exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: tax
Other Riders, Taxes and Fees: The cost related to $97
systems to accommodate new technologies such as
taxes and other surcharges on the bill. $83
DER and electric vehicles, and delivering customer
value in a changing energy landscape.
Illustrative Electric and
Electric Supply: The cost related to the acquisition of
Gas Bill Breakdown
electricity, generally through wholesale markets. The
procurement process is closely regulated by state
Delivery Supply Taxes and Fees U.S. PHI BGE PECO ComEd
authorities. Due to Exelon’s T&D only business model
Average
and state competition laws that prohibit T&D utilities
from owning or investing in power generation, Exelon
does not own any power generation resources. The [1] Median income by territory metro areas (MSAs or CBSA
Keyword: tax
Other Riders, Taxes and Fees: The cost related to funding
for specific programs such as state mandated targets, EE
goals, etc. as well as taxes and other surcharges.
EExxeelloonn SSuussttaaiinnaabbiilliittyy RReeppoorrtt 22002222 7700Customer Affordability The U.S. Department of Energy’s (DOE) energy burden average among the largest 20 metropolitan cities for
calculation can be a useful approach to understand which rates are reported. This is a direct reflection
Perspectives
affordability from our customers’ point of view. DOE of our work to prudently manage capital and drive
defines energy burden as the percentage of gross O&M efficiencies, while empowering customers to
Customer affordability and cost management remain
household income spent on energy cost.
Keyword: tax
businesses during site selection, support solutions to led the charge for favorable, new state level tax
meet customer demand and establish collaborative incentives, encouraging data center investments.
development teams to catalyze business growth in key In 2020, BGE and its partners followed suit, gaining
areas such as data centers. beneficial data center legislation in Maryland. While
in 2021, PECO and other advocates cited the benefits
During the site selection process, we receive of the Illinois and Maryland incentives as similar
information requests from stakeholders who are legislation was passed in Pennsylvania. In 2022, our
interested in learning about competitive energy utilities continued to focus on enablement of data
markets, supplier selection standards and the role centers in our service areas in support of local and
of the reg
Keyword: tax
tax base goals of the communities we serve. carbon footprint, meet community expectations
more readily and reduce their energy costs. Our
Exelon’s Economic Development Teams from all our utility economic development representatives
Exelon helps power the economic
utilities meet regularly to share and develop best are positioned to have these conversations with
health and well-being of the practices to drive economic development progress in customers and stakeholders.
our service areas. In recent years, these teams have
diverse communities we serve.
constructed breakthrough outcomes for economic
advancement for the communities and industries
Exelon Sustainability Report 2022 86In 2021, our economic development teams partners with Intersect Illi
Keyword: tax
EExxeelloonn SSuussttaaiinnaabbiilliittyy RReeppoorrtt 22002222 8888In 2022, Exelon arranged $140 million in credit lines Exelon Corporation and Subsidiaries—2022 Taxes Paid[1]
with 22 community and minority-owned banks in
Illinois, Maryland, New Jersey and Pennsylvania,
Paid by Collected and Remitted by Exelon Entity Total Taxes Paid or Collected
—
reinforcing the company’s commitment to invest in Exelon Entity on Behalf of Government Agencies and Remitted by Exelon Entity
local communities. These transactions help grow
Dollars in Thousands
local businesses as well as the local economy and
are critical to communities that remain challenged
Federal Income, Payroll
$258,903 $625,697 $884,600
in current economic conditions. Exelon’s minority and Other Taxes
and community banking program, which began in
State and Local Taxes[2]
2003, is unique to the energy industry. Administered
by JP Morgan Chase since its
Keyword: tax
Total 2022 Taxes Paid $1,624,555 $1,670,201 $3,294,756
Taxes are another important way Exelon supports
local growth and development. In 2022, Exelon
[1] Numbers reported on a tax basis and rounded in each jurisdiction to the nearest one thousand dollars. Excludes taxes paid by Constellation entities.
paid, or collected and remitted, a total of almost
[2] State and local taxes include: Income and franchise; payroll; property; sales and use; and/or utility and other taxes as applicable in each jurisdiction.
$3.3 billion in taxes. Of this total, we paid over $1.6
billion in federal income and payroll taxes and
state income/franchise, payroll, property, sales/
use and utility taxes directly related to our business
operations. Exelon collected and remitted to
f
Keyword: tax
additional taxes, such as employee payroll, sales/use
and utility taxes.
Exelon Sustainability Report 2022 89y Of the 650 work-ready adult graduates of one of
Exelon’s infrastructure academies or other job
training programs, nearly 300 were hired either by
Exelon or other companies.
y Participants in our other workforce development
programs have achieved other successes, such as:
received internships, earned college scholarships or
increased their knowledge of STEM and STEM careers.
y Since 2019, when we began to synergize our
Workforce Development efforts, 1,432 people had
been hired (internally or externally) through our job
training and other programs.
