exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
405-1 Diversity and Equal Opportunity Diversity of governance bodies and employees Empowering People: Diversity Data and Reporting
6611Our ESG Empowering Preserving Serving as a
Governance Appendix / 2024 ESG Report
Journey People Our World Trusted Partner
Forward Looking About This
GRI Index SASB Index TCFD Index SDG Index
Statements Report
Child Labor 2016
Operations and suppliers at significant risk for
408-1 Child Labor Supplier Code of Conduct
incidents of child labor
Forced or Compulsory Labor 2016
Operations and suppliers at significant risk for
409-1 Forced or Compulsory Labor Supplier Code of Conduct
incidents of forced or compulsory labor
Local Communities 2016
Operations with local community engagement, impact
413-1 Local Communities Empowering People: Community Engagement
assessments, and
Keyword: governance
Governance Appendix / 2024 ESG Report
Journey People Our World Trusted Partner
Forward Looking About This
GRI Index SASB Index TCFD Index SDG Index
Statements Report
SASB Index
The Sustainability Accounting Standards Board (SASB, now part of the IFRS Foundation) has developed standards for businesses to identify, manage,
and report on sustainability topics to meet investor needs. This table references the Consumer Goods sector Multiline and Specialty Retailers &
Distributors industry standards, with links to where the relevant information can be found in our ESG report or in other public documents.
Topic SASB Accounting Metric Category Code Fastenal 2023 Disclosure
SASB Multiline and Specialty Retailers & Distributors Standard
Energy Total energy con
Keyword: governance
Description of approach to identifying and addressing data security risks Discussion and analysis CG-MR-230a.1 Governance: Cybersecurity & Data Privacy
Fastenal has had no reported data breaches
Number of data breaches Quantitative CG-MR-230a.2
identified during the reporting period
Data Security Fastenal has had no reported data breaches
Percentage involving personally identifiable info Quantitative CG-MR-230a.2
identified during the reporting period
Fastenal has had no reported data breaches
Number of customers affected Quantitative CG-MR-230a.2
identified during the reporting period
Product Revenue from products third-party certified to environmental and/or social Quantitative CG-MR-410a.1 $87,709,397.01
Sourcing, sustainability standards
Packaging, and Preserving Our World: Reducing, Reusing and
Marketing Discussion of strategies to reduce the environment
Keyword: governance
Governance Appendix / 2024 ESG Report
Journey People Our World Trusted Partner
Forward Looking About This
GRI Index SASB Index TCFD Index SDG Index
Statements Report
TCFD Index
The Task Force on Climate-related Financial Disclosures (TCFD), which disbanded in November 2023 (with monitoring being taken over by the IFRS
Foundation), has developed voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to stakeholders. A
summary of our response to the TCFD-recommended disclosures is below, with references to where this information can be found in either this report or in
other public documents.
Disclosure Answer Reference
Fastenal's board of directors is composed of a diverse group of individuals wi
Keyword: governance
Governance: Board of Directors
Governance management, and sustainability. The topic of ESG, including climate-related issues, is on the meeting agenda a minimum of twice
2024 Proxy pg 5-12
per year. The Nominating and Corporate Governance Committee Chair serves as a liaison to the ESG team and is responsible for
overseeing the Company’s ESG initiatives, including any ESG policies, practices and disclosures. Management involved in climate-
related risks and opportunities includes the Chief Financial Officer, Internal Audit Director, Corporate EHS and Sustainability Director,
Director of Supply Chain Compliance, and Vice President for Contract Development and Support.
Risks and opportunities are detailed in the 2023 CDP Report and 2023 Annual Report. E
Keyword: governance
Governance Appendix / 2024 ESG Report
Journey People Our World Trusted Partner
Forward Looking About This
GRI Index SASB Index TCFD Index SDG Index
Statements Report
SDG Index
We recognize the importance of the United Nations 2030 Agenda for Sustainable Development. The UN Sustainable Development Goals (SDGs)
call on governments, businesses, and civil society organizations to address the most urgent problems facing our world today. The goals urge all
sectors of society to drive greater participation and leadership, and to invest more resources into solutions that reduce inequality and tackle the
escalating climate emergency.
