exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
Governance
ESG Disclosures
CREATING SUSTAINABLE SOLUTIONS
Energy transition: Enabling the transition 
from carbon-based fuels to renewables
The energy transition is changing how power needs to be managed 
and optimized for homes, at a facility level and for utilities. As 
energy flows through the grid bi-directionally and through more 
devices than ever before, our approach allows homeowners, 
businesses and communities to reduce the environmental impact 
of energy. We help customers safely add more renewables, 
storage and electric vehicle infrastructure to their energy mix—to 
become more sustainable and resilient while lowering energy 
costs. Our Everything as a Grid™ approach is shaping a future 
where homeowners and businesses can reduce the cos
Keyword: governance
Governance
ESG Disclosures
CREATING SUSTAINABLE SOLUTIONS
Digitalization: New connections optimize energy consumption
Digital innovation can be leveraged to make smarter business or personal energy management decisions. It’s the 
transformation of the data from appliances, equipment or processes into actionable insights that help consumers and 
businesses drive new efficiencies, maximize uptime and manage their energy footprint.
Leveraging our smart breaker technology, 
Eaton’s smart ambient monitoring Application 
Programming Interface (API) is helping inform 
caregiving in congregate and remote healthcare 
environments. The interface enhances energy 
usage data using proprietary machine learning and 
artificial intelligence (AI) algorithms. API acc
Keyword: governance
Governance
ESG Disclosures
REDUCING OUR FOOTPRINT
AT OUR SITES AROUND THE GLOBE,  
we are focused on reducing energy consumption and 
decarbonizing our energy supply, and have committed to 
rigorous, defined targets to reduce waste and water discharge.
One of our critical sustainability goals is to mitigate climate 
change while improving the efficiency of our operations. We 
have identified several innovative ways to promote resource use 
reduction that not only limit emissions and our consumption of 
resources, but also lower our cost of production. Our businesses 
are held accountable for the implementation of these efforts by 
our Sustainability Executive Council led by Chairman and CEO, 
Craig Arnold.
Reducing greenhouse gas emissions
We are dri
Keyword: governance
Governance
ESG Disclosures
REDUCING OUR FOOTPRINT
Zero waste
Our waste philosophy at Eaton centers around three key pillars: 
reduce, reuse and recycle. Our process starts with eliminating 
waste streams before they reach our facilities and then engaging 
partners to help us divert our remaining waste from landfills.  
Our focus on waste reduction is a critical part of the movement 
to a circular economy—one that is aimed at eliminating waste 
and making the best use of natural resources. 
We implement a zero waste-to-landfill certification program, 
which is awarded to sites that consistently achieve a landfill 
waste diversion rate of 98% or more through either reuse, 
composting, recycling or incineration with energy recovery—
where the heat gener
Keyword: governance
Governance
ESG Disclosures
REDUCING OUR FOOTPRINT
Industry 4.0
Industry 4.0 is the automation of traditional manufacturing practices using digital technologies like the Internet of 
Things (IoT), robotics, additive manufacturing, factory simulation and augmented and virtual reality. Manufacturing 
models are becoming autonomous and using algorithms and machine learning to become “smart.” By leveraging 
Industry 4.0 technology, we’re significantly improving our manufacturing operations and adding value for our 
customers—creating and developing systems and processes that are connected, flexible and optimized. Innovative, 
scalable and data-driven manufacturing models are resulting in higher product quality, decreased time-to-market, 
reduced environme
Keyword: governance
Governance
ESG Disclosures
Social
18
EATON 2023 Sustainability Report 
Introduction
Environment
Social
Governance
ESG Disclosures
INCLUSION AND DIVERSITY
OUR INCLUSION AND DIVERSITY FRAMEWORK
We make
what matters
work.
Ethical
Passionate
We care deeply about
what we do.
We set high expectations
and we perform.
Accountable
We seek
responsibility
and take ownership.
We do what we say. 
Efﬁcient
We value speed
and simplicity.
Transparent
We say what we think.
We make it okay
to disagree. 
Learner
We are curious,
adaptable and
willing to teach
what we know.
We play by the rules
and act with integrity.
We are proud of
our actions.
Bu
il
ds
 O
rg
an
iz
at
io
na
l C
ap
ab
ili
ty
Th
in
ks
 &
 A
ct
s 
St
ra
te
gi
ca
lly
 G
et
s 
Re
su
lt
s 
   
