exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: tax
Associations and Tax-exempt 
Organizations* and Lobbying Firms
$3,809
$3,329
$3,053
$3,165
Total 
$3,828
$3,339
$3,060
$3,173
SOC (19): Policy-Related Spending
Units: USD, thousands
* Includes policy-related portion of membership only
Assessment of the health and safety impacts of product and service categories 416-1
Minimizing Product Risk
Linde has a team of business, engineering, operations and safety professionals that examine the potential environmental, health and safety risks of 
every new product. The entire life cycle of the product — from raw material procurement through manufacturing, distribution, use and disposal — is 
reviewed. 40 3-7
Significant product or service categories are covered by and assessed for compliance with these procedures.
• Ris
Keyword: tax
Tax 
GRI 3: Material  
Topics 2021 
3-3 Management of material 
topics 
See Sustainable Development 
Report, pages 46–47. 
 
GRI 207: Tax 2019 
207-1 Approach to tax 
See Sustainable Development 
Report, page 49. 
 
207-2 Tax governance, 
control, and risk management 
See Sustainable Development 
Report, page 49. 
 
126 
Linde 2023 Sustainable Development Report  
 
 
 
 
 
207-3 Stakeholder 
engagement and 
management of concerns 
related to tax 
See Sustainable Development 
Report, page 49. 
 
207-4 Country-by-country 
reporting 
See pages 20 and 66 of the 
2023 Annual Report (10K) at: 
https://assets.linde.com/-
/media/global/corporate/co
rporate/documents/investors
/full-year-financial-
reports/2023-annual-report-
to-security-holders.pdf.
Keyword: governance
S&P 500. Strong economic performance, alongside Linde’s track record across other environmental, social and governance aspects, is a contributor 
to our presence in DJSI World for the twenty-first year, title as One of the World’s Most Ethical Companies and other external recognition. While I feel 
proud about these achievements, we are constantly striving for further improvement. We had a strong start to 2024—and we are gearing up to work 
on our newest targets, which expand our commitments to decarbonization, waste reduction and water stewardship, while also deeply embedding 
sustainability knowledge throughout the organization.
Almost 150 years after Carl von Linde’s groundbreaking inventions, we are a company rooted in our rich heritage of technology and innovation. It is 
that history, which inspires us every day, to live up to our mission and make th
Keyword: governance
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Keyword: governance
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Keyword: governance
Governance
2-9
34
Linde 2023 Sustainable Development Report
2023 Strategic and Non-Financial Performance Goals
Examples of 2023 actions include:
•
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Keyword: governance
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Keyword: governance
on the governance 
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routine membership 
dues
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Keyword: governance
Linde’s Sustainability Committee Plays Important Role in ESG Governance
Linde’s Board Sustainability Committee has been in place for 3 years and has an essential role in the oversight of  
environmental matters, including climate change, sustainable productivity, water conservation and management, energy 
consumption, product stewardship and waste. The Committee also provides counsel to the organization on the strategies, 
risks and opportunities associated with climate change. Since its inception the committee has regularly reviewed 
progress toward the company’s environmental goals and actions for climate transition. 
The committee is chaired by Dr. Thomas Enders, former CEO of Airbus SE, who brings a wealth of experience in risk 
management and operational excellence. “Sustainability is fast-moving, with in
Keyword: governance
The significance of Linde's economic and governance PFs and targets in the context of external benchmarks and stakeholder priorities is explained in
the Materiality, Priorities and Targets: SD 2028 section, page 14.
Linde 2023 Sustainable Development Report 
53
Proportion of spending on local suppliers 204-1
Note: This section responds to 204-1 and also responds to 2-6 and 2-8.
Policy
Linde’s Supplier Code of Conduct (SCOC) is available on its website at: https://www.linde.com/about-us/procurement.
Suppliers, contractors and third parties play a critical role in Linde’s ability to operate and provide products and services to its customers. Suppliers' 
actions and practices also reflect on Linde. Therefore, the company chooses suppliers carefully based on merit and a due diligence process. L
Keyword: governance
Diversity of governance bodies and employees 405-1
Global Diversity and Inclusion is a formal support function operating under Corporate HR and develops strategies and initiatives within four pillars: 
Talent Management, Inclusive Culture, Managerial Training and Marketplace Branding.
Linde's Board of Directors, CEO and Executive Leadership Team monitor results by business group in diverse representation at all levels of the talent 
pipeline, including senior leadership, talent acquisition, talent development and advancement, managerial training and workplace culture and 
engagement. This oversight, which includes quarterly reviews, provides accountability for business leaders and ensures that diversity and inclusion is 
sustained as a top priority for the organi
Keyword: governance
• Conflict Minerals: Based on Linde's commitment to governance, compliance and human rights, the most salient human rights issue associated with 
Linde activities and business relationships is the issue of potential "conflict minerals" in its supply chain. Certain minerals (including tin, tantalum, 
tungsten and gold) have been linked with funding killings, violence, rape and other human rights abuses in the Democratic Republic of Congo and 
other conflict zones. These affect all citizens in these regions, especially women, children and adolescents. 
  