Powering Our Communities
STEM Education
Through Workforce Development
Creating a reliable workforce pi
Keyword: tax
regular reports to the Audit and Risk Committee tax policy, workforce development and other related
as a fundamental value and affirms the company’s
of Exelon’s Board of Directors. This structure business issues. In many cases, we are in alignment
commitment to supporting, respecting, and
increases independence, ensures central oversight with the advocacy positions of these organizations, but
protecting human rights in our relationships with
of compliance activities and facilitates sharing of not always. When our views diverge, we may advocate
our employees, suppliers and business partners.
insights regarding compliance, ethics, audit and for change in the association’s positions. In addition, we
The policy is guided by the United Nations Guiding
enterprise risk matters across operating com
Keyword: governance
Corporate Governance 122
Exelon’s Business Strategy 25
Hourly Pricing and Smart Usage Rewards 75
Board Oversight 123
Building Value Through Technology 27
Energy Efficiency Programs 76
Investor Engagement 124
Investments to Benefit Customers and Communities 32
Customer Satisfaction 77
Sustainability Governance 125
Operational Excellence 33
Enterprise Risk Management 127
Supporting a Clean Energy Policy Transformation 34 Safely Powering Reliability and Resilience 78
Compliance and Ethics 128
Our Ongoing Strategy Commitment 40
Reliability Performance and Investments 79
Sustainable Supply Chain 131
Disaster Preparedness and Awareness 81
Addressing Climate Change Through
Transition and Adaptation Planning 41 Physical Security, Cybersecurity and Business Continuity
Keyword: governance
Corporate Governance
AppendixBy the Numbers
9.1 million 97.0 percent $5.8 million
electric utility customers natural gas customers with advanced meters employee giving campaign
1.3 million 24.8 million 9,549 acres
natural gas customers MWh saved during 2022 through utility managed under Wildlife Habitat Council
customer energy efficiency (EE) programs and/or National Wildlife Federation programs
21.7 million 200,100 100 percent
population of utility service areas customers with distributed energy connected Environmental Management System
(EMS) certification
94.8 percent $48.1 million 19,063
electricity customers with smart meters charitable giving employees
Exelon Sustainability Report 2022 6Cautionary Statements Regarding
Forward-Looking Information
This repo
Keyword: governance
the areas of economic, social, governance and
environmental initiatives. Exelon is committed
Exelon aspires to follow voluntary reporting best
to reporting on our sustainability performance
practices, including aligning with the Global
annually. Unless otherwise noted, this report
Reporting Initiative (GRI), Sustainability Accounting
presents information and data that reflect the
Standards Board (SASB) and the Task Force on
post-separation footprint of the current day T&D
Climate Related Financial Disclosures (TCFD). We
utilities business of Exelon. On February 1, 2022,
also engage with an accredited third-party GHG
the power generation and competitive energy
verifier, Lloyd’s Register Quality Assurance, Inc.
marketing business that had previously been
(LRQA), to provide verificat
Keyword: governance
environmental, social and governance (ESG) topics is annual benchmarking of best practices section on Delivering Sustainable Value as the
central to our mission of providing reliable, affordable Premier T&D Utility. In the table below, we map the
y Media and stakeholder reviews of the company
and innovative energy products and services that SDGs aligned with our business alongside our key
and our sector
enable increasingly lower carbon energy as our sustainability topics and their importance. We list our
industry transforms. By aiming for the highest ethical sustainability topics alphabetically by report section.
y Our annual Ceres stakeholder engagement dialogue
standards, operational excellence and environmental
stewardship, we strive to conduct business in a way
y Sustaina
Keyword: governance
Corporate Governance
An ethical culture with strong corporate governance and risk management processes, in concert with the Exelon Board Corporate
Corporate Governance
16 Governance Committee’s oversight of Exelon’s sustainability performance, is critical to maximizing Exelon’s operational results,
and Ethics
reducing risks and ensuring compliance with applicable laws and regulations.
Exelon’s businesses are subject to a wide range of laws and regulations. Exelon engages with policy makers to advance solutions that
Policy Engagement 13 support our business interests, provide value to customers and create desirable outcomes for stakeholders. This includes encouraging
our industry associations to support robust, forward-looking responses to combat climate change
Keyword: governance
power the economic well-being of the large and diverse Corporate Governance
metropolitan and surrounding areas that we serve.
Appendixrenewable energy into the grid system. Additionally,
to strengthen the T&D system through enhanced
We remain committed to
reliability and resilience measures to continue
supporting equitable and to address issues such as the potential effects of
affordable economy-wide climate change on our systems and cybersecurity.
As we deploy capital, we remain focused on financial
decarbonization and resilience in
discipline through maintaining a strong balance sheet
the face of climate change as we and investment grade ratings to manage borrowing
costs while maintaining affordable T&D electric and
execute our business strategy.
gas utility rates. As a pure T&D company we have
the opportunity t
Keyword: governance
are inextricably linked. Corporate Governance
AppendixTherefore, we are focusing on both eliminating future Relationship Between
GHG emissions (transition planning) and preparing for
Many actions we are taking are Business Strategy, Climate
the unavoidable physical impacts of climate change
not just for the sake of climate Strategy and Transition Plan[1]
already occurring (adaptation planning).
change mitigation or adaptation
We also recognize that, since climate change will
but because they are good
have a disproportionate impact on under-resourced
b suu cs cin ee sss s
a
p
s
r wac et tic rae ns st ih tia ot
n
p tr oo m
a
ote c co limm am teu n ci hti ae ns g, s eo il mut pio an cts
s
f ao nr da d tra ap nti sn itg
io
t no
i
np gh y thsi ec al O v e r Ca lill
m
B au ts ei n Se trs as
Keyword: governance
Governance
Oversight of Climate-Related
Program Structure
Risks and Opportunities
Exelon maintains a Climate Change Policy that
establishes our corporate position, and we have
Governance Strategy developed a Path to Clean program that outlines
our GHG mitigation goals and how we will drive
Oversight of climate-related Advancing business strategy through to achieve them. The Exelon Board’s Corporate
risks and opportunities climate change scenario analysis Governance Committee oversees the company’s
strategy and performance for addressing
Exelon maintains a Climate Change Policy Exelon is in the energy delivery business,
sustainability and environmental issues, including
and has established its Path to Clean and our vision is to deliver safe, reliable,
Keyword: governance
Corporate Governance Committee have key connecting ~10 million customers with
Senior Vice President and Chief Strategy and
roles in overseeing Exelon’s management of the energy sources of the future.
