exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
Governance & Accountability
Appendix
Otis colleagues giving back – volunteering at Otis
Since we began recording volunteer hours in 2022, our colleagues have contributed over 114,000 volunteer 
hours. In 2023, we spurred more volunteering with the following examples: 
•	 We expanded our 2 in ’22 volunteer campaign to a 3 in ’23 campaign, encouraging colleagues to volunteer 
and record at least three volunteer hours during the year.
•	 We deployed a volunteer playbook in partnership with the international nonprofit organization Points of 
Light for colleagues to plan and execute a volunteer project anywhere in the world.
•	 We continued to support longstanding relationships with community organizations such as India’s 
Samarthanam Trust for the Disabl
Keyword: governance
Governance & Accountability
Appendix
Governance & 
Accountability
At Otis, our Absolutes of Safety, Ethics and Quality guide us in our decision-making. 
They are fundamental to who we are and what we strive to achieve. They define us, 
unite us, shape how we work and set us apart. Customers, passengers, shareholders 
and Otis colleagues trust us because they know we do business the right way – relying 
on our Absolutes. 
We are each accountable to deliver excellence in what we do, across our production, 
installation, maintenance and repair processes, as well as in sales, marketing and 
financial reporting. To ensure accountability, we uphold high standards of governance, 
ethics and integrity implemented through strong internal controls, consistent
Keyword: governance
and colleague engagement. Strong governance leads to superior business outcomes 
and the Otis Board of Directors is regularly engaged on a wide range of matters 
spanning business strategy and ESG-related topics. 
We have codified our Absolutes of Safety, Ethics and Quality in The Otis Absolutes, 
a code of ethics applicable to all Otis colleagues globally and the Otis Board. 
Additionally, we have adopted company policies, practices and procedures to 
further implement the Absolutes. To learn more about corporate governance at 
Otis, visit the Otis investors website to access:
•	 Governance Documents, 
•	 SEC Filings, including our latest Form 10-K and Proxy Statement
•	 Committee Charters
•	 The Otis Absolutes
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ESG at Otis
Health & Safety
Environment & Impact
Peo
Keyword: governance
Governance & Accountability
Appendix
Goals and performance
Goal: Award at least 20% of U.S. supplier spend annually to diverse suppliers
We work to prioritize diversity within our organization, recognizing the fundamental strength 
that multiple cultures, skillsets and experiences bring to our business – and that extends to 
our suppliers. To ensure a competitive, reliable and resilient supplier pipeline, we must ensure 
access to a broad array of suppliers, and we see our commitment to allocating a minimum 
spend to diverse U.S. suppliers as fundamental to our future success.
We define diverse suppliers as those that are at least 51% owned and controlled by an individual 
or group that is underrepresented – minority-, women-, veteran-, LGBTQ+, or di
Keyword: governance
Corporate and ESG governance
Like our colleagues, our Board is guided by The Otis Absolutes and sets the tone for good governance 
practices. Our Board is composed of experienced global corporate executives and professionals with 
broad and deep multi-industrial and consumer industry knowledge, and with expertise in financial, risk and 
human capital management. These specific skills and attributes reflect the criteria that the Otis Board has 
identified as most relevant and desirable to support and guide Otis in excelling now and into the future.
Diversity in skills, background and experience among our Board members is critical to our business. 
The Nominations and Governance Committee of the Otis Board actively considers diversity during its 
recruitment and nominat
Keyword: governance
by women, including the Board Chair. The Nominations and Governance 
Committee is 100% diverse, with all the members – including the 
Committee Chair – being women, ethnically/racially diverse or both. 
Our governance structure reflects processes from across industries, providing the basis for effective 
Board oversight. Through our corporate governance structure, we exemplify strong, shareholder-friendly 
governance practices: 
•	 Annual election of directors 
•	 Robust independent Lead Director role 
•	 Proxy access 
•	 Shareholders can call special meeting (15% threshold) and act by written consent 
•	 Majority voting for directors 
•	 No supermajority voting provisions 
•	 No shareholder rights plan or poison pill plan 
	 *	 Leadership roles are defined as the Chair of the Otis Board, Lead Director and
Keyword: governance
Governance & Accountability
Appendix
ESG governance model
•	 Integrated, cross-functional 
initiative
•	 ESG strategy aligned with 
Otis’ culture, values and 
business strategies and 
objectives
•	 Objectives established in 
key areas, with continued 
discussion around longer-term 
approach
•	 The ESG Council and 
ESG Working Group meet 
frequently, a demonstration 
of Otis’ commitment to 
developing and maintaining 
a successful ESG program
NOMINATIONS 
AND GOVERNANCE 
COMMITTEE
CEO
ESG COUNCIL
ESG WORKING GROUP
Areas of oversight include, but 
are not limited to:
•	 Community giving, 
volunteerism and 
community engagement
•	 Corporate governance
•	 Ethics and compliance
•	 Health and safety
•	 Inclusion
•	 Investor Relations
•	 Supply chain
•	 Sus
Keyword: governance
Otis has developed an ESG governance model that 
supports our commitment to doing good in line with 
our business strategy. ESG matters impact every part 
of the business, and, accordingly, ESG governance 
is cross-functional. The ESG Council – composed of 
senior leaders representing key functions including 
Communications, EH&S, Human Resources, Investor 
Relations, Legal and Growth & Strategy – works 
closely with the ESG Working Group. The ESG 
Working Group, composed of subject matter experts 
across ESG issues material to our business, assists 
the ESG Council in developing and implementing 
the company’s ESG strategy. Both the ESG Council 
and ESG Working Group meet frequently, with the 
ESG Council reporting regularly to the CEO. 