Fastenal supports the 17 United Nations SDGs; however, we believe we contribute the greatest impact in support of the nine SDGs
Keyword: governance
road traffic accidents Governance: Responsible Sourcing
Preserving Our World: Transportation
Target 3.9: By 2030, substantially reduce the number of deaths and illnesses Preserving Our World: Reducing, Reusing, and Recycling
from hazardous chemicals and air, water and soil pollution and contamination
Good Health and Well-Being
Ensure healthy lives and promote
well-being for all at all ages
Target 7.2: By 2030, increase substantially the share of renewable energy in
the global energy mix Preserving Our World: Transportation
Target 7.3: By 2030, double the global rate of improvement in energy Preserving Our World: Facilities and Operations
efficiency
Affordable and Clean Energy
Ensure access to affordable, reliable,
sustainable and modern energy for all
Target 8.4: Improve p
Keyword: governance
Governance Appendix / 2024 ESG Report
Journey People Our World Trusted Partner
Forward Looking About This
GRI Index SASB Index TCFD Index SDG Index
Statements Report
UN SDG SDG Target Fastenal Indicators
Target 9.1: Develop quality, reliable, sustainable and resilient infrastructure,
including regional and transborder infrastructure, to support economic
development and human well-being, with a focus on affordable and equitable
access for all
Target 9.2: Promote inclusive and sustainable industrialization and, by 2030,
significantly raise industry’s share of employment and gross domestic product,
in line with national circumstances, and double its share in least developed
countries Serving as a Trusted Partner: Our Sustainability Solutions
Target 9.4:
Keyword: governance
Governance Appendix / 2024 ESG Report
Journey People Our World Trusted Partner
Forward Looking About This
GRI Index SASB Index TCFD Index SDG Index
Statements Report
UN SDG SDG Target Fastenal Indicators
Target 12.5: By 2030, substantially reduce waste generation through prevention,
reduction, recycling and reuse Preserving Our World: Reducing, Reusing, & Recycling
Target 12.6: Encourage companies, especially large and transnational companies, Serving as a Trusted Partner: Our Sustainability Solutions
to adopt sustainable practices and to integrate sustainability information into their Serving as a Trusted Partner: Green Products Program
Responsible Consumption and Production reporting cycle
Ensure sustainable consumption
and production patterns
Targ
Keyword: governance
Governance: Responsible Sourcing
Target 16.3: Promote the rule of law at the national and international levels and
Empowering People: Human Rights and DEI
ensure equal access to justice for all
Supplier Code of Conduct
Peace, Justice and Strong Institutions Target 16.5: Substantially reduce corruption and bribery in all their forms
Promote peaceful and inclusive societies for
sustainable development, provide access to justice
for all and build effective, accountable and inclusive
institutions at all levels
6677@FastenalCompany @Fastenal_Company @FastenalCompany @Fastenal @Fastenal
facebook.com/fastenalcompany instagram.com/fastenal_company twitter.com/fastenalcompany youtube.com/fastenalcompany linkedin.com/company/fastenal
WF_825900 | 3.24 JF
Keyword: bribe
countries’ anti-bribery laws. Several senior executives sit on the 3M Business assessment of internal and external factors that help
Conduct Committee, which is chaired by 3M’s chief prioritize topics and timing of deployment. Online
The program consists of: ethics & compliance officer, senior vice president. This courses are offered in 22 languages. Training modules
internal committee oversees 3M’s efforts to assure cover all areas of our compliance program. Recent
• A core set of business conduct principles
that we have an effective world-class compliance examples include Preventing Bribery & Corruption and
• Awareness campaigns through education, training, program — one that’s agile and anticipates changes Confidential Information & Computer Security. Each
and
Keyword: bribe
business conduct concern in good faith or cooperates all applicable anti-bribery laws, including the U.S.
