• Enhanced Grip
• Reduced Hand Fatigue
• Improved Control
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EV CHARGING 
Lincoln Electric’s 150 kilowatt DC fast charging system, scheduled for introduction in 2023, is based on Lincoln’s own designed 50kW 
charging modules, and has a single charge port pedestal compatible with CCS-1 vehicles. Engineered to be highly durable and reliable 
across a range of harsh outdoor operation conditions, the equipment addresses current issues of existing chargers which become non-
functional over time. Our workforce, facilities, service networks, and experience in building welders with DC output using the latest 
technology, position Lincoln Electric to be a leader in the EV charging field. Lincoln’s architecture is scalable from as low as a single module 
50kW DCFC, up to power levels as high as 1 megawatt, suitable for large vehicle and construction equipment charging in the future.
PC Boards: Printed circuit boards are used in many Lincoln 
Electric products in some form or fashion, making them 
an important resource to manage. Many PC boards are 
damaged or broken during the assembly of different 
products, which results in scrapping. In order to be recycled, 
PC Boards must be separated and broken down into their 
constituent parts — a process which costs money and still 
results in some waste. Efforts to address this challenge are 
underway in Poland, where we started programs to repair 
and reuse as many broken boards as possible. Broken boards 
are sent for repair at another Lincoln facility or to outside 
suppliers as needed. In 2022, the cost of board disposal 
decreased 57% and the total amount of boards sent out for 
recycling increased by 56%.
Hardfacing is a low-cost method of extending the service life of 
metal components by coating them in wear-resistant surfaces. 
Although used primarily to restore worn parts to usable 
condition, hardfacing is also applied to new components, 
extending their life and offering the following benefits:
» Fewer replacement parts needed
» Increased operating efficiency via reduced downtime
» Less expensive base metal can be used
Our vertically integrated manufacturing process allows us 
to reduce the life cycle impacts of our consumables and 
recycle or reuse many materials inside and outside of our 
operations. Examples of how we close the loop, reduce raw 
material consumption, and enhance product life within our 
consumables business include:
Stick electrodes:  If stick electrodes are manufactured 
outside our specifications, become damaged, or are 
returned under warranty, where possible, we remove 
coatings, clean and straighten the core rod material, and 
reuse this material in other manufacturing applications.
Submerged Arc Wire and Flux (SAW): As a strategic partner, 
we help our customers to reuse the flux in their submerged 
arc welding applications as repeatedly as possible. Our 
European facilities work relentlessly on optimizing grain 
size and hardness to enable more reuse cycles, meaning less 
material is used in the end-to-end supply chain to perform 
the same job. A trial process is underway in our Cleveland 
operations to help our customers create a circular material 
flow in which the customer ships its SAW slag (a by-product 
of the welding process) back to us. Once received, we 
convert the raw material into new flux for the customer to 
use in manufacturing.
Reducing Life Cycle Impacts
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OPERATIONAL EXCELLENCE
2022 Sustainability Report  23

ADVANCING SAFETY & ENVIRONMENTAL PERFORMANCE
SAFETY
52% Reduction
(−10% YoY) 
Total Recordable Case Rate
GHG EMISSIONS
10% Reduction 
(−1.5% YoY)  
Scope 1 and 2 GHG Emissions
ENERGY INTENSITY
16%  Reduction
(−2.5% YoY)
RECYCLING
80% Rate
(All Waste)
  
LANDFILL AVOIDANCE
97% Rate
WATER USAGE
14% Reduction
(−2.1% YoY)
66% Of all manufacturing 
sites and 100% of major 
manufacturing sites were ISO  
14001 certified in 2022
30% Of all manufacturing 
sites were also certified to the ISO 
45001 standard for occupational 
health and safety
2025 Sustainability Strategy Goals
Safety and environmental stewardship are a priority at Lincoln Electric, and a major component of our Higher Standard 2025 Strategy. We strive to improve our 
performance annually across key safety and environmental metrics to deliver superior value to all stakeholders. Our goals for safety, greenhouse gas emissions, energy 
intensity, recycling, and water use demonstrate our commitment to best-in-class performance and reducing our operational footprint.
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2022 Sustainability Report  24

SAFETY & HEALTH
Our vision is an accident-free workplace with zero safety incidents. We follow a rigorous 
safety and health program that adheres to stringent safety standards and best practices 
ensure our manufacturing operations, related processes, and products do not negatively 
impact the health and welfare of our employees, customers, and neighbors.
Our team of industrial hygiene and product eval-
uation experts also contribute to the fundamental 
science supporting the industry’s understanding of 
testing and mitigation of risk related to workplace 
exposure. In 2022, our Manager, Health and Product 
Evaluation, authored an article in the AWS Journal 
exploring the impact of inadequate local exhaust 
ventilation on welding fume exposure. 
Healthier & Safer Welding  
Lincoln Electric is actively engaged on Safety 
& Health standard development committees 
at key industry organizations including the 
American Welding Society (AWS), the Inter-
national Institute of Welding (IIW), European 
Welding Association (EWA) and across various 
ISO committees to help establish best practic-
es for our employees and end users.
 Extensive auditing, measurement, and 
process redesign to enhance Safety & Health.
  Regular monitoring of our safety 
performance, which enables accountability 
at all levels of the organization.
  Award and recognition programs, including 
our annual Chairman’s Awards for Safety, EHS 
Excellence and Sustainability; Safety Leadership 
Award for Plant/General Managers, Business Unit 
President Awards, citations for high-performing 
employees who make superior contributions to 
the business, and “Best Practice” designation for 
site-level projects that are innovative, impactful, 
and transferable across the enterprise.
 EHS Policy and Global EHS Directives 
that establish the Company’s standard 
expectations — which often exceed our 
compliance obligations — and framework for 
EHS performance across our operations.
  Training across a wide variety of safety topics, 
including peer-to-peer observations and 
interventions.
  Employee-led joint management safety 
committees that focus on improving our 
safety culture by identifying and addressing 
unsafe conditions, reinforcing safe acts, and 
instructing one-on-one safe work practices.
  Commitment to International Standards 
Organization (ISO) 14001 implementation at 
all major manufacturing locations.
Our management system approach to environmental, health, and safety (EHS) includes:
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“Best Practice” award for site-level projects