ESG risks
Otis expressly considers a
Keyword: governance
ESG governance model 
The Board’s Nominations and Governance 
Committee has primary oversight of most ESG 
topics. In 2023, this committee received reports 
from management at every meeting concerning 
progress on key ESG objectives. The committee 
engaged in reviews of issues regarding climate-
related risks and opportunities, colleague health 
and safety, corporate social responsibility and 
giving, human capital management, inclusion, 
shareholder engagement on ESG topics, and 
supplier diversity. 
The Compensation Committee also oversees 
certain ESG aspects assigned by the Board, 
including human capital management, pay equity, 
major benefit changes and workforce talent. The 
Audit Committee oversees our ERM policies, which 
include ESG and cyberse
Keyword: governance
Governance & Accountability
Appendix
We also grant stock appreciation rights (SARs) and 
restricted stock units (RSUs) to drive retention and 
alignment with shareholders. The number of shares 
that an executive can earn under our PSUs depends 
upon the recipient’s continued employment, our 
achievement of three-year performance goals and 
our relative total shareholder return, never exceeding 
200% of the target PSUs awarded plus accumulated 
dividend equivalents. RSUs and SARs vest one-third 
per year, subject to continued employment.
For more information on our executive compensation 
practices and policies, see our 2024 Proxy Statement.
Inclusion 
accountability
To advance accountability and transparency of our 
inclusion progress, we have in pla
Keyword: governance
and intellectual property governance, controls and 
investments, refer to our latest Form 10-K.
Cybersecurity
The security of our products, services and corporate 
network is a key priority both for the growth of our 
business and our responsibilities as a leader in our 
industry. Otis has taken a risk-based approach to 
cybersecurity. We have implemented cybersecurity 
policies throughout our operations as part of our 
important digital transformation activities, including 
designing and incorporating cybersecurity into 
our products and services while they are being 
developed. We have a three-level governance 
model for managing cybersecurity risks, and 
we provide cybersecurity training and diligently 
monitor the threat landscape to protect against 
cyberattacks. The Aud
Keyword: governance
Governance & Accountability
Appendix
Quality
Quality is one of The Otis Absolutes, enabling safe, 
reliable products and installations, and earning us trust 
from our stakeholders. We take full responsibility 
for the workmanship and service we provide, act 
thoroughly to eliminate quality issues at their source, 
and respond quickly to resolve any problems and 
satisfy our customers. 
Our quality strategy is tailored to every level and 
across all functions, looking at Otis in a holistic 
way to determine how to operate more effectively, 
efficiently and sustainably. Key elements of this 
strategy include:
•	 Design quality: Ensuring quality at each stage 
of product development through comprehensive 
multifunctional governance oversight.
•	 Interna
Keyword: governance
Governance & Accountability
Appendix
	– Pay all workers a living wage and benefits 
that meet or exceed the applicable 
minimum wage and provide equal pay 
for equal work
	– Ensure that work hours are reasonable 
and do not exceed the maximum work 
hours established by law
	– Respect anti-corruption (including anti-
bribery), fair competition and antitrust rules 
	– Respect the legitimate proprietary rights 
and intellectual property (IP) rights of Otis 
and others
 
Specific to Quality:
•	 Have quality assurance processes and controls 
to identify defects, notify Otis and correct 
them to ensure delivery of products and 
services that meet all contractual, legal and 
regulatory requirements
•	 Properly complete all inspection and testing 
requiremen
Keyword: governance
Governance & Accountability
Appendix
Investigation and remediation 
in the supply chain
Per The Otis Absolutes and our Supplier Code 
of Conduct, we require all Otis colleagues and 
suppliers to report actual or suspected violations 
of applicable laws, regulations and policies, using 
any one of the many reporting channels discussed 
further on this page. We require our suppliers to 
facilitate the timely discovery, investigation and 
reporting of actual or suspected misconduct, and to 
implement appropriate corrective actions. We hold 
them accountable to cooperate in comprehensive 
and fair investigations with the participation of 
their own suppliers, as necessary. If an investigation 
concludes that a violation has occurred, appropriate 
correct
Keyword: governance
Governance & Accountability
Appendix
Compliance training: Otis adopts a risk-based 
approach for our compliance training program. We 
provide online training quarterly on topics such as 
human rights, modern slavery, anti-human trafficking, 
antitrust, conflicts of interest, protecting company 
data, cybersecurity, data protection, anti-harassment 
and anti-discrimination, and anti-corruption and 
anti-bribery. Completion rate for our quarterly online 
modules for salaried colleagues was more than 
97% in 2023. In addition, approximately 97% of our 
salaried colleagues have attested, through an annual 
certification in 2023, that they have read, understood 
and are committed to complying with The Otis 
Absolutes and Otis policies.
New hire training:
Keyword: governance
and Governance Committee. We also held one-
on-one meetings with investors throughout the 
year, offering multiple opportunities to share 
perspectives on topics of mutual interest, including 
ESG. In 2023, investors representing approximately 
30% of shares outstanding were invited to 
participate in these ESG-related conversations. In 
addition, our ESG information is readily accessible 
on our investors website.
Suppliers: Suppliers are an integral part of our 
business and sustainability journey. We engage 
with them to help protect human rights in the 
supply chain and look forward to expanding our 
collaboration to include a GHG emission reduction 
strategy. The reduction strategy will initially focus 
on the most carbon-intensive materials. 
2023
Keyword: governance
Governance & Accountability
Appendix
Appendix
2023 ESG REPORT
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ESG at Otis
Health & Safety
Environment & Impact
People & Communities
Governance & Accountability
Appendix
Global Reporting Initiative (GRI)
Otis Worldwide Corporation has reported the information cited in this GRI content index for the period 1/1/2023 to 12/31/23 with reference to the GRI Standards (GRI 1: Foundation 2021).
