exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
experts, our investor relations team and our corporate governance team. As we have for several years, in 
2022, we engaged with over 40% of our institutional shareholders to discuss ESG topics.
“Tell us your primary risks and how 
you handle oversight of them.”
NGOs
We meet with nongovernmental organizations (NGOs) interested in our business practices. We also take 
part in industry efforts to raise awareness about the ESG responsibilities we all share.
“Work with us to elevate our 
causes to action and progress.”
Suppliers
We collaborate with our vendors and suppliers in an effort to lessen the environmental impact of the 
products we sell. We also focus on increasing our spend with diverse suppliers to help build inclusive and 
sustainable business opportunities for them and to meet the needs of our br
Keyword: governance
Governance
Ethics, culture, data privacy and security, risk management
  
 
 
 
 
 
 
 
 
  
  
Operate Sustainably | Operations
Energy Use
Carbon emissions, products
 
 
 
 
 
 
 
Hazardous Materials
Waste, disposal
  
 
 
 
 
 
 
 
Waste
Recycling, landfill, incineration
  
 
 
 
 
 
 
Water Use
Responsible consumption
  
 
 
 
 
Operate Sustainably | Products
Eco Actions
Water Conservation, Energy Efficiency, Responsible Chemistry, 
Sustainable Forestry
 
 
 
 
 
 
 
 
 
 
 
 
 
 
End of Life
Circularity, waste, recycling
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Transportation
Carbon emissions
 
 
 
 
 
 
 
