exo-is/governance-reporting-on-listed-companies huggingface dataset:
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•	 96% said they accomplished or reached their goal(s)
•	 93% reported Ecolab grants made a difference in relation
to their overall organizational goals
•	 73% reported the grant from Ecolab allowed the
organization to improve existing and/or provide new
services/products
•	 65% reported the grant increased their organization’s
profile, brand awareness and reputation
•	 64% reported their clients/constituents developed new
or improved existing skills because of the grant from
Ecolab
Community impact
Disaster response
As the world’s leading supplier of cleaning and sanitizing 
products and solutions, Ecolab is proud of our in-kind 
donation program which provides needed cleaning 
and sanitizing products to organiz
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Ecolab partners with organizations to fulfill 
our purpose and uplift communities in need
Ecolab’s purpose is to protect people and 
the resources vital to life. One way we live 
our purpose is by serving as leaders in 
our communities, helping our neighbors 
with food safety, optimizing water use 
and protecting people, planet and 
business health.
In 2022, we provided $83 million of relief 
through corporate giving and grants from 
the Ecolab Foundation, product donations 
and employee volunteerism – more than 
doubling our contributions from 2021.
Our efforts to enable communities 
worldwide are often supported by 
partnerships with organizations that are 
working toward a common objective and 
aligned with ou
Keyword: governance
alongside our governance structures, policies and practices, 
provides a solid foundation upon which we build trust with our 
stakeholders. We will continue to build on our legacy of doing 
great things for humanity in the right way, always. 
Promoting a 100% positive future 
through strong governance practices
Governance
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Environment
Social
Governance
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Social
Governance
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Corporate governance
Ecolab’s Board of Directors (“Board”) is 
committed to maintaining a corporate 
governance structure that promotes 
long-term stockholder value and supports 
Ecolab’s efforts to create sustainable 
solutions to economic, environmental and 
socia
Keyword: governance
Our Corporate Governance Principles 
state that in selecting Board 
members, the Board values broad 
perspectives, backgrounds, experience 
and knowledge, demonstrated 
independent judgment, as well as 
diversity of business experience, 
gender and race. Under our existing 
board leadership framework, we have 
an independent Lead Director with 
robust responsibilities and a fully 
independent Governance Committee 
which is responsible for selecting all 
independent directors, committee 
chairs and committee members, which 
are approved by the Board. Committee 
leaders and the Lead Director role are 
rotated periodically as set forth in our 
Corporate Governance Principles. 
Board's role in risk management 
and sustainability matters 
The company’s growth is tied t
Keyword: governance
and Governance Committees of the Board 
of Directors also address various ESG 
matters, including financial disclosures 
regarding climate change, compliance 
matters, pay equity, review of labor force 
(with the goal of avoiding child labor), 
political and trade association support and 
diversity. In addition to reports from these 
committees, the Board receives an annual 
presentation from the SHE Committee 
on the company’s progress against its 
sustainability goals and implementation 
of projects and related activities. 
Cybersecurity is also emerging as a key 
strategic and operating risk for many 
companies. This risk is monitored by the 
Audit Committee and the Board through 
risk assessments and reviews provided by 
management at least semiannua
Keyword: governance
governance practices and policies. 
Many of these practices are set forth in 
our Corporate Governance Principles 
(including Director Independence 
Standards), Committee Charters and 
Code of Conduct. 
12
7.9
92%
50%
60%
average tenure 
in years
board 
members
directors are 
independent 
based on SEC and 
NYSE standards 
and Board’s 
Independence 
Standards
directors are diverse, based on 
gender, race and/or LGBTQ+ status 
committee chairs are diverse
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Social
Governance
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We are committed to upholding the 
highest legal and ethical standards, 
regardless of when and where we 
conduct business. To that end, we have 
adopted specific standards, policies 
and procedures to help us maintain our 
commitme
Keyword: governance
addition, all governance body members 
are required to certify compliance with 
the Code every year. Our annual goal 
is to have 100% of global employees, 
including all senior managers, complete 
a training course and certify compliance. 
In 2022, we had a 99% global completion 
rate. The Code of Conduct does not 
apply to third-party organizations 
providing security personnel to Ecolab 
facilities.
The Code of Conduct training includes 
education on relevant laws and 
regulations to our employee base. In 
addition, targeted specialized training for 
those employees in certain areas or 
functions is also provided. For example, 
employees in accounting and finance 
roles receive training specific to that 
function, and certain employees are 
required to take anti
Keyword: governance
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to gain greater assurance of data accuracy 
across the global enterprise.  Ecolab 
also sets forth records management 
requirements in its Global Records 
Management Policy and Global Records 
Retention schedule.
Reporting mechanisms
Employees have the option to report 
a Code concern to their manager, the 
Human Resources, Compliance or 
Law departments, or Ecolab’s third-
party Code of Conduct helpline or web 
reporting service which are utilized by 
internal and external reporters to convey 
concerns and is available 24 hours a 
day, seven days a week. Reports of 
potential Code of Conduct violations are 
thoroughly investigated, and appropriate 
actions are taken or mitigation steps are 
put in place. Ecolab’
Keyword: governance
global governance and ethics regulations. 