GRI STANDARD
DISCLOSURE
LOCATION/RESPONSE
GRI 2: General Disclosures 2021
The Organization and Its Reporting
2-1
Organizational details: Legal name and location of headquarters
Otis Worldwide Corporation
Farmington, CT 06032, USA
2-2
Entities included in the organization’s sustainability reporting: List all its entities discussed in sustainability reporting
2023 For
Keyword: governance
governance body and senior executives are involved
2023 ESG Report > Appendix > Third-party Assurance
2023 ESG REPORT
45
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Health & Safety
Environment & Impact
People & Communities
Governance & Accountability
Appendix
Global Reporting Initiative (GRI)
GRI STANDARD
DISCLOSURE
LOCATION/RESPONSE
Activities and Workers
2-6
Activities, value chain and other business relationships: Describe value chain 
2023 Form 10-K, pgs. 1-8
2-7
Employees: Total number of employees, and a breakdown of this total by gender and by region
2023 ESG Report > People & Communities > Workforce composition, talent hiring, 
development and retention
2023 Form 10-K, pg. 7
2023 EEO-1 Report
2-8
Workers who are not employees: Total number of workers who are not employees a
Keyword: governance
Governance
2-9
Governance structure and composition: Describe the governance structure, list the committees of the highest governance body that 
are responsible for decision-making on and overseeing the management of the organization’s impacts on the economy, environment, 
and people 
2024 Proxy Statement, pgs. 11-39
2-10
Nomination and selection of the highest governance body: Describe the criteria used for nominating and selecting 
highest governance body members, views of stakeholders, diversity, independence and competencies relevant to 
the impacts of the organization
2024 Proxy Statement, pgs. 11-37
2-11
Chair of the highest governance body: Report whether the chair of the highest governance body is also a senior executive in the 
organization,
Keyword: governance
Role of the highest governance body in overseeing the management of impacts: Describe the role of the highest governance body 
and of senior executives in developing, approving, and updating the organization’s purpose, value or mission statements, strategies, 
policies, and goals related to sustainable development
2024 Proxy Statement, pgs. 18-29
2023 Form 10-K, pg. 6
2-13
Delegation of responsibility for managing impacts: Describe how the highest governance body delegates responsibility for managing 
the organization’s impacts on the economy, environment, and people
2024 Proxy Statement, pgs. 18-20
2023 Form 10-K, pg. 6
2-14
Role of the highest governance body in sustainability reporting: Responsible for reviewing and approving the reported information, 
including the organization’s material topics. Describe the process for reviewing and approving
2024 Prox
Keyword: governance
Governance & Accountability
Appendix
Global Reporting Initiative (GRI)
GRI STANDARD
DISCLOSURE
LOCATION/RESPONSE
2-15
Conflicts of interest: Processes to ensure that conflicts of interest are prevented and mitigated
2024 Proxy Statement, pgs. 26; 89-90
Related Person Transactions Policy
The Otis Absolutes
2-16
Communication of critical concerns: How concerns are communicated to the highest governance body, report the total number and 
the nature of critical concerns during the reporting period  
2024 Proxy Statement, pgs. 18-20; 38-39
2-17
Collective knowledge of the highest governance body: Measures taken to advance collective knowledge and skills for the highest 
governance body on sustainable development 
2024 Proxy Statement, pgs. 12-14; 18-20; 2
Keyword: governance
Evaluation of the performance of the highest governance body: Overseeing the management of the organization’s impacts on the 
economy, environment, and people
2024 Proxy Statement, pgs. 18-20
2-19
Remuneration policies: Describe how the remuneration policies for members of the highest governance body and senior 
executives relate to their objectives and performance in relation to the management of the organization’s impacts on the economy, 
environment, and people  
2023 ESG Report > Governance & Accountability > Corporate and ESG governance > 
Executive compensation
2024 Proxy Statement, pgs. 40-41; 49-65
2-20
Process to determine remuneration: Process for designing its remuneration policies and for determining remuneration 
2024 Proxy Statement, pgs. 40-41; 43-65
2-21
Annual total compensatio
Keyword: governance
Governance & Accountability
Appendix
Global Reporting Initiative (GRI)
GRI STANDARD
DISCLOSURE
LOCATION/RESPONSE
Strategy, Policies and Practices
2-22
Statement on sustainable development strategy: CEO Letter or message
2023 ESG Report > A message from our CEO
2-23
Policy commitments: List of all policy commitments for business conduct 
The Otis Absolutes  
Supplier Code of Conduct
Otis Human Rights Position Statement
UK Modern Slavery Statement
Australia Modern Slavery Statement
Anti-Human Trafficking Governing the Otis Supply Chain Policy 
Anti-Corruption Policy
Conflicts Mineral Policy governing the Otis Supply Chain
Privacy Policy
Norway Transparency Act statement
German Supply Chain Act (click here and here).