Sustainability Officer is responsible for coordinating
climate change issues, and our Sustainability
the Sustainability Council and overseeing the
Council provides executive-level oversight
establishment and maintenance of our climate
and advice to management.
change efforts in coordination with our broader
business strategy, reporting to the Board’s Corporate
Governance Committee at least annually on climate
Risk Management Metrics and Targets change related programs. We report progress on
our GHG mitigation goal to executives quarterly and
have added our annual
Keyword: governance
of energy. Whether beneficial electrification of homes and Corporate Governance
businesses through customer-sited solar or adoption of electric
Appendix
vehicles, our utilities are actively engaged in supporting our
communities and jurisdictions through our focus on smart grid
infrastructure and programs enabling customers to seamlessly
participate in the energy system transformation.The promise of an affordable and clean energy
economy is important for all communities, especially
those disproportionately impacted by underinvestment
in economic opportunities, education and training and
by environmental factors such as degraded local air
quality and climate change impacts.
Creating a Smart
Power Grid Smart
Power
Grid
A smart grid is a modern electrical system that uses automated data collection,
two-way communications
Keyword: governance
Corporate Governance
to better understand and fulfill the needs of our customers
Appendix
through direct engagement and customer surveys.Hourly Pricing and
We are committed to assisting
Smart Usage Rewards
our customers in understanding
and actively managing their
energy usage with a focus on
affordable and equitable energy, To help customers manage their costs and reduce use during off-peak times and avoid overloading
energy loads during peak times, each of the Exelon the grid. Commercial and industrial peak demand
and harnessing opportunities to
utilities offers hourly pricing or smart usage rewards. programs are also in place in several of our service
reduce energy consumption to These programs include remote management of territories to help these customer
Keyword: governance
Corporate Governance
prepare our grid and digital infrastructure to endure
Appendix
potential events, optimize our services for our customers
and enhance the safety of our customers and employees.Reliability Performance
and Investments
All of Exelon’s utilities focus on achieving a high level y Targeted reliability upgrades to address areas
of reliability and maintaining excellent customer where reliability is below the system average
service. In 2022, we sustained strong electric reliability
y Replacements and upgrades of overhead
performance (SAIDI), minimized the average number
infrastructure to reduce equipment failures and
of electric service interruptions per customer (SAIFI)
strengthen the system against storms
and reduced our average electric service o
Keyword: governance
Corporate Governance
and clean energy opportunities are fair and accessible. Our
employees give back to the communities where we live and Appendix
work through employee philanthropy and volunteerism.Economic Development
Helping local businesses and economies to grow is we serve. For example, in 2019, ComEd and its Illinois
essential to how our utilities operate. Our companies economic development stakeholders recognized
respond to utility requirements for new and expanding data centers as a significant growth sector. This team
businesses during site selection, support solutions to led the charge for favorable, new state level tax
meet customer demand and establish collaborative incentives, encouraging data center investments.
development teams to catalyze busi
Keyword: governance
Corporate Governance
maintaining climate resilience and mitigating any potential
Appendix
environmental impacts. We have established metrics for our
environmental impacts and report our progress against these
metrics every year.Key Crossing
Exelon is dedicated to expanding and deepening our role as environmental
As part of the Key Crossing Reliability Initiative,
stewards across the diverse and invaluable ecosystems where we operate. BGE conducted tidal wetland enhancement
to mitigate the impacts of filling wetlands to
install transmission towers in the Patapsco
River. The transmission improvement project
was vitally important to maintain secure and
Habitat and Biodiversity
reliable service throughout the Baltimore area.
BGE used geographic information system
Keyword: governance
Corporate Governance
AppendixAccelerating Our Commitment
to Diversity, Equity and Inclusion
At Exelon, Diversity, Equity and Inclusion (DEI) are advancement and retention are integral to each
core values. We embrace and leverage diversity and council’s strategies and programming. In addition
ensure an equitable and inclusive culture, as we to this core function, the Councils also serve
continue to innovate, grow and meet the dynamic as critical partners to our executive leaders as
needs of our employees, customers and communities. they determine appropriate responses to issues
impacting our employees and communities.
Diverse Workforce
The Board also engages with management on issues
In 2022, Exelon’s Racial Equity Task Force— related to DEI and corporate cultu
Keyword: governance
Corporate Governance
Adaptation Planning
Advancing Clean Energy and
Affordable Energy Choices
We designed our governance structure to uphold our dedication
Delivering a Top Tier
to integrity and sustainability in our value chain. Our designated Customer Experience
leadership teams actively evaluate and track our efforts to inform
Safely Powering Reliability
our actions, as we continue to strengthen our policies, programs and Resilience
and communications, such as human rights, supplier diversity
Supporting Communities
and investor engagement. By integrating these values from the
Board-level throughout our supply chain, we can drive progress, Environmental Responsibility
monitor risks and enhance accountability.