Linde has determined that approximately 10 percent of its 2023 consolidated sales relate to products that Linde manufactures, or contracts to 
manufacture, that may contain necessary conflict minerals. To mitigate potential human rights violations in t
Keyword: governance
2-9 Governance structure 
and composition 
See Sustainable Development 
Report, page 33. See also 
https://www.linde.com/abo
ut-us/corporate-
governance/board-of-
directors. 
 
2-10 Nomination and 
selection of the highest 
governance body 
See pages 21 and 30 of 
Linde’s Proxy Statement at: 
https://irpages2.eqs.com/w
ebsites/lindeplc/English/321
0/us-sec-
filing.html?shortDesc=Proxy%
20Statement%20%28definitiv
e%29&secFilingId=c677dbae-
2634-420d-b18b-
2f08efe54fc1&format=html. 
 
2-11 Chair of the highest 
governance body 
See pages 8 and 14 of Linde’s 
Proxy Statement at: 
https://irpages2.eqs.com/w
ebsites/lindeplc/English/321
0/us-sec-
filing.html?shortDesc=Proxy%
20Statement%20%28definitiv
e%29&secFilingId=c677dbae-
2634-420d-b18b-
2f08efe54fc1&fo
Keyword: governance
governance body in 
overseeing the management 
of impacts 
See pages 10–12, 15 and 17 of 
Linde’s Proxy Statement at: 
https://irpages2.eqs.com/w
ebsites/lindeplc/English/321
0/us-sec-
filing.html?shortDesc=Proxy%
20Statement%20%28definitiv
e%29&secFilingId=c677dbae-
2634-420d-b18b-
2f08efe54fc1&format=html. 
 
2-13 Delegation of 
responsibility for managing 
impacts 
See page 11 of Linde’s Proxy 
Statement at: 
https://irpages2.eqs.com/w
ebsites/lindeplc/English/321
0/us-sec-
filing.html?shortDesc=Proxy%
20Statement%20%28definitiv
e%29&secFilingId=c677dbae-
2634-420d-b18b-
2f08efe54fc1&format=html. 
 
2-14 Role of the highest 
governance body in 
sustainability reporting 
See page 2 of Linde’s 
Sustainability Committee’s 
Charter at 
https://assets.
Keyword: governance
e-governance/sustainability-
committee-charter.pdf. 
2-15 Conflicts of interest 
See pages 20–21 of Linde’s 
Proxy Statement at: 
https://irpages2.eqs.com/w
ebsites/lindeplc/English/321
0/us-sec-
filing.html?shortDesc=Proxy%
20Statement%20%28definitiv
e%29&secFilingId=c677dbae-
2634-420d-b18b-
2f08efe54fc1&format=html. 
 
2-16 Communication of 
critical concerns 
See page 17 of Linde’s Proxy 
Statement at: 
https://irpages2.eqs.com/w
ebsites/lindeplc/English/321
0/us-sec-
filing.html?shortDesc=Proxy%
20Statement%20%28definitiv
e%29&secFilingId=c677dbae-
2634-420d-b18b-
2f08efe54fc1&format=html.  
See also page 2 of Linde’s 
Audit Committee’s Charter at 
https://assets.linde.com/-
/media/global/corporate/co
rporate/documents/corporat
e-governance/audit-
Keyword: governance
the highest governance body 
See pages 30 and 31–40 of 
Linde’s Proxy Statement at: 
https://irpages2.eqs.com/w
ebsites/lindeplc/English/321
0/us-sec-
filing.html?shortDesc=Proxy%
20Statement%20%28definitiv
e%29&secFilingId=c677dbae-
2634-420d-b18b-
2f08efe54fc1&format=html.   
 
2-18 Evaluation of the 
performance of the highest 
governance body 
See pages 15–16 of Linde’s 
Proxy Statement at: 
https://irpages2.eqs.com/w
ebsites/lindeplc/English/321
0/us-sec-
filing.html?shortDesc=Proxy%
20Statement%20%28definitiv
e%29&secFilingId=c677dbae-
2634-420d-b18b-
2f08efe54fc1&format=html.   
 
2-19 Remuneration policies 
See pages 47–55 and 57 of 
Linde’s Proxy Statement at: 
https://irpages2.eqs.com/w
ebsites/lindeplc/English/321
0/us-sec-
filing.html?shortDesc=Proxy
Keyword: governance
207-2 Tax governance, 
control, and risk management 
See Sustainable Development 
Report, page 49. 
 
126 
Linde 2023 Sustainable Development Report  
 
 
 
 
 
207-3 Stakeholder 
engagement and 
management of concerns 
related to tax 
See Sustainable Development 
Report, page 49. 
 
207-4 Country-by-country 
reporting 
See pages 20 and 66 of the 
2023 Annual Report (10K) at: 
https://assets.linde.com/-
/media/global/corporate/co
rporate/documents/investors
/full-year-financial-
reports/2023-annual-report-
to-security-holders.pdf. 
 