2-24
Embedding policy commitments
20
Keyword: governance
23 ESG Report > Environmental, Social and Governance (ESG) pillars and their alignment 
with our business strategy
2023 ESG Report > Governance & Accountability > Responsible supply chain; 
Ethics and integrity
2024 Proxy Statement, pgs. 18-20
2-25
Processes to remediate negative impacts: Identify and address grievances 
2023 ESG Report > Governance & Accountability > Responsible supply chain; 
Ethics and integrity
2-26
Mechanisms for seeking advice and raising concerns: Process in raising concerns about the organization's code of conduct
2023 ESG Report > Governance & Accountability > Ethics and integrity
Reporting Channels
2-27
Compliance with laws and regulations: Report the total number of non-compliance instances with laws and regulations 
2023 Form 10-K, Note 21: Contingent Liabilities
Keyword: governance
Governance & Accountability
Appendix
Global Reporting Initiative (GRI)
GRI STANDARD
DISCLOSURE
LOCATION/RESPONSE
2-28
Membership associations: List of membership associations
2023 ESG Report > Governance & Accountability > Stakeholder engagement 
We are a member of Responsible Business Alliance, the National Elevator Industry Inc. (NEII), 
National Foreign Trade Council (NFTC), Connecticut Business Industry Association (CBIA) and 
Alliance for Competitive Taxation. Our CEO is a member of the Business Roundtable (and of 
its board) and Chair of its Trade & International Committee and Co-Chair of its China Working 
Group. She also is a member of the U.S.-India CEO Forum.
Stakeholder Engagement
2-29
Approach to stakeholder engagement: Describe how to en
Keyword: governance
2023 ESG Report > Governance & Accountability > Stakeholder engagement
2024 Proxy Statement, pgs. 38-39
2-30
Collective bargaining agreements: How the organization engages in collective bargaining with its employees
2023 ESG Report > People & Communities > Employment policies, conditions and 
labor relations
2023 Form 10-K, pg. 7
Material topics
GRI 3: Material Topics 2021
3-1
Process to determine material topics: Process in how to determine material topics
2023 ESG Report > Environmental, Social and Governance (ESG) pillars and their alignment 
with our business strategy
2021 ESG Report, pg.17
3-2
List of material topics: List of organization’s material topics, i.e. Materiality Matrix
2023 ESG Report > Environmental, Social and Governance (ESG) pillars and their alig
Keyword: governance
Governance & Accountability
Appendix
Global Reporting Initiative (GRI)
GRI STANDARD
DISCLOSURE
LOCATION/RESPONSE
GRI 200: Economic
GRI 205: Anti-corruption
3-3
Management of material topic
2023 ESG Report > Governance & Accountability > Responsible supply chain; Ethics 
and integrity
205-1
Operations assessed for risks related to corruption: Measures the extent of the risk assessment’s implementation 
across an organization
2023 ESG Report > Governance & Accountability > Ethics and integrity
205-2
Communication and training about anti-corruption policies and procedures: Total number and percentage of 
anti-corruption training
2023 ESG Report > Governance & Accountability > Ethics and integrity
205-3
Confirmed incidents of corruption and actions taken
Keyword: governance
2023 ESG Report > Governance & Accountability > Ethics and integrity > 
Independent and thorough investigations
GRI 300: Environmental
GRI 302: Energy
3-3
Management of material topic
2023 ESG Report > Environment & Impact > Climate > Renewable energy strategy
302-1
Energy consumption within the organization: Total fuel consumption within the organization from non-renewable and renewable 
sources
2023 ESG Report > Environment & Impact > Climate > Renewable energy strategy
302-2
Energy consumption outside of the organization: Upstream and downstream categories and activities from the GHG Protocol 
Corporate Value Chain (scope 3)
2023 ESG Report > Environment & Impact > Climate
302-3
Energy intensity: Types of energy included in the intensity ratio; whether fuel, electr
Keyword: governance
Governance & Accountability
Appendix
Global Reporting Initiative (GRI)
GRI STANDARD
DISCLOSURE
LOCATION/RESPONSE
GRI 303: Water and Effluents
3-3
Management of material topic
2023 ESG Report > Environment & Impact > Waste and water > Water use and conservation 
and wastewater treatment
303-1
Interactions with water as a shared resource: Interactions with water, how and where water is withdrawn, consumed, and discharged, 
and the water-related impacts
2023 ESG Report > Environment & Impact > Waste and water > Water use and conservation 
and wastewater treatment
303-2
Management of water discharge-related impacts: Controlling the quality of effluent discharge refers to the physical, chemical, 
biological, and taste-related characteristics of water
2023
Keyword: governance
Governance & Accountability
Appendix
Global Reporting Initiative (GRI)
GRI STANDARD
DISCLOSURE
LOCATION/RESPONSE
305-6
Emissions of ozone-depleting substances (ODS): Production, imports, and exports of ODS
2023 ESG Report > Environment & Impact > Climate
305-7
Nitrogen oxides (NOX), sulfur oxides (SOX), and other significant air emissions: Significant air emissions, NOX, SOX, POP, 
VOC, HAP, PM
2023 ESG Report > Environment & Impact > Climate
GRI 306: Waste
3-3
Management of material topic
2023 ESG Report > Environment & Impact > Waste and water
306-1
Waste generation and significant waste-related impacts: Impacts relate to waste generated in the organization’s own activities or 
to waste generated upstream or downstream in its value chain; types of
Keyword: governance
2023 ESG Report > Governance & Accountability > Responsible supply chain
308-1
New suppliers that were screened using environmental criteria: Percentage of suppliers selected or contracted subject to due 
diligence processes for environmental impacts
2023 ESG Report > Governance & Accountability > Responsible supply chain
308-2
Disclosure: Negative environmental impacts in the supply chain and actions taken: Percentage of suppliers identified as having 
significant actual and potential negative environmental impacts
2023 ESG Report > Governance & Accountability > Responsible supply chain > 
Investigation and remediation in the supply chain
2023 ESG REPORT
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Health & Safety
Environment & Impact
People & Communities
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Appendix
Glob
Keyword: governance