the Ethics & Compliance Department is charged
in a company investigation. To monitor this risk, a Foreign Corrupt Practices Act, the U.K. Bribery Act,
with conducting a risk review and implementing any
compliance investigator contacts the reporter several Brazil’s Clean Company Act, and local laws where
necessary remediation activities upon the closing of
times after an investigation closes to discuss if the 3M operates. It applies to 3M employees as well as to
every acquisition.
person has experienced any form of retaliation. our business partners. In addition, 3M’s Anti-Bribery
This is done either by phone or via email for Principle and anti-bribery policies and procedures have
identified reporters. been communic
Keyword: bribe
Bribery and Corruption training is required of most
For anonymous reporters who use 3MEthics.com, nonproduction employees, specifically employees in
follow-up is handled through 3MEthics.com to higher-risk roles, including those in legal, audit, sales,
maintain anonymity. If the reporter expresses concern marketing, export, and global trading.
that they’re a target of retaliation, the investigations
team will start a separate investigation or take other 3M’s commitment to anti-corruption is also reflected
action to assure the reporter is protected. 3M takes a in our management of third-party intermediaries and
strong position against retaliation, which is reflected in other business partners. 3M conducts due diligence
our Non-Retaliation Policy an
Keyword: bribe
periodic compliance and anti-bribery evaluations
our organization. It has been the foundation Again in 2022, all over the world, we held Ethics &
of various 3M businesses, business models, and
of the company for more than a century.” Compliance Week events to further build employee
locations each year. An evaluation includes a review
engagement around the Code of Conduct and
of transactions and supporting documentation of
— Michael Duran, senior vice president and doing business the right way. These events engaged
transfers of value to third parties, compliance records,
chief ethics & compliance officer employees in business divisions and corporate
and in-depth interviews with a cross-section of
functions across all levels of seniority in discussions
employees of the entity b
Keyword: bribe
our commitment to combat global bribery.Who we are How we work What we create Site spotlights About report Corporate Code of Conduct | 3M 2023 Global Impact Report 48
Communications to support Data analysis and metrics
our employees, leaders, The Ethics & Compliance Department continues to
make strides in data science. We created enhanced
and middle management
metrics dashboards for analyzing emerging issues
We engage with senior leadership by providing across different employee populations (e.g., seniority,
presentations and tools to talk to employees about tenure, location, etc.). New dashboards were created
ethics and compliance on a consistent basis. In 2022, for third-party due diligence and business courtesies
we took a new approach to reach leadership and (e.g., gifts, en
Keyword: bribe
Act and other anti-bribery laws; international import and export requirements and trade sanctions compliance; regulations of the
U.S. Food and Drug Administration (FDA) and similar foreign agencies; U.S. federal healthcare program-related laws and regulations
including the False Claims Act, anti-kickback laws, and the Sunshine Act; and other matters. The Company is also subject to
compliance risks related to legal or regulatory requirements, contract requirements, policies and practices, or other matters that
require or encourage the Company and its suppliers, vendors, or channel parties, to conduct business in a certain way.
For a more detailed review of this topic, see the discussion in Item 8, Note 16 “Commitments and Contingencies” in 3M’s Annual
Report on Form
Keyword: bribe
of bribery and corruption and prevent conflicts of
cross-functional executive committee consisting of
interest. The SRC outlines supplier expectations
leaders from 3M Enterprise Operations, including
relating to grievance mechanisms. Anyone who has
Supply Chain, Strategy, and Strategic Sourcing, as well
a concern involving 3M can use 3MEthics.com as
as from Human Resources, Ethics & Compliance, Legal
an alternative way to report it — anonymously, if
Affairs, Corporate Audit, EHS, and Sustainability.
allowable by local laws.