A Safe, Innovative and
Rewarding Workplace
Corpor
Keyword: governance
ate Governance
AppendixBoard Oversight
The Corporate Governance Committee of the Board Board of Directors:
is responsible for overseeing Exelon’s climate
2022 Key Statistics[1]
change and sustainability policies and programs and
providing reports to the full Board. All members of the
Board, with the exception of Exelon’s President and
CEO, are independent under applicable law and the 88% 38%
listing standards of the NASDAQ Stock Market, LLC,
as incorporated into the Independence Standards for
Directors in Exelon’s Corporate Governance Principles. independent women
Our eight-member Board includes three women and
four racially/ethnically diverse members, with an
average director tenure of approximately 3.4 years.
50%
50% black
Stakeholders and other intere
Keyword: governance
governance structure, please see the Corporate
Governance section of our website.
Effective corporate governance,
founded on integrity, successfully
executes Exelon’s business
strategy and sustainability goals.
Exelon Sustainability Report 2022 123Investor
Engagement
Exelon engages with its investors regularly and
provides information through multiple channels.
In addition to quarterly earnings conference calls
and press releases, Exelon’s Investor Relations staff
regularly engages with investment professionals
on Exelon’s financial and operational performance.
This includes facilitating access to members of
Exelon’s leadership at investor conferences and in
other forums, as well as coordinating access to other
subject matter experts within the compa
Keyword: governance
to discuss Exelon’s governance, compensation and
sustainability practices. From time to time, these
discussions include one of Exelon’s independent
directors. In 2022, we contacted the holders of nearly
50 percent of our shares outstanding with offers to
engage. Portfolio managers and professionals that
accepted included a significant cross-section of our
shareholder base, representing approximately 36
percent of Exelon’s outstanding shares. The feedback
received from shareholders and other stakeholder
groups is shared with each Board Committee and the
Board, as appropriate, on a regular basis throughout
the year.
Exelon Sustainability Report 2022 124Sustainability Sustainability Governance at Exelon
Governance
Board of Directors
y Oversees all ESG issues not specifical
Keyword: governance
impacts. We have designated leadership and Audit and Risk Corporate Governance
Compensation Committee
dedicated team members who ensure we are moving Committee Committee
in the right direction. Led by our Chief Strategy and
Sustainability Officer, our sustainability team resides y Reviews SEC y Oversee the Company’s overall y Oversees sustainability
in our corporate strategy and innovation function. disclosures related to compensation philosophy and strategy. and climate change
human capital The Committee shall seek to appropriately strategies and efforts to
management, climate align its philosophy and strategy with protect and improve
In 2022, Exelon created an executive-level and environmental risk Exelon’s strategic and operating objectives the environment
Sustainability Council with leaders from across y Oversees
Keyword: governance
summarized in the Sustainability Governance at
Exelon chart.
Exelon Sustainability Report 2022 125In 2023, the Board Compensation Committee Example of Key Sustainability Councils and Committees
approved an enhanced Annual Incentive Plan
(AIP) for executive compensation that adds a
new Environmental, Social and Governance (ESG) Sustainability Council Racial Equity Task Force
modifier under which up to ±10 percent of the
overall AIP payout for each named executive y Leads the development of an integrated y Focuses on six key areas: Culture &
officer will be affected by environmental and social sustainability strategy for Exelon and its utilities Accountability, Customers, Community
Empowerment, Policy Reform, Workforce
measures directly aligned to Exelon’s progress on y Recommends int
Keyword: governance
assessment of the performance achieved. Departments Involved in Exelon’s Sustainability Governance
For more information on these new AIP metrics,
y Office of the CEO y Federal and State Government & Regulatory Affairs
as well as other updates to Exelon’s executive
y Office of the COO y Finance
compensation plans, please view Exelon’s 2023
y Business Services Company y Human Resources
Proxy Statement.
y Compliance, Audit and Risk y Legal
y Corporate Affairs and Communications y Utility Operations (BGE, ComEd, PECO, PHI)
y Corporate Strategy and Sustainability
Exelon Sustainability Report 2022 126Enterprise Risk Management
Managing business risks of all types, from indicators with our risk appetite and industry-leading
operational, financial and regulatory risks to global practices. A summary of Exelon’s top enterprise
risks like climate
Keyword: governance
the Three Lines Model of governance developed by Successful risk management requires participation
the Institute of Internal Auditors and is designed to from teams across our businesses. Each operating
anticipate strategic and emerging risks, integrate company has a Risk Management Committee
risk into business planning, minimize unexpected tasked with identifying and evaluating the most
performance variances and support growth significant risks of the business and the actions
initiatives within Exelon’s risk threshold. needed to manage and mitigate those risks. The
senior executives of the business unit discuss risks
The Enterprise Risk Management team works with the Audit and Risk Committee of the Exelon
collaboratively with business teams to help them Board of Directors.
i
Keyword: governance
governance and oversight of Exelon’s compliance and new employees are required to complete Code of of interest certifications.
with its regulatory obligations and is the primary Business Conduct training when they join Exelon.
resource for ethics advice and interpretation of the
Code of Business Conduct and Supplier Code of
Conduct. Our Compliance & Ethics Office conducts
an annual risk assessment to identify compliance
risks across the organization and assess controls for
those risks. It works with business teams to ensure
the appropriate design, implementation and testing
of controls concerning compliance obligations.