Overview
Focus on Our People
Operate Sustainably
Strengthen Our Communities
Our Business
Reporting Frameworks
2023 THE HOME DEPOT ESG REPORT
23
Associates
Keyword: governance
For additional information on our board composition, visit the Corporate Governance section of our website.
Overview
Focus on Our People
Operate Sustainably
Strengthen Our Communities
Our Business
Reporting Frameworks
2023 THE HOME DEPOT ESG REPORT
32
n
69.2%
White
n
15.4%
Hispanic
n
15.4%
Black
n
72.7%
White
n
9.1%
Hispanic
n
18.2%
Black
n
75.0%
White
n
8.3%
Hispanic
n
16.7%
Black
Underrepresented Minority Groups 31%
White 69%
Underrepresented Minority Groups 25%
White 75%
Underrepresented Minority Groups 27%
White 73%
Female 31%
Male 69%
Female 18%
Male 82%
Female 25%
Male 75%
ASSOCIATE SAFETY
Our people are our most important assets. By focusing on workplace safety training and risk reduction, we help keep our associates and 
customers injury-free.
The Home Depot is committed to providing a safe 
environment for our as
Keyword: governance
Corporate Governance
97
Government Relations
99
Corporate Taxes
102
Data Security & Privacy
104
Overview
Focus on Our People
Operate Sustainably
Strengthen Our Communities
Our Business
Reporting Frameworks
We understand our responsibility to behave ethically, to understand the 
impact we have on people and communities, and to fairly consider the 
interests of a broad base of stakeholders.
CODE OF CONDUCT
Doing the Right Thing is embedded in our culture. That applies to how we serve customers, 
give back to communities, support our people and conduct our business. 
Our Business Code of Conduct and Ethics provides 
straightforward information about The Home Depot’s 
operating principles and offers tools to help 
associates make decisions that align with our ethi
Keyword: governance
CORPORATE GOVERNANCE
We understand our responsibility to behave ethically, to understand the impact we have on people and communities, and to fairly consider the 
interests of a broad base of stakeholders.
The Home Depot has a long-standing commitment to 
strong corporate governance, which promotes the 
long-term interests of shareholders, strengthens 
Board and management accountability, and helps 
build public trust in the Company.
Our Board of Directors has adopted policies and 
processes that foster effective Board oversight of 
critical matters such as strategy, risk management, 
financial and other controls, compliance, culture, ESG, 
and management succession planning.
Leadership Structure
On at least an annual basis, the Board assesses its 
leadership
Keyword: governance
Committee and Nominating & Corporate Governance 
(NCG) Committee - each comprised solely of 
independent directors and governed by a written 
charter that sets forth its purpose, composition, 
powers, duties and responsibilities.
Overview
Focus on Our People
Operate Sustainably
Strengthen Our Communities
Our Business
Reporting Frameworks
2023 THE HOME DEPOT ESG REPORT
97
OUR CORPORATE GOVERNANCE POLICIES REFLECT BEST PRACTICES:
Shareholder Protections
Board Engagement and Oversight
° Annual election of directors, with majority voting 
standard in uncontested director elections
° Shareholder ability to call special meetings and act 
by written consent
° A market standard shareholder right of proxy access
° Independent Lead Director
° Approximately 92% of directors and all Board 
committe
Keyword: governance
Corporate Governance Guidelines
° Independent directors meet 
without management
Learn More
Our proxy statement offers more details 
about our corporate governance and risk 
management. Go to our Corporate 
Governance Overview for additional 
information on our corporate governance 
practices.
Board Oversight of Risk
The Company has a robust framework designed to identify and ensure proper 
management of risk, including risk related to our ability to operate responsibly and 
sustainably. The framework that we use to identify and manage risk considers a 
number of enterprise-level issues, including competitive environment, brand and 
reputation, regulatory and compliance, and security, as well as external and internal 
factors that could distract the Company fr
Keyword: governance
° Corporate governance
° Director succession planning and 
board composition
° Corporate social responsibility, 
environmental, and responsible 
sourcing initiatives, risks 
and opportunities
° Policies on political activity, including 
political spending and payments to 
trade associations
° Related-person transactions
Overview
Focus on Our People
Operate Sustainably
Strengthen Our Communities
Our Business
Reporting Frameworks
2023 THE HOME DEPOT ESG REPORT
98
GOVERNMENT RELATIONS
We are guided by our Core Values when participating in the political process and recognize that 
we may need to balance competing interests when evaluating laws that impact our business.
We actively participate, and encourage our associates 
to participate, in the political process. O
Keyword: governance
The Nominating and Corporate Governance Committee of our Board of Directors 
provides additional oversight, conducting an annual review of our Political Activity 
and Government Relations Policy, the Company’s political contributions, payments 
to trade associations that engage in lobbying activities, and the Company’s support 
of ballot initiatives.
The Nominating & Corporate Governance Committee must approve in advance any 
public advertisement directly or indirectly paid for by the Company that expressly 
advocates the election or defeat of a candidate in which The Home Depot is 
identified specifically as an advocate of such election or defeat. To date, the 
Company has not made any expenditure for such electioneering communications, 
and has no present plans to make any suc
Keyword: governance
The Home Depot PAC’s finances, governance and communications are governed by 
a PAC Board. The PAC Board is chaired by the vice president of Government 
Relations and is made up of representatives from each functional area of the 
business and each field division to ensure a wide range of experiences 
and perspectives.
We provide transparency in our actions by publishing an annual report of the 
Company’s political contributions and the aggregate dues paid to trade associations 
that engage in lobbying activities, and any independent political expenditures by the 
Company supporting or opposing ballot initiatives and contributions to ballot 
measures committees. We list trade associations to which our Company makes 
yearly payments of $5,000 or more, and our PAC contributions are
Keyword: governance
Accountability & Governance
Tax governance is overseen by the Audit Committee 