Our annual compliance assessment is led 
by the Global Compliance department 
and is designed to identify legal and 
regulatory compliance risks in 15 risk 
areas, including the assessment of human 
rights issues. The assessment is aligned 
and reported to the internal Audit 
Services team as a part of their reporting 
process. Our annual Code of Conduct 
audit is completed by the Internal Audit 
Services team. Results from the 
assessment and audit are reported to the 
Audit Committee of the Board of Directors 
on an annual basis by Ecolab’s Chief 
Compliance Officer. 
2022 Ecolab Corporate Responsibility Report
Business ethics
Business security
Under Ecolab’s Code of Conduct, we 
require that employees protect Ec
Keyword: governance
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82
Anti-corruption
We monitor and identify issues through 
our comprehensive anti-bribery and anti-
corruption program which includes:
•	 A detailed Anti-Corruption Policy and
Procedures
•	 Required training for applicable
employees
•	 Required anti-bribery and anti-
corruption training for medium- and
high-risk third-party intermediaries
•	 Required anti-corruption due diligence
process for third-party intermediaries
•	 Guidance, resources and tools to help
employees understand and comply with
Ecolab’s requirements
•	 Articles and communications
•	 An anti-bribery and anti-corruption
audit program with a dedicated internal
audit manager
•	 Compliance and ethics committees in all
markets to help identify and mitigat
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Human rights 
Ecolab is committed to enhancing the 
well-being of people and communities 
around the world and has established 
formal policies and procedures to ensure 
human rights are respected across our 
global operations and supply chain.  
Policy
In 2022, we introduced our formal 
Human Rights Policy which outlines our 
commitment to upholding human rights 
globally. We believe in enhancing the 
well-being of people and communities 
around the world. The human rights of our 
employees and those that we do business 
with are respected across Ecolab’s global 
operations. We are committed to respecting 
international human rights standards, 
as defined by the UN Guiding Principles 
on Business and Human Right
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Supplier relations
To meet our customers’ world‐class 
expectations, Ecolab has established 
appropriate policies and standards to 
ensure the quality of our products and 
the integrity of our operations. Suppliers 
are expected to continually increase the 
value to Ecolab in the areas of cost, quality, 
delivery, innovation, compliance and 
continuous improvement.
Ecolab’s business relationship with its 
suppliers is based on supplier policies as 
well as contracts or purchase order terms 
and conditions that are specific to supplier 
transactions with Ecolab.
Policies
Our Supplier Code of Conduct was 
updated in 2022 and includes expectations 
around integrity, ethical and legal 
standards, compliance, confiden
Keyword: governance
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85			
• The best teams and partners are diverse and
inclusive
• Solving complex problems requires diverse
perspectives and experiences
• Driving our partner marketplace to equitably
reflect our diverse society makes our business
more attractive to customers, employees and
investors, and benefits the communities in
which we live work and serve
We define diverse suppliers as a small business 
as defined by CFR Title 13, Chapter 1, Part 121, or a 
supplier certified by one of the following 
organizations or agencies: National Minority 
Supplier Development Council 
(NMSDC), National Gay and Lesbian Chamber of 
Commerce (NGLCC), Women’s Business 
Enterprise National Council (WBENC), US Pan 
Asian American Chamber of Com
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Supporting local suppliers 
Fundamentally, we choose to buy from 
suppliers within the markets in which 
we operate that abide by the ethical 
and sustainability goals set forth by 
our company. We base our purchasing 
decisions on safety, quality, service and 
price, opting to purchase within the market 
whenever possible to minimize emissions 
from shipping materials overseas and 
support local economies. More than 90% 
of our purchases are from local suppliers 
within our markets.
Local community is defined as the major 
markets in which we operate, including 
Asia Pacific, Europe, Greater China, 
India, Middle East and Africa, Latin 
America and North America. Significant 
locations of operations are defined
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The U.S. Department of Labor issues 
an annual List of Goods Produced by 
Child Labor or Forced Labor, which is 
generally consistent with lists issued 
by organizations such as Walk Free 
Foundation. Goods on the List that are, 
or may be, in Ecolab’s global supply 
chain include palm oil from Malaysia and 
Indonesia and silica-based products and 
electrical components/electronics  
from China.
Ecolab’s Global Procurement team 
monitors multiple sources such as 
U.S. Customs & Border Patrol, the 
International Labor Organizations’ (ILO), 
Walk Free or other organizations to 
identify high-risk industries. Of the twenty 
countries with the highest estimated 
prevalence of modern slavery, based on 
the Walk Free F
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Political action
Public policy
Engaging with policymakers is one means 
of furthering our sustainability objectives. 
We communicate with policymakers in 
proactive policy discussions, bringing our 
market segment and scientific expertise 
to the table on water, waste, food safety 
and customer health issues to ensure 
public policy decisions are grounded 
in principles of sound science. Ecolab 
engages with federal and state legislative 
and regulatory bodies, industry and 
customer trade associations and non-
government organizations that provide a 
forum for environmental policy discussion 
relevant to our industry. These include a 
diverse set of stakeholders which focus 
on water-related issues and climate
Keyword: governance
the Governance Committee of the Ecolab 
Board of Directors. In 2022, Ecolab Inc. 
contributed $30,000 to the Democratic 
Governors Association, $30,000 to 
the GOPAC, Inc., and $15,000 to the 
Republican Governors Association.  