Environmental  
Materials 
GRI 3: Material  
Topics 2021 
3-3 Management of material 
topics 
See Sustainable Development 
Report, pages 58–60. 
 
GRI 301: Materials 2016 
301-1 Materials used by 
weight or volume 
See Sustainable
Keyword: governance
405-1 Diversity of governance 
bodies and employees 
See Sustainable Development 
Report, pages 92–93. 
Partial omission. The following is not 
disclosed: 405-1(b)(ii) Percentage of 
employees by age in breakdown other than 
total population and 405-1(b)(iii) Percentage 
of employees by minority group, other than 
in executive leadership. Reason: 
Confidentiality constraints. Linde considers 
additional information regarding human 
resources data as business confidential and 
does not disclose this publicly. 
405-2 Ratio of basic salary 
and remuneration of women 
to men 
See Sustainable Development 
Report, page 93. 
 
Non-discrimination 
GRI 3: Material  
Topics 2021 
3-3 Management of material 
topics 
See Sustainable Development 
Report, pages 80–81. 
 
GRI 406: No
Keyword: bribe
address bribery and corruption, 
antitrust and fair competition, 
conflicts of interest and gifts and 
entertainment, health and safety, 
financial reporting, insider trading, 
data privacy, discrimination and 
other areas of risk. We periodically 
train our employees on these and 
other governance topics, including 
cybersecurity.  
Reporting 
Our employees are encouraged 
to report activity they believe to 
be illegal or unethical. We have 
communicated through our Code 
of Ethics and through our training 
program how our employees can 
report concerns. We provide multiple 
ways that employees can report 
concerns, including through our 
Ethics Hotline, which provides a 
confidential reporting option. We will 
not retaliate against anyone who 
makes a g
Keyword: corruption
address bribery and corruption, 
antitrust and fair competition, 
conflicts of interest and gifts and 
entertainment, health and safety, 
financial reporting, insider trading, 
data privacy, discrimination and 
other areas of risk. We periodically 
train our employees on these and 
other governance topics, including 
cybersecurity.  
Reporting 
Our employees are encouraged 
to report activity they believe to 
be illegal or unethical. We have 
communicated through our Code 
of Ethics and through our training 
program how our employees can 
report concerns. We provide multiple 
ways that employees can report 
concerns, including through our 
Ethics Hotline, which provides a 
confidential reporting option. We will 
not retaliate against anyone who 
makes a good faith repor
Keyword: tax
tax credits expired. Moreover, the increased feasibility of in-
person volunteering allowed our business units to bring more 
employee groups back to food banks, Habitat for Humanity 
sites, and even volunteer opportunities held inside the 
workplace using paid Volunteer Time Off programs.  
 
Learn more about our impact in our 2022 Giving Report.
Masco Corporate and 
Business Unit Giving 2022
7.3
50+
$
Million
Nonprofits
given in corporate and 
business unit cash 
donations to over 340 
nonprofits across the 
U.S. and Canada
donated through 
in-kind products
received funds 
during the fifth year 
of our Masco Million 
Differences diversity, 
equity and inclusion 
program
donated through our 
1:1 Matching Gift 
Program, benefiting 550 
nonprof
Keyword: governance
Governance....................................................................................................... 12
Ethics and Compliance Program ............................................................................................................................... 13
Our Code of Ethics .................................................................................................................................................. 13
Our Policies ............................................................................................................................................................ 13
Reporting ..................................................................................................................................
Keyword: governance
Corporate Governance and Nominating Committee..................................................................................................... 15
RISK MANAGEMENT ...................................................................................................................................................................... 16
Board Oversight....................................................................................................................................................... 16
Data Protection and Cybersecurity............................................................................................................................. 17
Supplier Business Practices Policy ...................................................................
Keyword: governance
environmental, social and governance (ESG) initiatives.  
Our sustainability efforts are rooted in our commitment to conduct business in a manner that is mindful of our 
environmental impact; create innovative products that our customers trust; maintain our high standards of ethics; 
be a catalyst for good in the community; and promote and support the health, safety, skills and potential of our 
workforce. This approach helps us earn the trust of our customers, attract talented employees, and share in the 
responsibility to protect our planet and its people. 
Our employees are a core enabler of our ability to be a conscientious corporate citizen; it is the work they do that 
brings our commitment to life every day. We are pleased with our progress and proud to share a few of
Keyword: governance
memberships, governance, participation in projects or committees, funding beyond routine dues, or other strategic forms 
of involvement. We are members in a number of organizations which acknowledge the importance of sustainable business 
practices. These memberships include:
•	 AliaRSE (promoting Mexican 
business ethics and 
environmental responsibility) 
•	 American Chemical Society 
•	 American Coatings Association 
•	 American Lighting Association 
•	 American Society of Safety 
Engineers 
•	 American Supply Association 
•	 Board of Certified Safety 
Professionals (BCSP)  
 