 E
na
bl
es
 D
Keyword: governance
Governance
ESG Disclosures
INCLUSION AND DIVERSITY
20
EATON 2023 Sustainability Report 
AN INCLUSIVE AND ENGAGED 
WORKFORCE
Our employees are the heart and soul of Eaton—so we 
strive to create a workplace that’s exciting, engaging and 
meaningful. We want them to feel welcome, do their best 
work and choose to stay. While individual engagement 
remains a critical focus for our company, the heart of an 
inclusive experience lies in leaders who actively build an 
environment of trust where individuals and teams thrive.  
Active employee listening 
To stay close to the pulse of what matters to our employees 
we are always listening. And we formally ask our employees 
to make their voices heard through our biennial census 
survey that monitors our progr
Keyword: governance
Governance
ESG Disclosures
INCLUSION AND DIVERSITY
Inclusion Eaton Resource Groups 
benefit health
Our inclusion Eaton Resource Groups (iERGs) are 
integral to our wellbeing mission. In 2023, our WAVE 
(Women Adding Value at Eaton) iERG organized a 
parenthood event on International Women’s Day 
to increase awareness of our parenting support 
services, fertility benefits and paid parental leave 
policy. Our PRIDE (LGBTQ+ and allies) iERG 
facilitated an annual enrollment meeting where 
LGBTQ+ employees could discuss tailored benefits 
in a safe space. Our SOAR (Strengthening our Asian 
Resources—Asian American) iERG invited two-time 
Golden Glove awardee Steven Kwan to a discussion 
on mental health. 
Growing our mental health ally community
Our Ment
Keyword: governance
Governance
ESG Disclosures
INCLUSION AND DIVERSITY
A veteran’s 
dedication 
For Paul Brown, the 
U.S. Army has been 
a gateway to many 
opportunities. One of 
them is serving on our Veterans 
iERG. In 2023, Paul helped organize 
and lead a Veterans Day Ceremony 
in Davenport, Iowa, that was 
attended by senior leaders and 
marked Eaton’s main observance. 
Paul says his motivation lies in 
helping others and ensuring that 
those who serve know someone 
has their backs. 
Personal language development  
Juan Felipe Lopez, a sales leader based in 
Bogota, Colombia, seized an opportunity to 
engage with non-Spanish speakers in 2023. 
Through an online language learning tool 
provided for free by our #VAMOS! iERG,  
Luis strengthened his English language s
Keyword: governance
Governance
ESG Disclosures
INCLUSION AND DIVERSITY
Diverse slates of candidates in our 
legal department  
One of the ways we put our philosophy to work was 
by completing the Mansfield Rule Legal Department 
Edition 3.0 Certification process (“MRLD 3.0 
Certification”) and enrolling in the MRLD 2023 – 
2025 Certification Program to enhance the rigor and 
accountability of our law team. The Mansfield Rule, 
launched in 2017, is a structured certification process 
that challenges law firms and legal departments to 
ensure that a broad pool of candidates, including 
those historically underrepresented in the legal field, 
are considered for leadership and governance roles. 
Our decision to progress in 2023, despite cultural 
headwinds, was a clear and
Keyword: governance
Governance
ESG Disclosures
VOLUNTEERING AND CHARITABLE GIVING
Eaton team supports environmental efforts of Chesapeake 
Bay Foundation
Eaton’s Marina Power and Lighting Division worked with the Chesapeake Bay 
Foundation (CBF) in Virginia to improve the health of the Hampton River. In the 
fight to clean the waters of the Chesapeake Bay, CBF created the Chesapeake 
Oyster Alliance with a goal of adding 10 billion new oysters to the bay by 2025. 
Oysters play a critical role in the health of the bay ecosystem. An adult oyster 
filters upwards of 50 gallons of water per day, removing suspended sediments 
and harmful pollution from the water. Eaton is supporting this ambitious effort 
through a $20,000 grant which will be 100% matched – doubling its impa
Keyword: governance
Governance
ESG Disclosures
VOLUNTEERING AND CHARITABLE GIVING
Supporting villages in need through 
water infrastructure 
Since 2018, Eaton India Foundation has been working 
with The Watershed Organization Trust (WOTR), a not-for-
profit NGO that works to address water-related issues 
in rural communities. Through this collaboration, Eaton 
has supported watershed and livelihood initiatives in 
the villages of Bhokardara and Kondibachi Thakarwadi in 
Ahmednagar. Because those efforts were so successful, 
we have chosen to support an additional group of 
villages in need. The new project focuses on building 
response capabilities, skills, livelihood assets for farmers 
and physical infrastructure such as the construction 
of farm bunds, check dams and
Keyword: governance
Governance
ESG Disclosures
SAFETY AND QUALITY
Celebrating 365 days without a single injury 
The team at our Industrial Controls Division Frontera plant in Juarez, Mexico, celebrated an impressive milestone in 2023: 365 days 
without a single recordable injury. At Eaton, we know that safety doesn’t happen by accident. It happens when our teams are engaged 
and proven, standard processes are executed the right way, every time. With this in mind, the leadership at ICD Frontera reworked the 
employee onboarding process and deployed a “Positive Interrupters” initiative that engaged the teams and ultimately improved the 
site’s overall safety culture. 
Eaton Power Quality team wins national quality award in India 
The team at Eaton Power Quality Pvt. Ltd.
Keyword: governance
Governance
ESG Disclosures
SUPPLY CHAIN
Strengthening our commitment to global 
supply chain sustainability  
Eaton joined the Sustainable Procurement Pledge’s (SPP) 