Ecolab associates can also support the 
company’s political action committee, the 
Ecolab Inc. Political Action Committee 
(ECOPAC). ECOPAC, which is funded 
by voluntary contributions from Ecolab 
associates, is a nonpartisan committee 
that supports candidates for U.S. Congress 
who share our basic philosophies and 
values. It contributes to legislators from 
across the country where the company 
transacts business. Contributions 
are determined by a board of Ecolab 
executives based on criteria including 
representation of Eco
Keyword: governance
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Data privacy 
and security
Tax
Compliance
At Ecolab, the security of our systems and solutions is 
a top priority. Our Board of Directors oversees Ecolab’s 
global information security strategy and program and 
includes a cybersecurity expert that joined the Board 
in 2014. Our cybersecurity strategy and programs are 
overseen by our Chief Information Security Officer (CISO) 
who chairs an executive-level steering committee, the 
Information Security Steering Committee, and reports 
directly to the Chief Information Officer. 
Ecolab’s cybersecurity and privacy teams work to 
safeguard the company and customer’s data. We partner 
with other companies and industry leaders to help 
protect access to information, ens
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90
Our Approach
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Social
Governance
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91																																																																				
ESG performance data
This appendix summarizes key environmental, social and governance (ESG) performance metrics and indicators identified in our most recent materiality assessment.
Emissions 
Ecolab’s global Scope 1, 2 and 3 (business travel only) greenhouse gas (GHG) emissions are verified by a third party, Apex Companies LLC, using the ISO 14064-3: Greenhouse Gases - Part 3 
specification standard. Our NOx, SOx, volatile organic compounds and hazardous air pollutants emissions are verifie
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92																					
ESG performance data: Emissions																																												
Other indirect (Scope 3) GHG emissions (continued)
• 
For a portion of our purchased goods and services, capital 
goods, and upstream transportation and distribution 
footprint, for 2022 and historical years, we have replaced 
an EEIO spend-based emissions calculation approach with 
supplier-specific data collected via CDP Supply Chain.
•
Upstream emissions from purchased fuels, electricity,
steam and hot and chilled water, include generation and 
transmission and distribution emissions, and any other
losses in this category. Data quality is consistent with
inputs from our global database on sustainability metrics.
Up
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93												
ESG performance data: Emissions																																																						
Emissions 
2020 
2021 
2022
0.000116 
0.000110 
0.000109
NOx emissions intensity 
SOx emissions intensity 
0.000002 
0.000002 
0.000002
NOx and SOx  
emissions  
intensities  
(MT / MT)
NOx and SOx emissions intensities
The scope of NOx and SOx reporting is global facility and fleet fuel use. 
Intensity unit is MT of emissions per MT of product produced.  
0.84 
0.76 
0.54
1.90 
1.64 
1.55
0.24 
0.15 
0.23
0.05 
0.78 
1.71
0.34 
0.25 
0.41
1.68 
1.71 
1.76
Asia Pacific 
Europe 
Greater China 
India, Middle East, Africa 
Latin America 
North America 
Total
5.04
5.29
6.19
SOx emissions  
by region  
(MT)
29.1 
27.5 
26
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ESG performance data: Energy																																										
Energy 
2020 
2021 
2022
2,839,701 
2,845,827 
2,883,535
1,487,362 
1,553,489 
1,579,705
512,583 
505,657 
513,814
12,463
12,117
14,408
5,689 
6,590 
9,833
2,351
3,916
5,805
2,156 
1,936 
1,294
Natural gas 
Gasoline 
Diesel 
LPG
Distillate fuel oil (#1, 2, 4) 
Ethanol
Residual fuel oil (#5, 6)  
Total 
4,862,305 
4,929,532 
5,008,394
511,793 
566,412 
563,033
179,109 
196,461 
220,724
-
7,183
1,698
2,265
Electricity 
Steam 
Purchased chilled water 
Solar
Total 
692,600 
6,530
753
770,156 
793,205
Direct energy  
consumed by 
source (GJ)
Indirect energy 
consumed by 
source (GJ)
Electricity sold
Our
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95																																																																								
Water 
2020 
2021 
2022
We verify our global water withdrawal and water replenishment volumes through Apex Companies LLC using the International Standard on 
Assurance Engagements (ISAE) 3000 for water consumption. For more information, access our Assurance Statement on Environmental Metrics.  
7,586,428 
7,950,573 
8,521,183
1,200,814 
1,231,573 
1,284,702
1,378,429 
1,083,367 
758,506
6,577
12,640
30,772
-
-
Municipal water or other water utility 
Groundwater 
Surface water 
Rainwater
Wastewater from another operation 
Total 
10,172,247 
482
10,278,635 
10,595,163
Water withdrawal 
by source  
(cubic meters)
3,309,337 
3,659,936 
3,947,545
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ESG performance data: Water																																																
Water 
2020 
2021 
2022
715 
1,481 
1,258
728 
3,351 
2,481
Biological oxygen demand (BOD) 
Chemical oxygen demand (COD) 
Total suspended solids (TSS) 
1,470 
1,498 
1,628
1,887,097 
1,735,017 
1,857,684
Total water consumed within the organization 
Total water consumed in water-stressed areas 
654,149 
432,632 
413,280
Water discharge 
by quality (MT)
Water 
consumption 
(cubic meters)
Water discharge by quality
 •
The scope of water quality data is global supply chain 
manufacturing facilities.