•	 Canadian Paint and Coatings 
Association 
•	 Conflict-Free Sourcing Initiative 
•	 Equal Employment Action 
Committee 
•	 Green Chemistry and Commerce 
Council 
•	 Human Resource Poli
Keyword: governance
GOVERNANCE 
At Masco, we have a high-performance ethical culture and foster a mindset of continuous improvement that enables the 
growth of our employees, both personally and professionally. Whether it’s product, people or process, we strive to make 
everything we touch better. This everyday focus on continuous improvement translates to a genuine human impact— 
creating better living spaces, better work environments and better communities.  
Our high-performance ethical culture reflects our values:  
We value teamwork and trust. We foster openness and 
candor, supporting courageous conversations. We assume 
positive intentions and believe there is a shared desire for 
the best Masco outcome.
We appreciate that the basis of our advantage is people; 
w
Keyword: governance
governance principles and 
practices. Our Audit Committee 
has oversight responsibility 
for compliance with legal 
and regulatory requirements, 
including our employees’ and 
directors’ compliance with our 
Code of Ethics.  
•	 Our Vice President, General 
Counsel and Secretary has 
executive oversight responsibility 
for our Ethics and Compliance 
Program.  
•	 Our Company’s management 
is responsible for creating a 
positive workplace culture that 
encourages and demonstrates 
ethical leadership and respect 
for others.  
•	 Our employees around the world 
learn about our ethical culture 
through multiple channels and 
in multiple languages and are 
expected to live by our Code of 
Ethics every day.  
Our Code of Ethics 
Our Code of Ethics require
Keyword: governance
governance/.
Our Policies 
We have formal written policies that 
address bribery and corruption, 
antitrust and fair competition, 
conflicts of interest and gifts and 
entertainment, health and safety, 
financial reporting, insider trading, 
data privacy, discrimination and 
other areas of risk. We periodically 
train our employees on these and 
other governance topics, including 
cybersecurity.  
Reporting 
Our employees are encouraged 
to report activity they believe to 
be illegal or unethical. We have 
communicated through our Code 
of Ethics and through our training 
program how our employees can 
report concerns. We provide multiple 
ways that employees can report 
concerns, including through our 
Ethics Hotline, which provides a 
confidential
Keyword: governance
Governance and Nominating Committee, 
and each functions pursuant to a written 
charter adopted by our Board. The 
members of these three committees 
qualify under the independence and 
experience requirements applicable to us, 
including requirements of the New York 
Stock Exchange.  
Following is information about each 
committee, subject to any changes that our 
Board may make from time to time. 
 
Male
73%
Racially/
Ethnically 
Diverse
18%
Female
27%
White
82%
RANGE OF DIRECTOR TENURE
The balanced tenure of our Board provides us with both fresh perspectives and deep Company and industry knowledge.
Our directors are
91%
Independent
Our committee members are
100%
Independent
CURRENT CHAIR 
OF THE BOARD: 
Lisa A. Payne
Our Board at a Glance
3 | 0-4
Keyword: governance
Corporate Governance and Nominating Committee 
All members are independent. Our Corporate Governance and 
Nominating Committee is responsible for:  
•	 advising our Board on the governance structure and conduct of our 
Board 
•	 developing and recommending to our Board appropriate corporate 
governance guidelines and policies 
•	 Board succession planning, including reviewing our Board’s structure 
and composition and the tenure of our directors 
•	 reviewing and reassessing the adequacy of the Company’s Political 
Contributions Policy, and annually reviewing the Company’s political 
contributions 
•	 reviewing the independence of our directors  
•	 identifying and recommending qualified individuals for nomination 
and re-nomination to our Board 
•	 recommendi
Keyword: governance
In addition, our Corporate Governance and Nominating Committee 
reviews and discusses with management significant risks related to 
corporate governance.  
For additional details regarding Masco’s governance structure, go to 
www.masco.com/about/corporate-governance/. 
16
Return to Table of Contents
Risk Management 
Board Oversight
Each year our Board holds a strategy session in which management and our directors discuss how we are executing 
our current strategic objectives and developing our long-term strategy. In 2022, our Board’s strategy session included 
discussions with the General Managers of several of our business units. The session also included a discussion with a 
housing market expert and a financial advisory firm to provide our directors with an external perspec
Keyword: governance
and our corporate governance practices. Our Board and its Committees receive regular updates on our ESG initiatives, 
focus areas and activities throughout the year. In addition, our Board reviews and discusses with management this 
Corporate Sustainability Report prior to its publication. 
17
Return to Table of Contents
 