League of Champions program, further demonstrating 
our commitment to sustainable business practices. SPP 
is an international, nonprofit organization for procurement 
professionals that drives awareness and knowledge of 
responsible sourcing practices. Launched in 2022, the 
SPP League of Champions program was created to help 
procurement leaders equip their teams with the skills 
to deliver on the organization’s sustainability objectives. 
Learn more. 
Eaton’s supply chain deemed “most 
resilient” by Resilinc   
For the second year in a row, Eaton ranked in the 
top 10 of Resilinc’s “
Keyword: governance
Governance
ESG Disclosures
SUPPLY CHAIN
Creating equal opportunities for diverse suppliers 
Our suppliers are our business partners, and it is important that these partnerships reflect the communities where we 
live, work and serve. Active solicitation of diverse suppliers helps us realize our aspirational goal of becoming a model 
of inclusion and diversity in our industry and operationalizes our belief in the power of diversity.
At Eaton, we actively seek to provide opportunities to businesses that include small, veteran-owned, disabled-owned, 
minority-owned, LGBTQ+, women-owned and historically underutilized business zone suppliers. 
Eaton made history in 2023 by spending over $1 billion with diverse suppliers for the first time. This represented
Keyword: governance
Governance
ESG Disclosures
Governance
29
EATON 2023 Sustainability Report 
GOVERNING WHAT MATTERS
Introduction
Environment
Social
Governance
ESG Disclosures
PROGRESS IN MEETING AMBITIOUS SUSTAINABILITY OBJECTIVES doesn’t happen 
without express leadership support and a strong organizational foundation in place. At Eaton, our Board, audit and 
governance committees have increased responsibility over our comprehensive ESG strategy, and sustainability is 
embedded at all levels of the organization. This has enabled us to make considerable strides toward advancing our goals. 
Eaton’s Sustainability Executive Council is chaired by our chairman and chief executive officer, and also includes senior 
leaders responsible for developing our ESG and sustainabil
Keyword: governance
4  	Governance Committee
5  	Innovation & Technology Committee
6  	Executive Committee
*  	Denotes Committee Chair
30
EATON 2023 Sustainability Report 
GOVERNING WHAT MATTERS
Introduction
Environment
Social
Governance
ESG Disclosures
Craig Arnold  
Chairman and Chief  
Executive Officer 
Heath B. Monesmith 
President and Chief Operating  
Officer, Electrical Sector
Tim Darkes 
President, Europe, Middle East  
and Africa Region, Corporate  
and Electrical Sector 
Pete Denk 
President, Mobility Group
Mike Yelton
President, Americas Region, 
Electrical Sector
Adam A. Wadecki 
Senior Vice President  
and Controller
Matt Hockman 
President, Global Energy  
Infrastructure Solutions,  
Electrical Sector 
Paulo Ruiz 
President and Chief Operating 
Officer, Indus
Keyword: governance
Governance
ESG Disclosures
OUR COMMITMENT TO ETHICS AND 
COMPLIANCE is an essential part of doing business right.  
Because the way we achieve our results is as critical as the results we 
deliver, we strive every day to drive ethics and compliance to  
the center of the business. This begins with a strong tone at the  
top, which we work to cascade throughout the organization.
Our philosophy is simple: We all own ethics. We believe that  
every Eaton employee plays a role in creating and sustaining  
an ethical culture. And we expect all employees to do the right  
thing every time. In 2023, we were named one of the World’s  
Most Ethical Companies by Ethisphere for the 12th time and  
were also selected as a finalist for Compliance Program of the
Keyword: governance
Governance
ESG Disclosures
America’s Best Large Employers
 Forbes
America’s Greatest Workplaces for Diversity
 Newsweek
Age Friendly Company Certified in Mexico
 Age Friendly Institute 
Best for Vets
 Military Times
Best of the Best Employer for Veterans
 U.S. Veterans Magazine
Best Place to Work for Disability Inclusion 
 Disability:IN
Best Place to Work for LGBTQ+ Equality in Mexico
 Human Rights Campaign
Europe’s Diversity Leaders
 Financial Times
Great Place to Work India
 Great Place to Work Institute
Most Honored Company
 Institutional Investor Magazine
Most Loved Workplaces in the United Kingdom 
 Newsweek
Top 100 Global Most Loved Workplaces
 Newsweek
Top Analytics and AI Award
 Analytics Institute 
Top Sustainability Initiative
 Digital Eng
Keyword: governance
Governance
ESG Disclosures
Forward-looking statements
These statements should be used with caution and are subject to various 
risks and uncertainties, many of which are outside the company’s control. 
The following factors could cause actual results to differ materially from 
those in the forward-looking statements: potential global pandemics, 
such as COVID -19, unanticipated changes in the markets for the 
company’s business segments; unanticipated downturns in business 
relationships with customers or their purchases from us; competitive 
pressures on sales and pricing; continued supply chain disruptions, 
unanticipated changes in the cost of material, labor and other production 
costs, or unexpected costs that cannot be recouped in product prici
Keyword: governance
Governance
ESG Disclosures
ABOUT THIS REPORT 
Eaton’s 2023 sustainability report covers material 
sustainability matters consolidated for Eaton Corporation 
PLC and includes data and activities that occurred 
within calendar year 2023. Eaton uses credible ESG 
and sustainability reporting frameworks to guide our 