• Management systems – We expect our suppliers to We also have a robust governance framework that
operationalize their alignment with the SRC, as well guides our sustainability and EHS activities, with
as all legal requirements, a
Keyword: corruption
that we have an effective world-class compliance examples include Preventing Bribery & Corruption and
• Awareness campaigns through education, training, program — one that’s agile and anticipates changes Confidential Information & Computer Security. Each
and communication in both internal business strategy and the external course starts with a series of questions that identify
• Periodic evaluations, audits, risk assessment, and landscape. Similar business conduct committees exist the employee’s knowledge level. The employee is then
procedures to measure and assess the compliance at country, regional, and area levels to prioritize and presented with scenario-based questions tailored to
program’s effectiveness operationalize compliance activities. this knowledge level. To successfully complete the
course, the employee must demonstrate p
Keyword: corruption
anti-corruption
in 2020, 2021, and 2022 using 3MEthics.com. We use we have an active monitoring program for third-party
this data to prioritize resources and relationships, including risk-based negative media
As a participant in the United Nations Global Compact
focus strategies. reviews and proactive audits of third parties. 3M may
(UNGC), 3M is committed to supporting all principles,
end a relationship with a business partner if the risk
including Principle 10 on Anti-Corruption. Our
The Ethics & Compliance Department maintains the presented is determined to be too high and cannot be
commitment and involvement with the UNGC and our
corporate investigation case management system and appropriately mitigated.
community of peer companies provide us with the
Keyword: corruption
related to work against corruption in all its forms.
view of the frequency and type of concerns reported collaborates with 3M Legal Affairs on due diligence
Additionally, the compliance professionals on our
globally and reflects the healthy “Speak Up” culture processes related to potential equity investments
team regularly participate, present, and are members
that exists within 3M. and mergers and acquisitions. These processes
of organizations and associations working to improve
help identify risks in the target company before an
3M’s non-retaliation process compliance controls and reduce legal risk. acquisition or investment is initiated and accelerate our
efforts to integrate an acquired company’s employees
3M prohibits retaliation against anyone who raises a 3M’s Code o
Keyword: corruption
Bribery and Corruption training is required of most
For anonymous reporters who use 3MEthics.com, nonproduction employees, specifically employees in
follow-up is handled through 3MEthics.com to higher-risk roles, including those in legal, audit, sales,
maintain anonymity. If the reporter expresses concern marketing, export, and global trading.
that they’re a target of retaliation, the investigations
team will start a separate investigation or take other 3M’s commitment to anti-corruption is also reflected
action to assure the reporter is protected. 3M takes a in our management of third-party intermediaries and
strong position against retaliation, which is reflected in other business partners. 3M conducts due diligence
our Non-Retaliation Policy and within 3M’s E
Keyword: corruption
• United Nations Convention Against Corruption
Further, the 3M Code of Conduct and its underlying
Respect for principles require compliance with all applicable laws
human rights and respect for internationally recognized human
is deeply rights in all global operations.
ingrained in
our cultureWho we are How we work What we create Site spotlights About report Human rights | 3M 2023 Global Impact Report 51
Human rights in To support this, we offer a comprehensive suite of Modern slavery
employee benefits, including options for employees to
the workplace Modern slavery encompasses several human rights
work remotely and flexibly. Learn more about benefits
issues including forced labor, bonded labor, child labor,
and our Work Your Way model in the Employee
3M’s human resources principles, w
Keyword: corruption
of bribery and corruption and prevent conflicts of
cross-functional executive committee consisting of
interest. The SRC outlines supplier expectations
leaders from 3M Enterprise Operations, including
relating to grievance mechanisms. Anyone who has
Supply Chain, Strategy, and Strategic Sourcing, as well
a concern involving 3M can use 3MEthics.com as
as from Human Resources, Ethics & Compliance, Legal
an alternative way to report it — anonymously, if
Affairs, Corporate Audit, EHS, and Sustainability.
allowable by local laws.
• Management systems – We expect our suppliers to We also have a robust governance framework that
operationalize their alignment with the SRC, as well guides our sustainability and EHS activities, with
as all legal requirements, and to commit to
Keyword: corruption
and anti-corruption. In 2014, we became a United referenced due to the global reach of the standard.