•
In 2020, 30%, 28% and 46% of water discharge is represented 
in BOD, COD and TSS volumes, respectively.
•
•
In 2021, 35%, 38% a
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2022 Ecolab Corporate Responsibility Report
ESG performance data: Waste																																																	
Waste 
2020 
2021 
2022
•
All waste is disposed of directly by the organization or
otherwise directly confirmed by the waste disposal contractor. 
The primary type of hazardous waste that Ecolab produces is
process waste from vessel washouts, equipment cleaning, etc. 
Generally, this waste is corrosive or flammable, which is why 
it is deemed hazardous.
•
The scope of hazardous waste by destination is global 
manufacturing facilities and headquarters/RD&E facilities. 
28,281
19,460
19,614
7,081
6,505
9,418
228 
4,967 
5,797
1,331 
2,129 
4,158
1,482 
-
2,598
126
1,461
1,40
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2022 Ecolab Corporate Responsibility Report																																																																								
Global diversity by job level, gender and age
Employment data is reported in head count at the end of 
reporting period (31 December 2022). Contingent workers 
are included in employment data. The most common type 
of contingent workers (92%) performs routine work of 
Ecolab employees. The number of global active contingent 
workers in 2022 was 3,558. Employment data does not 
include temporary employees, interns or co-ops, which 
account for approximately 1% of our total workforce. Data 
for the Board of Directors is current as of the date of initial 
publication of this r
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99																																																																																										
Global new employee hire rates*
Based on 8,644 hires
8.5% 
4.3% 
5.2%
11.5% 
8.8% 
9.5%
29.6% 
34.9% 
33.8%
> 50 Years Old 
30 – 50 Years Old 
< 30 Years Old 
Total
13.4%
10.4%
11.7%
Female
Male
Total
Female
Male
Total
Female
Male
Total
 Asia Pacific
5.0% 
5.3% 
5.5%
11.4% 
10.4% 
11.3%
31.0% 
40.0% 
40.3%
> 50 Years Old 
30 – 50 Years Old 
< 30 Years Old 
Total
12.7%
11.2%
12.7%
Europe
5.5% 
2.4% 
2.8%
9.4% 
7.3% 
7.7%
31.3% 
18.8% 
20.9%
> 50 Years Old 
30 – 50 Years Old 
< 30 Years Old 
Total
11.7%
8.9%
9.6%
Greater China
2.5% 
3.1% 
3.0%
23.1% 
15.4% 
17.0%
76.3% 
79.6% 
78.8%
> 50 Years Old 
30 – 50 Years Old 
< 30 Year
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2022 Ecolab Corporate Responsibility Report
100																																																																																																																																																																																																																																	
Learning adoption rates*
Performance review completion rates
37,453 
38,357 
98%
7,347 
7,379 
100%
1,672
1,709 
98%
16 
17 
94%
Individual contributor 
Junior management 
Management
Top management 
Total
46,488
47,462 
98%
Female
12,820
13,093
98%
Male
33,152
33,543
99%
Not specified 
516 
826 
62%
Total
46,488
47,462
98%
Female
99%
99%
99%
Male
99%
99%
99%
Not specified 
95% 
94% 
100%
99% 
100% 
100%
99%
100%
100%
100% 
100% 
100%
99% 
99% 
100%
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101																																																																		
ESG performance data: Health, wellness and safety
Ecolab global operations conform to the Occupational Safety and Health Administration (OSHA) injury reporting standards. The data 
provided cannot be broken down by gender and does not include independent contractors, except where stated otherwise. 
Total recordable incident rate (TRIR)
Number of incidents per 200,000 working hours
0.16 
0.05 
-69%
0.35 
0.32 
-9%
1.52 
1.48 
-3%
0.63 
0.51 
-19%
Greater China 
International markets 
North America 
Western Europe 
Total
0.94
0.88
-6%
2021 
2022 
% Change vs. 2021
Total vehicle accident rate (TVAR)
Number
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About this report
The Ecolab Corporate Responsibility Report 
documents Ecolab’s sustainability and 
environmental, social and governance 
(ESG) performance on an annual, calendar 
year basis. This report includes Ecolab’s 
performance from 1 January – 31 December 
2022, unless otherwise stated and covers all 
of Ecolab’s global entities of which we have 
operational control, including our global 
offices, manufacturing plants and research, 
development and engineering facilities. 
This report has been prepared in 
accordance with the Global Reporting 
Initiative (GRI) Standards and includes 
material Sustainability Disclosure 
Topics and Accounting Metrics from the 
Sustainability Accounting Standards 
Board (S
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Reporting changes and 
restatements 
Adjustments and restatements of 
information in previous reports 
To improve accuracy and actionability, 
Ecolab strives for continuous improvement 
in accounting and reporting of 
environmental, social and governance 
metrics within our direct operations and 
value chain. Additionally, accounting 
methodologies and reporting requirements 
may evolve as best practices and data 
availability change. For this reason, 
historical reporting in this report may differ 
from previously published information. 
We continue to implement new data-
management collection processes for 
energy and water invoices for all owned 
and operationally controlled fixed facilities. 
Globally, Ecola
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Cummins Inc.INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 1
REPORTING HIGHLIGHTS
Publicly reporting on our progress on
environmental goals for two decades.