Exelon maintains a detailed Code of Business Conduct,
which is applicable to all employees, officers and
directors across the enterp
Keyword: governance
In addition, in 2020 Exelon created the new role are guided by our Corporate Governance Principles,
are not necessary to the production or functionality
of Executive Vice President (EVP) for Compliance our policies for interactions with federal, state and
of any product that we manufacture or that we
and Audit to oversee both the Compliance & local officials, our corporate and political contribution
contract for manufacture. As a result, we have
Ethics and internal audit programs. In 2022, guidelines. These policies and guidelines, as well as
concluded that Exelon does not have any reporting
Exelon added Enterprise Risk Management to that our semi-annual political contribution reports, can be
requirements under Section 1502.
reporting structure. This role reports to Exelon’s found on Exelon’s Corporate Governance webpage. As
Keyword: governance
Corporate Governance
AppendixSustainability/ESG Scores
Exelon participates in several voluntary reporting initiatives and is rated by a number of third parties that provide investors with information on Exelon’s ESG performance. In
most cases, Exelon scores in the top quartile or better among our peers. For more information on Exelon’s ESG profile and performance from an investor perspective, please
see our Investor Relations ESG resources webpage.
Rater Exelon Score[1] Scale Comment
y Environment: 89.70
Bloomberg y Social: 29.00 Score: 0–100 Higher score is better
y Governance: 67.70
y Environment: 2
Disclosure scores: scale 1–10
ISS ESG Quality Score y Social: 5 Score: 0–10
Lower score is better
y Governance: 5
CDP Climate A- Letter Grade: A to F Leadership
Keyword: governance
Governance
GRI 2 2-9 Governance Structure and composition Corporate Governance
GRI 2 2-10 Nomination and selection of the highest governance body Proxy Statement, page 17
GRI 2 2-11 Chair of the highest governance body Sustainability Governance
2-12 Role of the highest governance body in overseeing the management
GRI 2 Sustainability Governance, Enterprise Risk Management
of impacts
GRI 2 2-13 Delegation of responsibility for managing impacts Sustainability Governance
GRI 2 2-14 Role of the highest governance body in sustainability reporting 2022 Corporate Sustainability Report Approach
Exelon Code of Conduct, pages 28–33
GGRRII 22 2-15 Conflicts of interest
Exelon Corporate Governance Principles
GRI 2 2-16 Communication of critical concerns Complian
Keyword: governance
GRI 2 2-17 Collective knowledge of the highest governance body Sustainability Governance
Sustainability Governance
GRI 2 2-18 Evaluation of the performance of the highest governance body
Proxy Statement, pages 34–35
GRI 2 2-19 Remuneration policies Proxy Statement, pages 43–54
GRI 2 2-20 Process to determine remuneration Proxy Statement, pages 43–74
GRI 2 2-21 Annual total compensation ratio Proxy Statement, page 75
Strategy, Policies and Practices
GRI 2 2-22 Statement on sustainable development strategy CEO Message
GRI 2 2-23 Policy commitments Compliance and Ethics, ESG Resources webpage
GRI 2 2-24 Embedding policy commitments Compliance and Ethics, ESG Resources webpage
GRI 2 2-25 Processes to remediate negative impacts Compliance and Ethics
GRI 2 2-26 Mechanisms for seeking advice and raising concerns Compliance and Ethics
Keyword: governance
405-1 Diversity of governance bodies and employees Accelerating Our Commitment to Diversity, Equity and Inclusion
Equal Opportunity 2016
3-3 Management Approach of Freedom of Association and
GRI 3: Material Topics 2021 Progressive Workforce Policies
Collective Bargaining
GRI 407: Freedom of
407-1 Operations and suppliers in which the right to freedom of Exelon’s Human Rights Policy establishes expectations for Exelon and its
Association and
association and collective bargaining may be at risk suppliers with regard to freedom of association and collective bargaining.
Collective Bargaining
Corporate Governance
GRI 3: Material Topics 2021 3-3 Management of Corporate Governance Compliance and Ethics, Code of Business Conduct, Supplier Code of Conduct
GRI 205: Anti-Corrupti
Keyword: governance
Corporate Governance—Enterprise Risk Management Overview,
Number of incidents of non-compliance with physical and/or
Grid Resilience IF-EU-550a.1 Safely Powering Reliability and Resilience—Physical Security,
cybersecurity standards or regulations
Cybersecurity and Business Continuity
Grid Resilience
(1) System Average Interruption Duration Index (SAIDI), (2) System
Average Interruption Frequency Index (SAIFI), and (3) Customer Exelon Performance Data
Grid Resilience IF-EU-550a.2
Average Interruption Duration Index (CAIDI), inclusive of major Reliability Performance and Investments
event days
Exelon Sustainability Report 2022 146Topic Accounting Metric Code Location/Direct Answer
Gas Utilities & Distributors Standard
BGE
y Gas Tariff Link: Gas Service Rates & T
Keyword: governance
Governance
(a) Describe the board’s oversight of climate-related risks and opportunities. Governance: Oversight of Climate-Related Risks and Opportunities CDP C1.1
(b) Describe management’s role in assessing and managing climate-related
Governance: Oversight of Climate-Related Risks and Opportunities CDP C1.2, 1.3
risks and opportunities.