of the Board of Directors. At least once a year, 
Company leaders report to the Audit Committee 
regarding our approach to managing taxes. Learn 
more about our Corporate Governance structure on 
page 97.
Risk Management
We identify and manage risks associated with taxes, 
including:
° Legislative uncertainty
° Reputational risk, including that a tax position taken 
by the Company may not be consistent with our 
guiding principles or may expose the Company to 
negative publicity
° Scarcity of talented tax professionals to recruit and 
hire as associates
Compliance
We comply with tax laws in the jurisdictions in which 
we operate, including reporting and paying our taxes 
in a timely manner
Keyword: governance
Governance Committee
AUDIT 
COMMITTEE OF 
THE BOARD
° Has primary responsibility for overseeing data security and privacy risks
° Receives at least quarterly updates (either directly to the Audit Committee or as part of a full 
Board update) from senior IT leaders, including our CIO and CISO, and the Chair of our Data 
Security and Privacy Governance Committee
° Receives periodic updates from our Chief Privacy Officer (CPO)
DATA SECURITY 
AND PRIVACY 
GOVERNANCE 
COMMITTEE
° Created to provide enterprise-wide awareness of data protection, privacy and 
cybersecurity matters, including oversight of related risks, mitigation and incident response 
plans, awareness and training programs, and regulatory compliance
° Chaired by our Vice President, Internal
Keyword: governance
GOVERNANCE 
COMMITTEE
° Provides leadership and oversight of our privacy and data 
governance programs
° Chaired by our CPO and composed of a cross-functional group 
across 20 departments
Governance
Our commitment to creating a safe and secure digital environment starts with the governance and oversight 
of our data security and privacy policies and strategy.
Cybersecurity Program
As cybersecurity attackers become increasingly more sophisticated, our program prioritizes threat mitigation, 
while focusing on maintaining the integrity and resiliency of our systems. We also continue to make investments 
to ensure our ability to identify, protect and detect security risks within our environment. In the event that we 
identify a security issue, we have de
Keyword: governance
Governance Program
The Home Depot values and respects the privacy of 
its customers and visitors. While operating our 
business and interacting with our customers, we 
collect, use, and disclose personal information. We do 
so to process and fulfill orders, to improve our in-store 
and digital offerings, to create consistent in-store and 
digital experiences, to protect the rights and 
information of our customers and our Company, and 
for the other purposes disclosed in our Privacy and 
Security Statement, which also provides information 
about how we collect, use and share information we 
collect from our customers and visitors.
° Privacy Principles
° Transparency - we are open and honest with 
how we use and disclose personal information.
° Contro
Keyword: governance
2-9 Governance structure and composition
Corporate Governance
Proxy Statement pgs. 1-24
Corporate Website – Investor Relations > Corporate Governance
2-10 Nomination and selection of the highest 
governance body
Corporate Governance
Proxy Statement pgs. 1-24
Corporate Website – Investor Relations > Corporate Governance: Corporate Governance Guidelines, Policy on 
Consideration and Evaluation of Board Candidates
2-11 Chair of the highest governance body
Proxy Statement pgs. 1-2
2-12 Role of the highest governance body in 
overseeing the management of impacts
Oversight of ESG, Associate Safety, Responsible Sourcing and Human Rights, Corporate Governance, 
Government Relations, Corporate Taxes, Data Security & Privacy
Proxy Statement pgs. 4-8
Corporate Webs
Keyword: governance
ite – Investor Relations > Corporate Governance > Committee Members & Charters
2-13 Delegation of responsibility for 
managing impacts
Oversight of ESG, Responsible Sourcing and Human Rights, Corporate Governance, Government Relations, 
Corporate Taxes, Data Security & Privacy
2-14 Role of the highest governance body in 
sustainability reporting
Oversight of ESG
2-15 Conflicts of interest
Proxy Statement pgs. 10-12
Corporate Website – Investor Relations > Corporate Governance: Business Code of Conduct and Ethics, 
Corporate Governance Guidelines
2-16 Communication of critical concerns
ESG Priority Assessment, Code of Conduct
Proxy Statement pgs. 8, 13
Corporate Website – Investor Relations > Corporate Governance: Business Code of Conduct and Ethics, 
Corporate Governance Guidelines
2-17
Keyword: governance
governance body
Oversight of ESG, ESG Priority Assessment
Proxy Statement pgs. 1-24
2-18 Evaluation of the performance of the highest 
governance body
Corporate Governance
Proxy Statement pg. 10
Corporate Website – Investor Relations > Corporate Governance > Committee Members & Charters > 
NCGC Charter
2-19 Remuneration policies
Proxy Statement pgs. 41-80
Corporate Website – Investor Relations > Corporate Governance > Committee Members & Charters > LDCC 
Charter, Corporate Governance Guidelines
GRI STANDARD / DISCLOSURE
LOCATION
Overview
Focus on Our People
Operate Sustainably
Strengthen Our Communities
Our Business
Reporting Frameworks
2023 THE HOME DEPOT ESG REPORT
112
2-20 Process to determine remuneration
Proxy Statement pgs. 41-80
Corporate Webs
Keyword: governance
ite – Investor Relations > Corporate Governance > Committee Members & Charters > LDCC 
Charter, Corporate Governance Guidelines
2-21 Annual total compensation ratio
Proxy Statement pgs. 75-76
2-22 Statement on sustainable 
development strategy
CEO Letter, Diversity, Equity & Inclusion (Spotlight with our Chief Diversity Officer), Q&A: Continuing Our 
Sustainability Journey
2-23 Policy commitments
Corporate Website – Investor Relations > ESG Investors
2-24 Embedding policy commitments
Oversight of ESG, Code of Conduct, Responsible Sourcing and Human Rights, Corporate Governance, 
Government Relations, Corporate Taxes, Data Security & Privacy
Proxy Statement pgs. 4-7
Corporate Website – Investor Relations > Corporate Governance: Business Code of Conduct and Ethics, 
Corporate Governance G
Keyword: governance
Corporate Website – Investor Relations > Corporate Governance: Business Code of Conduct and Ethics, 
Corporate Governance Guidelines
2-27 Compliance with laws and regulations
Code of Conduct, Responsible Sourcing and Human Rights
Form 10-K pgs. 10, 19
Corporate Website – Investor Relations > Corporate Governance: Business Code of Conduct and Ethics
2-28 Membership associations