COMMITTED TO
Demonstrated leadership on
EXCELLENCE
diversity, equity and inclusion
for more than 50 years.
Cummins is an award-winning
Longtime advocate for stakeholder
model of corporate governance.
global power technology leader,
committed to helping customers
successfully transition to cleaner
forms of energy.
With a broad portfolio of power solutions, the company can serve
customers no matter where they are in their sustainability journey.
Cummins has been advancing more traditional power
solutions for harder to decarbonize applications, and fuel
cells, battery-electric and hybrid systems for appl
Keyword: governance
governance expertise necessary to support customers
aligned to capture the growth
in their journey, developed over more than 100 years
opportunity decarbonization
in the commercial power industry.
presents for Cummins and
its stakeholders.”
Cummins’ technology powers
trucks, buses, trains, much of
the marine and rail industries, JENNIFER RUMSEY,
construction equipment and more. Chair and CEOINTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 2
WHO
ESTABLISHED STOCK SYMBOL FORTUNE 500
KEY MILESTONES
(New York Stock Exchange) RANKING (2023)
WE ARE
1919 CMI 146
STRATEGIC
ACQUISITIONS
Three acquisitions accelerate
Cummins Inc., a global
Cummins’ development of
powe
Keyword: governance
IndianaINTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 3
ENVIRONMENT HIGHLIGHTS
Continued investment and progress toward PLANET 2050’S NINE 2030 GOALS
reaching Cummins’ 2030 environmental goals.
ACTING ON THE PLANET 2050, Cummins’ environmental
sustainability strategy, is built around nine
goals timed to 2030.
Critical research and development investment ENVIRONMENT
in low- and no-carbon technologies.
1. Reduce absolute greenhouse gas
(GHG) emissions from facilities and
operations by 50%.
Cummins has been working
Alignment between community engagement
2. Reduce Scope 3 absolute lifetime
initiatives and 2030 environmental goals. GHG emissions from newly sold
to reduce its environmental
products by 25%.
impact for more than two
3. Partner with customers
Keyword: governance
on-line in 2022 at Cummins’ engine plant in North Carolina.INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 4
PARTNERING TO CUT GHGs PLANTS AND FACILITIES REDUCE GHGs
The company is making progress on its 2030 goal
PLANET 2050 sets a goal of of reducing greenhouse gases (GHGs) produced 2030 GOAL
by Cummins plants and facilities by 50%.
50%
partnering with customers to
ENVIRONMENT PROGRESS
50
reduce GHGs from products in
40
the field by 55 million metric tons.
5.5%
30%
30 31%
The company surpassed its 2020
27% Percentage reduction in generated
goal for this same metric in 2018. 20 waste at Cummins since 2018.
18%
10
CUMULATIVE EMISSION REDUCTION 120,000
0
(in millions of metric tons of CO)
2 2030 GOAL 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Metric tons of COe reduced in
60 55 MIL
Keyword: governance
2018 2020 2022 2024 2026 2028 2030 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 5
COMMUNITY HIGHLIGHTS
BUILDING STRONGER
Employee volunteering nears
pre-pandemic levels.
COMMUNITIES
Strategic community
programs expand reach.
Cummins’ corporate responsibility work aims
to both build more prosperous communities People served by company grants
up for a second consecutive year
and inspire company employees. after falling during the pandemic.
To accomplish this, the company focuses on employee-led volunteerism in communities,
and four strategic community programs the company sponsors.
Cummins centers its engagement efforts on three focus areas where it believes the company
can have the greatest impact: education, the environment and equality of opportunity.
EDUCATION ENVIRONMENT E
Keyword: governance
the public to gather hard to recycle items.INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 6
EMPLOYEE VOLUNTEERISM GRANT MAKING
CONTINUES TO INCREASE
Global community giving in 2022 totaled $33.9 million.
A look at 2022 grantmaking by priority area:
COMMUNITY PROGRESS
Employee participation in Cummins’
EDUCATION
Every Employee Every Community 14%
$33.9
(EEEC) program continued rising
ENVIRONMENT
22.4% MILLION
to near pre-pandemic levels.
EQUALITY
*Participation rate doesn’t include employees joining Cummins through 2022 acquisitions. OF OPPORTUNITY Cummins’ community giving in 2022.
56.5%
OTHER
100 56.5%
7.1%
Percentage of community
83% 82% IMPACT grants going toward Equality
of Opportunity initiatives.
80 73% People served directly or primarily by Cummins grants:
PEOPLE SERVED (BY YEAR
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0 100 200 300 400 500 600INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 7
DE&I HIGHLIGHTS
Gender diversity continues steady growth.
PUTTING OUR
U.S. race and ethnicity also makes gains.
VALUES TO WORK
Women near 50% on Cummins’ top leadership team.
Cummins embraces diverse
perspectives and skills from
every employee. The company
is committed to maintaining
inclusive and accessible work
environments where everyone
feels a sense of belonging.
Diversity, equity and inclusion (DE&I) is one of Cummins’
core values and business imperatives, critical to creating
long-term value for all of the company’s stakeholders.