supported by an extensive library of interactive 
content, and facilitates the automation of training 
assignments and real-time status monitoring.
Continuing to build the competency of EHS 
professionals within our organization is also a 
central focus of our current road map. During 
2022, all global EHS professionals were trained 
on techniques for root cause analysis by our 
Continuous Improvement/Lean Manufacturing 
leader. Site EHS Leaders were tasked with applying 
these techniques within their operation and 
reviewing outcomes with the broader group. The 
result is an ongoing series of incident learning calls 
which allow EHS leaders from all over the globe 
to jointly share best practices, solve problems, 
and encourage deeper organizational learning 
across sites. This learning is strengthened by key 
corporate communications, including the sharing 
of monthly EHS topics for safety talks, “lessons 
learned” incident review summaries, and a monthly 
newsletter highlighting key safety leadership.
Accelerating the Integration of New Sites 
As we continue our journey of growth, we 
recognize the need to accelerate the EHS 
integration of new sites — moving newly 
acquired sites to operating within our EHS 
management system and adopting the Lincoln 
Electric culture of safety excellence. Using a new 
standard business process, in 2022 corporate 
teams were mobilized to support sites in the 
Harris Product Group and Automation groups. 
Safety Performance 
We monitor and measure several safety metrics 
across our operations, including Days Away, 
Restricted or Transferred Case Rate (DART), 
and Total Recordable Case Rate (TRCR), which 
measure the frequency of safety incidents that 
occur within our facilities.
We also track and measure leading safety indi-
cators such as the timeliness of incident inves-
tigations, the closure rate of audit findings, and 
the closure rate of unsafe conditions and unsafe 
acts observed at our manufacturing sites.
Risk Reduction 
Annually, the company sets risk reduction 
objectives at both the Business Unit and site 
levels that are project or activity-based. Given 
the nature of our operations, operating at the 
machine interfaces can be an area of risk in our 
business. In 2022, special emphasis was placed 
on machine guarding improvements. Targeted 
investments were planned and implemented at 
all our manufacturing sites.
Organizational Learning 
In 2022, the company began the implementation 
of a new enterprise-wide Learning Management 
System. This move to a single global platform 
enabled individual manufacturing sites to 
streamline and standardize the delivery of their 
Environment, Health, and Safety (EHS) training. 
The platform includes a standard training 
matrix that is function or job-task specific, is 
34 of our manufacturing facilities recorded 0 DART cases in 2022
Our 2025 goal is to 
reduce  
our TRCR 
by 52% as compared  
with our 2018 baseline.
In 2022, TRCR declined 
15.8% to 1.54 
as compared with our 2018 baseline.
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Safety Performance Highlights 
The manufacturing operations in Euclid 
and Mentor, Ohio have long been models 
for our Behavior Based Safety programs. 
Each year, manufacturing employees report 
unsafe acts, unsafe conditions, and near 
misses to help prevent injury. The sites 
also have strong employee-led Workplace, 
Education, Lifestyle, and Discipline (WELD) 
teams and safety committees, designed to 
provide education on EHS topics, model 
safe behaviors, and participate in the day-
to-day actions necessary to keep safety at 
the forefront of operations. Operational 
leaders, however, recognized the need to 
evolve to respond to new risks in the work 
environment, while reinvigorating the 
“hearts and minds” of all team members.
Introduced in 2022 and adopted in 2023, 
enhanced safety plans for our Operations 
include:
» Front-line supervisor engagement and ownership 
of incident learning
» Redefinition of the safety committee  
roles & responsibilities
» Piloting the creation of safety “heat maps” 
by department and operator engagement in 
identifying and testing safety defenses for high 
risk operations
» Safety roundtables to assess cultural maturity
»  Fit for duty testing and new employee onboarding 
practices
Our Safety Journey in the  
Cleveland Operations
Safety in Automation —  
The Use of Process Hazard Assessment
Operations within our Automation 
portfolio have unique challenges from 
a safety perspective. The products they 
produce are generally built to customer 
specification, and therefore must rely 
on modular work center configurations. 
Lincoln Electric has adopted the use of 
a process hazard assessment in these 
operations. During the assembly process, 
a hazard assessment is to be completed 
at the start of each phase, with the results 
communicated on the project board at the 
entrance of the build area. In all cases the 
boundaries of the work area during each 
Phase is also defined.
Key safeguards — including reducing robot speeds, 
requiring hold-to-operate controls within the 
safeguarded space, and limiting the number of 
employees allowed inside the work zone — are 
applied during different phases of the work based on 
the risk assessment.
Used in many of our facilities, Lincoln 
Electric EMEA has an especially strong 
tradition of Behavior Based Safety (BBS) 
initiatives. What began as an initiative 
within single sites (primarily in France, Italy, 
and UK), is being expanded to all Lincoln 
Electric industrial facilities in European 
countries in which we operate. The initiative 
involves two parallel systems of BBS: single 
“BBS visits” performed by site managers, 
shift leaders, and EHS coordinators; and 
multiple “BBS observations” based on 
checklists performed by the workers or EHS 
coordinators.
Launched in 2022, the project includes 
standardized training through a 
combination of video-based and on-
site experiences guided by expert EHS 
personnel. Facilities are assigned an 
annual target of visits/observations 
to identify unsafe acts or conditions, 
and managers perform regular “Site 
Manager safety walks” to identify near 
misses, unsafe conditions, or unsafe acts.  
Effectively tracking these safety metrics 
and taking corresponding preventative 
actions helps to reinforce a strong culture 
of safety. 
This practice is being reinforced in 2023, 
with renewed focus on remote and on-site 
training and new goals for industrial and 
commercial facilities.
The Impact of Behavior-Based Safety in 
Europe, Middle East & Africa regions (EMEA)
In the UK, our Sheffield facility launched 
a Mental Health First Aid program. Just as 
first aid responders can provide support 
and get help in the event of an emergency, 
trained mental health first-aiders provide 
support and direct others to get help. The 
site follows a program summarized by the 
acronym ALGEE.
A – Approach, Assess, Assist
L – Listen and communicate
G – Give support and information
E – Encourage professional help 
E – Encourage self-help and support 
network
In Spain, we held a Learn & Express 
initiative, led by an expert in psychosocial 
risks in the work environment, to identify 
different mental health awareness actions.
In Italy, the “Ciclo Ergo Postural” program 
was performed, led in collaboration with 
University of Padova, and aimed to reduce 
the risk of musculoskeletal pathology or 
disorders and to raise awareness of the use 
of specific preventive and compensatory 
physical exercises to reduce symptoms in 
workers who already suffer from work-
related musculoskeletal pathologies.
In India, expert wellness talks explored 
topics including Boosting Immunity, 
Common Cold & Awareness, Diabetics 
Awareness & Prevention.
Supporting Employee Health  
and Wellness across the globe: 
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2018–2022 Safety Performance(1)
2022
2020
2019
2021
1.46
1.20
1.47
0.35
0.60
0.54
0.64
1.54
1.83
0.70
2018
Annual data as of December 31 — end of each reporting year
(1)TRCR and DART are calculated per the US OSHA 
definition for the Total Recordable Incident Rate (TRIR) 
and the Days Away, Restricted or transferred (DART) Rate.
15.8% Reduction 
in Total Recordable Cases  
(TRCR) from 2018 to 2022
TRCR
8.6% Reduction 
in Days Away, Restricted, & Transferred 
(DART) cases per 100 full -time 
employees from 2018 to 2022 
DART
In our Cleveland, Ohio facility, during the Shielded Metal Arc 
Welding (SMAW) extruding process, an extruding operator was 
expected to lift a 45-pound slug tray from waist level, 30 inches 
up to the return conveyor. This action took place every 10 to 
15 minutes. A hands-free pneumatic lifting apparatus replaced 
the manual lifting procedure, eliminating the repetitive motion 
of lifting a weight frequently, and decreasing the possibility of 
musculoskeletal injuries.
An employee in the Florence, Alabama facility had an idea 
to make his job a bit easier by adding a tilt to the workplace 
fixture, making it easier to manipulate the wire product being 
assembled and improving his posture at the same time. The 
change was so successful, that it was implemented in all areas 
with a similar job in the plant.
In our Guarulhos, Brazil facility, our safety improvement pro-
gram involved a Safety Culture diagnosis including: an online 
employee questionnaire and in-person focus groups.  Beliefs 
and values were identified as well as strengths in the safety 
program. Opportunities for improvement were also identified 
and presented to a leadership team. Face-to-face meetings 
between employees and the leadership team then occurred 
along with a hands-on activity to formalize a plan for improving 
safety culture. The result was a reduction of accidents that 
included medical leave as well as improvements in awareness 
and incident reporting.
The operation of a welding wire winder is labor intensive and 
poses potential hazards due to sharp wire  ends. In our Mentor, 
Ohio facility, supply wire is now manufactured on a drawing line 
and wound onto reels, reducing ergonomic and safety risks. Full 
reels are rolled into an adjacent, fully automated rewind line. 
The rewind line forms the core, secures the start end, winds the 
spool, secures the wire to the coil, labels the coil, and loads the 
coil onto a pallet.
CASE STUDIES
Reducing Lifting Stress                                                              
Targeting Repetitive Motion Stress                                                            
Reducing Lifting Stress                                                              
Targeting Repetitive Motion Stress                                                            
Safety Improvement and Cultural Maturity Project                                                            
Improving Safety in Welding Wire Winding                                                    
B E S T  P R A C T I C E
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GREENHOUSE GAS EMISSIONS & ENERGY INTENSITY
We are committed to reducing our carbon footprint through the reduction of greenhouse 
gas (GHG) emissions. In 2022, we reduced absolute Scope 1 and 2 GHG emissions by 19% 
compared with our 2018 baseline thanks to continued investment in energy efficiency 
projects within our operations. Energy intensity — the total amount of energy consumed 
per labor hour worked — is also one of our key metrics. Our target is to reduce our 
energy intensity by 16% in 2025 (or 2.5% per year) compared with our 2018 baseline.
The total energy consumed by our operations 
in 2022 was 2,200,995 GJ and increased 1% 
compared to the prior year. When compared 
on the basis of labor hours worked, energy 
intensity decreased by 1%.
Building Better Plants  
In 2022, we joined The Better Buildings, Better 
Plants Program. Led by the U.S. Department 
of Energy (DOE), this national leadership 
initiative works with industry partners in 
the pursuit of a common goal — to promote 
greater energy efficiency in the U.S. industrial 
sector as a means to strengthen American 
manufacturing, save energy and money, 
create jobs, and protect our environment.
Third-party Verification of GHG Emissions 
Bureau Veritas UK Ltd (“Bureau Veritas”) was 
engaged by the company to provide third-party 
verification of our Scope 1 and 2 GHG emissions 
data for the period from January 1 to December 
31, 2022. Bureau Veritas performed this Limited 
Assurance Engagement in accordance with the 
International Standard on Assurance Engage-
ments (ISAE) 3000 Revised Edition. Visit our 
website to view the GHG Assurance Statement.
Scope 1 GHG emissions (direct) constituted 36% 
(approximately 66,959 metric tons) of total GHG 
emissions in 2022 and increased 21% compared 
with the prior year due to acquisitions and 
expanded data collection.
The expanded data collection included 
emissions data from refrigerants, fleet vehicle 
emissions, and emissions from the use of 
welding and cutting fuels at manufacturing 
facilities. Additionally, supporting sites such 
as distribution centers and sales offices 
were added into the scope of our GHG 
calculations. Emissions for the baseline year 
were not recalculated as the listed reporting 
adjustments did not result in a change of 10% 
or greater to the baseline.
Scope 2 GHG emissions (indirect from 
purchased energy) constituted the remaining 
64% (approximately 119,901 metric tons) of 
total GHG emissions in 2022 and decreased 
11% compared with the prior year due to 
continued implementation of efficiency 
projects, including lighting and process 
equipment upgrades. 
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54,806
70,678
55,525
66,959
186,860
119,901
189,863
134,338
187,929
133,123
215,234
144,556
82,488
230,364
147,876
2022
2020
2019
2021
2018
0.101
0.111
0.110
0.102
2022
2020
2019
2021
2018
0.103
GHG data reflects the use of energy sources, including electricity, natural gas, coal, fuel oil, and liquefied petroleum gas, at all Lincoln Electric facilities 
worldwide The data reflects use of the IEA (International Energy Agency) Emission Factors 2018 Edition, the IPCC (Intergovernmental Panel on Climate 
Change) AR5 Edition and the GHG Protocol 2001 in its calculation values. Energy intensity is total energy consumption per total labor hours worked. 
Scope 2 GHG emissions are calculated using the location-based method as outlined in the GHG Protocol Scope 2 Guidance 2015.
10% Reduction 
from 2018 baseline
Energy Intensity by Year
Absolute Metric Tons CO2e of GHG
18.9% Reduction 
total tons CO2e from 2018  
baseline to 2022
Our Progress
16% Reduction 
from 2018 baseline
1% Reduction 
from 2018 baseline to 2022
Scope 1
Scope 2
2025 Goal
2025 Goal
Our Progress
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CASE STUDIES
Our India facility expanded its solar generation capacity from 
200kWH to 700kWH, which increased solar to 15% of their 
total energy consumption from 3%. The additional energy 
generated by solar panels displaces approximately 400 metric 
tons of carbon dioxide emissions annually.
Expanding Solar in India                                                             
As with other sites, our Bielawa, Poland site runs non-stop life 
tests on welding machines. Running for 24 hours a day for 173 
days, the test consumes an extensive amount of electricity. 
The standard setup incorporates a large load resistor and in 
total draws 10kW of energy per hour. This amounts to 41,520 
KWh of electricity over the entire test procedure. This found that 
by replacing the standard load resistor with an electronic load 
resistor, they could return 78 kW of electricity back to the AC 
supply system, reducing the total energy consumption of a full 
test to only 9,134 KWh.
Improving Energy Efficiency in Product Life Testing                                              
The Harris Products Group in Dzierzoniow, Poland, replaced 
a fossil-fuel burning gas heater with an alternative source of 
heat, and found a way to use the cooling system of their washer 
to provide heat in the winter. The use of the washer’s cooling 
system for heat will save 86,400kWh of energy per year — energy 
which would have previously been provided by the burning of 
natural gas.
Reclaiming Process Heat in the Winter                                                           
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RECYCLING & LANDFILL AVOIDANCE
We aspire to achieve zero waste from our operations. Our waste management program 
prioritizes a “reduce, reuse, and recycle” approach to divert waste from landfills, 
leverage waste as a resource, and increase recycling in our operations.
This includes expanding the use of our waste as a feedstock for third parties and introducing 
collection and handling systems that allow us to capture and reuse materials. We measure the 
percentage of all waste that we can reuse or recycle, the percentage of permissible waste¹ that 
can be diverted from landfills, and the percentage of hazardous waste.
2020
2022
2019
2021
74.3%
75.1%
75.9%
75.0%
94.8%
95.1%
95.7%
95.2%
73.4%
94.8%
2018
97% 
2025 Goal Landfill Avoidance
95.2% 
Progress
80% 
2025 Goal Waste Recycling
75.9% 
Progress
Total Waste Recycling Percentage 
 (Including Metals)
Landfill Avoidance Percentage 
1 Permissible waste is waste that is non-hazardous (per the local country definition). 
Total Waste Recycling & Landfill Avoidance
 In 2022, we achieved a 12% reduction in 
total waste generation from  our baseline in 2018.
In 2022, 4.6% of all waste materials, or 2,767 
metric tons, was hazardous waste, compared 
with 5,573 metric tons in 2018. The Company 
is actively working to eliminate 
hazardous waste by implementing 
alternative technologies
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CASE STUDIES
The Harris Product Group in Sao Paulo, Brazil, found a new 
supplier to buy the waste product from the casting process, 
turn it into a useful raw material, and sell it to a variety of other 
companies. Previously, casting process waste had to be treated 
by a third party before being sent to landfill. Approximately six 
tons of waste was treated annually at a cost of $1,000 and sent 
to landfill. Now, thanks to this enterprising supplier relationship, 
the six tons of waste is sold for about $12,000 with no waste 
going to landfill. 
Casting Waste Reuse                                                            
A cyclone was added to the ventilation unit at the facility in 
Zaragoza, Spain that allowed for flux coating lost during the 
stick electrode making process to be recovered. The cyclone 
separates dust particulates from the air and collects it in a 
container allowing for the dust to be reused. Not only does this 
help reduce waste from the electrode production process, it 
increases efficiency and saves money. The cyclone is estimated 
to collect 9,200 kilograms of coating that can be recycled and 
reused per year. 
In-Line Flux Recovery System                                        
In keeping with its previous reduction of packaging waste, the 
team in Dzierzoniow, Poland, completed a plan to reduce the use 
of labels on its packaging and products. Various labels for card-
board have been replaced with a stamp system. The change will 
replace 37,650 labels with stamps every year. Fewer labels means 
less waste, and a lower impact on the environment. 
Replacement of Labels                                                     
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2022 Sustainability Report  33