2022 ESG Highlights (Canada and Mexico), Carbon Emissions Reduction, Responsible Chemistry, Community 
Partnerships, Optimized Supply Chain, Supplier Diversity
Corporate Website – Investor Relations > Corporate Governance: Political Activity and Government Relations 
Policy, Advocacy and Political Activity Report
2-29 Approach to stakeholder engagement
ESG Priority Assessment
2-30 Collective bargaining agreements
Form 10-K pgs.
Keyword: governance
Corporate Website – Investor Relations > Corporate Governance: Business Code of Conduct and Ethics
GRI 207: Tax 2019
207-1 Approach to tax
Corporate Taxes
207-2 Tax governance, control, and 
risk management
Corporate Taxes
207-3 Stakeholder engagement and management 
of concerns related to tax
Corporate Taxes
207-4 Country-by-country reporting
Corporate Taxes
GRI 301: Materials 2016
301-1 Materials used by weight or volume
Circularity, Recycle, Repair, Reuse, ESG Transparency
301-2 Recycled input materials used
Circularity, Recycle, Repair, Reuse, ESG Transparency
301-3 Reclaimed products and their 
packaging materials
Circularity, Recycle, Repair, Reuse, ESG Transparency
GRI STANDARD / DISCLOSURE
LOCATION
Overview
Focus on Our People
Operate Sustainably
Strengthen Our Communities
Our Business
Report
Keyword: governance
405-1 Diversity of governance bodies 
and employees
Diversity, Equity & Inclusion
Proxy Statement pgs. 14-24
405-2 Ratio of basic salary and remuneration of 
women to men
Diversity, Equity & Inclusion
GRI 409: Forced or Compulsory Labor 2016
409-1 Operations and suppliers at significant risk 
for incidents of forced or compulsory labor
Responsible Sourcing and Human Rights
Corporate Website – Responsibility > Resources & Reports > Responsible Sourcing Report, Responsible 
Sourcing Manuals and Responsible Sourcing Standards
GRI 413: Local Communities 2016
413-1 Operations with local community 
engagement, impact assessments, and 
development programs
2022 ESG Highlights (Canada and Mexico), Strengthen Our Communities
GRI 414: Supplier Social Assessment 2016
414-1 New su
Keyword: governance
Corporate Governance, Government Relations, ESG Transparency
Corporate Website – Investor Relations > Corporate Governance: Political Activity and Government Relations 
Policy, Advocacy and Political Activity Report
GRI 416: Customer Health and Safety 2016
416-1 Assessment of the health and safety 
impacts of product and service categories
Responsible Chemistry, Promoting Customer Eco Actions, ESG Transparency
GRI 418: Customer Privacy 2016
418-1 Substantiated complaints concerning 
breaches of customer privacy and losses of 
customer data
Data Security & Privacy
GRI STANDARD / DISCLOSURE
LOCATION
Overview
Focus on Our People
Operate Sustainably
Strengthen Our Communities
Our Business
Reporting Frameworks
2023 THE HOME DEPOT ESG REPORT
117
SUSTAINABILITY ACCOU
Keyword: governance
GOVERNANCE
Describe the board’s oversight of climate-related 
risks and opportunities.
Oversight of ESG
19
CDP Report; 2023 Proxy 
Statement pgs. 1-8
Corporate Governance
97-98
Describe management’s role in assessing and 
managing climate-related risks and opportunities.
Our ESG Goals and Progress
10-11
CDP Report; 2023 Proxy 
Statement pgs. 1-8
Oversight of ESG
19
ESG Priority Assessment
20-24
Corporate Governance
97-98
STRATEGY
Describe the climate-related risks and opportunities 
the organization has identified over the short-, 
medium- and long-term.
ESG Priority Touchpoints
23-24
CDP Report; 2022 Annual 
Report, pgs. 8-22; 2023 Proxy 
Statement, pgs. 1-8
Q&A: Continuing Our Sustainability Journey
48-49
Carbon Emissions Reduction
50-55
Describe t
Keyword: governance
Corporate Governance
97-98
Describe the company’s processes for managing 
climate-related risks.
ESG Priority Assessment
20-24
CDP Report; 2023 Proxy 
Statement, pgs. 1-8
Carbon Emissions Reduction
50-55
Corporate Governance
97-98
Describe how processes for identifying, assessing 
and managing climate- related risks are integrated 
into the company’s overall risk management.
ESG Priority Assessment
20-24
CDP Report; 2023 Proxy 
Statement, pgs. 1-8
Corporate Governance
97-98
METRICS & 
TARGETS
Disclose the metrics used by the company to 
assess climate-related risks and opportunities in 
line with its strategy and risk-management process.
Our ESG Goals and Progress
10-13
CDP Report
ESG Priority Assessment
20-24
Carbon Emissions Reduction
50-55
ESG Transparency
Keyword: governance
Corporate Governance Guidelines 
Board of Directors
2023 Proxy Statement
2022 Annual Report
Political Activity and Government Relations Policy
Annual Advocacy and Political Activity Report 
(2018-2022) 
Federal Election Commission: The Home Depot PAC
The Home Depot (U.S.) Privacy and Security Statement
Exercise My Privacy Rights
Reporting Framework
Pages 110 - 129
Global Reporting Initiative (GRI) Standards 
Sustainability Accounting Standards Board (SASB) 
Disclosure Matrix 
Task Force on Climate-Related Financial Disclosures 
(TCFD) Framework 
ESG Transparency 
EEO-1 Report
Overview
Focus on Our People
Operate Sustainably
Strengthen Our Communities
Our Business
Reporting Frameworks
2023 THE HOME DEPOT ESG REPORT
124
Keyword: bribe
Corruption and bribery Ethics and Compliance
Management of relationship with suppliers including payment practices Supply Chain
Political engagement and lobbying activities Government Relations
Protection of whistleblowers Ethics and Compliance
ADDITIONAL SUSTAINABILITY MATTERS
Community engagement Community Engagement 1 4 5 6 8
Health and safety Health, Safety and Environment
*U.N. Sustainable Development GoalsWEIVREVO
2023–2024 SUSTAINABILITY PROGRESS REPORT | Overview Return to Contents | Cummins Inc. | 12
U.N. Sustainable Development Goals
As a signer of the U.N. Global Compact in 2017, Cummins supports the U.N.’s Sustainable Development Goals to “end poverty, protect the planet and ensure prosperity for all.”
The examples below illustrate how company’s init
Keyword: bribe
and following the law everywhere; the 10 Ethical Principles in the Cummins Code of and treat all people with dignity and respect. Anti-Bribery and Prohibited
Payments Policy to the
Business Conduct touch every aspect of Cummins.
3 We will compete fairly and honestly. Employee Non-Retaliation
Policy and the Treatment of
That expectation is set from the very top, as data is regularly shared with the Board of
Each Other at Work Policy.
4 We will avoid conflicts of interest.
Directors, and in particular, the Audit Committee. In addition, Cummins’ Chair and CEO
Easy access to these
5 We will demand that everything we do leads to
consistently reinforces the importance of acting in accordance with Cummins’ policies; policies helps Cummins