2023 ESG report > Governance & Accountability > Cybersecurity, data privacy and 
intellectual property
2023 ESG REPORT
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Environment & Impact
People & Communities
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Appendix
Global Reporting Initiative (GRI)
GRI STANDARD
DISCLOSURE
LOCATION/RESPONSE
403-7
Prevention and mitigation of occupational health and safety impacts directly linked by business relationships: A description of the 
organization’s approach to preventing or mitigating significant negative occupational health and safety impacts that are directly linked 
to its operations, products, or services 
2023 ESG Report > Health & Safety > The safety of our colleagues; The safety of 
our passengers
403-8
Workers covered by an occupational health and safety
Keyword: governance
Diversity of governance bodies and employees: Percentage of individuals within the organization, gender, age group 
and other indicators of diversity
2023 ESG Report > People & Communities > Workforce composition, talent hiring, 
development and retention
2023 EEO-1 Report
405-2
Ratio of basic salary and remuneration of women to men: Average pay of each gender grouping within each 
employee category
2023 ESG Report > People & Communities > Employment policies, conditions and 
labor relations
2023 ESG REPORT
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Health & Safety
Environment & Impact
People & Communities
Governance & Accountability
Appendix
Global Reporting Initiative (GRI)
GRI STANDARD
DISCLOSURE
LOCATION/RESPONSE
GRI 413: Local Communities
3-3
Management of material topic
2023 ESG Repor
Keyword: governance
2023 ESG Report > Governance & Accountability > Responsible supply chain
GRI 414: Supplier Social Assessment
3-3
Management of material topic
2023 ESG Report > Governance & Accountability > Responsible supply chain
414-1
New suppliers that were screened using social criteria: Percentage of suppliers selected or contracted subject to due diligence 
processes for social impacts
2023 ESG Report > Governance & Accountability > Responsible supply chain > 
Supplier code of conduct
414-2
Negative social impacts in the supply chain and actions taken: Organization’s awareness of significant actual and potential negative 
social impacts in the supply chain
2023 ESG Report > Governance & Accountability > Responsible supply chain > Investigation 
and remediation in the supply cha
Keyword: governance
2023 ESG Report > Governance & Accountability > Cybersecurity, data privacy 
and intellectual property
2023 Form 10-K, pgs. 16; 21-22
418-1
Substantiated complaints concerning breaches of customer privacy and losses of customer data: Total number of substantiated 
complaints received concerning breaches of customer privacy
Otis did not incur any material breaches of customer data. 
2023 Form 10-K, pg. 16
2023 ESG REPORT
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Health & Safety
Environment & Impact
People & Communities
Governance & Accountability
Appendix
Sustainability Accounting Standards Board (SASB)
This index was prepared with reference to the Resource Transformation industry SASB standard with accounting metrics from the Industrial Machinery & Goods industry standard included 
where deemed
Keyword: governance
2023 ESG Report > Governance & Accountability > Quality
Total amount of monetary losses as a result of legal 
proceedings associated with product safety
Quantitative
Presentation currency
RT-EE-250a.2
There is nothing more important to Otis than the safety of our colleagues, customers and passengers. 
We move 2.3 billion people every day, so infrequent accidents can happen, and claims for 
compensation can be brought. Otis has not disclosed the figure associated with these claims.
2023 ESG REPORT
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Health & Safety
Environment & Impact
People & Communities
Governance & Accountability
Appendix
Sustainability Accounting Standards Board (SASB)
TOPIC
ACCOUNTING METRIC
CATEGORY
UNIT OF MEASURE
CODE
RESPONSE/REFERENCE
Product Lifecycle 
Management
Percentage of
Keyword: governance
2023 ESG Report > Governance & Accountability > Responsible supply chain
2023 ESG REPORT
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Environment & Impact
People & Communities
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Appendix
Sustainability Accounting Standards Board (SASB)
TOPIC
ACCOUNTING METRIC
CATEGORY
UNIT OF MEASURE
CODE
RESPONSE/REFERENCE
Business Ethics
Description of policies and practices for 
prevention of: (1) corruption and bribery and 
(2) anti-competitive behaviour
Discussion and Analysis 
n/a
RT-EE-510a.1
2023 ESG Report > Governance & Accountability > Ethics and integrity; Responsible supply chain 
Otis Anti-Corruption Policy
Total amount of monetary losses as a result 
of legal proceedings associated with bribery 
or corruption
Quantitative
Presentation currency
RT-EE-510a.2
N
Keyword: governance
Governance & Accountability
Appendix
Task Force on Climate-related Financial Disclosures (TCFD)
DISCLOSURE FOCUS AREA
RECOMMENDED DISCLOSURE
COMMENTS
REFERENCE
Governance
Disclose the organization’s 
governance around 
climate-related risks 
and opportunities.
a) Describe the board’s oversight 
of climate-related risks and 
opportunities.
Otis’ Board and its committees engage in extensive review and oversight of ESG-related topics, including climate-related risk and 
opportunities. The Nominations and Governance Committee has primary oversight over most ESG topics, including the Otis ESG strategy 
and climate-related risks and opportunities. It also pursues its ESG oversight through the integration of governance best practices into the 
boardroom and
Keyword: governance
2023 ESG Report > Governance 
& Accountability > Corporate 
and ESG governance
b) Describe management’s role in 
assessing and managing climate-
related risks and opportunities.
Otis has developed an ESG Governance Model that supports its ESG efforts in line with its business strategy. Climate-related issues are 
a core component of our ESG program. As ESG matters impact every corner of the business, our ESG governance is cross-functional, 
involving team members from multiple functional and business areas. The ESG Council – representing key functions, including 
Communications, EH&S, Human Resources, Investor Relations, Legal, and Growth & Strategy – works closely with an ESG Working Group. 