disclosures including the Sustainability Accounting 
Standards Board (SASB) framework, the European 
Financial Reporting Advisory Group’s (EFRAG) European 
Sustainability Reporting Standards (ESRS) framework, 
and the International Sustainability Standards Board’s 
(ISSB) Taskforce on Climate Related Financial Disclosures 
(TCFD) framework.
The information contained in this report, including but 
not limited to any facts or forward-looking s
Keyword: governance
our governance, climate and sustainable solutions 
portions of our disclosures. 
•	
We continue to disclose on actions and targets 
related to Eaton’s 2030 sustainability targets 
regardless of their presence in the ESRS framework.
•	
Updated Scope 3 baseline and boundaries.
Scope of consolidation and exempted 
subsidiaries
In general, Eaton’s sustainability reporting scope uses 
operational control as the boundary for our reporting and 
aligns with the consolidation for financial statements. 
In Eaton’s financial statements, the equity method 
of accounting is used for investments in associate 
companies where the company has significant influence 
and generally a 20% to 50% ownership interest. Eaton 
does not have off-balance sheet arrangements with
Keyword: governance
Governance
ESG Disclosures
GENERAL DISCLOSURES
Material financial risk
Financial materiality
Impact materiality
Both material financial risk and impact
Material impact
Business continuity
Business ethics
Supply chain management
Climate change risks & management
Energy use, conservation & reductions
GHG emissions & reductions
Product & service safety & quality
Recycling, waste recovery & reduction
Non-hazardous waste management
Fair & inclusive workplace
Biodiversity
Human rights
Harmful substances management
Community support & development
Water
Occupational health & safety
Transition to renewable energy
Cybersecurity & information security
Material sustainability matters 
The following sustainability topics are determined 
to be material based on Ea
Keyword: governance
and Governance sections of this report.
Figure 1: Double materiality matrix
36
EATON 2023 Sustainability Report 
Introduction
Environment
Social
Governance
ESG Disclosures
Sustainability matter
Where in the value 
chain is this material? 
Relevant policy
Related targets
Social
Human rights
Employees and 
Supply Chain
Human Rights Policy 
Code of Ethics
Supplier Code of 
Conduct
Zero tolerance for 
violations from key 
suppliers
Fair & inclusive 
workplace
Employees
Code of Ethics
Share gender pay equity 
assurance results
Occupational health & 
safety
Employees*
EHS Policy
0.25 TRCR
Supply chain 
management
Supply Chain, Operation, 
Customers
Supplier Code of 
Conduct
Code of Ethics
Internal tracking and 
reporting mechanisms
Community support & 
develop
Keyword: governance
Governance
Business ethics
Supply Chain, 
Operations, Customers
Code of Ethics
100% of employees have 
access to Code  
of Ethics and 
Whistleblower hotline
GENERAL DISCLOSURES
Sustainability matter
Where in the value 
chain is this material? 
Relevant policy
Related targets
Environmental
Climate change risks & 
management
Supply Chain, 
Operations, Customers
EHS Policy
Supplier Code of Conduct
Responsible Sourcing Policy
50% Scope 1,2 and 
15% Scope 3 GHG
Transition to renewable 
energy
Operations, Customers
EHS Policy
Responsible Sourcing Policy
50% Scope 1,2 and 
15% Scope 3 GHG
GHG emissions & 
reductions
Supply Chain, 
Operations, Customers
EHS Policy
Supplier Code of Conduct
Responsible Sourcing Policy
50% Scope 1,2 and 
15% Scope 3 GHG
Energy
Keyword: governance
Governance
ESG Disclosures
Description of material sustainability impacts 
Potential material impacts relating from Eaton’s materiality 
assessment include: 
•	
Climate change risks and management: Eaton’s inability 
to act on our energy transition strategy and meet our 
climate action targets could negatively impact people 
and the environment.
•	
Transition to renewable energy: Eaton’s role in energy 
transition is significant in terms of products that enable 
renewable energy. If Eaton did not enable the transition, 
it could have negative impacts toward reducing 
greenhouse gas emissions.
•	
GHG emissions and reductions: Eaton’s global 
operations make it challenging to address the emissions 
that have already been released into the environmen
Keyword: governance
Governance
ESG Disclosures
Eaton is actively managing its portfolio and expects to deliver 
higher margins and more consistent earnings supported by 
secular growth trends: sustainability, intelligent and connected 
products, and electrification and energy transition. Climate 
transition opportunities position Eaton to deliver growth in the 
near term.
Double Materiality Assessment and impact, risk 
and opportunity analysis
Methodology
Eaton periodically assesses our impact on the environment, 
our communities, and the economy. We consider internal 
and external stakeholder expectations for our sustainability 
strategy, targets and performance. As part of our periodic 
review and evaluation of our ESG material topics, we make 
sure we are focusing on
Keyword: governance
across the environmental, social and governance pillars. 
We ensured that the issues universe evaluated the relevant 
topics in the European Sustainability Reporting Standards 
(ESRS) and the IFRS SASB sector specific guidance for the 
Resource Transformation Sector (Industrial Machinery & 
Goods, Aerospace and Defense and Electrical and Electronic 
Equipment) to represent the investor view.
Double Materiality Assessment parameters
We used the following parameters to conduct a horizon scan 
with our AI solution.
	