a cleaner, healthier, and safer environment. create an ethical work
environment where employees
“As a global company striving to make people’s lives b
Keyword: bribe
from anti-bribery and conflicts of interest
suppliers are also able to report ethics
to preventing money laundering, data The Ethics and Compliance program
concerns via ethics.cummins.com.
privacy and preventing sexual harassment. includes an annual Ethical Champion
ETHICS CERTIFICATION SURVEY
Cummins has a strict no-retaliation Award that globally recognizes efforts by
The function communicates frequently with
policy protecting employees who make business segments, functions or regional Each year, Cummins requires the exempt
employees about how they play a critical
reports in good faith. Employees can teams that are actively enhancing their employee population to certify that they
role in maintaining the Code of Business
remain anonymous where allowed by p
Keyword: bribe
Anti-Bribery and Prohibited Payments Training 3,492
EthicsPoint, Cummins’ central repository, is the system where all investigation-related
Carefully Communicating with Technology and Social Media 2,291
information and documents are confidentially stored with appropriate access controls.
Code of Business Conduct Training 31,598
This allows for the maintenance, audit and review of the case records that help steward
Conflicts of Interest 31,813 proactive issue identification and risk mitigation.
Data Privacy Training 5,830
Doing Business Ethically 5,797
50% 49% 36%
Export Controls 6,108
Fair Competition 6,015
2,570 CASES IN CASES INSIDE U.S. CASES REPORTED
Protecting Human Rights in the Supply Chain 14,740 NORTH AMERICA ANONYMOUSLY
Treatment of Each Othe
Keyword: corruption
Corruption and bribery Ethics and Compliance
Management of relationship with suppliers including payment practices Supply Chain
Political engagement and lobbying activities Government Relations
Protection of whistleblowers Ethics and Compliance
ADDITIONAL SUSTAINABILITY MATTERS
Community engagement Community Engagement 1 4 5 6 8
Health and safety Health, Safety and Environment
*U.N. Sustainable Development GoalsWEIVREVO
2023–2024 SUSTAINABILITY PROGRESS REPORT | Overview Return to Contents | Cummins Inc. | 12
U.N. Sustainable Development Goals
As a signer of the U.N. Global Compact in 2017, Cummins supports the U.N.’s Sustainable Development Goals to “end poverty, protect the planet and ensure prosperity for all.”
The examples below illustrate how co
Keyword: tax
Earnings before interest, taxes, depreciation
addition of Meritor and strong demand retirement and separation programs of
and amortization (EBITDA) in 2023 was
across most global markets. $42 million, or $0.22 per diluted share.
$3.0 billion, or 8.9% of sales, compared to 15
Net income for the full year 2023 was Full year 2022 results included costs $3.8 billion, or 13.5% of sales, a year ago.
$735 million, or $5.15 per diluted share, related to the indefinite suspension of EBITDA for 2023 and 2022 included the
compared to $2.2 billion, or $15.12 per operations in Russia of $111 million, or costs noted above. 10
diluted share, in 2022. $0.72 per diluted share, and costs related
Operating cash flow for 2023 was a
to the separation of Atmus of $81 million,
2023 results inc
Keyword: tax
or $0.45 per diluted share. The tax rate
agreement to resolve U.S. regulatory claims $2.0 billion in 2022, as Cummins continues 5
in 2023 was 48.3%, which is higher than
of $2.04 billion, or $13.78 per diluted share, to focus on working capital management
our external guidance, primarily due to
within the business.
0
NOILLIB
6.32$
9102
NOILLIB
8.91$
0202
NOILLIB
42$
1202 2202 3202SLAICNANIF
2023–2024 SUSTAINABILITY PROGRESS REPORT | Company Financials Return to Contents | Cummins Inc. | 18
2023 REVENUE BY SEGMENT
25%
“High global demand for Cummins’ diverse
28%
set of innovative products drove record
DISTRIBUTION
ENGINE
full-year revenues and operating cash flow 1%
in 2023. Excluding the impacts related to SEGMENT
ACCELERA
14%
the agreement to resolve U.S. regulatory
claims,
Keyword: tax
before interest, taxes, depreciation and
amortization (EBITDA), net income and
$1.2 BILLION
earnings per share (EPS) for Cummins. 1200
Advancing this strategy requires significant
investment across the business, in the
900
company’s people, facilities and suppliers.
In 2023, Cummins continued to make
600
investments to develop new products
and improve current technologies to meet
future emission standards around the world,
300
allocating a record $1.4 billion to research
and development. Such investments include
improvements in fuel economy performance
0
NOILLIM
498$
8102
NOILLIM
899$
9102
NOILLIM
309$
0202
NOILLIB
1.1$
1202 2202 3202
LEARN MORE
Destination Zero
INVESTING IN RESEARCH
AND DEVELOPMENT (R&D):
Cummins invested a record amount in R&D in 2023.
Clessie
Keyword: tax
the Clean Hydrogen Production Tax Credit, hydrogen fueling, and promoted the
The company also will not use corporate funds to
a carbon tax or other subsidies. As such,
ensuring clean hydrogen projects get off Department of Energy’s Clean Fuels & contribute to 501(c) (4) and 527 tax-exempt groups in
Cummins continued to advocate for policies the U.S. engaged in political activities or make payments
the ground and help decarbonize hard-to- Products Shot™ for those hard-to-abate
to influence ballot issues unless the issues are directly
around the world that are technology-
abate sectors like power generation sectors that might not electrify as tied to the company’s core values and business interests.
neutral, market-driven and lower emissions.
and sustainable aviation. quickl
Keyword: tax
leaders from across the company, including believes they help ensure government leaders Business Roundtable $84,000 Trade, environment, taxes
know where the company stands on key issues.
Cummins Chair and CEO Jennifer Rumsey.
This chart lists U.S. trade organizations that Engine Manufacturers Association $30,042 Truck and engine manufacturing
Cummins leaders shared advice and
Cummins paid dues in excess of $50,000 during
perspectives on a series of topics, calendar year 2023. Listed with each group is U.S. Chamber of Commerce $17,500 Immigration, taxes
an estimate of the portion of dues used for
including leading with authenticity,
lobbying or other political expenditures.
American Trucking Associations $20,326 Trade, environmentNIAHC
YLPPUS
2023–2024 SUSTAINABILITY PROGRESS REPORT | Supply Chain Return to Contents | Cummins Inc. | 64
NIAHC
YLPPUS
Extending environmental initiat
Keyword: tax
women, veteran and LGBTQ+-owned businesses. Dominique Taylor - JMT Financial & Tax Services, Inc.NIAHC
YLPPUS