Nations Global Compact (UNGC) participant, thereby For SASB, our diversity of operations would not
committing to align our operations and strategies with be represented by their current industry standard
the UNGC Principles on business and human rights. classifications. Using our 51 Technology Platforms,
our integrated team of scientists and researchers
works with customers to create breakthroughs via
our Consumer, Transportation & Electronics, Safety &
Industrial, and Health Care business groups.Who we are How we work What we create Site spotlights About report GRI index | 3M 2023 Global Impact Report 126
GRI index
Global Reporting Initiative
(GRI) content in
Keyword: corruption
GRI 205 Anti-corruption 2016 - -
3-3 Management of material topics Corporate Code of Conduct 43
205-1 Operations assessed for risks related to corruption Corporate Code of Conduct 43
205-2 Communication and training about anti-corruption policies Corporate Code of Conduct 43
and procedures
Suppliers 94
205-3 Confirmed incidents of corruption and actions taken Corporate Code of Conduct 43
Confidentiality constraints. This information is considered business confidential: see the
Corporate Code of Conduct section for additional information on our mechanism used
to address and resolve corruption issues. Significant legal actions for non-compliance
with laws and regulations would be discussed in our Annual Report on Form 10-K, Item
8 – Note 16: Commitment and Continge
Keyword: corruption
to address and resolve corruption issues. Significant legal actions for non-compliance
with laws and regulations would be discussed in our Annual Report on Form 10-K, Item
8 – Note 16: Commitment and Contingencies.
GRI 207 Tax 2019 - -
3-3 Management of material topics Corporate governance 37
207-1 Approach to tax Corporate governance 37
207-2 Tax governance, control, and risk management Corporate governance 37
207-3 Stakeholder engagement and management of concerns Corporate governance 37
related to tax
207-4 Country-by-country reporting Confidentiality constraints. This information is considered business confidential.
GRI 301 Materials 2016 - -
3-3 Management of material topics Circular materials 74
301-1 Materials used by weight or volume Information unavailable/incompl
Keyword: tax
3M employees worldwide who volunteer to make value returns (increased wages, additional taxes paid,
a difference. Since 1953, 3M and 3M Foundation avoided justice system costs, etc.).
have invested $1.98 billion in cash and product
contributions in communities where 3M operates. As a science-based manufacturing company, we’re
motivated to support a more equitable pathway
3M and 3M Foundation develop and implement to science, manufacturing, and skilled trades jobs.
strategies and partnerships with leading community Education and workforce development are key to
organizations committed to advancing equitable broadening access to these careers for all students,
outcomes in our community. The 3M Foundation Board especially those from underrepresented groups.
of Directors and Corporate Contributions Committee
govern this work and are co
Keyword: tax
pre-tax profit, compared to 2021 Since 2021, we’ve supported over 81,800 nonprofit organizations and
corporate median of 0.62%1 1 million unique STEM and skilled trades schools in the U.S.
skills-based volunteer hours
learning experiences, putting us well
since 2019
on track to deliver on our goal to create $1.3M
$23.9M Our employees shared their skills,
5 million learning experiences by the end
experience, and energy to make a FIRST® Robotics
of the 2025-2026 school year.
difference in our global communities. Our donation of products for
invested in education 3M Manufacturing and Academic robotics kits enhanced student
Partnership program (MAP) $3.98M total experiences.
To build a pipeline of diverse talent in
73% 27% employee contributions and $
Keyword: tax
executive leadership team, and business units, and tax governance 3M legal counsel, 3MEthics.com, their assigned
we’re working across 3M’s Strategic Sustainability human resources manager, 3M’s Corporate Audit
Framework to advance progress toward our At the highest level, responsibility for taxes resides Department, or the Audit Committee of the Board
sustainability goals. Learn more in our 2023 Proxy with 3M’s Global Tax Department based in our of Directors.
Statement, Board’s role in sustainability. headquarters in the United States. The senior vice
president for tax reports to 3M’s executive vice Learn more about reporting concerns about
Public policy engagement president and chief financial and transformation unethical or unlawful behavior in the Corporate Code
officer and is a member of 3
Keyword: tax
As a concerned member of our communities, 3M The Tax Operating Committee, under the leadership
actively participates in public policy and legislative and direction of the senior vice president for tax, 3M’s attitude to tax planning
advocacy, or “lobbying.” We believe that transparency has oversight over the material tax matters of 3M’s
3M engages in tax planning that’s aligned with its
with respect to the consideration, process, and worldwide business and supply chain.