•	
Countries in which Eaton has significant operations
	
•	
Relevant resource transformation industries under 
SASB: Industrial Machinery & Goods, Aerospace & 
Defense and Electrical & Electronic Equipment 
	
•	
Benchmark companies using our list of proxy peers
	
•	
Regulator
Keyword: governance
Governance
ESG Disclosures
practices are covered under the new topic of supply 
chain management. 
The following ESG topics were added to our priority 
topics based on our 2023 assessment:
	
•	
Biodiversity
	
•	
Transition to a circular economy
	
•	
Cybersecurity and information security
	
•	
Human rights
	
•	
Community support and development
	
•	
Product safety and quality
	
•	
Business continuity
Although these ESG topics were added to our priority 
material ESG topics, in past years Eaton had a variety 
of policies, management approaches and disclosures 
related to these topics. 
Due diligence processes
Eaton uses a variety of due diligence processes 
to identify, prevent, mitigate and track our actions 
related to actual and potential impacts on
Keyword: governance
Governance
ESG Disclosures
As the chief executive officer and executive chairman 
of a large global industrial company, Mr. Napoli has 
extensive executive leadership experience and is 
very knowledgeable in the management of industrial 
products and services. In particular, he has considerable 
experience in the areas of talent development, financial 
management, manufacturing and product innovation, 
and risk management. Mr. Napoli also brings a dynamic 
international business perspective and global corporate 
strategy experience to the Board, which are of particular 
benefit in his role as chair of the Innovation and 
Technology Committee.
As the retired chairman and former chief executive officer 
of one of the largest global corporations, Mr. Pa
Keyword: governance
valuable financial and governance insight and experience 
to the Board and Audit Committee of the Company. Her 
extensive experience is of particular benefit to Eaton in her 
role as chair of the Governance Committee.
Mr. Wilson has extensive global leadership experience 
in operations, commercial management, global 
manufacturing, digitization and services. He brings product 
domain expertise in electrical power generation, power 
management, grid, aeroderivatives, motors, lighting and 
appliances. As a result of his international assignments, he 
also brings a global perspective to manufacturing, services 
and growth. Mr. Wilson brings extensive electrical industry 
experience to Eaton. He also has significant governance 
and committee experience and experiences of impor
Keyword: governance
Eaton’s Board of Directors Governance Guidelines and each of 
the Board committee charters are available on our website.
Board roles and responsibilities
Eaton’s Board of Directors oversees Eaton’s business strategy. 
Our Board works with management to consider specific issues 
relevant to the overall conduct of our businesses, including 
strategy, emerging challenges and enterprise risks, safety, 
sustainability, culture, financial performance, acquisitions and 
other strategic alliances. Our Board and company are focused 
on meeting the needs of all our stakeholders—our employees, 
customers, suppliers, communities and shareholders. Eaton’s 
enduring commitment to inclusion and diversity is exemplified 
in the composition of our Board. Our Board recognizes the value 
of nomi
Keyword: governance
community affairs, corporate governance, health and safety, 
diversity and inclusion, culture and human capital management 
matters. Our Board regularly considers ESG issues at full 
Board and committee meetings. In addition, at Eaton’s annual 
strategy sessions, our Board regularly conducts a detailed 
review of Eaton’s sustainability strategy with management. 
The Board has the following committees, which meet regularly 
throughout the year: Audit; Compensation and Organization; 
Finance; Governance; and Innovation and Technology. As part 
of the Board’s ultimate oversight of Eaton’s ESG strategy, the 
Board, through its committees, considers specific risks and 
opportunities, including climate-related risks and opportunities, 
that fall within certain of the committees’ areas
Keyword: governance
Governance Committee: 
The Governance Committee is responsible for considering 
relevant matters related to the environmental and governance 
pillars of ESG, as determined by the committee from time to 
time. Eaton’s chief legal officer regularly provides updates to 
the committee on corporate governance and related matters. 
Eaton’s chief sustainability officer briefs the committee 
on environmental, health and safety matters. Eaton’s vice 
president, Public Affairs provides updates on Eaton’s public 
affairs. Finally, Eaton’s senior vice president, Ethics and 
Compliance meets with the committee at each of its meetings 
to provide updates on ethics and compliance matters.
Senior Leadership Committee: 
With the support and oversight of the Board, st
Keyword: governance
Governance Committee, a candidate must have the following 
minimum qualifications: personal ability, integrity, relevant 
business background, independence, experience, expertise 
in areas of importance to our objectives, and sensitivity to 
our corporate responsibilities. In addition, our Governance 
Committee looks for individuals with specific qualifications 
so that the Board has diversity in experience, international 
perspective, background, expertise, skills, age, gender and 
ethnicity. These specific qualifications may vary from year to 
year, depending upon the composition of the Board at that time.
At each Board meeting, the committee chairs provide 
updates to our full Board on the activities of their respective 
committees.
Sustainability
Keyword: governance
Governance topics: Business ethics 
Sustainability incentives
Environmental, Social, and Governance measures in 
categories such as ethics, sustainability, and diversity 
and inclusion have been embedded in our culture and our 
short-term incentive plan for many years. These measures 
are factored into the growth, operational excellence and 
building organizational capabilities goals within the individual 
rating component of our short-term incentive plan. Our 
compensation programs are designed to attract, motivate, 
reward and retain leaders who are capable of creating and 
sustaining value for our shareholders. 
GENERAL DISCLOSURES
Introduction
Environment
Social
Governance
ESG Disclosures
42
EATON 2023 Sustainability Report 
Introduction
Environm
Keyword: governance
Governance
ESG Disclosures
Risks related to sustainability disclosures
Eaton’s Internal Audit function assesses the risks related to 
sustainability disclosures in our annual sustainability report as 
part of its annual audit plan. 
Internal Audit focuses on metrics for which Eaton has public 
targets, new disclosure areas and disclosures that are likely to 
impact stakeholder decisions. At times, third-party consultants 
are used to provide advisory services around assessing the 
assurance readiness of sustainability disclosures. Risk rating 
criteria are used in audit reports (minor, major or critical) and 
drive prioritization in action plans. Minor reporting risks identified 
were related to internal control processes for documentation, 
a standa
Keyword: governance
Governance
ESG Disclosures
   Ali
gn g
oals
  
   
M
ak
e i
mpr
ove
ment
s  
  
  I
de
ntif
y o
ppor
tunit
ies  
   Ach
ieve
 res
ult
s   
 
Financial
capital
Human
capital
Environmental
resources
Value 
chain
Innovation
Operations
Shareholder equity, 
capital expenditures, 
acquisitions
For the economy
$23B net sales across 
Electrical, Mobility and 
Aerospace market segments
For society
Innovation
$1.3B in sustainable R&D 
since 2020
Employees
84% employee engagement 
rating
14.7 hours average training 
hours
73,000 volunteer hours
World class health and safety 
outcomes
Value Chain
95% of suppliers by spend 
affirmed code of conduct
$10M charitable contributions
For the environment
79% manufacturing zero 
waste to landfill
16% manufacturing zero
Keyword: governance
Governance
ESG Disclosures
Elements of business strategy related to 
sustainability matters  
Eaton’s business strategy relates to sustainability matters 
in the following ways. Our business strategy focused 
on growth related to electrification, digitalization and 
energy transition will benefit the transition to a low carbon 
economy and impact climate change. At the same time, as 
Eaton increases production to accommodate that growth, 
sustainability matters related to waste, water, energy 
and greenhouse gas emissions will need to be mitigated. 
Upstream impacts related to our strategy include resource 
and material availability related to energy transition as well 
as impacts to workers in the supply chain. Downstream, 
our business strategy may
Keyword: governance
governance and compliance. 
	