2023–2024 SUSTAINABILITY PROGRESS REPORT | Supply Chain Return to Contents | Cummins Inc. | 67
BEST PRACTICE SHARING: Improving supplier performance Convening the Environment SETTING SHARED GOALS
CUMMINS BACKSTAGE PASS
Sustainability Consortium The Consortium is guided by three core pillars:
PODCAST SERIES
The company has a team in the
climate and due diligence data integrity;
The Cummins Backstage Pass Podcast Series Procurement function dedicated to Cummins has a unique opportunity and
began during the height of the pandemic in 2020 stakeholder engagement; and governance.
identifying and mitigating risk in the supply responsibility to help solve the world’s
to educate and engage the company’s suppliers at a
The
Keyword: governance
2,570 GOVERNANCE ASPECT
138,962
Last year, Cummins received several notable honors
recognizing the company’s governance and business
KEY PERFORMANCE INDICATORS
successes. Those include:
GOVERNANCE Ethics
investigations Ethics and Compliance Placed in the Top 50, the company’s highest ranking ever
training course completion (from 63 to 49), in the Wall Street Journal’s Management
Top 250. The ranking is based on the principles of Peter
TOTAL CASES CLOSED
Cummins has long believed that good F. Drucker (1909–2005), an educator and author, who
wrote a monthly column at the newspaper. READ MORE
corporate governance is critical to ensuring
that the company is managed for the Maintained an ESG rating of AAA, the highest rating
possible, by Morgan Stanley Capital
Keyword: governance
outstanding environmental, social and governance (ESG)
Board diversity transparency and performance among the 1,000 largest
Research and development
U.S. public companies. The ranking is based on 180 factors
% OF WOMEN around the environment and climate change, employee
relations, governance, human rights, stakeholders and
society, and overall ESG Performance. READ MORE
Received the 2023 National Association of Corporate
Directors (NACD) Award recognizing exemplary
board practices related to Diversity, Equity & Inclusion
(DE&I). READ MORE
Named the industry leader in the Commercial Vehicle and
Machinery category for America’s Most Just Companies,
recognizing companies that are committed to using their
influence to make the world a more just place. READ MOREWEIVREVO
2023–2024 SUSTAINABILI
Keyword: governance
2023-24 Sustainability Key Performance Indicators: Governance 5
PLANET 2050 goals for 2030 25 CYBERSECURITY
Progress Report.
Sustainability at Cummins 7
2030 goals at a glance 35 Cybersecurity works to protect
Who we are 8 data and intellectual property 55
Now in its 20th year, we invite you to explore
the many ways in which Cummins is truly and Cummins’ story 9 COMMUNITY ENGAGEMENT
RISK MANAGEMENT
comprehensively delivering on our mission of
Focusing on what matters 10 Cummins is committed to building
making people’s lives better by powering a more prosperous communities 36 Cummins’ risk management program
more prosperous world. U.N. Sustainable Development Goals 12 key to navigating dynamic environment 57
In the spirit of continuous improvement Leading through the energy transition 13 HEALTH, SAFET
Keyword: governance
and governance (ESG) issues have been critical elements of Global Reporting Initiative (GRI) and other
process. Cummins reports environmental data from
top sustainability platforms. Since 2019, consolidated operations and joint ventures that are part
the company’s long-term business and growth strategies.
of its Enterprise Environmental Management System.
in addition to this report, the company
Reported values reflect significant structural changes,
has posted reports to the following such as acquisitions and divestments, in accordance with
the GHG Protocol. The addition of Meritor Inc. in 2022, for
sustainability frameworks:
Long before ESG entered the general lexicon, Audit Committee; and the Governance and instance, prompted the addition of historic d
Keyword: governance
governance (ESG) transparency and performance among
the 1,000 largest U.S. public companies. The ranking is based
on 180 factors around the environment and climate change,
employee relations, governance, human rights, stakeholders
and society, and overall ESG Performance. READ MORE
Received a 2023 Energy Management Insight Award
from the Clean Energy Ministerial (CEM), a high-level global
forum to promote policies and programs that advance
clean energy technology, to share lessons learned and best
practices and to encourage the transition to a global clean
energy economy. READ MOREWEIVREVO
2023–2024 SUSTAINABILITY PROGRESS REPORT | Overview Return to Contents | Cummins Inc. | 15
WEIVREVO
Cummins’ commitment: and behaviors and establish a commitment t
Keyword: governance
retirement of former Chairman of the significant governance duties, including
Board Tom Linebarger, the only member of chairing the Governance and Nominating
the board employed with Cummins is his Committee as well as all executive sessions
successor, Chair and CEO Jennifer Rumsey. of the independent directors. The Chair of
the board of directors oversees the board’s
All Cummins directors are elected annually.
activities, including running the board’s
In addition, the board annually elects an
meetings. The Chair and Lead Director
independent Lead Director whenever the
work together to create meeting agendas.
Chair and CEO roles are combined or when
More about the board’s structure is
available in the 2024 Proxy and the
Board of Directors website.
Composition of the board
Board members’ diverse back
Keyword: governance
corporate governance practices
and structure in 2023, click here. been previously reported.
ECNAILPMOC
DNA
SCIHTEECNAILPMOC
DNA
SCIHTE
2023–2024 SUSTAINABILITY PROGRESS REPORT | Ethics and Compliance Return to Contents | Cummins Inc. | 53
ETHICS AND COMPLIANCE TRAINING FOR 2023 ETHICS INVESTIGATIONS
Ethics and Compliance training had more than 138,000 course completions in 2023. Investigations ensure adherence to the Code of Business Conduct and its underlying policies.
Courses were offered virtually and in person. Special emphasis was placed on training The investigations process at Cummins has been in place since 1996 and has evolved over the
courses that focused on the Code of Business Conduct, Conflicts of Interest and years to reflect the company’s commit
Keyword: governance
Cybersecurity governance the Chief Information Officer. These leaders receives a report discussing product-level
provide regular updates to the Board of vulnerability management, product-level
Cummins is committed to protecting its Information Technology (IT)
Directors’ Audit Committee on cybersecurity incident management and the status of