commercial business activities or supply chain needs
oversight of our engagement with lawmakers is
and in compliance with tax rules and regulations.
important to our shareholders, and we continually 3M assures the appropriateness of our accounting
3M may engage in tax planning or other activities
make efforts to give our share
Keyword: tax
holders useful and tax records on an ongoing basis to enable us to
potentially perceived as tax planning. We do not
information about our public policy engagement. meet our compliance obligations. In countries where
engage in artificial tax arrangements that lack
we operate, we document and confirm with the
economic substance, one of the main purposes of
See details in our 2023 Proxy Statement, our respective authorities. Where required, 3M assures
which would be to obtain a tax advantage. We may,
Lobbying and Political Activities Principle, public disclosures are published according to
however, evaluate potential economic options
and our Lobbying and Political Activities the regulations.
resulting from business transactions with consideration
Governance documen
Keyword: tax
Day-to-day management of 3M’s taxes is overseen by of tax efficiency.
3M’s approach to taxation the tax management responsible for the respective
region and area of taxation. Processes relating to
3M is committed to complying with all applicable various taxes are allocated to the relevant process
tax laws, rules, regulations, and reporting and owners responsible for executing tax compliance
disclosure requirements through the implementation controls. Appropriate training is carried out for staff
of standardized, simplified, cost-effective, and who manage or process matters with tax implications.
automated compliance processes. This means paying
the right amount of tax in the right place at the right Transactions between 3M companies are
time and involves disclosing all relevant facts and conducte
Keyword: tax
circumstances to the tax authorities and claiming with appropriate transfer pricing rules. This assures
reliefs, incentives, and exemptions in line with and in 3M’s profits are taxed where economic activities are
the spirit of the applicable tax legislation. In addition, performed. Where there are any areas of uncertainty,
3M’s tax strategy is consistent with the principles set 3M engages its external professional advisors to
forth in 3M’s Code of Conduct. provide specialist advice as and when needed.
Reporting tax concerns
As with all instances of unethical or unlawful behavior,
we encourage our employees to ask questions or
report concerns about tax matters toWho we are How we work What we create Site spotlights About report Corporate governance | 3M 2023 Global
Keyword: tax
Our approach to tax risk follows principles similar
to those that apply to our management of legal,
compliance, and other business risks. Our internal
We regularly post governance news, events,
framework supports compliance with tax laws and
and presentation information on the Events &
regulations to assure we identify, assess, and mitigate
Presentations page of our Investor Relations website.
tax risks, including consideration of both internal and
external stakeholders.
Approach toward engagement
with tax authorities
We strive to have an open, honest, and collaborative
working relationship with tax authorities. 3M assures
that specific tax authorities are kept aware of
significant transactions and changes in the business
and seeks to discuss at an early stag
Keyword: tax
e any tax issues
that arise.
When submitting tax computations and returns to
country tax authorities, 3M discloses all relevant
facts and identifies any transactions or issues that we
consider to have potential for uncertain tax treatment.
We recognize there could be areas of differing legal
interpretations between 3M and tax authorities, and
where appropriate we’ll engage in proactive discussion
to conclude matters as quickly as possible.
Any inadvertent errors in the submission of tax returns
and tax computations are fully disclosed as soon as
reasonably practicable after they have been identified.Who we are How we work What we create Site spotlights About report Enterprise risk | 3M 2023 Global Impact Report 41
Enterprise risk
Our commitment 3M b
Keyword: tax
involving product liability; antitrust; intellectual property; environmental, health, and safety; tax; the U.S. Foreign Corrupt Practices
Act and other anti-bribery laws; international import and export requirements and trade sanctions compliance; regulations of the
U.S. Food and Drug Administration (FDA) and similar foreign agencies; U.S. federal healthcare program-related laws and regulations
including the False Claims Act, anti-kickback laws, and the Sunshine Act; and other matters. The Company is also subject to
compliance risks related to legal or regulatory requirements, contract requirements, policies and practices, or other matters that
require or encourage the Company and its suppliers, vendors, or channel parties, to conduct business in a certain way.