3.	 Train and communicate to increase awareness 
and understanding. 
	
4.	 Drive continuous improvement, supporting 
growth opportunities for both Eaton and our 
suppliers.
Distributors and channel partners: A large portion of 
Electrical Sector sales are made through distributors, resellers, 
and manufacturers' representatives, as well as directly to 
original equipment manufacturers, utilities and certain other 
end users. Distributors and channel partners are an integral 
part of Eaton’s value chain inputs. Distributors are expected to 
confirm their adherence to Eaton’s Supplier Code of Conduct 
and Anti-corruption Policy.
Environmental resources 
Eaton’s manufacturing operations require environmental 
resources be
Keyword: governance
Governance
ESG Disclosures
	
•	
Eaton India Innovation Center (EIIC): Made up of 
multiple centers of excellence and partnered with 
our businesses, the EIIC focuses on developing 
more sustainable technologies, products and design 
processes in areas like modeling and simulation, 
controls and reliability, embedded systems and 
digital prototyping.
	
•	
Extensive collaborative partnerships: Our 
innovation strategy relies on trusted partners 
across academia, national labs, research institutes, 
nonprofits, suppliers, competitors, government 
agencies and industry-specific organizations around 
the world. Our government partnerships span 12 
different countries and offer us unique opportunities 
to participate in early state technologies and 
acce
Keyword: governance
Governance
ESG Disclosures
Roundtable meetings occur when a plant manager or 
other executive calls a meeting with a small number of 
employees during site visits. During these meetings, 
employees can ask questions and provide feedback. This 
practice commonly occurs when an executive travels to 
visit a site.
All employees receive information through our internal 
intranet system called JOE (named after our founder, 
Joseph Oriel Eaton). Employees without computer access 
can access JOE at kiosks at their specific job site.
Investor and shareholder engagement: to 
identify and address potential risks to our 
long-term financial viability
Eaton pursues ongoing engagement with our 
shareholders through:
	
•	
Annual shareholders meetings
	
•	
Annual
Keyword: governance
Governance
ESG Disclosures
opportunities as it relates to our business model, value 
chain, strategy and decision making including our annual 
Enterprise Risk Management process and management 
approach, periodic materiality and impact, risk and 
opportunity assessments, strategic planning and the 
deployment of EBS. 
The material risks and opportunities do not materially impact 
Eaton’s current financial position, financial performance or 
cash flows, and there does not appear to be a significant risk 
of material adjustment within the next annual reporting period 
to the carrying amounts of assets and liabilities reported in 
Eaton’s consolidated financial statements associated with 
material sustainability risks or opportunities.
Although it is di
Keyword: governance
Governance of climate actions
Our Board has ultimate oversight of our risk management 
and Eaton's strategic direction, both of which drive our 
efforts related to environmental, social and governance 
(ESG) matters. The Board’s oversight of ESG includes 
review of environmental and climate matters. Our 
Board regularly considers ESG issues at full Board and 
committee meetings. In addition, at Eaton’s annual 
strategy sessions, our Board regularly conducts a 
detailed review of Eaton’s sustainability strategy with 
management. 
The Board has the following committees which meet 
regularly throughout the year: Audit; Compensation and 
Organization; Finance; Governance; and Innovation and 
Technology. As part of the Board’s ultimate oversight of 
Eaton
Keyword: governance
Governance
ESG Disclosures
Climate scenario analysis 
Historical weather and climate observations show that the 
climate is changing, and global mean temperatures have 
already increased by about 1°C.
In 2023, we conducted a quantitative analysis of both our 
climate physical risks and transition risks as part of our 
updated climate scenario analysis. TCFD recommends 
modeling at least three scenarios at 1.5-degree; below 
2-degree; and a higher temperature future. Eaton uses 
different climate scenarios for different purposes and 
accounted for the trade-offs between transition and physical 
risks by focusing on: 
	
•	
Transition risks using International Energy Agency 
(IEA) lower temperature scenarios 
	