WATER MANAGEMENT
Water is an important natural resource and we acknowledge our responsibility to 
manage water carefully. Water is predominantly used in our consumable manufacturing 
processes. We monitor and measure absolute water use and water intensity (cubic 
meters of water used per hour worked).
Our water management initiatives focus on reducing water consumption and our reliance 
on freshwater. In 2022, we achieved a 25% reduction or 913,149 cubic meters compared to 
our 2018 baseline, exceeding our 2025 target reduction of 14%.We achieved this reduction 
by increasing the reuse and recycling rate of our water through improved wastewater 
treatment initiatives. We have also achieved greater water efficiency by investing in 
manufacturing processes that have lower water requirements.We currently have one “zero 
water discharge” facility and several manufacturing facilities which capture rainwater for 
reuse in manufacturing processes or for fire protection.
1,135,076
948,671
953,851
913,149
1,210,879
2020
2022
2019
2021
2018
Water Usage (Cubic Meters)
14% Reduction 
from 2018 baseline to 2025
25% Reduction 
from 2018 baseline to 2022
Our Progress
2025 Goal
25% reduction 
achieved in 2022 or 913,149 cubic meters 
compared to our 2018 baseline
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2022 Sustainability Report  34

CASE STUDIES
When an aluminum wash line needed to be purchased and 
installed in our facility in Guadalupe, Mexico, we recognized an 
opportunity to conserve water and save money. A new wash line, 
which utilizes a closed system alcohol wash containing an internal 
distillation process, will eliminate the use of 170,000 gallons of 
water per year and will result in savings of $98,169 per year. 
Alcohol-based Washing
A set of photo sensors was installed to help decrease the water 
consumption of the paint system in our facility in Torreon, Mexico. 
The sensors control the flow of water to ensure that jets only 
spray when necessary and automatically shut down the water 
supply when the machine is not in use.  Prior to the installation 
of these sensors, the paint system consumed 36.53 cubic meters 
of water per day. After the sensors were installed, the measured 
consumption of water dropped to 7.59 cubic meters per day — a 
79.2% decrease. This decrease in water usage is estimated to save 
approximately 10,500 cubic meters of water annually.
Parts Sensing Washer                                      
In our Gebze, Turkey location a wire drawing originally had an 
independent tank for wire rinsing with a reserve capacity of 1 ton. 
The water in the reserve tank is sprayed onto the wire by the 
pump. Here, the water of the rinsed wire was being turned over 
many times, and too much water was consumed in an inefficient 
washing process. Thanks to a new design, combining Pickling, 
Coppering, and Rinsing water tanks, water consumption has been 
reduced by half, or up to 5.3 tonnes per day per machine. 
 