Strategy
(a) Describe the climate-related risks and opportunities the organization Risk Management: Identifying, Assessing and Managing
CDP C2.1, C2.2, C2.3
has identified over the short, medium, and long term. Climate-Related Risks
Risk Management: Identifying, Assessing and Managing
(b) Describe the impact of climate-related risks and opportunities on the Climate-Related Risks CDP C2.3, 2.4
organization’s business
Keyword: bribe
practices, corruption and bribery, among 
several other areas. We also developed a 
new ethics toolkit specifically for managers, 
increased management's visibility into 
training completion rates, and we hosted a 
company-wide fireside chat on ethics and 
compliance with our General Counsel.
↗ 
Please visit the Governance section of the 
appendix to review relevant governance 
data, policies, and principles.
„
Maintaining the highest 
standards of corporate 
governance is one of 
our company’s top 
priorities. Stakeholders 
rightly believe we should 
always act ethically and 
responsibly, and we work 
tirelessly to meet their 
expectations and preserve 
their trust in us.
Sarah Burt
Senior Legal Counsel
Corporate Use of Public AI Tools Policy
Insider Trading and Tipping P
Keyword: corruption
our Code of Conduct, Anti-Corruption, 
and Insider Trading and Tipping policies 
that presented critical information to our 
employees in a more user-friendly and 
accessible way. They covered topics 
including business ethics, anti-competitive 
practices, corruption and bribery, among 
several other areas. We also developed a 
new ethics toolkit specifically for managers, 
increased management's visibility into 
training completion rates, and we hosted a 
company-wide fireside chat on ethics and 
compliance with our General Counsel.
↗ 
Please visit the Governance section of the 
appendix to review relevant governance 
data, policies, and principles.
„
Maintaining the highest 
standards of corporate 
governance is one of 
our company’s top 
priorities. Stakeholders 
rightly b
Keyword: corruption
Anti-Corruption Policy
Anti-Fraud Standards
Code of Conduct
Corporate Records Retention Policy
Delegation of Authority Policy
Disclosure Policy
Human Rights Statement 
Insider Trading and Tipping Policy
Modern Slavery Statement
Sanctions Compliance Policy 
Vendor Code of Conduct
AI Ethics Principles
Governance
Size of board
9
Number of independent directors
8
Percentage of directors who are independent
89%
Fully independent committees
Yes
Independent lead director
Yes
Average age of directors
62
Average director tenure
6.7
Mandatory retirement age
No
Number of female directors
3
Number of ethnically diverse directors
1
Number of board and committee meetings in 2023
31
Number of directors attending less than 80% of meetings in 2023
0
Periodic executive ses
Keyword: corruption
Anti-Corruption Policy
Yes
Anti-Fraud Standards
Yes
Corporate Records Retention Policy
Yes
Delegation of Authority Policy
Yes
Disclosure Policy
Yes
Insider Trading and Tipping Policy
Yes
Sanctions Compliance Policy
Yes
36
2024 Dayforce ESG Report
Our People
Tech for Good
Our Goals
Governance and Trust
Environment
Our Communities
Appendix and Key Data
☰
Trust
Privacy Strategy
We recognize that maintaining stakeholder trust is essential to our license to operate and our 
success as a business. That is why we maintain a robust global privacy management program that 
allows us to meet these high expectations. In addition to a commitment of continuous improvement, 
our areas of focus include:
↗ Global Privacy Statement
↗ Cookie Statement
↗ Biometric Statement
Keyword: corruption
Anti-Corruption
Creating a Respectful Workplace (including anti-discrimination, harassment, and workplace violence topics)
Diversity, Equity, and Inclusion
Information Security and Cybersecurity
Privacy Essentials
Insider Trading and Tipping
Leadership Development and Professional Development Courses Offered to Employees
Activate: Required 2-day program for people leaders including performance management, effective 
communications and coaching, and promoting DEI.
Cultivate: Required 2-day program for leaders of leaders including leading high-performance teams, 
ethical leadership, and talent and personal development.
Catalog of available professional development courses are available on-demand to all employees.
Team development workshops offered at reques
Keyword: tax
also matured the resilience of critical money movement and tax and payment business processes.
As part of this work, the team developed new or updated existing:
The work of our ERM and Business Continuity and Resilience teams is overseen by our Chief Risk 
Officer Todd Simmons in coordination with our senior leadership team. This brings together a 
cross-disciplinary group of leaders to establish management accountabilities and direct initiatives.
24
22
25
↗ 
Please visit the Business Continuity and Resilience section 
of the appendix to review our overall program strategy.
20
2024 Dayforce ESG Report
Our People
Appendix and Key Data
Our Goals
Governance and Trust
Environment
Our Communities
Tech for Good
☰
Tech for Good
Dayforce Wallet
High inflation, interest rates, and energy 
costs have prevented
Keyword: tax
Money Movement/Tax and Payment
Product and Technology Innovation
Third-Party and Partner Reliance
Financial
Legal/Compliance
Operational
Strategic
Identify and assess risk across the 
organization, prioritizing mitigation 
efforts to address mission-critical 
enterprise risks.
Assess current controls and capabilities 
to protect and increase stakeholder 
value, promoting continuous, 
sustainable improvement across the 
organization globally.
Ensure decisions are made with 
sufficient awareness and transparency 
around risk and opportunity.