•	
Physical risks using the Internationa
Keyword: governance
Governance
ESG Disclosures
Transition risk scenario analysis methodology
In 2022, for our transition analysis, we used three International 
Energy Agency scenarios: Announced Policies (2.1°C scenario), 
Stated Policies (2.6°C scenario) and Net Zero (1.4°C scenario). 
The IEA scenarios were chosen because they use IPCC 
MAGICC 7 climate model from the IPCC’s 6th Assessment 
Report (IPCC, 2021). All changes in temperatures are relative 
to 1850-1900 and match the IPCC 6th Assessment Report 
definition of warming of 0.85 °C between 1995-2014. Details 
for the 4 IEA Scenarios are found in Annex A of the IEA 2021 
World Energy Outlook. For transition risks and opportunities, we 
define medium term as five years and long term as 10 years.
Physical risk sce
Keyword: governance
Governance
ESG Disclosures
Climate-related transition risk
The findings of the scenario planning exercises identified 
a range of potential impacts. As reported in Eaton’s 2023 
annual report, the effects of climate change, including 
weather disruptions and regulatory/market reactions, create 
uncertainties that could negatively impact our business.
Global increases in greenhouse gas emissions are linked 
to climate change, and there is a growing consensus 
that dramatic emissions reductions are needed to avoid 
severe climate impacts. Extreme weather events linked 
to climate change, including hurricanes, flooding, wildfires 
and high heat/water scarcity, create physical risks to 
Eaton’s operating locations and supply chains. While Eaton 
is worki
Keyword: governance
Governance
ESG Disclosures
Temperature rise 
Potential impact to industry: Increased frequency of 
high heat days caused by climate change can create 
safety and productivity challenges for manufacturing and 
field service work. Longer term, population migration 
and related social issues could impact workforce 
availability. High heat temperature allowances for hourly 
staff in related working areas can lead to increased 
costs, higher employee turnover and worker shortages. 
Potential government mandates to stop working on 
high heat days could impact production and on-time 
deliveries. An increased spread of heat-related diseases 
and illnesses can impact workforce availability. High 
temperatures may damage sensitive components 
and materials in
Keyword: governance
Governance
ESG Disclosures
Wildfire 
Potential impact to industry: Wildfire exposure is projected 
to rise across a variety of regions in the coming decades 
across both temperature scenarios. Second order impacts 
to energy systems, suppliers and logistics networks can 
be disrupted by wildfire. Eaton has sites that are potentially 
at risk for increased wildfires causing poor or dangerous 
air quality, road closures, and employee health, safety and 
housing concerns due to fires and smoke paths. Increase 
in temperature is driving significant expected increases 
in the frequency and/or severity of periods with a high 
fire risk caused by high temperatures, low humidity, low 
rainfall and high winds across most of Eaton’s geography, 
especially in t
Keyword: governance
Governance
ESG Disclosures
Eaton sites and suppliers are at risk of amplified hurricane 
activity in the medium to long term. Eaton has manufacturing 
operations in the Dominican Republic, Puerto Rico, Costa Rica, 
U.S. Gulf Coast and U.S. Atlantic Carolinas coast, Philippines 
and Southern China that are geographically located where 
hurricane intensity may increase. Potential operational risks 
include employee safety and on-time deliveries and loss 
of power, communications system disruptions, customer 
disruptions and damage to property. Potential supply chain 
related risks include supplier, logistics and utility network 
disruption, and to refining and chemicals suppliers and import/
export logistics networks.
Across both temperature scenarios,
Keyword: governance
Governance
ESG Disclosures
geographies and industries. We expect some of these 
reductions to be more permanent and some to change as 
industries recover and our company grows. 
Alignment with business strategy and financial planning
Eaton is actively managing its portfolio and expects to deliver 
higher margins and more consistent earnings supported by 
secular growth trends: sustainability, intelligent and connected 
products, and electrification and energy transition. 
Aligned capital deployment
In 2022, Eaton completed American Society of Heating, 
Refrigeration and Air-Conditioning Engineers (ASHRAE)Level 
2 Energy Audits at 40 major manufacturing locations to create 
an updated strategic capital investment program focused on 
energy efficiency.
Keyword: governance
Governance
ESG Disclosures
Climate-related focus area
Action plan
Target
2023 Performance
Climate mitigation
Implementing energy efficiency 
audits and projects, executing 
on-site and off-site renewable 
energy strategy, green fleet 
strategy and fugitive emissions 
reduction. 
50% reduction in greenhouse 
gas emissions by 2030; carbon 
neutral by 2030
31% GHG reduction (2018-2023)
Growing sustainably
Updated climate scenario 
analysis, Positive Impact 
Framework in New Product 
Innovation process, ESG due 
diligence in M&A, electrification, 
digitalization and energy 
transition strategy.
75% revenue from sustainable 
solutions 
71% revenue from Sustainable 
Solutions
15% reduction in Scope 3 
emissions
25% reduction in Scope 3 
emissions
Adaptatio
Keyword: governance
Governance
ESG Disclosures
Consistency in reporting GHG emissions
Eaton’s greenhouse gas reduction targets cover all categories and subcategories of our Scope 1, 2 and 
3 emissions in our greenhouse gas inventory. These targets have been validated by the Science-based 
Targets Initiative.
Eaton’s greenhouse gas reporting baseline is restated as our business changes over time to account for 
acquisitions and divestitures. Periodically, we have had our 2018 baseline reverified by a third party to 
ensure it remains representative in terms of activities covered.
Restating our baseline year in line with Eaton's inventory management plan may increase or decrease 
our progress toward our greenhouse gas reduction targets depending on the activities and the
Keyword: governance
Governance
ESG Disclosures
Energy production
Eaton produced 7,532 MWH of renewable energy in 2023, which is equivalent to 0.6% of our total electricity consumption.
Emissions in metric tons (CO2e)
2018
2023
% change 
since 2018
Gross Scope 1 emissions
284,825
193,857
-32%
Gross Scope 2 emissions location-based
708,036
550,076
-22%
Gross Scope 2 emissions market-based
700,727
488,850
-30%
Scope 3 emissions
1. Purchased Goods and Services
4,984,934
4,631,435
-7%
2. Capital Goods
39,283
70,878
80%
3. Fuel- and Energy-Related Activities
262,009
219,836
-16%
4. Upstream Transportation & Distribution
246,996
780,730
216%
Emissions in metric tons (CO2e)
2018
2023
% change 
since 2018
5. Waste Generated in Operations
39,109
40,462
3%
6. Business Travel
38,64
Keyword: governance
Governance
ESG Disclosures
There were no significant acquisitions or divestiture changes to our organizational boundary in 2023. We follow the GHG 
Corporate Protocol methodology. For fuels we use U.S. EPA emission factors. For electricity we use U.S. eGRID factors, 
Canadian grid factors and lastly we use IEA grid electricity factors for the rest of the world.
Scope 3 methodology and boundaries 
Five Scope 3 Categories are excluded from our greenhouse gas inventory because they 
are not material. As stated in ISO 14064-3:2019 Section 5.1.7, materiality refers to any 
error in values in the stated GHG emissions or any intangible issues that affect the stated 
GHG emissions. Because ISO 14064-3 Section 5.1.7 notes that “The GHG programme can 
establis
Keyword: governance
Governance
ESG Disclosures
We report on the following Scope 3 
categories:
Upstream categories
	