Water Savings Through Data Monitoring                                                 
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2022 Sustainability Report  35

EMPLOYEE DEVELOPMENT  
& ENGAGEMENT
2022 Sustainability Report  36

A proven global incentive management system
Our co-founder, JF Lincoln, designed Lincoln 
Electric’s renowned Incentive Management 
System to align stakeholder interests around 
a performance-based system that encourages 
employees to maximize their potential, rewards 
operational efficiency and excellence, and 
generates superior value for shareholders.
Today, all of our global businesses operate under 
an incentive management philosophy which 
includes performance-based compensation 
programs, profit sharing, and an open door 
policy; and which creates an atmosphere 
for employees to thrive, learn, grow, and be 
rewarded for exceptional performance. 
Lincoln Electric’s founders established a way of 
doing business that remains central to who we 
are today. The “Golden Rule”—treating others as 
one wants to be treated—is at the heart of how 
we operate and lays the foundation for our core 
values of:
Together, with Incentive Management, the 
Golden Rule helps to ensure our development 
strategies are rooted in inclusion and seek 
success for all employees as an outcome.
INCENTIVE 
MANAGEMENT
James F. Lincoln 
Co-Founder & Chairman  
1929 to 1965
Treating others as one wants to be treated 
is at the heart of how we operate.
• Integrity 
• Performance 
• Quality
• Employee development 
• Commitment 
• Customer focus. 
Employee Development & Engagement
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2022 Sustainability Report  37