Data Protection and Cybersecurity  
Masco is committed to the privacy and security of our 
own information and the information of our employees, 
suppliers, customers and consumers. Masco complies 
with applicable domestic and international data 
protection legal requirements, including the EU General 
Data Protection Regulations (GDPR). We continuously 
monitor our information technology systems and our 
cybersecurity and data privacy responsibilit
Keyword: governance
•	 Governance, accountability and engagement across 
our family of companies to drive progress. 
•	 Communicating progress and opportunities for 
continuous improvement towards our enterprise-wide 
measurable goals.  
•	 Maturing our leader-led, intersectional DE&I councils at 
our business units.  
•	 Enabling the infusion and integration of DE&I into 
various learning opportunities throughout the business 
to drive awareness, build key capabilities (such as 
allyship), spur critical conversations, and drive action. 
•	 Continuously improving our talent practices and 
mitigating any potential biases through various test 
and learn initiatives (see “Inclusive Talent Practices”).  
•	 Providing more consistent and transparent 
communications internally a
Keyword: governance
Governance Structure, Brands, 
Products and Services, Markets 
Served, Facilities, Countries of 
Operation, Workforce, Collective 
Bargaining, Supply Chain, 
Stakeholder Engagement, Data 
Protection  
•	 Economic: Economic Performance, 
Revenue from Sustainable 
Products, Innovation  
•	 Environmental: Energy, Water, 
Emissions, Waste  
•	 Social: Diversity & Equal 
Opportunity, Local Communities, 
Occupational Health and 
Safety, Training and Education, 
Employment, Non-Discrimination, 
Child Labor, Forced or Compulsory 
Labor, Freedom of Association 
Except where otherwise noted, 
this report provides a summary 
of the sustainability performance 
and practices of Masco and its 
consolidated operating businesses as 
of December 31, 2022. 
 
 
While
Keyword: governance
on Masco’s corporate governance, 
reporting approach, and economic, 
social and environmental performance 
during 2022.    
External Assurance  
External report assurance was not 
sought for this report.  
Date of Previous Report 
Our most recent Corporate 
Sustainability Report was for 2021.   
Reporting Cycle  
This report is planned to be published 
at least biennially.  
 
 
 
Report Contact  
Masco encourages feedback on its 
Corporate Sustainability Report. 
If you would like to comment on 
the report, please e-mail us at 
sustainabilityreport@mascohq.com. 
Additional information about Masco, 
our business units and brands is 
available on our website at  
www.masco.com and in our 2022 
Annual Report, which is also available 
on our website. 
Reporting profile  
Ap
Keyword: governance
our corporate governance, ESG and 
executive compensation programs. 
In 2022, we continued our robust 
shareholder engagement program. 
In both the spring and the fall, 
we requested the opportunity to 
engage with shareholders holding 
approximately 55 percent of 
our outstanding shares. Of the 
shareholders with which we engaged, 
we discussed our recent Board 
refreshment, our robust orientation 
process for new directors and new 
Board leaders, as well as our Board’s 
oversight of ESG and our recent ESG 
initiatives. We provide reports on the 
shareholder feedback we received 
to our Compensation and Talent 
Committee and Corporate Governance 
and Nominating Committee. 
Masco’s suppliers are engaged through 
our enterprise-wide Supplier Business 
Practices Pol
Keyword: governance
Governance 
structure and 
composition
Board 
Oversight
16
Identification 
and 
assessment 
of risks
Organization's 
processes 
for identifying 
and assessing 
climate-related 
risks
2-23
Policy 
commitments
External 
Initiatives
23
Data 
Protection and 
Cybersecurity
17
16
Peace, 
justice, 
and strong 
institutions
Profile
6
2-1
Organizational 
details
Brands, 
Products and 
Markets
7
2-6
Activities, value 
chain and 
other business 
relationships
Significant 
changes
7
2-6
Activities, value 
chain and 
other business 
relationships
Workforce
8
2-7
Employees 
10
Reduced 
inequalities
Collective 
Bargaining
8
2-30
Collective 
bargaining 
agreements
8
Decent 
work and 
economic 
growth
Supply Chain
8
2-6
Activities, value 
chain and 
other business 
r
Keyword: bribe
We have formal written policies that address bribery 
and corruption, antitrust and fair competition, conflicts 
of interest and gifts and entertainment, health and 
safety, financial reporting, insider trading, data privacy, 
discrimination and other areas of risk. We periodically 
train our employees on these and other governance 
topics, including cybersecurity.  
Reporting 
Our employees are encouraged to report activity they 
believe to be illegal or unethical. We have communicated 
through our Code of Ethics and through our training 
program how our employees can report concerns. 
We provide multiple ways that employees can report 
concerns, including through our Ethics Hotline, 
which provides a confidential reporting option and an 
anonymous reporting option where permitted by law, a
Keyword: corruption
and corruption, antitrust and fair competition, conflicts 
of interest and gifts and entertainment, health and 
safety, financial reporting, insider trading, data privacy, 
discrimination and other areas of risk. We periodically 
train our employees on these and other governance 
topics, including cybersecurity.  
Reporting 
Our employees are encouraged to report activity they 
believe to be illegal or unethical. We have communicated 
through our Code of Ethics and through our training 
program how our employees can report concerns. 
We provide multiple ways that employees can report 
concerns, including through our Ethics Hotline, 
which provides a confidential reporting option and an 
anonymous reporting option where permitted by law, and 
is available
Keyword: governance
Governance....................................................................................................... 12
Ethics and Compliance Program ........................................................................................................................................13
Our Code of Ethics .............................................................................................................................................................13
Our Policies ........................................................................................................................................................................13
Reporting .....................................................................................................
Keyword: governance
Corporate Governance and Nominating Committee...........................................................................................................17
RISK MANAGEMENT.............................................................................................................................................................. 18
Board Oversight..................................................................................................................................................................18
Data Protection and Cybersecurity.....................................................................................................................................19
Supplier Business Practices Policy ......................................................
Keyword: governance
GOVERNANCE 
At Masco, we have a high-performance ethical culture and foster a mindset of continuous improvement that enables the 
growth of our employees, both personally and professionally. Whether it’s product, people or process, we strive to make 
everything we touch better. This everyday focus on continuous improvement translates to a genuine human impact— 
creating better living spaces, better work environments and better communities.   
Our high-performance ethical culture reflects our values:  
We value teamwork and trust. We foster openness and 
candor, supporting courageous conversations. We 
assume positive intentions and believe there is a shared 
desire for the best Masco outcome.
We appreciate that the basis of our advantage is people;
Keyword: governance
corporate governance principles and practices. 
Our Audit Committee has oversight responsibility for 
compliance with legal and regulatory requirements, 
including our employees’ and directors’ compliance 
with our Code of Ethics.  
•	 Our Vice President, General Counsel and Secretary 
has executive oversight responsibility for our Ethics 
and Compliance Program.  
•	 Our Company’s management is responsible for 
creating a positive workplace culture that encourages 
and demonstrates ethical leadership and respect for 
others.  
•	 Our employees around the world learn about our 
ethical culture through multiple channels and in 
multiple languages and are expected to live by our 
Code of Ethics every day. 
Our Code of Ethics 
Our Code of Ethics requires that all
Keyword: governance
masco.com/sustainability/corporate-governance/. 
Our Policies 
We have formal written policies that address bribery 
and corruption, antitrust and fair competition, conflicts 
of interest and gifts and entertainment, health and 
safety, financial reporting, insider trading, data privacy, 
discrimination and other areas of risk. We periodically 
train our employees on these and other governance 
topics, including cybersecurity.  
Reporting 
Our employees are encouraged to report activity they 
believe to be illegal or unethical. We have communicated 
through our Code of Ethics and through our training 
program how our employees can report concerns. 
We provide multiple ways that employees can report 
concerns, including through our Ethics Hotline, 
which provides a confidential reporti
Keyword: governance
Corporate Governance and Nominating Committee, and each functions pursuant to a written charter adopted by 
our Board. The members of these three committees qualify under the independence and experience requirements 
applicable to us, including requirements of the New York Stock Exchange.  
Following is information about each committee, subject to any changes that our Board may make from time to time. 
 