Ongoing cross-functional evaluation 
and prioritization of mission-critical 
risks at the enterprise level to 
ensure accuracy of Dayforce’s global 
risk profile.
Quarterly discussions around 
emerging and significant risk
Keyword: tax
EBITDA is net income before interest, taxes, depreciation, and amortization, and Adjusted 
EBITDA is EBITDA, as adjusted to exclude share-based compensation expense and related 
employer taxes, and certain other items. Adjusted EBITDA margin is determined by calculating 
the percentage that Adjusted EBITDA is of total revenue.
The following table presents a reconciliation of the GAAP results to the non-GAAP financial 
measures EBITDA, adjusted EBITDA, and Adjusted EBITDA margin: 
We define these non-GAAP financial 
measures as follows:
Cloud ARR is calculated by starting with 
recurring revenue at year end, excluding 
revenue from Ascender, subtracting the 
once-a-year charges, annualizing the 
revenue for customers live for less than a full 
year to reflect the revenue that would h
Keyword: tax
Income tax 
expense
Depreciation 
and 
amortization
EBITDA
Share-based 
compensation
Other13
Adjusted 
EBITDA
Net profit 
margin
Adjusted 
EBITDA margin
(Unaudited, Dollars in millions)
$54.8 
$36.1 
$41.2
$132.5
$264.6
$137.1
$8.5
$410.2
3.6%
27.1%
 13. The Other column includes $4.7 million of restructuring consulting fees, $4.3 million related to the impact of the fair value adjustment for contingent consideration related to the 
2021 acquisition of certain assets and liabilities of DataFuzion HCM, Inc., $0.1 million related to the net impact of certain leased facilities, and $0.6 million of foreign exchange gain.
49
2024 Dayforce ESG Report
Our People
Tech for Good
Our Goals
Governance and Trust
Environment
Our Communities
Appendix and Key Data
☰
Keyword: governance
Governance and Trust
15
Tech for Good
20
Environment
23
Our Communities
27
Appendix and Key Data
28
3
2024 Dayforce ESG Report
☰
Our People
Tech for Good
Appendix and Key Data
Our Goals
Governance and Trust
Environment
Our Communities
By nearly every measure, 2023 was a 
tremendously successful year for Dayforce. 
Our industry-leading innovation and strong 
value proposition allowed us to reach several 
major, new milestones. This included $1.5 
billion in annual revenue, nearly 6,400 
customers, and over 6.8 million employees 
live on the Dayforce platform.
These accomplishments required strong 
execution, the ability to drive market 
leadership and differentiation, and delivering 
quantifiable value to our customers. But 
importantly, achievin
Keyword: governance
sustainability strategy: Our People, Governance 
and Trust, Tech for Good, Our Communities, 
and the Environment. As you read through 
it, you’ll see the many ways in which we’re 
working to maintain our commitment to long-
term value creation through acting responsibly 
and operating sustainably.
While we recognize that much more work 
lies ahead of us, we are deeply proud of the 
progress that we’ve made. Positive feedback 
from key stakeholders as well as new 
recognitions from JUST Capital, Newsweek, USA 
TODAY, Forbes, CDP, and others are signs that 
we’re getting some of the important things right. 
We’re grateful for your interest in learning 
more about the latest chapter of our 
sustainability journey. 
David Ossip
Chair and CEO
3
2024 Dayforce ESG Report
A Message from our CEO
Keyword: governance
Governance and Trust
Environment
Our Communities
Our Company
Our Way
Our values at Dayforce are core to our culture and the essence of our beliefs. They 
are the basis for success, the guiding standards for how we run both as teams and as a 
global organization – and they include always acting ethically. They provide a road map 
for delivering our brand promise. We call these values “Our Way.”
Business Performance
Dayforce innovations delivered simplicity at scale to help customers create better experiences, 
strengthen compliance, and embrace an open and connected approach to work. In 2023, we 
delivered strong revenue growth rates, a record level of operating cash flow, and improvements 
across all key measures of profitability.
Financial and Custo
Keyword: governance
Governance and Trust
Environment
Our Communities
2023 Performance Highlights
Our Pillars
Our People
Employee Wellness and Engagement
Diversity, Equity, and Inclusion (DEI)
Learning and Development
Governance and Trust
Ethics and Transparency
Data Security and Privacy
Business Continuity and Resilience
Tech for Good
Responsible AI
A New World of Work
Environment
Climate Change
Our Communities
Giving and Volunteering
Governance and Trust
Our People
Tech for Good
Our Communities
Environment
50 employee Net 
Promoter Score (eNPS)
Developed our 
Artificial Intelligence 
(AI) Governance 
Framework
Surpassed $2 billion in earned wages 
delivered through Dayforce Wallet
Launched our 
Responsible 
Sourcing 
Initiative (RSI)
Achieved 50% of employees giving an
Keyword: governance
Governance and Trust
Environment
Our Communities
Our Goals
☰
Increase the percentage of People Analytics customers 
using Dayforce DEI Dashboards to 15% by 2026
13%
The Dayforce Talent team refined this goal to focus on access to DEI Dashboards. This 
is informed by prioritization at Dayforce of meeting the high and growing demand for 
DEI reporting and analytics capabilities from customers. They decided that the best 
way to enable our customers was to include DEI Dashboards in our People Analytics 
package, which allows immediate access to valuable DEI data. Given this, the 
customer use metric for this goal area is now defined as the percentage of customers 
with People Analytics that access DEI Dashboards at least once annually. The team 
plans t
Keyword: governance
Governance and Trust
Environment
Our Communities
Our Goals
☰
Achieve gender parity (50/50) in senior management 
roles globally by 2028²
35.9%
Increase underrepresented minority (URM) representation 
in management roles in the U.S. by 50% by 2028³
10.4% URM
Although we did not see progress in pursuit of our workforce diversity goals, the DEI team 
implemented a number of new initiatives to set us up for success in 2024. This included 
doubling the number of annual cohorts for the Achieving Corporate Equity (ACE) program, 
launching a required inclusive hiring training for all people managers in the U.S., and 
expanding the executive mentorship program and leadership lecture series to further 