Category 1—Purchased Goods and Services: 
Extraction, production and transportation of goods and 
services purchased or acquired by Eaton.
	
Category 2—Capital Goods: Extraction, production 
and transportation of capital goods purchased or 
acquired by Eaton.
	
Category 3—Fuel-and Energy-related Activities: 
Extraction, production and transportation of fuels and 
energy purchased or acquired by Eaton, not already 
accounted for in Scope 1 or Scope 2. 
	
Category 4—Upstream Transportation and 
Distribution: Transportation and distribution of 
products (excluding fuel and energy products) 
purchased or acquired by Eaton in vehicles and 
facilities not o
Keyword: governance
Governance
ESG Disclosures
public transportation. The remaining employees not in 
bussing programs were assigned a 0% participation in 
public transportation (as a conservative measure). 
Downstream categories
	
Category 9—Downstream Transportation and 
Distribution: Category 9 inbound emissions from 
transportation and distribution are included in 
Eaton’s Scope 3 Categories 1 & 2 emissions, which 
encompass the emissions from suppliers’ Scope 3 
Category 4 (i.e., the emissions from transportation 
and distribution to/from Eaton and paid for by Eaton’s 
suppliers). Thus, the remaining emissions to quantify 
in this Scope 3 category are those related to outbound 
transportation and distribution not paid for by Eaton. 
Because Eaton’s supplier base i
Keyword: governance
Governance
ESG Disclosures
The practices and procedures in MESH are developed 
to identify water and wastewater requirements and 
assure proper controls are in place to prevent these 
adverse impacts to the environment. Our water policy 
establishes the minimum requirements for all Eaton 
locations worldwide. Each Eaton site is required to meet all 
regulatory and water emission limits established by local 
authorities. If water emission limits are exceeded at a site, 
a thorough investigation is required to identify root causes 
and corrective actions. Corrective actions are tracked to 
closure in Eaton's internal audit tracking database.
Incidents and emergency situations
Eaton's Emergency Preparedness, Response and 
Communication standard provides
Keyword: governance
Governance
ESG Disclosures
MESH is designed to conform with international standards 
such as ISO 14001. Eaton’s Water MESH Element requires 
sites to review the use of water and identify areas where the 
use of water can be eliminated or reduced. 
More specifically each site is required to identify all sources 
of water used in operations including municipal, on-site wells, 
rainwater, recycled water, surface water, etc., track water 
intake monthly, track performance to water reduction goals 
annually, develop active inspection programs to identify leaks, 
develop water minimization plans to reduce water with an aim 
to reduce the use of intake/non-recycled water to zero, submit 
water reduction projects as part of the site’s profit planning 
proces
Keyword: governance
Governance
ESG Disclosures
Storage of water
Eaton does not currently keep track of total water stored. Due to the nature of Eaton's operations, we do not store large quantities 
of water.
Material water risks
Based on the results of Eaton’s Double Materiality Analysis and Impact, Risk and Opportunity Analysis, we have determined 
Eaton does not have any current or material potential financial risks due to water or marine resources. Eaton does not expect to 
have any potential financial effects of material risks and opportunities arising from water or marine resources related impacts.
BIODIVERSITY
Biodiversity is a new sustainability topic for inclusion in our 
sustainability reporting. As a result of our updated Double 
Materiality Assessment and Imp
Keyword: governance
Governance
ESG Disclosures
waste from the landfill and has an annual landfill waste 
reduction target of 2% absolute.
Eaton also has three product-related targets with circularity 
components. 
Eaton has three primary product-related targets that are 
part of our long-term 2030 goals: 
	
•	
Invest $3 billion in sustainable research and 
development between 2020-2030.
	
•	
Reduce Scope 3 emissions 15% by 2030 relative 
to our 2018 baseline. Emissions from product use 
represent 89% of scope 3 emissions.
	
•	
Increase revenue from the sales of sustainable 
solutions.
We track revenue from Eaton’s portfolio of sustainable 
solutions that enable electrification, energy transition, 
electric grid resilience, increasing efficiency in ground and 
air tr
Keyword: governance
Governance
ESG Disclosures
Non-hazardous waste in 2023 (metric tons)
Non-hazardous waste diverted from disposal due to recycling 
140,655
Non-hazardous waste diverted from disposal due to preparation for reuse 
25,648
Non-hazardous waste diverted from disposal due to other recovery operations 
–
Non-hazardous waste directed to disposal by landfilling 
8,178 
Non-hazardous waste directed to disposal by incineration 
13,481 
Non-hazardous waste directed to disposal by other disposal operations 
–
Total Non-hazardous waste 
187,962
Hazardous waste in 2023 (metric tons)
Hazardous waste diverted from disposal due to recycling 
2,303
Hazardous waste diverted from disposal due to preparation for reuse 
3,648 
Hazardous waste diverted from disposal due to ot