Audit Committee 
All members are independent and financially literate and qualify as “audit committee financial experts” as defined by 
the SEC.  
Our Audit Committee’s responsibilities include assisting our Board in its oversight of the:  
•	 integrity of our financial statements 
•	 effectiveness of our internal controls over financial and other public repor
Keyword: governance
Corporate Governance and Nominating Committee 
All members are independent. Our Corporate Governance and Nominating Committee is responsible for:  
•	 advising our Board on the governance structure and conduct of our Board 
•	 developing and recommending to our Board appropriate corporate governance guidelines and policies 
•	 Board succession planning, including reviewing our Board’s structure and composition and the tenure of our 
directors 
•	 reviewing and reassessing the adequacy of the Company’s Political Contributions Policy, and annually review the 
Company’s political contributions 
•	 reviewing the independence of our directors  
•	 identifying and recommending qualified individuals for nomination and re-nomination to our Board 
•	 recommending direc
Keyword: governance
In addition, our Corporate Governance and Nominating Committee reviews and discusses with management significant 
risks related to corporate governance.  
For additional details regarding Masco’s governance structure, go to www.masco.com/about/corporate-governance/. 
18
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Risk Management 
Board Oversight
We have a formal Enterprise Risk Management (ERM) process to anticipate and manage corporate risk and, where 
possible, to convert potential risks into business opportunities. This process is supported by risk mitigation activities 
with ownership and action plans, allowing us to better manage potential risks. Our Board performs an annual review and 
discussion of a comprehensive analysis prepared by management on material financial, operational, lega
Keyword: governance
verification; and our corporate governance practices. Our Board and its Committees receive regular updates on our 
ESG initiatives, focus areas and activities. In addition, our Board reviews and discusses with management this Corporate 
Sustainability Report prior to its publication. 
 