assets and the data stored within these assets. This commitment risks. Through these updates, the Audit relevant product cybersecurity activities.
Committee receives a cybersecurity
includes the protection of IT assets relevant to operations, stakeholder The board and its committees are
dashboard illustrating the status of key
engaged in the oversight of Cummins’
data (including employee, customer and supplier data), intellectua
Keyword: governance
began during the height of the pandemic in 2020 stakeholder engagement; and governance.
identifying and mitigating risk in the supply responsibility to help solve the world’s
to educate and engage the company’s suppliers at a
These pillars are the foundation for the
time when it was not feasible to meet with partners chain, both forward-looking and reactive. climate challenges. Recently, the company
in person. Four years later, the Backstage Pass Consortium’s collective strategy and work
In the last year, Cummins launched a critical launched the Environmental Sustainability
Podcast has expanded to include a global audience of
plans. Cummins convenes Consortium
employees, customers, suppliers and individuals with project to identify high-risk suppliers, Consortium, a member organization of
thousands of subscribers and downloa
Keyword: bribe
Anti-Bribery Ethics Policy Yes
Employee Privacy Statement Yes
Employee Protection / Whistle Blower Policy Yes
Health and Safety Policy Yes
Renewable Electricity Target Policy No
Energy Efficiency Policy No
Green Building Policy No
Environmental Supply Chain Management Policy No
Climate Change Policy Yes
Biodiversity Policy Yes
Global Code of Conduct Yes
Supplier Code of Conduct Yes
2023 Sustainability Report | AllstateSustainability.com The Allstate Corporation65
Learning and Development Breakdowns
Learning and development at Allstate includes a wide variety of programs and
providers. The data below represents hours from four of Allstate’s 2023 Degreed
learning and development providers (getAbstract, LinkedIn Learning, Spark and
Udemy) and does not inc
Keyword: tax
- $203 million in low income housing tax credit
- We developed roadmaps for establishing funds
a baseline and strategy for financed
• Enhance processes for responsible investing.
emissions. We expanded data coverage
to include more private firms and used - We reassessed our approach and aligned our
an estimation process where data is policy, as appropriate, with credible frameworks,
unavailable. Lastly, we tracked emissions such as the UN Principles for Responsible
reductions on an absolute basis and Investment, and offered training on the policy
established an initial financed emissions to the Portfolio Management team. We’ve
inventory for applicable asset classes in our enhanced our private asset and external
public and private portfolios. manager diligence processes and will m
Keyword: tax
low-income housing tax credit (LIHTC) fund policy requirements.
investments, Allstate also requests that sponsors
Our investment professionals participate in annual
provide ESG key performance indicators (KPIs)
training, as outlined in the Responsible Investing Policy.
as part of the diligence process. Allstate may
We incorporate tools for sustainability and climate-
request side letter provisions to ensure sponsors
related data into our processes. In 2021, we began
will provide regular reporting on key KPIs that are
using ESG data feeds and analysis from expert research
relevant to Allstate.
firms to assess our assets, exposures and ESG risks.
We also capture KPIs for certain asset classes. For By the end of 2025, we will establish a target for Scope
example, f
Keyword: tax
Since 1997, Allstate has invested capital in low-income housing tax credit (LIHTC) funds
which address the affordable housing shortage in the United States by attracting
private investment into the development or rehabilitation of rental properties for low-
income households. As of Dec. 31, 2023, the book value of Allstate’s diversified portfolio
of 113 LIHTC funds was approximately $1.4 billion, with about $2.6 billion in invested
equity since 2007. Of the total book value, $203 million was added in 2023.
We invest in select products that ensure quality education at all levels, in services that
ensure quality healthcare and in the development of telecommunications infrastructure
that helps reduce the digital divide in less developed countries or areas.
The carrying value of investments provided to benefit
Keyword: tax
Description of prohibition of tax Allstate prohibits tax avoidance through transfer pricing or jurisdictions enabling
avoidance through transfer pricing tax base erosion and profit shifting.
and jurisdictions enabling tax base
erosion and profit shifting
Number of information security*** In 2023, Allstate had 3 information security breaches which were appropriately
breaches in 2023 addressed and managed according to our policies and practices.
Ratification of Independent Auditor
94%
Support Level
Description of CEO's short-term bonus
0%. The CEO’s short-term incentive does not include a stock option.
deferral percentage
Description of shareholder rights or a Allstate does not have a poison pill plan. Please see Allstate’s most recent
"poison pill" plan Proxy Statement for more information.
EEO-1
Keyword: governance
Board. The Board's Nominating, Governance and Social
opportunities to our employees, we harness
Responsibility Committee closely monitors Allstate's
diverse ideas and products to help protect
political contributions and activities, including holding
customers while attracting, retaining, developing
joint sessions with the Board to ensure comprehensive
and rewarding the best talent.
oversight. See Allstate’s 2024 Proxy Statement, Public
Policy Report and the Planet section of this report for
details on Allstate’s policy engagement activities.
2023 Sustainability Report | AllstateSustainability.com The Allstate Corporation8
Materiality
Assessment
Materiality in our sustainability reporting is focused on sustainability topics
and does not directly correspond to the concept of materia
Keyword: governance
social and governance (ESG) Allstate’s most significant environmental, social and governance risks,
risks, opportunities and impacts, opportunities and impacts. We led focus groups with employees
integrating stakeholder feedback and agents, and interviewed external stakeholders, which included
into our governance strategy and investors, suppliers and business partners. Then we evaluated the
reporting. findings and the priorities of each stakeholder to guide our reporting,
management and engagement strategies.
Validation