Cummins’ commitment to forward-thinking DE&I practices
has contributed to innovation, profitability, community
impact, and gender and racial diversity within the
Keyword: governance
break for a little fun.INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 8
GOAL DRIVEN ON OUR DE&I JOURNEY GENDER* AGE*
Cummins is steadily increasing the number of women within its ranks More than half of Cummins’ workforce
Our goal regarding representation
globally, especially among the company’s senior leadership. was under 40 as of Dec. 31, 2022.
is to reflect the markets we serve.
Specifically, Cummins’ worldwide WOMEN IN CUMMINS WORKFORCE 2021 2022 60+ YEARS 5.9%
gender aspirational goal is 50%, and
in the U.S., 12% and 18% for Black OVERALL 27.8% 28.3% 50–59 YEARS 15.9%
and Latino representation, respectively.
Hourly 26.9% 27.4%
40–49 YEARS 23.6%
While we have more to do, we are
Salaried / exempt 29.1% 29.3%
making progress on our journey. 30–39 YEARS 32.5%
Here
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through the 2022 acquisition of Meritor Inc.INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 9
INNOVATION HIGHLIGHTS
Cummins introduces fuel-agnostic Retail giant Walmart partnered with Cummins and
engines to help customers cut carbon. Chevron in 2023 to incorporate Cummins’ new X15N
INNOVATION FOR A natural gas engine into its fleet to reduce emissions.
(Photo courtesy of Chevron)
CLEANER WORLD Accelera by Cummins expands production of
electrolyzers to advance hydrogen technology.
Cummins is building on more than 2022 acquisitions to accelerate economically
viable decarbonized powertrain solutions.
100 years of innovation to support
the company’s PLANET 2050 and
Destination Zero strategies to reduce
carbon and other emissions from its
products in-use.
The company believes it is critical
Keyword: governance
earliest days, to play a critical role.INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 10
LEADING ON RESEARCH AND DEVELOPMENT
2022-2023 INNOVATION HIGHLIGHTS
Cummins in 2022 devotes a record
ACQUISITIONS:
amount to research and development.
INNOVATION PROGRESS
The acquisition of Meritor Inc. and two other
The $1.2 billion spent that year is up companies in 2022 accelerates Cummins’
development of decarbonized powertrain
more than 30% over 2018.
623
solutions. Meritor makes eAxles, a critical
integration point for electrified drivetrains.
Record number of Cummins’
INVESTMENT IN RESEARCH AND DEVELOPMENT global patents in 2022.
FUEL AGNOSTIC ENGINES:
(in millions) Cummins introduces fuel-agnostic engines,
reducing carbon emissions by enabling $1 BILLION+
$1.2 BILLION
vehicles to run on
Keyword: governance
2018 2019 2020 2021 2022 fuel cells and electrolyzers.INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 11
GOVERNANCE HIGHLIGHTS
Cummins names first female CEO in 2022 and Board Chair in 2023.
Three of five company business segments led by women.
ETHICS CRITICAL
Company board develops ESG dashboard in 2022 TO CUMMINS’
to help oversee Cummins’ key ESG initiatives.
SUCCESS
Cybersecurity expands employee training in 2022
and 2023 to help guard against threats.
Ethical behavior on the part of
every board member, employee,
contractor, supplier and
other business stakeholders
is foundational to Cummins’
sustainability.
The company’s Code of Business Conduct revolves around
10 ethical principles starting with “We will follow the law,
everywhere.” The code links those principles to almost every
aspect of wo
Keyword: governance
Building in Columbus, Indiana.INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 12
GOVERNANCE PROGRAMS – KEY FEATURES CUMMINS’ 10 ETHICAL PRINCIPLES
BOARD OF DIRECTORS
Cummins ethics and governance initiatives
are built around the 10 Statements of Ethical
The Cummins Board of 86,903 70,000+ Principles in the Code of Business Conduct:
Directors provides critical
01 We will follow the law everywhere.
oversight of company
Ethics and Compliance training Email accounts covered by Cummins’
operations including human completions in 2022. global cybersecurity upgrades,
02 We will embrace diverse perspectives
resulting in significant improvements
capital management and ESG. and backgrounds and treat all people
in malicious emails stopped at the
with dignity and respect.
company’s digi
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cybersecurity initiatives. for ethical behavior.INTRODUCTION ENVIRONMENT COMMUNITY ENGAGEMENT DIVERSITY, EQUITY AND INCLUSION INNOVATION GOVERNANCE 2022–2023 SUSTAINABILITY PROGRESS REPORT | 13
ABOUT CUMMINS AWARDS AND RECOGNITION
Cummins has received numerous awards and
recognition for its leadership on sustainability.
Here are a few examples:
POSITIONED GLOBALLY ENGAGED
FOR PROGRESS
Cummins has manufacturing locations in
Cummins knows the commercial 10 states and six of the seven continents.
power market, providing power The company has been doing business
to more than a dozen different internationally for more than 60 years
segments including: and our plants outside the U.S. primarily
serve international markets.
PRINCIPAL MANUFACTURING SITES
Named to the 2022 S&P DOW JONES
STATES COUNTRIES
WORLD AND NORTH AMERICAN SUSTAINABILITY
Agriculture Bus Indiana Australia
Kentucky Belgium I
Keyword: governance
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2022–2023
SUSTAINABILITY
OVERVIEW
Cummins Inc.
™ Products mentioned in this report are subject
Box 3005
Columbus, IN 47202-3005 to copyright and trademark protections.