 
 
 
19
Return to Table of Contents
Data Protection and Cybersecurity  
Masco is committed to the privacy and security of our 
own information and the information of our employees, 
suppliers, customers and consumers. Masco complies 
with applicable domestic and international data protection 
legal requirements, including the EU General Data 
Protection Regulations (GDPR). We continuously monitor 
our information technology systems and our cybersecurity 
and data privacy responsibilities for data p
Keyword: governance
•	 Increasing governance and accountability across our family of companies to drive progress. 
•	 Providing more consistent and transparent communications internally and externally on our initiatives, progress and 
learnings.  
•	 Enabling the infusion and integration of DE&I into various learning opportunities throughout the business to drive 
awareness, build key capabilities (such as allyship), spur critical conversations, and drive action. 
•	 Continuously improving our talent practices and mitigating any potential biases through various test and learn 
initiatives (see “Inclusive Talent Practices”).
•	 Maturing our leader-led, intersectional DE&I councils and ERGs at our business units. 
•	 Deepening community and strategic partnerships.  
•	 Publicly disclos
Keyword: governance
•	 Corporate: Ethics and Integrity, Governance Structure, Brands, Products and Services, Markets Served, Facilities, 
Countries of Operation, Workforce, Collective Bargaining, Supply Chain, Stakeholder Engagement, Data Protection  
•	 Economic: Economic Performance, Revenue from Sustainable Products, Innovation  
•	 Environmental: Energy, Water, Emissions, Waste  
•	 Social: Diversity & Equal Opportunity, Local Communities, Occupational Health and Safety, Training and Education, 
Employment, Non-Discrimination, Child Labor, Forced or Compulsory Labor, Freedom of Association 
Except where otherwise noted, this report provides a summary of the sustainability performance and practices of Masco 
and its consolidated operating businesses as of December 31, 2023. 
While included in this repo
Keyword: governance
governance, reporting approach, and 
economic, social and environmental 
performance during 2023.      
External Assurance  
External report assurance was not 
sought for this report.  
Date of Previous Report 
Our most recent Corporate 
Sustainability Report was for 2022.     
Reporting Cycle  
This report is planned to be published 
at least biennially.  
 
 
 
Report Contact  
Masco encourages feedback on 
its Corporate Sustainability Report. 
If you would like to comment on 
the report, please e-mail us at 
sustainabilityreport@mascohq.com. 
Additional information about Masco, 
our business units and brands is 
available on our website at  
masco.com and in our 2023 Annual 
Report, which is also available on our 
website. 
Reporting profile  
App
Keyword: governance
corporate governance, ESG and executive compensation 
programs. In 2023, we continued our robust shareholder 
engagement program. In both the spring and the fall, we 
requested the opportunity to engage with shareholders 
holding approximately 45% of our outstanding shares. 
With these shareholders, we discussed our recent 
Board refreshment; our robust orientation process for 
new directors; our Board’s oversight of strategy, risk and 
ESG matters; and our recent ESG initiatives. We provide 
reports on the shareholder feedback we received to our 
Compensation and Talent Committee and Corporate 
Governance and Nominating Committee. 
Masco’s suppliers are engaged through our enterprise-
wide Supplier Business Practices Policy and audit process, 
and each Masco
Keyword: governance
Governance 
structure and 
composition
Board 
Oversight
18
Identification 
and 
assessment 
of risks
Organization's 
processes 
for identifying 
and assessing 
climate-
related risks
2-23
Policy 
commitments
External 
Initiatives
25
Data 
Protection and 
Cybersecurity
19
16
Peace, justice, 
and strong 
institutions
Profile
6
2-1
Organizational 
details
Brands, 
Products and 
Markets
7
2-6
Activities, value 
chain and 
other business 
relationships
Significant 
Changes
7
2-6
Activities, value 
chain and 
other business 
relationships
Workforce
9
2-7
Employees 
10
Reduced 
inequalities
Collective 
Bargaining
9
2-30
Collective 
bargaining 
agreements
8
Decent work 
and economic 
growth
Supply Chain
8
2-6
Activities, value 
chain and 
other business 
rel
Keyword: bribe
the U.K. Bribery Act. As part of our 
comprehensive anti-corruption compliance 
program, we study external enforcement 
actions and internal business operations, 
and use what we learn as input into our risk 
assessment. This further guides our 
procedures and the implementation of 
internal controls. We train all employees on 
our anti-corruption and related policies, 
procedures and controls, including targeted 
training to higher-risk departments. We 
have also built a monitoring program that 
includes the latest testing technologies, such 
as AI, to help spot and remediate 
noncompliance within our global operations 
to ensure that our controls are operating 
effectively.
Keyword: corruption
Corruption Initiative, the B20 Integrity & 
Compliance Task Force, the Association of 
Certified Anti-Money Laundering 
Specialists and the Centre for Financial 
Crime and Security Studies. 
Ethics Helpline 
At Mastercard, we promote a “speak up” 
culture and encourage employees to report 
any ethical or legal concerns. Our 
Mastercard Ethics Helpline, hosted by 
an independent third party, is a confidential 
around-the-clock service for reporting 
activity suspected of violating the law, our 
Code of Conduct or any other company 
policy. The Ethics Helpline is also available to 
external stakeholders, where permitted by 
local law. We promptly investigate all 
concerns and bring in external support, such 
as outside counsel, as needed. To increase
Keyword: corruption
Anti-corruption 
Our policies and programs are also 
designed to comply with applicable anti-
corruption laws around the world, including 
the U.S. Foreign Corrupt Practices Act and 
the U.K. Bribery Act. As part of our 
comprehensive anti-corruption compliance 
program, we study external enforcement 
actions and internal business operations, 
and use what we learn as input into our risk 
assessment. This further guides our 
procedures and the implementation of 
internal controls. We train all employees on 
our anti-corruption and related policies, 
procedures and controls, including targeted 
training to higher-risk departments. We 
have also built a monitoring program that 
includes the latest testing technologies, such 
as AI, to help spot and remediat
Keyword: corruption
Employees and Board of Directors received anti-corruption 
training 
% of total employee headcount and Board 
members 
100% 
100% 
100% 
1 
Certain prior year amounts have been revised to reflect members as of December 31, 2022 and 2021, respectively. Revisions had no impact on our public commitments. 
 