After stakeholder engagement, we summarized the key findings and
prioritized topics based on the significance of each one on Allstate
and our stakeholders. The ESG Steering Committee then reviewed and
confirmed the results. Read more in Accountability and Action.
2023 Sustainability Report | AllstateSustainability.
Keyword: governance
strategy, Societal Engagement Corporate Governance and
Board Composition
Framework and Our Shared Purpose, Financial Sustainable
Employee Health, Safety Inclusion Investment
which emphasize customers, and Well-Being
Nature and Other Community
products, innovation, climate Human Rights E Imn pvi aro ctn smental E ann dg a Gg ive im ngent
resilience, data privacy and Inclusive
Diversity & Equity. These results
Sustainable
will guide future strategies and the Procurement
development of actions and topics
highlighted in this report.
Significance to Stakeholders
Environmental Social Governance
Accountability and Action
with leadership from across the company to guide
Allstate’s sustainability efforts and reports regularly to
Allstate uses the findings of the materiality the nominating, governan
Keyword: governance
Our governance approach underscores Allstate's
senior vice president of Corporate Strategy and the chief
dedication to sustainability practices and
sustainability officer. The ESG Steering Committee meets
accountability throughout our operations. The Board
regularly to consider sustainability issues and initiatives
has a central role in overseeing environmental, social
and ensure a holistic approach to environmental, social
and governance matters, with support from the
and governance considerations across the organization.
Nominating, Governance and Social Responsibility
The Sustainability team, led by Allstate’s chief
Committee. The Board receives regular updates on
sustainability officer, provides additional oversight of
sustainability issues, showcasi
Keyword: governance
oversees Allstate’s ERRM, also supports risk management governance.
Allstate’s chief risk officer (CRO) reports to the CEO and has the highest
operational responsibility for managing, monitoring and auditing risk.
For example, the CRO presents the Risk and Control Report to the Audit
These objectives Committee twice a year to facilitate oversight. This report provides an
overview of enterprise risks, including significant control issues identified by
encompass priorities
Internal Audit, highlights key changes in internal risk processes that could
such as maintaining impact the effectiveness of internal controls and incorporates Internal Audit’s
capital strength, review of controls over key risks and related audit results.
solvency, and liquidity, The Enterprise Risk and Return Council (ERRC) directs ERRM
Keyword: governance
governance, and investment collaborate on risk management. Through these
information. channels, Allstate regularly identifies, measures, manages, monitors and
reports significant risks, including those affected by climate change, financial
markets, cybersecurity and privacy threats.
Emerging Risks
In 2023, Allstate identified artificial intelligence (AI) and state-specific
regulatory environments as two emerging risks.
Outputs from generative AI can have exponential benefits but also significant
challenges associated with accuracy, ethics, bias, privacy, security and
emerging regulations. To mitigate these risks, Allstate maintains a robust
model risk and return management program, and developed responsible
usage guidelines for generative AI in 2023.
Keyword: governance
for nomination. Our Nominating, Governance and
Social Responsibility Committee considers race,
In 2023, Inclusive Diversity & Equity (IDE) activities gender, ethnicity and other factors to ensure the
were strategically concentrated on establishing the Board reflects diverse viewpoints, backgrounds, skills,
foundation of the IDE ACT (Accountability, Clarity, experiences and expertise.
Transparency) Framework in business areas. They
all now have an Inclusion Council or an IDE Business
2021 2022 2023 2024
Lead who partners with Human Resources to achieve
our corporate IDE strategy. We expanded the IDE
Number of Board of
12 11 12 13
strategy to business areas with consistent IDE Directors
SMART goals. At the end of 2023, business units had
accomplished over 75% of their goals. % of Boa
Keyword: governance
Insurance, investment, reputational and regulatory • The Board’s Nominating, Governance and Social
risks are significantly impacted by climate Responsibility Committee oversees Allstate’s
change. Severe weather is increasing loss costs environmental, social and governance priorities
for homeowners insurance, climate change poses and reporting.
physical risks to real estate and infrastructure
• The Board's Risk and Return Committee oversees
investments, and increased catastrophes are affecting
the effectiveness of Allstate’s ERRM framework,
employees and customers.
governance structure and decision-making.
In assessing climate change and its substantive
• Allstate’s chief risk officer is responsible for
impact on the company, Allstate considers multiple
the design and execution of Allstate’s risk
factors such as the pace of ch
Keyword: governance
framework. It includes governance, processes, culture
Severe weather and climate change have negative
and activities that are performed on an integrated
impacts on biodiversity. More frequent and severe
enterprise-wide basis, following our risk and return
wildfires and associated smoke affect human
principles. Under the ERRM framework:
health, water resources and wildlife. Snowstorms,
• The Insurance Risk and Return Analytics team flooding and heat waves affect water, energy and
and Pricing groups assess climate change transportation infrastructure. Biodiversity loss has
information and update product leadership. significant negative impacts. We include biodiversity
considerations as part of our commitment to the
• The Responsible Investing Committee and
global transition
Keyword: governance
resources, training and governance
guidelines that ensure we maintain
ethics and integrity in all business
processes and business relationships.
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Responsible
Investing
Our Ambition
Most consumers know us as one of America’s largest insurers, but we’re a lot more. Another way we provide security
and protection for customers is through our activities as an institutional investor. We manage a $66.68 billion
investment portfolio, and we know that sustainability factors can influence investment performance. Allstate’s
investment analysis and decision-making processes consider these factors along with our values.
Allstate makes