Reaching Our Full Potential
EMPLOYEE ENGAGEMENT
Our open door policy ensures transparency and 
collaboration from the frontlines to the Chairman’s office. 
Communication is a simple but key part of employee 
engagement. In response to employees’ desire for greater 
connection and understanding of the business, Leaders 
added regular communication and site meetings across the 
globe—including daily connections with senior leadership. 
Formalized “O3s” (or one-on-one meetings) serve as regular 
connection points for addressing tactical work matters as 
well as short- and long-term career planning discussions.
Our new global competency framework supports six themes that are closely aligned with 
out Values and Strategy and complement each other for a holistic picture of how to carry 
out the best in us:
What are the new competencies?
Competencies, in their simplest form, describe how we 
do our best work. They are the behaviors and actions 
that matter most to Lincoln Electric, and they provide a 
roadmap to look to on our journey to be our best.
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• A formal employee suggestion program that 
encourages all employees to submit creative 
and constructive ways to drive continuous 
improvement across the organization.
• Skills and Career Development programs to 
further professional development and reinforce 
promotions from within the organization and a 
strong succession pipeline.
• Team-led, flexible work where customer, team, 
and business needs replace rigid, top-down 
workplace rules, and designated remote roles 
that help to widen the talent net and promote 
a more inclusive workforce. 
• Launched our “Work Appropriately” flexible 
work program globally. Spot surveys indicate 
high manager/employee engagement and 
productivity from workplace flexibility.
• Employee-led resource groups, such as  
our Cleveland-based Diversity Councils,  
Young Professionals, Veterans, and Women  
in Lincoln Leadership (WILL), that are 
supported by senior executives.
A global employee survey, including all frontline 
production employees, created valuable insights 
into the employees’ work experience. Smaller 
group “listening sessions” and town hall meetings, 
led by supervisors and operations leaders, brought 
further depth to the survey results and served as 
a call to action. The global survey also identified 
the need for additional learning and development 
opportunities, especially for employees early in 
their careers.  
Helping employees advance their careers
In an effort to “up skill” current employees who 
expressed an interest in advancing their careers 
toward an area of need, we expanded training in 
the skilled trades. Additional actions to promote 
active employee engagement and an inclusive 
environment included:
• Sit down “listening sessions” with our U.S. 
piecework employees to hear first-hand their 
views and take action—and follow-up meetings 
with executive team and front line supervisors 
to ensure notable workplace changes were 
implemented.
• A competitive, performance-based 
compensation and benefits program, 
including our unique Incentive Management 
System which rewards engagement and 
excellence through profit-sharing bonuses, 
as well as competitive medical benefits, an 
employee assistance program, student loan 
debt forgiveness in the US, and education 
reimbursement, among other offerings.
“Lincoln trains you in-house, and you just 
bring your work ethic and a positive behavior 
and you’ll be successful.”
—Vince Mcgill 
Manufacturing Trainer
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2022 Sustainability Report  39
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Our commitment to diversity and inclusion 
(DE&I) starts at the top. Our Chief Executive 
Officer and Chief Human Resources Officer lead 
our DE&I initiatives and our CEO is a signatory 
of the “CEO Action for Diversity & Inclusion.” 
Both leaders report on the progress of our DE&I, 
talent attraction and retention, and succession 
planning initiatives to the Board of Directors at 
least twice annually.
Our leadership team is also committed to this 
effort. Senior leaders have DE&I objectives as 
part of their annual performance goals.
To support a diverse pipeline of new employees, 
we have focused on diverse talent sourcing 
strategies and partnerships with external 
organizations that develop and supply diverse 
talent. This includes partnering and recruiting 
with associations such as the National Society 
of Black Engineers, the Society of Hispanic 
Professional Engineers, the Society of Women 
Engineers, and at Historically Black Colleges and 
Universities (HBCUs).
We have a longstanding commitment to equal opportunity in all aspects 
of employment—including employee compensation, job placement, and 
promotion regardless of gender, race, or other personal characteristics. 
Our guiding principle, The Golden Rule of “treating others as you would 
like to be treated,” is foundational, and invites employees to share in the 
responsibility of safeguarding an equitable and inclusive workplace where 
each individual’s unique contribution is encouraged.
DIVERSITY, EQUITY, & INCLUSION
Lincoln Electric Demographics (2022–year end)
60% 
of 2022 Named 
Executive 
Officers are 
ethnic or 
gender diverse.
24%
of our U.S. workforce  
is Racially & Ethnically  
Diverse1
21%
Women
36%
Ethnic or Gender 
Diverse
40%
Ethnic or Gender 
Diverse
Board of 
Directors
Global 
Workforce
U.S. 
Workforce
¹Lincoln Electric’s definition of Racially & Ethnically Diverse is based on the 
historically underrepresented groups defined by the U.S. Equal Employment 
Opportunity Commission and reported through the Company’s EEO-1 filing
Leadership 
Team
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Celebrating International Women’s Day
Women in Lincoln Leadership (WILL) 
spearheaded a company-wide celebration 
of International Women’s day. 
Commemorative T-shirts were printed with 
the #EmbraceEquity theme and distributed 
to teams around the world, who shared 
photos and took part in the festivities, 
which included a raffle, inspirational 
speakers, and interactive group discussions. 
Lincoln Electric leaders shared videos 
and written reflections throughout the 
week, and teams from China, Malaysia, 
Europe, Mexico and the US joined in the 
fun, sharing photos and reflections on a 
dedicated page of our intranet platform. 
Although #IWD2023 is over, the theme of 
#EmbraceEquity lives on, as we strive to 
maintain a culture of inclusivity and allyship. 
Our DE&I programs focus on:
• A performance management competency 
framework that measures how well employees 
value the unique differences of others and treat 
coworkers with respect and dignity
• Internal DE&I education and training programs 
to better appreciate our differences and the 
value that inclusiveness creates an environment 
of mutual respect—which reinforces our guiding 
principle of The Golden Rule
• Employee development programs that build a 
bench of talent that enables promotion from within
• Internal campaigns to emphasize the benefits 
of an inclusive environment
• Partnering with diverse customers and 
suppliers to understand their expectations and 
collaborate effectively. As a large business, 
Lincoln Electric has small business utilization 
goals just as the federal government does. 
These goals include use of veteran-owned, 
service connected veteran-owned, women-
owned, disadvantaged businesses, and 
small businesses in conjunction with large 
government contracts.
• Our U.S. organization actively promotes DE&I 
through employee resource groups (ERGs), 
including our Diversity Councils, Young 
Professionals, Veterans, and Women in Lincoln 
Leadership. ERG members volunteer their time 
to support local nonprofit organizations that 
positively impact DE&I in our communities.
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DEVELOPING OUR PEOPLE
Key Training &  
Development Programs
Junior Board: The “Junior Board” began in our 
U.S. business 80 years ago and continues today 
as a key development opportunity for emerging 
talent. Rising young professionals serve a three-
year Junior Board term and engage with senior 
management on special projects and initiatives 
that address business challenges—driving 
continuous improvement in the organization. 
Members gain practical, hands-on experience on 
a cross-functional team and learn skills essential 
to long-term leadership success.
SPARK: The SPARK (Strategy, Project, Agility, 
Relationship, and Knowledge) program is a tool 
which helps our international employees develop 
their careers. The objective is to bring global 
teams together, improve collaboration, and 
deliver improvement projects bringing value to 
the company.
Employee development is one of the four core peaks of the Higher Standard 2025 Strategy. 
Investing in our employees and their career development remains a crucial element in our 
Company’s long-term success. The Lincoln Electric Employee Development (LEed) program offers 
employees global learning opportunities on a broad array of curated diversity and inclusion, 
wellness, experiential, technical, leadership, and collaborative topics. Since its inception, over 3,000 
individual employees have participated in 225 different course offerings. Recently, the global learning 
course catalog was expanded to include content for all career levels, including training on business 
skills, technology and developer skills, productivity, and collaboration tools, among others. 
Current Junior Board of Directors
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TalentLaunch: In line with our Higher Standard 
2025 strategy, and as an output from our 2021 
employee survey, we identified the need for 
focused, early-career talent development. 
TalentLaunch is our new global, two-year, blended 
learning journey for emerging talent.
Employees not currently in a people-leading role 
have built relevant and foundational skills for 
career growth. Learning experiences and courses 
are aligned to our six global core competencies—
emphasizing the capabilities that define how we 
do our best work, every day.
Leadership Development Program (LDP): The LDP 
is a challenging, and immersive two-year learning 
journey. The program provides 25 high-potential 
employees from across our global business with 
the opportunity to develop leadership skills that 
accelerate their careers and support Lincoln 
2022 EMPLOYEE  
DEVELOPMENT HIGHLIGHTS :
Extended global talent  
conferences to cover
100% of professional talent, 
up from 40% in 2021
Launched a $125,000 student 
loan reimbursement program 
for U.S. employees
Electric’s success. Many of Lincoln Electric’s 
current senior leaders are LDP graduates. Our 
2022 LDP cohort was the most geographically, 
ethnically, and gender-diverse group of future 
Lincoln leaders in the program’s history. 
Engineering and Technical Sales Trainee 
Development Program: We have a longstanding 
tradition of developing talent through our U.S. 
Engineering and Technical Sales Programs. We 
partner with colleges and universities to develop 
the pipeline of diverse talent necessary for our 
long-term success. Our training and development 
programs offer students and recent graduates 
the opportunity to learn and grow professionally 
while actively contributing to the success of 
the Company. Many of our former Development 
Program graduates have gone on to be CEOs, 
presidents, vice presidents, and esteemed subject 
matter experts in their fields.
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as networking opportunities with executives, 
managers, and other young professionals. When 
students return to school, we encourage former 
interns to serve as Student Ambassadors on 
campus when they return to school, and help 
to recruit future interns through a formalized 
engagement program. 
Middle School and High School Programs: We 
partner with educators and nonprofit partners 
to educate local middle school students about 
the opportunities and career pathways in the 
manufacturing sector. We also partner with 
select high schools to offer experiential training 
in a manufacturing environment to supplement 
traditional classroom learning. Career fairs, 
hosted by local high schools and career centers, 
provide opportunities to highlight career paths 
at Lincoln Electric, promote our post-secondary 
tuition assistance programs and skilled trade 
apprenticeships, and help recruit future 
employees in manufacturing.
Skilled Trade Apprenticeships: We are 
committed to developing, growing, and 
retaining a diverse and skilled workforce 
through apprenticeships. Our apprenticeship 
programs combine on-the-job learning with 
related instruction in technical areas, such as 
Industrial Maintenance, Machining, Welding, 
and Tool & Die, to prepare qualified, productive 
employees for careers requiring precision 
skills. Apprenticeships equip workers with the 
knowledge and competencies companies need for 
career success. 
Internship and Co-op Programs: We sponsor 
an intern and co-op program to provide 
undergraduate students with an opportunity to 
gain real-world experience while investing in 
their education. The program gives participants 
hands-on experience via multiple rotations in 
various departments and provides exposure 
to our world class Weld School, professional 
development, and educational seminars, as well 
“Everyone that I work with, no matter what their 
role is in the organization, their end goal is to make 
someone’s life better somehow.  Whether it’s 
through the products that we sell or the job that we 
do to support them, there’s this overarching theme 
of service back.”
—Anna Gibson 
HR Business Partner
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Welding Technology  
and Training Center
The Lincoln Electric Welding Technology & 
Training Center (WTTC) is a 130,000-square-foot,  
state-of-the-art facility on our Euclid, Ohio 
campus that is dedicated to training:
• educators,
• industry leaders and
• skilled trade workers
in the craft and science of welding.
As an internationally recognized foundation for the 
development of best practices in welding education, 
the WTTC features 166 welding and cutting booths, 
a virtual reality training lab, a 100-seat auditorium 
and extensive seminar and welding classroom 
space to advance technical skills.
Our curriculum and programs are designed to meet 
the needs of industry by addressing every segment 
of the skills and knowledge spectrum – from basic 
welding and teaching concepts up through the 
latest in advanced manufacturing technologies.
COMMUNITY SKILLS TRAINING & EDUCATION
We are dedicated to teaching the art and science of welding, developing industry-ready welders, and 
supporting a strong career pipeline for students and young professionals seeking to leverage welding as 
a core skill. We work with schools, military, and youth organizations that share our passion for science, 
technology, engineering, and math (STEM), and our vision for the future of welding. We are working 
together to prepare the next generation of welders and reinforce our industry’s high standards for 
education, safety, and quality for years to come.
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We also partner with and support welding 
associations that directly work on standards of 
welding education. Specifically, IIW is looking to 
integrate welding education standards and we 
help them by providing them with a core set of 
competencies and skills objectives that they will 
use to shape and develop their own.
Organizations we work with:
• American Welding Society® (AWS), 
  » Lincoln Electric supports several  
scholarships with AWS to promote STEM  
and welding-related degrees
• International Institute of Welding (IIW), 
• European Welding Association (EWA)
• DVS (German Welding Society)
• World Didac®
• Erasmus+ European Program
Through the LEEPS™ program — Lincoln Elec-
tric Education Partner Schools program, we help 
the next generation of welders obtain the cre-
dentials they need to advance their training and 
careers with a complete suite of portable and 
stackable welding certifications. Lincoln Electric 
and the National Coalition of Certification 
Centers (NC3) have joined forces to provide the 
curriculum and learning management resources 
necessary for benchmarking and standardizing 
welding performance.
Our curriculum is now being translated into 
multiple languages to be implemented around 
the globe.
We also provide financial support for welding 
education, including:
• ~$200,000 in annual support for the AWS  
Careers in Welding Trailer
• ~$150,0000 in annual support for student  
organizations such as Skills USA and FFA
• Welding competitions globally in Europe,  
SEA, Africa, and Australia
Number of LEEPS™ program schools  
and industry partners in U.S.: 
156
Number of certifications granted 
through LEEPS™ programs 
Over 16,000
(in the last two years)
Instructors trained: 
458
(in 2022)
$200,000 
in annual support for the AWS 
careers in Welding Trailer
AWS Careers in Welding trailer parked outside WTTC
2022 Sustainability Report  46
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4-H
4-H offers opportunities in communications, 
leadership, career development, livestock, home 
improvement, and computer technology to seven 
million American youth. Programs are found in 
rural and urban areas throughout the country 
and similar programs around the world.
Future Farmers of America® (FFA)
The Future Farmers of America (FFA)—a pre-
miere youth leadership organization. For over 60 
years, we have partnered with FFA to promote 
welding technology and safety to the next gener-
ation of future welding leaders.
Scouts BSA
Scouts demonstrating command of basic welding 
techniques and safety protocols can earn a 
welding merit badge—an honor developed in 
conjunction with the American Welding Society 
and Lincoln Electric.
Training With Industry (TWI) Partner
Lincoln Electric is proud to partner with the U.S. 
military’s Training With Industry (TWI) program, 
which embeds service members into our orga-
nization for twelve months to advance their arc 
welding and cutting skills, and position them as 
an instructor in welding processes and proce-
dures. The TWI experience provides leading on-
the-job experience and industrial skills that are 
then carried back to the military through TWI 
service members, who spend two years actively 
teaching what they learned.
SkillsUSA®
SkillsUSA is a partnership of students, teachers, 
and industry representatives working together 
to ensure America has a skilled workforce. This 
national organization serves teachers and high 
school and college students who are preparing for 
careers in technical, skilled, and service occupa-
tions, including health occupations. We are proud 
to be a sponsor of their welding competition, and 
to engage with other regional SkillsUSA organi-
zations.
International Non profit Organizations
Investing in nonprofit organizations helps build partnerships 
for Lincoln and allows entry into markets globally in educa-
tion. Below are some examples of the organizations we engage 
internationally.
WorldSkills International
WorldSkills International is a not-for-profit membership asso-
ciation open to agencies or bodies which have a responsibility for 
promoting vocational education and training in their respective 
countries/regions. In 2022, Lincoln Electric hosted an interna-
tional competition involving general welding and construction 
welding skills, with over 135 competitors, experts, and delegates 
representing over 30 countries around the world at our Welding 
Technology & Training Center (WTTC) in Cleveland.
WorldSkills gives us a position with governments and training 
agencies around the world to help them develop and strengthen 
welding education. This has been true in South Africa for exam-
ple, where we have set up a Center of Excellence (COE) in welding.
Bangladesh Technical Education Board
In Bangladesh we have partnered with BTEB (Bangladesh 
Technical Education Board) and the Premier University to set 
up “State-of-the-Art” welding labs, and to train and certify their 
welding instructors.
To date, in India we have now installed two complete welding labs 
in National Skill Development Corporation (NSDC) schools, with 
another four currently being implemented. 
EuroSkills®
In Europe we are working closely with EuroSkills® and affiliates, 
such as Germany & Ireland WorldSkills, on a project to be funded 
by Erasmus to enhance welding education.
Partnering Beyond our Walls
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CORPORATE PHILANTHROPY &  
THE LINCOLN ELECTRIC FOUNDATION
The Lincoln Electric Foundation: The Lincoln 
Electric Foundation (the “Foundation”) has been 
an active partner in our communities since 1952, 
dedicated to improving the quality and well- 
being of the communities where our employees 
live and work. Since its founding, the Foundation 
has donated over $35 million in grants and 
scholarships that support programs that work to 
alleviate poverty and illness, promote education, 
provide health and human services, and bring 
cultural vibrancy to our communities.
The Foundation partners with over 70 nonprofit 
organizations annually to support programming 
that makes a sustainable impact. Supported 
organizations include the American Red Cross, 
United Way, and the American Cancer Society.
In 2022, the Foundation issued approximately 
$1.5 million in grants to over 70 organizations, 
led by our support of diversity in welding through 
the Women Who Weld organization, supporting 
free medical clinics and homeless shelters, our 
engagement at MAGNET to support the growth 
of manufacturing in Northeast Ohio through The 
Manufacturing Advocacy and Growth Network’s 
Blueprint initiative, and the expansion of the 
Greater Cleveland Foodbank and its Harvest for 
Hunger campaign.
We are proud of the many programs and initiatives that connect us with our 
communities and align with the philanthropic interests of our employees. 
Together, we are working to build a better world and make a difference.
  32% Human Service
  17% Education
  15% Community Development 
& Youth Programing
  13% Medical Service
  12% Empolyee Match &  
Disaster Relief
  11% Art & Culture
The Lincoln Electric
Foundation’s 2022 
Giving Mix
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Lincoln Electric Volunteers 
Lincoln Electric provides opportunities for 
company-supported volunteerism and giving 
programs, including Company matching for 
charitable donations made in the United States.
Our Cleveland-based Finance team volunteered 
to assist with an Emergency Food Box Distribution 
in the North Coast Municipal Parking Lot in 
downtown Cleveland. The team worked together 
with other volunteers from the community to 
distribute food to 2,500 families in need. Each 
family received chicken, milk, produce, apples, 
and bread. It was a great activity to connect as a 
team while also helping those in need.
LE employees in Poland, with their families, 
celebrated Earth Day planting trees in the 
nearest forest. The event was organized by 
In-Kind Gifts: We provide product donations to 
nonprofit organizations to support fundraising 
events, support disaster relief efforts, and weld 
training programs such as the Scouts BSA 
welding merit badge and skilled trade programs.
In 2022 we provided approximately $475,000 
of in-kind donations domestically, in addition 
to donations made through the James F. 
Lincoln Foundation, product programs that 
support educational institutions, and various 
international facility donations.
Employee Gift Matching Program: The Lincoln 
Electric Employee Gift Matching Program 
supports U.S. employees with the opportunity to 
double their donation to the nonprofits of their 
choice. Employees’ gifts are matched dollar-for-
dollar, up to $1,000 annually
EHS team in cooperation with the Forestry 
of Swidnica. Volunteers planted about 900 fir 
saplings on the prepared fenced land in the forest. 
Lincoln Electric’s Junior Board, in the U.S., 
coordinated a Sound the Alarm, Save a Life  
event with the Red Cross and Euclid (Ohio) 
Fire Department. The Red Cross and Euclid Fire 
Department educated Lincoln Electric employees 
on the basics of fire safety and importance of 
smoke alarms. Volunteers then split into teams 
and walked through the Euclid community to 
knock on doors, install smoke alarms (free of cost 
to residents), and educate residents on the basics 
of fire safety. In all, 145 smoke alarms were 
installed in 57 residences that day.
The Foundation issued  
approximately 
$1.5 million 
in grants to over 
70 organizations 
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Corporate Governance
Customer Focused
Employee Development & Engagement