 
 
 
 
 
8 6 
MASTERCARD 2023 ESG REPORT 
INTRODUCTION 
ENVIRONMENT 
OUR PEOPLE 
SUPPLIERS 
CUSTOMERS 
COMMUNITIES 
GOVERNANCE 
DATA TABLES 
APPENDIX  
Appendix
Keyword: corruption
corruption 2016 
205-1 Operations assessed for risks related 
to corruption 
Governance — Ethics and compliance — Anti-corruption 
Code of Conduct 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
  
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1 0 7 
MASTERCARD 2023 ESG REPORT 
INTRODUCTION 
ENVIRONMENT 
OUR PEOPLE 
SUPPLIERS 
CUSTOMERS 
COMMUNITIES 
GOVERNANCE 
DATA TABLES 
APPENDIX  
GRI ST
 
ANDARD 
DISCLOSURE 
GRI 205: Anti-
corruption 2016
Keyword: corruption
anti-corruption policies and procedures 
Governance — Ethics and compliance — Anti-corruption 
2023 CDP Climate Change Questionnaire response 
2023 Form 10-K: pages 25 and 30 
205-3 Confirmed incidents of corruption 
and actions taken 
2023 Form 10-K 
Governance — Ethics and compliance — Antitrust and competition law 
GRI 206: Anti-
competitive 
Behavior 2016 
206-1 Legal actions for anti-competitive 
behavior, anti-trust, and 
monopoly practices 
Governance — Ethics and compliance — Antitrust and competition law 
GRI 207: Tax 2019 
207-1 Approach to tax 
Governance — Tax practices 
Global Tax Principles 
207-2 Tax governance, control, and 
risk management 
Governance — Tax practices 
Global Tax Principles 
207-3 Stakeholder engagement and 
management of
Keyword: tax
•  Tax practices 
•  Compliance with Code 
of Conduct 
Risk 
Committee 
In coordination with Audit 
Committee, oversees risk 
assessment and risk 
management, including: 
•  Enterprise risk 
management 
•  Privacy, data 
responsibility and 
information security 
Human Resources 
and Compensation
Committee 
Reviews people and culture 
strategy, including: 
•  DEI initiatives 
•  Compensation and benefits 
frameworks 
•  Human resources policies 
and practices, including 
those related to 
organizational 
effectiveness and employee 
development programs 
q
MANAGEMENT  
Under the Board's oversight, the Management Committee implements the company's strategic direction including on sustainability 
matters. The Management Committee consists of our exec
Keyword: tax
economy through jobs, wages and taxes, as 
well as promote community development. 
We encourage our direct suppliers, also 
known as Tier 1 suppliers, to establish their 
own diverse supply chains. We require Tier 1 
suppliers to report on their use of small and 
diverse suppliers, which are considered 
Tier 2 suppliers. 
We continue to seek ways to further 
diversify spend with underrepresented 
groups and leverage internal and external 
relationships to support supplier 
capacity building. 
Helping address the racial wealth 
and opportunity gap 
In 2020, we launched In Solidarity, our 
 
 
 
  
 
 
initiative to help close the racial wealth and 
 
 
 
 
 
 
 
 
opportunity gap in Black communities in the 
 
  
 
  
 
U.S.  Our In Solidarity investments are 
  
 
 
 
designed
Keyword: tax
501(c)(3) tax exempt private foundation. In 
2023, the Mastercard Impact Fund provided 
$74 million in grants supporting work in 54 
countries across our three focus areas of 
financial security, small business growth and 
impact data science as well as other 
community support. Beyond our three core 
focus areas, we respond to emerging 
community needs as they arise and amplify 
the giving efforts of our employees through 
matching gifts across a wide range of 
charitable causes. 
 
FEATURED STORY 
How to define inclusive growth —
and how to get there 
Hosted by the Mastercard Center for
Inclusive Growth and the Aspen
Institute, the 2023 Global Inclusive 
Growth Summit brought together
private-sector and social-sector
leaders, government officials,
eco