Both the ESG Council and the ESG Working Group meet frequently, with the ESG
Keyword: governance
Governance Committee engaged in reviews of climate-related risks and opportunities.
2024 Proxy Statement, pgs. 18-20
2023 ESG Report > Governance 
& Accountability > Corporate 
and ESG governance
2023 CDP Climate Change Report 
C1.1a, C1.1b
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Health & Safety
Environment & Impact
People & Communities
Governance & Accountability
Appendix
Task Force on Climate-related Financial Disclosures (TCFD)
DISCLOSURE FOCUS AREA
RECOMMENDED DISCLOSURE
COMMENTS
REFERENCE
Strategy
Disclose the actual and 
potential impacts of climate-
related risks and opportunities 
on the organization’s 
businesses, strategy and 
financial planning.
a) Describe the climate-related risks 
and opportunities the organization 
has identified over the short
Keyword: governance
Governance & Accountability
Appendix
Task Force on Climate-related Financial Disclosures (TCFD)
DISCLOSURE FOCUS AREA
RECOMMENDED DISCLOSURE
COMMENTS
REFERENCE
Risk Management
Disclose how the organization 
identifies, assesses and 
manages climate-related risks.
a) Describe the organization’s 
processes for identifying and 
assessing climate-related risks.
The ERM process at Otis is focused on identifying and reporting of risks with reference to three criteria: 1) the severity of impact with 
respect to a variety of factors, including financial damages, settlements or fines; reputation; or operational impacts; 2) likelihood of 
impact; and 3) the status of mitigation efforts. Risk mitigation actions and monitoring related to ERM top risks are contin
Keyword: governance
2023 ESG Report > Governance 
& Accountability > Corporate 
and ESG governance > ESG risks
2023 CDP Climate Change 
Report C2.2
b) Describe the organization’s 
processes for managing 
climate-related risks.
c) Describe how processes 
for identifying, assessing, and 
managing climate-related risks are 
integrated into the organization’s 
overall risk management.
2023 ESG REPORT
61
ESG at Otis
Health & Safety
Environment & Impact
People & Communities
Governance & Accountability
Appendix
Task Force on Climate-related Financial Disclosures (TCFD)
DISCLOSURE FOCUS AREA
RECOMMENDED DISCLOSURE
COMMENTS
REFERENCE
Metrics and Targets
Disclose the metrics and targets 
used to assess and manage 
relevant climate-related risks 
and opportunities.
a) Disclose the metrics used by
Keyword: governance
Governance & Accountability
Appendix
Third-party assurance
 
WATER • ENVIRONMENTAL • HEALTH & SAFETY • COMPLIANCE & ASSURANCE • INFRASTRUCTURE SERVICES  
Apex Companies, LLC • (800) 733-2739 • www.apexcos.com 
INDEPENDENT LIMITED ASSURANCE STATEMENT 
 
To:  The Stakeholders of Otis Worldwide Corporation 
 
Introduction and objectives of work  
Apex Companies, LLC (Apex) has been engaged by Otis Worldwide Corporation (Otis) to provide limited assurance of its “select sustainability 
metrics including Scope 1 and Scope 2 (location-based and market-based) and select Scope 3 greenhouse gas (GHGs) emissions, percentage of 
renewable electricity consumed, hazardous waste generated, industrial process waste generated, recycled industrial process waste, indu
Keyword: governance
Governance & Accountability
Appendix
Otis Worldwide Corporation 
April 18, 2024 
Independent Limited Assurance Statement 
Page 2 
 
 
Reporting Criteria 
The Subject Matter needs to be read and understood together with the WRI/ WBCSD Greenhouse Gas Protocol: A Corporate Accounting and 
Reporting Standard (GHG Protocol) revised edition (Scope 1 and Scope 2), WRI/WBCSD Greenhouse Gas Protocol Corporate Value Chain (Scope 
3) Accounting and Reporting Standard (Scope 3) and Otis’ internal reporting requirements for facility environmental, health, safety and 
sustainability information. 
 
Limitations and Exclusions 
Excluded from the scope of our work is any assurance of information relating to: 
• 
Activities outside the defined assurance period;  
• 
P
Keyword: governance
Governance & Accountability
Appendix
Otis Worldwide Corporation 
April 18, 2024 
Independent Limited Assurance Statement 
Page 3 
 
 
Summary of Work Performed 
As part of our independent assurance, our work included:  
1. Assessing the appropriateness of the Reporting Criteria for the Subject Matter; 
2. Conducting interviews with relevant personnel of Otis;  
3. Reviewing the data collection and consolidation processes used to compile the Subject Matter, including assessing assumptions made, 
and the data scope and reporting boundaries; 
4. Reviewing documentary evidence provided by Otis;  
5. Agreeing to a selection of the Subject Matter to the corresponding source documentation; 
6. Reviewing Otis’ systems for quantitative data aggregation and an
Keyword: governance
Governance & Accountability
Appendix
Otis Worldwide Corporation 
April 18, 2024 
Independent Limited Assurance Statement 
Page 4 
 
 
Metric 
Value 
Units 
Scope 2 GHG Emissions (Market-Based) 
51,830 
Metric Tons 
CO2e 
Scope 3 Purchased Goods and Services 20231 
1,430,800 
Metric Tons 
CO2e 
Scope 3 Business Travel 2023 
7,000 
Metric Tons 
CO2e 
Scope 3 Use of Sold Products 2023 
5,942,800 
Metric Tons 
CO2e 
Percentage 
of 
Renewable 
Electricity 
Consumed 
33 
Percent 
Hazardous Waste Generated 
139 
Metric Tons 
Total Industrial Process Waste 
18,380 
Metric Tons 
Total Recycled Industrial Process Waste 
18,000 
Metric Tons 
Industrial Waste Recycling Rate 
98 
Percent 
Water Consumption 
153,900 
Thousand Liters 
TRIR 
0.60 
N/A 
LTIR 
0.19 
N
Keyword: governance
Governance & Accountability
Appendix
Otis Worldwide Corporation 
April 18, 2024 
Independent Limited Assurance Statement 
Page 5 
 
 
Statement of Independence, Integrity and Competence  
Apex is an independent professional services company that specializes in Health, Safety, Social and Environmental management services including 
assurance with over 30 years history in providing these services.  