The Company and employees partnered in 
support of number of humanitarian initiatives 
across the globe, including:
• We partner with customers and local nonprofits 
to support disaster relief efforts. In 2022, 
we supported several Polish and Romanian 
nonprofit organizations that have been 
providing Ukrainian refugees with essential 
services. In addition, many of our Polish and 
Romanian employees have been volunteering 
their time and offering their homes to support 
refugees through this humanitarian crisis. 
• In Poland, teams participated in the Bone 
Marrow Donor Day—an initiative aimed at 
expanding knowledge of bone marrow donation, 
the procedure of collecting samples, and the 
transplant itself. Employees got a chance to 
register as potential bone marrow donors.
• Donations and support for young children in 
Romania, where Lincoln Electric teams also 
provided year-end donations to a hospital and a 
transfusion center to support the community.
• In France, our employees joined the “Health & 
Solidarity” challenge, which raised funds for 
the Red Cross for each kilometer walked, ran or 
cycled, which was matched by the Company.
Supporting employee giving and volunteering
Volunteer Dollars For Doers Program: The 
Dollars For Doers program gives U.S. employees 
the opportunity to earn through community 
service. Volunteer hours can be redeemed 
for a matching monetary gift to the nonprofit 
organization where the employee volunteered, 
with a maximum match of $1,000 per year.
Nonprofit Board Engagement: We encourage 
executive engagement on nonprofit boards to 
support our local partners and make a positive 
difference in our communities.
“I’m very excited to have a platform to be able 
to make a difference, because with the platform 
that I have I can absolutely do more than I could 
just me by myself volunteering outside of work.”
—Olivia Connors 
Engineer
2022 Sustainability Report  50
Operational Excellence
Solutions & Value
Introduction
ESG Management & Oversight
Customer Focused
Sustainability Performance Summary
Corporate Governance
Customer Focused
Employee Development & Engagement