U.S.A.
cummins.com
Produced in U.S.A. 12/23
©2023 Cummins Inc.
Keyword: bribe
Anti-Corruption & Anti-Bribery Tax Policy
Non-Discrimination
CME Group considers all potential job candidates All CME Group colleagues are required to certify to CME Group earns business based on merit and CME Group’s approach to tax risk management and
or contractors without regard to their race, gender, the Code of Conduct and the Anti-Financial Crime will not provide or receive improper or corrupt governance is consistent with our overall approach
A LETTER FROM
OUR CHAIRMAN & age or any other legally protected characteristic. Policy on an annual basis and periodic training is payments. This means that we comply with to risk management. It requires compliance with
CHIEF EXECUTIVE
We are committed to providing a workplace free provided on the Code of Conduct and its re
Keyword: bribe
from discrimination or harassment. Our principles policies. Mandatory education on our AML program Corrupt Practices Act and the U.K. Bribery Act we operate.
of equality and opportunity guide us in the way we is provided to applicable colleagues in accordance without exception, regardless of local business
ABOUT CME GROUP treat each other, as well as the way we work with with regulatory requirements. culture or practice. It also means that we compete
Ability to Organize
our clients and other stakeholders. hard, but fairly, and in accordance with all
Rulebooks for our futures and options on futures
applicable antitrust and competition laws.
WORKFORCE We must continually draw upon our resources to
business include provisions relating to compliance
EMPOWERMENT innovate, embrace change and respond to the
Anti-Money Laundering & with applicable AML and economic sanction In dealing wi
Keyword: bribe
bribery and corruption.
as part of its internal audit plan. The internal audit management. CME Group also complies with
CME Group has established risk-based processes
plan is developed based on a prioritization of the applicable works council requirements.
and procedures designed to ensure that the
audit universe using a risk-based methodology, Human Rights
company does not transact or facilitate prohibited
including input from our ERM program, senior
business with individuals or entities who are the As outlined in our Modern Slavery Act Transparency
management, the Audit Committee and other
target of applicable sanctions. Statement, we are committed to treating all of
Board committees with related risk oversight
our colleagues with respect and di
Keyword: corruption
Anti-Corruption & Anti-Bribery Tax Policy
Non-Discrimination
CME Group considers all potential job candidates All CME Group colleagues are required to certify to CME Group earns business based on merit and CME Group’s approach to tax risk management and
or contractors without regard to their race, gender, the Code of Conduct and the Anti-Financial Crime will not provide or receive improper or corrupt governance is consistent with our overall approach
A LETTER FROM
OUR CHAIRMAN & age or any other legally protected characteristic. Policy on an annual basis and periodic training is payments. This means that we comply with to risk management. It requires compliance with
CHIEF EXECUTIVE
We are committed to providing a workplace free provided on the Code of Con
Keyword: corruption
monitoring of third parties for potential corruption
role is dedicated to anti-money laundering (AML) Our global Assurance Department conducts and working conditions are fully competitive.
risk and our Guide to Conducting Business for Third
and financial crime compliance, as well as other anti-money laundering audits for our regulated CME Group has created a wide variety of
APPENDIX Parties of CME Group outlines our expectations
individuals who hold responsibility as AML officers businesses and may conduct additional audits or formal and informal systems to promote and
for third parties, including expectations related to
in our regulated businesses. examinations of certain elements of our program support communication between employees and
bribery and corruption.
as part of its internal audi
Keyword: tax
Anti-Corruption & Anti-Bribery Tax Policy
Non-Discrimination
CME Group considers all potential job candidates All CME Group colleagues are required to certify to CME Group earns business based on merit and CME Group’s approach to tax risk management and
or contractors without regard to their race, gender, the Code of Conduct and the Anti-Financial Crime will not provide or receive improper or corrupt governance is consistent with our overall approach
A LETTER FROM
OUR CHAIRMAN & age or any other legally protected characteristic. Policy on an annual basis and periodic training is payments. This means that we comply with to risk management. It requires compliance with
CHIEF EXECUTIVE
We are committed to providing a workplace free provided on the Code of Conduct and its relate
Keyword: governance
SOCIAL & GOVERNANCE
REPORTTABLE OF CONTENTS
03 04 07 16 21 29 38
A Letter From About CME Group Workforce Sustainable Community Corporate Appendix
Our Chairman Empowerment Solutions Commitment Stewardship
& Chief Executive ESG at CME Group SASB Index
Officer Elevating Employee Health Innovating for a Sustainable Making an Impact in Our Advancing Business Principles
2022 GHG Emissions
& Well-being in a Changing Future Communities Through Our Board of
Summary
Corporate Environment Directors
Expanding Global Emissions Empowering Youth Through
Fostering a Diverse & Offset Futures the CME Group Foundation Advancing Our Culture of
Inclusive Workplace Stewardship
Collaborating With Industry Strengthening Our
Engaging Our Employees Partners Communities Through Protect
Keyword: governance
environmental, social and governance (ESG) initiatives.
WORKFORCE
EMPOWERMENT Though there is debate regarding the role business I am very pleased with the efforts we have
will play, we at CME Group believe we can make undertaken to date, as well as the progress we
a meaningful contribution by doing what we have been able to achieve on behalf of our clients,
SUSTAINABLE
have done best for nearly 180 years: offering our employees and as a global corporate citizen.