Apex has implemented a Code of Ethics across the business to maintain high ethical standards among staff in their day-to-day business activities. 
No member of the assurance team has a business relationship with Otis, its Directors, or Managers beyond that required of this assignment.  We 
have conducted this verification independently and there has been no
Keyword: governance
Governance & Accountability
Appendix
Company names, trademarks and 
trade names
Otis and its subsidiaries’ names, abbreviations thereof, logos, and product and service designators 
are either the registered or unregistered trademarks or trade names of Otis and its subsidiaries. 
Names of other companies and organizations, abbreviations thereof, logos of other companies and 
organizations, and product and service designators of other companies are either the registered or 
unregistered trademarks or trade names of their respective owners.
Cautionary Statement 
This report contains forward-looking statements (including statements that constitute forward-looking 
statements under the securities laws), including, but not limited to, statements that relat
Keyword: governance
change and our intent to achieve certain environmental, social and governance plans, targets or 
goals, including operational impacts and costs associated therewith, and other statements that are 
not historical facts. These forward-looking statements are intended to provide management’s current 
expectations or plans for our future operating performance, based on assumptions currently believed 
to be valid. All such forward-looking statements are subject to risks and uncertainties, and our future 
results of operations could differ materially from our historical results or current expectations reflected 
by such forward-looking statements. The forward-looking statements are subject to future events, 
risks, uncertainties and other factors, many of which are beyond the control of the company, that could 
cause actua
Keyword: governance
Governance & Accountability
Appendix
Otis Worldwide Corporation
1 Carrier Place, Farmington, CT 06032 USA
otis.com
Keyword: bribe
and regulations (such as antitrust, anti-bribery and insider 
trading laws), conflicts of interest, political contributions 
and lobbying, equal employment opportunity, human rights 
and protecting health, safety and the environment. The 
Code also addresses cyber security, data privacy and the 
use of company information systems. 
New employees receive an electronic copy of the Code and 
are required to acknowledge they have reviewed and 
understand it. Through a combination of live and virtual 
platforms, we offer training on the Code. Annually, all 
employees must certify compliance with the Code and 
related policies and procedures. 
The Code explains the many ways that questions or 
concerns may be raised, including Oxy's Integrity Helpline, 
an anonymous toll-free compliance hotlin
Keyword: bribe
ANTI-CORRUPTION AND BRIBERY 
Oxy prohibits bribery in all forms. Everyone subject to the 
Code must understand and comply with the Foreign 
Corrupt Practices Act, the UK Bribery Act and any other 
applicable anti-bribery laws, regardless of their location or 
nationality. 
ETHICAL BUSINESS STANDARDS WITH 
PARTNERS, SUPPLIERS AND CONTRACTORS 
Oxy strives to work with partners, suppliers and contractors 
who share our commitment to ethical business practices, 
health and safety, people and the environment. As a part of 
Oxy’s compliance program, Oxy evaluates prospective 
business partners, contractors, suppliers and agents and 
conveys our expectation that they must comply with Oxy’s 
policies, including the Code. Our international procurement 
contracts include provi
Keyword: corruption
ANTI-CORRUPTION AND BRIBERY 
Oxy prohibits bribery in all forms. Everyone subject to the 
Code must understand and comply with the Foreign 
Corrupt Practices Act, the UK Bribery Act and any other 
applicable anti-bribery laws, regardless of their location or 
nationality. 
ETHICAL BUSINESS STANDARDS WITH 
PARTNERS, SUPPLIERS AND CONTRACTORS 
Oxy strives to work with partners, suppliers and contractors 
who share our commitment to ethical business practices, 
health and safety, people and the environment. As a part of 
Oxy’s compliance program, Oxy evaluates prospective 
business partners, contractors, suppliers and agents and 
conveys our expectation that they must comply with Oxy’s 
policies, including the Code. Our international procurement 
contracts i
Keyword: corruption
background checks designed to identify past corruption or 
fraud as well as human rights violations that have been 
confirmed through publicly available resources. 
Our procurement contracts routinely include provisions 
regarding the observance and protection of human rights 
and adherence to ethical business conduct. Foreign 
contracts include provisions with respect to the 
observance of human rights, as warranted, based on the 
nature and risks of the types of goods or services to be 
provided as well as applicable laws relating to human 
rights. Certain locations and types of activities receive 
additional due diligence or training. 
Oxy encourages employees and contractors to report 
suspected violations of company policies, including the 
Human Rights Policy, and provides several avenue
Keyword: tax
sales, and severance taxes, out of a total of $4.3 billion paid 
in taxes globally.  In 2022, Oxy also invested more than $24 
million directly toward community and social investments, 
beyond our robust investments in our workforce, assets, 
and infrastructure. 
 65
ADVANCING OUR SHARED FUTURE: OXY 2023 SUSTAINABILITY REPORT
$24 million
During 2022, Oxy invested more than $24 million 
directly toward community and social investments, 
beyond our robust investments in our workforce, 
assets, and infrastructure. 