empower diverse talent. They are also introducing a new le
Keyword: governance
Governance and Trust
2023
2023
2. Senior management roles are defined as vice president-level roles and above.
3. Management roles are defined as manager-level roles and above. At Dayforce, URM (underrepresented minorities) are defined as Black and African American, Hispanic and Latino, American Indian and Alaska Native, and Native Hawaiian and Pacific Islander. 
4. A material breach is defined as a security event in which an unauthorized third party obtains access to personal data and that has a material impact on Dayforce's business.
8
2024 Dayforce ESG Report
Tech for Good
Appendix and Key Data
Our Goals
Governance and Trust
Environment
Our Communities
Our People
☰
Our People
Global
9,084
North America
4,563
Europe, Middle East, and Africa (EMEA)
Keyword: governance
Governance and Trust
Environment
Our Communities
Our People
☰
Connection and Engagement
Encouraging a shared sense of community and connection among our 
colleagues is integral to our success as an organization and what we 
stand for. In 2023, our Employee Experience team took new actions 
focused on designing and delivering innovative programs that meet the 
needs of our people and support our business objectives.
This included:
The results of these efforts are reflected in the very positive feedback 
we’re received from our employees. This includes a phenomenal 
eNPS score of 50 — which exceeds our annual target of 40 — as well 
as notable improvements across nearly every index and category 
compared to results in 2022.
9
2024 Dayforce ESG Report
L
Keyword: governance
Governance and Trust
Environment
Our Communities
Our People
☰
Learning and Development
Organizations have a responsibility to 
help their people grow and develop as 
professionals. At Dayforce, we aim to 
create a culture of continuous learning and 
empowerment in which our people are 
provided many opportunities to enhance their 
skills. Last year, we launched more than 150 
programs to help our employees succeed both 
in their current roles as well as others in the 
future. This included delivering more than 300 
hours of professional skills training, providing 
more than 5,000 hours of leadership 
development, and facilitating more than 700 
hours of team effectiveness workshops. In 
total, Dayforce colleagues from around the 
globe participated i
Keyword: governance
Governance and Trust
Environment
Our Communities
Our People
☰
Cleo provides a digital support system to working families who are navigating 
a variety of topics, including birth plan development, return to work 
transitions, finding childcare, eldercare and financial planning for college.
RethinkCare gives parents access to tools and resources to help them 
better understand, teach and communicate with children who have 
learning and developmental disabilities.
Vori Health grants access to specialized doctors and therapists to address 
musculoskeletal pain and ailments. 
Visana Health is a comprehensive virtual women's health clinic that 
provides medical care and integrated whole person support for a wide 
range of women's health conditions.
Oshi He
Keyword: governance
Governance and Trust
Environment
Our Communities
Our People
☰
Diversity, Equity, and Inclusion (DEI)
Programs
One of Dayforce’s Our Way values is Equity, and our DEI team worked tirelessly over the past 
year to turn that intention into reality. They strengthened several of our existing programs to better 
foster a sense of inclusion, belonging, and empowerment within our workforce.
This included:
Increasing the number of annual cohorts in our award-winning Achieving 
Corporate Equity (ACE) program. The initiative helps high-potential talent from 
underrepresented and underserved communities rise within our organization, with 
two-thirds of participants receiving promotions last year.
Expanding our executive mentorship program and leadership lecture
Keyword: governance
Governance and Trust
Environment
Our Communities
Our People
☰
Workforce Diversity
Building a diverse and inclusive workforce is both the right 
thing to do and the smart thing to do. That’s why we have 
two ambitious goals to increase the number of women 
and underrepresented minorities⁵ in management roles 
within our company. Although we have not yet realized 
the progress we hoped for, we took new steps last year 
that we believe will help us meaningfully move the needle 
in the coming months and years.
This included:
Asian employees and allies
Ignite
Employees with disabilities, caregivers, and allies
Impact
Native and Indigenous employees and allies
Illuminate
LGBTQ+ employees and allies
Women employees and allies
Empower
Latin and Hispanic empl
Keyword: governance
Governance and Trust
Environment
Our Communities
Our People
☰
Talent
In this era of profound workplace 
transformation, the ability to effectively 
attract and retain top talent is perhaps more 
important to organizational success — and 
more challenging — than ever before. To 
meet this moment, our Talent Acquisition 
team matured our Early Talent Program 
with a nearly 50% annual increase in interns 
hired globally. In addition, they partnered 
with York University’s Lassonde School 
of Engineering to provide students in its 
Work Integrated Learning (WIL) program an 
opportunity for real-world work experience 
at Dayforce while pursuing their studies. 
„
I joined Dayforce soon 
after I arrived from 
Cameroon in search 
of better professional 
oppo