SOLUTIONS
innovative products and services that help our
clients around the world to manage risk in every
COMMUNITY
major investible asset class. We will continue to do
COMMITMENT
just that, whether it includes helping market users
leverage existing tools, transition to alternatives or
CORPORATE developing new offeri
Keyword: governance
issued surveys and/or conducted in-depth interviews Environmental Social Customers and Products Governance
with stakeholders including employees, senior members
of leadership, investors, clients, policy influencers and
business partners to better understand the relative 1 Tier 1 topics are those we believe are critical to the responsible operation and management of our business. Tier 2 topics are those
that require additional attention and pose notable risk or opportunity for CME Group. Tier 3 are topics that should be monitored and
prioritization of these topics.
tracked for rising importance.ABOUT CME GROUP | 06
Upholding strong ESG oversight & accountability
Our ESG Working Group is co-led by Jonathan Marcus, Senior Managing Director and General Counsel, and
Anita Liskey, Senior Managing Director, Global Brand Marketing and Communications. T
Keyword: governance
Finance/Investor Relations Strategy Compliance/Governance
CORPORATE JOHN PIETROWICZ DAVID WONG CARRIE DI SANTO
STEWARDSHIP and LYNNE FITZPATRICK and MEG WRIGHT
Communications
APPENDIX Human Resources KRISTIN WOOD Client Development & Research
HILDA HARRIS PIELL JULIE WINKLER
and FRANCIE SISUL and OWAIN JOHNSON
Reporting
MEG WRIGHT
Operational Resilience Products & Services
BETHANY NETZEL DEREK SAMMANN
Facilities
and PETER KEAVEY
KEVIN LENNON
Information Security
DAN MANLEY Charitable Giving/
Government Relations
Community Relations
LINDA RICH
KRISTIN WOOD
and GAVIN PARKEWORKFORCE EMPOWERMENT | 07
WORKFORCE EMPOWERMENT
Our employees have propelled us to unparalleled success in our industry and are our most valuable asset. At CME Group, we work vigilantly to provide a rich employee
experience that
Keyword: governance
governance approach with best practices, we
are able to strengthen board and management
A LETTER FROM
OUR CHAIRMAN & accountability, promote long-term shareholder
CHIEF EXECUTIVE value and sustain continued success. We are
OFFICER
proud of the trust we have built with our clients,
employees, regulators and shareholders globally—
ABOUT CME GROUP a trust that is maintained by operating our business
according to our five key values:
WORKFORCE
EMPOWERMENT
Lead with conviction and integrity
SUSTAINABLE
SOLUTIONS
Advance the global economy
COMMUNITY
COMMITMENT
ADVANCING BUSINESS PRINCIPLES THROUGH OUR BOARD OF DIRECTORS
CORPORATE
Embrace the exchange of ideas
STEWARDSHIP
Our Board of Directors oversees and advances our core business principles, which provi
Keyword: governance
de a framework for our effective corporate governance. Our Board continues to
focus on the issues that matter most to our company, our clients, our employees and our other stakeholders. In 2022, the Board was specifically focused on:
APPENDIX
Build lasting relationships
• Continuing to oversee the company's risk and • Supporting the transition of our Eurodollar • Innovating and offering market participants
compliance functions, including its Global contracts to our contracts based on the meaningful capital and operational efficiencies
Information Security Program. Secured Overnight Financing Rate (SOFR). across a diverse and globally relevant product set.
Act with ingenuity every day
• Positioning CME Group to deliver long-term • Proactively engaging with policymaking bodies • Fostering an en
Keyword: governance
INTEGRITY GOVERNANCE
GENDER
PHYLLIS LOCKETT YEARS DIVERSITY
SUSTAINABLE Average tenure
SOLUTIONS Chair of the CME Group Board
of Directors' Nominating and
Governance Committee
64
WOMEN
COMMUNITY TECHNOLOGY AND GLOBAL
26% (OVERALL) 52% 35%
COMMITMENT INFORMATION PERSPECTIVE,
GENDER
SECURITY INTERNATIONAL
DIVERSITY
YEARS
CORPORATE Average age
STEWARDSHIP
FRESH
PERSPECTIVE
RACIAL/
13% 43% (TENURE
APPENDIX ETHNIC
UNDER FIVE
DIVERSITY
YEARS)
See our Proxy Statement for additional information on the attributes and qualifications of our Board members, including detailed biographies and
diversity statistics.
For information on our governance policies, see the following resources:
Board of Directors Code of Ethics | Board of Directors Committee Charters | Board of Dire
Keyword: governance
ctors Conflict of Interest | Corporate Governance PrinciplesCORPORATE STEWARDSHIP | 31
Managing company risk Ensuring effective succession
planning
While senior management is responsible for Our ERM Program is designed to assure appropriate
managing the company’s risk on a day-to-day visibility, assessment, prioritization and reporting of Providing effective continuity of leadership is
basis, our Board of Directors oversees risk the full range of our key enterprise risks, which are vital to our success and central to our long-term
management activities and programs, including organized into six key risk categories: clearing house, strategy. Among the Board’s principal oversight
our Enterprise Risk Management (ERM), operational compliance, financial, operational, reputational and responsib