HEALTH & SAFETY  
Health, safety, and well-being are fundamental to 
everything we do at Oxy and to the communities where we 
live and work. That’s why we support a multitude of health 
and safety partnerships and initiatives in host 
communities—specificall
Keyword: tax
Total Taxes and Royalties Paid
Total Taxes Paid (US$, millions)
4,330 
2,280 
2,170 
3,847 
GOV-4: C4
Not Applicable
Not Applicable
Not Applicable
U.S.
3,255 
1,569 
1,654 
2,169 
GOV-4: C4
Not Applicable
Not Applicable
Not Applicable
Non-U.S.
1,074 
712 
516 
1,678 
GOV-4: C4
Not Applicable
Not Applicable
Not Applicable
Social Investments and Charitable Giving[24]
Social Investments, global (US$, millions)
22.7 
19.6 [25] 
21.1
35.2
SOC-13: C2
Not Applicable
GRI 201-1
11.21.1
Charitable Giving, (US$, millions) [26]
1.5 
2.9 
6.1
3.6
SOC-13: A2
Not Applicable
GRI 201-1
11.21.1
Total Annual Capital Expenditures
Total Annual Capital Expenditures (US$, millions)
4,497 
2,870 
2,535 
6,367 
Not Applicable
Not Applicable
Not Applicable
Not Applicable
Total
Keyword: tax
difficulties integrating businesses, uncertainty associated with financial projections, projected synergies, restructuring, increased costs and adverse tax consequences; uncertainties and 
liabilities associated with acquired and divested properties and businesses; uncertainties about the estimated quantities of oil, natural gas and natural gas liquids reserves; lower-than-
expected production from development projects or acquisitions; Oxy’s ability to realize the anticipated benefits from prior or future streamlining actions to reduce fixed costs, simplify or 
improve processes and improve Oxy’s competitiveness; exploration, drilling and other operational risks; disruptions to, capacity constraints in, or other limitations on the pipeline systems 
that deliver our oil and natural gas and other processing and transportation considerations; volatility in the securities, capital or credit marke
Keyword: tax
assessments); legislative or regulatory changes, including changes relating to hydraulic fracturing or other oil and natural gas operations, retroactive royalty or production tax regimes, 
and deep-water and onshore drilling and permitting regulations; our ability to recognize intended benefits from our business strategies and initiatives, such as our low carbon ventures 
businesses or announced GHG emissions reduction targets or net-zero goals; climate change and other macro events that cannot be predicted over the next 30 years; potential liability 
resulting from pending or future litigation, government investigations and other proceedings; disruption or interruption of production or manufacturing or facility damage due to accidents, 
chemical releases, labor unrest, weather, power outages, natural disasters, cyber-attacks, terrorist acts or insurgent activity; the creditworthiness and performance of Oxy's 
coun
Keyword: tax
labor constraints; reorganization or restructuring of our operations; changes in state, federal or international tax rates; actions by third parties that are beyond our control; and the factors 
set forth in Part I, Item 1A “Risk Factors” of Oxy’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and in Oxy’s other filings with the U.S. Securities and Exchange 
Commission (SEC). Unless legally required, Oxy does not undertake any obligation to update, modify or withdraw any forward-looking statements as a result of new information, future 
events or otherwise. Targets and expected timing to achieve targets and strategies are subject to change without notice due to a number of factors. Inclusion of information in this report 
does not necessarily indicate such information is material to an investor in our securities. 
ABOUT OUR GHG EM
Keyword: tax
fees or taxes on emissions. Given the potential significance of these changes for estimation and reporting, Oxy may update or modify our reported emissions and our current suite of GHG 
goals and targets to reflect new regulations and protocols, although we expect to retain our overarching net-zero goals and ambitions and to continue to implement emissions reduction 
plans that we believe will complement our investments in Direct Air Capture (DAC), Carbon Capture, Utilization and Storage (CCUS) and other low-carbon technologies and infrastructure.
[23] The Board’s composition for the 2022 column reflects Board members active as of March 23, 2023.
[24] Defined as U.S. charitable contributions and international social projects and community investments by
Keyword: governance
PRINCIPLES OF GOVERNANCE
Sustainability Strategy	
13
Board of Directors	
15
Risk Management and Strategic Planning	
18
Business Ethics and Code of Business Conduct	
19
Public Policy Engagement and Lobbying	
20
PLANET
Environmental Stewardship at Oxy	
23
Climate Policy Positions	
24
Climate Strategy: Building to Net-Zero	
25
Greenhouse Gas Emissions, Methane and Flaring	
30
Energy Utilization and Efficiency	
34
Water Stewardship	
37
Waste Management	
43
Spill Prevention	
44
Biodiversity, Land Use and Remediation	
45
PEOPLE
Advancing Human Capital	
49
Diversity, Inclusion and Belonging	
51
Workforce Development and Learning	
54
Health, Safety and Well-Being	
56
Operating Management System	
59
Product Stewardship	
62
Human Rights	
63
PROSPERITY
Community Engagement a
Keyword: governance
of People, Planet, Prosperity and Governance. We support 
these pillars with five key types of investments: workforce, 
community, environment, infrastructure, and solutions. 
In 2022, Oxy's employee safety performance remained 
better than our robust pre-Covid levels with an OSHA injury 
and illness incidence rate for employees of 0.26, excluding 
Covid cases.  We safely completed multiple major 
maintenance turnarounds across our operations. For 2023, 
the company set three safety priorities in conjunction with 
our contractors that are aimed at reducing incident 
severity, improving contractor safety performance, and 
harmonizing safety systems, programs and tools.
We strive to recruit, develop, and retain the best talent in a 
competitive marketplace. Oxy’s human capital initiati