CORPORATE GOVERNANCE
Compliance is mandatory. We also expect 
our representatives, agents, suppliers, and 
consultants to uphold the standards in our 
Code of Conduct. Our Code of Conduct covers 
environmental, social, and community matters, 
in addition to other topics, and is available in 13 
languages.
Our Director of Compliance reports to our 
General Counsel, and manages our ethics and 
compliance program, supports our business 
leaders on compliance matters, and oversees 
compliance training initiatives. They also lead 
our internal Compliance Committee, composed 
of executive leaders from various functions 
(Legal, Finance, Human Resources, etc.) and 
help ensure that compliance objectives are met. 
The Audit Committee of our Board of Directors 
receives updates on our compliance program 
and initiatives at each meeting and reviews the 
compliance program overall annually.
As part of our compliance program, we require 
mandatory training on our Code of Conduct on 
an annual basis—as well as when we acquire a 
new company. Each year, all non-manufacturing 
employees are required to attend online 
training on the Code of Conduct and sign  
an acknowledgment that they have read  
it and will abide by it. Additional mandatory 
compliance training is assigned depending on  
job responsibility. Common topics include: 
Anti-Corruption, Conflicts of Interest, Data 
Privacy, Anti-Harassment, Trade Compliance, 
Fair Competition, Intellectual Property/
Proprietary Information, Human Rights,  
Insider Trading, and Keeping Accurate Books 
and Records. During 2022, 100% of our salaried 
employees completed required online compliance 
training courses, and over 3,500 global employees 
attended live training sessions on various topics.
Our Code of Conduct also includes our non-partisan  
political position and our practice to neither 
contribute corporate funds for political candidates, 
nor support an employee PAC program.
Code of Conduct
It is our policy to be a good corporate citizen. Our Code of Conduct contains our guidelines for conducting business ethically across all of our 
global operations. It applies to our Board and employees at every level within the organization, wherever located. 
2022 Sustainability Report  51
Operational Excellence
Solutions & Value
Introduction
ESG Management & Oversight
Customer Focused
Sustainability Performance Summary
Corporate Governance
Customer Focused
Employee Development & Engagement

Human Rights & Modern Slavery
We are determined to safeguard human rights 
throughout our global operations. The UN’s 
Universal Declaration of Human Rights serves as 
the foundation for our Human Rights Policy. We 
expect all employees to comply with this policy 
as part of our commitment to ethical operations. 
Supply Chain Management
We expect our suppliers to maintain rigorous 
ethics and compliance programs, to adhere 
to applicable laws and regulations, and to act 
responsibly and ensure that no illegal conditions 
exist in their supply chains. Our Supplier Code 
of Conduct outlines our expectations in the 
following areas:
• Human rights and labor standards
• Compensation
• Health, safety, and the environment
• Ethics
We are committed to taking internal actions 
to leverage a responsible supply chain and 
ensure compliance with federal laws and 
regulations requiring disclosure of the use of 
Conflict Minerals. Our cross-functional Conflict 
Minerals team—with oversight from the VP, 
Environmental Health, Safety & Sustainability—
manages our Conflict Minerals Policy and 
related due diligence procedures globally. 
New and renewed supplier contracts include a 
provision which requires suppliers to implement 
identification procedures and mitigate the risk 
of purchasing Conflict Minerals sourced from 
the Democratic Republic of Congo (DRC) or its 
surrounding areas.
We strive to support a supplier base that reflects 
the diversity of our employees, communities, 
and customers worldwide. We work with many 
small and diverse suppliers to leverage the unique 
value and perspectives they lend to our shared 
success. In 2022, our primary U.S. business 
directed approximately 23% of its purchasing 
spend to ~1,000 U.S. businesses owned by women, 
ethnic and racial minorities, veterans, and 
service-disabled veterans, as well as businesses 
designated as small business enterprises.
Data Privacy & Cybersecurity
We understand that data privacy and 
cybersecurity are critical components of 
sustainability. We are committed to protecting 
the personal and sensitive information of our 
customers, partners, and employees, and we 
take proactive measures to prevent unauthorized 
access, disclosure, or misuse of this data. We 
regularly assess and enhance our security 
protocols to protect against threats and maintain 
compliance with relevant regulations.
Our commitment to data privacy and 
cybersecurity extends beyond our own 
operations to our partners and suppliers. We 
believe that protecting customer data is not 
only the right thing to do but also essential for 
maintaining trust in our brand and ensuring 
long-term sustainability.
We accomplish this by regularly conducting third-
party and internal assessments of our environments, 
testing our recovery and response processes, 
providing frequent training and education to our 
employees, and aligning our program to widely 
accepted standards such as NIST, GDPR, CIS, ISO, 
OWASP, etc. This includes restricting access to 
sensitive data and implementing an appropriate 
records retention schedule.
2022 Sustainability Report  52
Operational Excellence
Solutions & Value
Introduction
ESG Management & Oversight
Customer Focused
Sustainability Performance Summary
Corporate Governance
Customer Focused
Employee Development & Engagement

We comply with the European Union’s (EU) 
Registration, Evaluation, Authorization, and 
Restriction of Chemicals (REACH) regulations. 
Where required and relevant, consumable 
substances and mixtures manufactured in 
and imported into the EU by Lincoln Electric 
have been registered in the EU. Similarly, our 
electrical and electronic equipment complies 
with applicable global regulatory requirements, 
such as the European Union’s Restriction of 
Hazardous Substances (ROHS) Directive. For 
more information about our product stewardship 
efforts or to access product certificates of 
conformity, please visit our website.
Open Reporting
We strive to create an environment of open, 
honest communication, and we expect 
employees, officers, directors, vendors, and 
commercial partners to report any conduct 
they believe violates our Code of Conduct, 
other policies, or laws. Our global “Speak 
Up” policy (available in our Code of Conduct) 
provides information and guidance to 
help individuals understand our reporting 
requirements and the resources available to 
report potential misconduct and raise questions 
or concerns. Employees have an option to report 
anonymously, and we do not tolerate retaliation 
against individuals who speak out.
Individual employees may speak directly 
with our Compliance or Legal department. 
We also partner with EthicsPoint® to provide 
a confidential phone line and web portal for 
reporting. The toll-free telephone hotline is 
available 24 hours a day, seven days a week, 
in the local language for each of our locations. 
Additionally, individuals may submit a report 
at www.lincolnelectric.ethicspoint.com. In 
2022, 100% of hotline cases were reviewed and 
closed within an average of 30 days, with 51% 
of the case reporters being named individuals 
disclosing their identity, which demonstrates 
trust in the Company’s Speak-Up program.
Product Stewardship
We are focused on advancing sustainability 
in our customers’ operations and designing 
solutions to support de-carbonization across the 
end markets we serve. Our product stewardship 
initiatives focus on improving the design, 
manufacturing, packaging, and transportation 
of our products to improve customer safety, 
increase recyclability, and reduce our products’ 
overall carbon footprint. Our application 
expertise and proprietary solutions are helping 
to lead the expansion of clean technology by 
enabling the fabrication of renewable energy 
infrastructure and power generation, as well as 
the electrification of the transportation sector.
Our chemical information system (CIS) is a 
key enabler of our global compliance strategy. 
For consumable products, the information in 
our CIS—which includes hazardous product 
ingredients and potential fume constituents—
is incorporated into product compliance 
specifications and outlined in Globally 
Harmonized System Safety Data Sheets (GHS 
SDS), label templates, and safe use guidelines.
We distribute our GHS SDS, including any 
updates or revisions, directly to customers via 
email. The GHS SDS are available to all current 
and prospective customers or end users through 
our SDS search tool.
2022 Sustainability Report  53
Operational Excellence
Solutions & Value
Introduction
ESG Management & Oversight
Customer Focused
Sustainability Performance Summary
Corporate Governance
Customer Focused
Employee Development & Engagement

SUSTAINABILITY 
PERFORMANCE SUMMARY
2022 Sustainability Report  54

2025 Goal
2022 Performance
2021 Performance
Safety (TRCR)
52% 
Reduction
15.8% Reduction  
(vs. 2018 baseline)
20% Reduction  
(vs. 2018 baseline)
Scope 1 and 2 Greenhouse Gas 
Emissions (Absolute)
10%  
Reduction
186,860 tons CO2 
18.9% Reduction  
(vs. 2018 baseline)
189,863 tons CO2 
18% Reduction 
(vs. 2018 baseline)
Energy Intensity1
16%  
Reduction
0.102 
1% Reduction  
(vs. 2018 baseline)
0.110 
7% Increase  
(vs. 2018 baseline)
Recyling
80%  
Rate
75.9% of waste recycled
75% of waste recycled
Landfill Avoidance
97%  
Rate
95.2% of waste diverted
96% of waste diverted
Water Use (Absolute)
14%  
Reduction
913,149 cubic meters 
25% Reduction 
(vs. 2018 baseline)
953,851 cubic meters 
 21% Reduction 
(vs. 2018 baseline)
HIGHER STANDARD 2025 GOALS 
2025 Strategy Sustainability Goals
1 Energy intensity is total energy consumption per total labor hours worked.
Sustainability Performance Summary
Operational Excellence
Solutions & Value
Introduction
ESG Management & Oversight
Customer Focused
Corporate Governance
Customer Focused
Employee Development & Engagement
2022 Sustainability Report  55

Metric Code
Disclosure
Unit
2022 Reference or Direct Response
Industrial Machinery & Goods
Energy Management
RT-IG-130a1
(1) Total energy consumed,
(2) Percentage grid electricity,
(3) Percentage renewable
Gigajoules (GJ), 
Percentage (%)
1. Total Energy Consumed: 2,200,995 GJ
2. 46% of our total energy consumption  
came from electricity from the grid
3. <1% renewable
Employee Health & Safety
 RT-IG-320a.1
(1) Total recordable incident rate (TRIR), 
(2) Fatality rate, and 
(3) Near miss frequency rate (NMFR)
Rate
1. TRIR = 1.54;
2. Fatality Rate = 0;
3. NMFR = 11.62
Fuel Economy & Emissions in Use-phase
RT-IG-410a.1
Sales-weighted fleet fuel efficiency for 
medium- and heavy-duty vehicles
Gallons per  
1,000 ton- miles
Lincoln Electric does not manufacture  
medium- and heavy-duty vehicles
RT-IG-410a.2
Sales-weighted fuel efficiency for 
non-road equipment
Gallons per hour
Diesel-powered welding equipment =0.47 gal/hr; 
Gasoline-powered welding equipment = 0.63 gal/hr
RT-IG-410a.3
Sales-weighted fuel efficiency for 
stationary generators
Watts per gallon
Lincoln Electric does not manufacture 
stationary generators
SASB CONTENT INDEX
Sustainability Performance Summary
Operational Excellence
Solutions & Value
Introduction
ESG Management & Oversight
Customer Focused
Corporate Governance
Customer Focused
Employee Development & Engagement
2022 Sustainability Report  56

Metric Code
Disclosure
Unit
2022 Reference or Direct Response
 RT-IG-410a.4
Sales-weighted emissions of:
(1) nitrogen oxides (NOX) and
(2) particulate matter (PM) for:  
(a) marine diesel engines,  
(b) locomotive diesel engines,  
(c) on-road medium- and heavy-
duty engines, and (d) other non-
road diesel engines
Grams per  
kilowatt-hour
Lincoln Electric ensures that purchased diesel 
engines incorporated into our welding machines 
meet the emissions standards of the regions into 
which they are sold
Materials Sourcing
 RT-IG-440a.1
Description of the management 
of risks associated with the use of 
critical materials
Discussion and 
Analysis
2022 Lincoln Electric Annual Report p. 7
Remanufacturing Design & Services
RT-IG-440b.1
Revenue from remanufactured 
products and remanufacturing services
Reporting currency
We do not presently report the individual or 
combined revenue from these specific services.
Activity Metrics
RT-IG-000.A
Number of units produced by 
product category
Quantitative
We consider this proprietary information.
RT-IG-000.B
Number of employees
Quantitative
12,000
SASB Content Index (continued)
Sustainability Performance Summary
Operational Excellence
Solutions & Value
Introduction
ESG Management & Oversight
Customer Focused
Corporate Governance
Customer Focused
Employee Development & Engagement
2022 Sustainability Report  57

ABOUT THIS REPORT
reporting in the United States. Instead, the terms 
refer to environmental, social and governance 
issues that are of significant importance to our 
stakeholders and to the Company. These “material” 
issues inform our corporate strategy, priorities, 
goals, and reporting.
This report covers our owned and operated 
businesses and does not address the performance 
or operations of our suppliers or contractors 
unless otherwise noted. All financial information 
is presented in U.S. dollars unless otherwise noted.
This report contains forward-looking state-
ments relating to Lincoln Electric’s operations 
that are based on management’s current 
expectations, estimates and projections. See the 
“Cautionary Note Regarding Forward-Looking 
Statements” below.
Therefore, the actual conduct of our activities, 
including the development, implementation or 
continuation of any program, policy, or initiative 
discussed or forecasted in this report, may differ 
materially in the future. As with any projections 
or estimates, actual results or numbers may vary.
This report discusses Lincoln Electric Holdings, 
Inc.’s operations from January 1, 2022, through 
December 31, 2022, unless otherwise indicated. 
The report uses qualitative descriptions and 
quantitative metrics to describe our policies, 
programs, practices, and performance. Note 
that many of the standards and metrics used in 
preparing this report continue to evolve and are 
based on management assumptions believed 
to be reasonable at the time of preparation, 
but should not be considered guarantees. In 
addition, historical, current and forward-looking 
sustainability-related statements may be based 
on standards for measuring progress that are 
still developing, internal controls and processes 
that continue to evolve, and assumptions 
that are subject to change in the future. The 
information and opinions contained in this report 
are provided as of the date of this report and are 
subject to change without notice.
Lincoln Electric does not undertake to update or 
revise any such statements. In this report, we are 
not using the terms “material” and “materiality” 
as defined for the purposes of financial and SEC 
Cautionary Note Regarding  
Forward-Looking Statements
This report includes forward-looking statements, 
including statements relating to Lincoln Electric’s 
sustainability, DEI, human capital, product develop-
ment and other related strategies, policies, programs, 
commitments, estimates, expectations, projections, 
initiatives, targets, goals or prospects, within the meaning 
of federal securities laws. The use of words such as “aim”, 
“anticipate,” , “believe,” “commit,” “ensure,” “estimate,” “ex-
pect,” “goal,” “intend,” “mission,” “plan,” “seek,” “strive” and 
“target” among others, generally identify forward-looking 
statements. These forward-looking statements are based 
on Lincoln Electric’s management’s expectations and 
assumptions about future events as of the date of this 
report, which are inherently subject to uncertainties, risks 
and changes in circumstances that are difficult to predict. 
Actual results (including, for the avoidance of doubt, 
our performance with respect to any sustainability, DEI, 
human capital, product development and other related 
strategies, policies, programs, commitments, expecta-
tions, projections, initiatives, targets, goals or prospects) 
could differ materially from those contained in these 
forward-looking statements for a variety of reasons, in-
cluding, among others, (i) technical and operating factors, 
(ii) assumptions not being realized, (iii) the outcome of 
current and future scientific research efforts and techno-
logical developments, (iv) evolving sustainability strat-
egies and best practices and other factors set forth in 
the “Risk Factors” section of our Annual Report on Form 
10-K for the year ended December 31, 2022 filed with the 
SEC and are subject to update by our future filings and 
submissions with the SEC. Any forward-looking statement 
made by us in this report speaks only as of the date here-
of. Other unknown or unpredictable factors that could 
also adversely affect Lincoln Electric’s business, financial 
condition and operating results may arise from time to 
time. We undertake no obligation to publicly update or to 
revise any forward-looking statement, whether as a result 
of new information, future developments or otherwise, 
except as may be required by law.
Sustainability Performance Summary
Employee Development & Engagement
Operational Excellence
Solutions & Value
Introduction
ESG Management & Oversight
Customer Focused
Corporate Governance
Customer Focused
2022 Sustainability Report  58
2022 Sustainability Report  58