For a more detailed review of this topic, see the discussion in Item 8, Note 16
Keyword: tax
GRI 207 Tax 2019 - -
3-3 Management of material topics Corporate governance 37
207-1 Approach to tax Corporate governance 37
207-2 Tax governance, control, and risk management Corporate governance 37
207-3 Stakeholder engagement and management of concerns Corporate governance 37
related to tax
207-4 Country-by-country reporting Confidentiality constraints. This information is considered business confidential.
GRI 301 Materials 2016 - -
3-3 Management of material topics Circular materials 74
301-1 Materials used by weight or volume Information unavailable/incomplete. Material weight or volume by nonrenewable and
renewable categories for 3M’s 55,000 products (not including intermediates) is currently
not comprehensive. 3M is working to improve systems t
Keyword: governance
Executive Officer 4 governance 37 management 101 scope, and
Leading with Sagamihara, Japan 117
boundaries 122
Gayle Schueller, Chief purpose 8 Enterprise risk 41 Customer-inspired
Ranjangaon, India 119
Sustainability Officer 4 Sustainability goals innovation 109 GRI index 126
Corporate
and progress 12
Code of Conduct 43 SASB index 140
Communities 26
Human rights 50 Assurance
Diversity, equity, statement 143
Compensation 56
and inclusion 33
Metric tables 147
Employee
programs 59
Environmental,
health, and safety
management 65
Circular materials 74
Climate and energy 82
Suppliers 94Who we are How we work What we create Site spotlights About report Leadership messages | 3M 2023 Global Impact Report 4
Leadership messages
Among our accomplishments, we achieved 50%
renewable
Keyword: governance
Our goals and environmental, social, and governance Our Purpose
(ESG) metrics reflect a heightened commitment to
Unlock the power of people, ideas, and science to
thinking holistically about how our people, products,
reimagine what’s possible
and operations can all contribute to a better and
brighter future.
Our Promise
Improve lives by helping solve the world’s
Our impact greatest challenges
Our Principles
Science-based performance
In 2022, we continued to build momentum around
science and collaboration in our operations and our Unparalleled expertise, extraordinary outcomes
communities. We acted with urgency to implement Makers of what’s next
solutions that help us achieve our sustainability goals
Strength in collaboration
for the environment, our communities, and — most
importantly — the
Keyword: governance
Government/ • Complying with laws, regulations, and policies Corporate governance
regulators,
• Supporting and engaging on development and modification Climate and energy
nonprofit
changes
organizations, Diversity, equity, and inclusion
NGOs and • Providing support to advance and solve global issues Communities
experts • Partnering to understand societal concerns
Circular materials
Suppliers
Local • Supporting and engaging in citizenship activities across our Communities
communities value chain
Environmental, health, and
and consumers
• Providing economic and social value to communities while safety management
minimizing environmental impact
• Supporting communities to help them thrive
Academic/ • Engaging on technical scientific research to develop innovative Circular materials
scientific solutions for society
Climate
Keyword: governance
chain governance, and we expect the same from our suppliers.
2 We expect our suppliers to be transparent about their social Supplier Responsibility Code
practices including labor, health, safety, environmental, Supplier Diversity
Responsible sourcing ethics, and management systems; provide improvement
16.5, 16.7
and supplier ideas; and work with us to transform our shared value chain Sustainable Forestry
sustainability as stated in our Supplier Responsibility Code. 3M named as one of the World’s
2 Most Ethical Companies by
Ethisphere Institute for 10th
Supplier diversity consecutive year
3
Community health, We identify potential risks to the environment and to the Communities Invest cash and products for
safety, and well-being health and safety of our empl
Keyword: governance
social justice, science, Corporate governance
3M advocates for environmental, health, and safety policies
health, environment,
and regulations that are guided by science-based decision- Climate and energy
and safety 17.14
making and encourages the adoption and implementation of
Environmental, health, and safety
3 innovative solutions. management
Innovation management
Lobbying and Political Activities
Governance
Equity & Community website
State of Science Index SurveyWho we are How we work What we create Site spotlights About report Leading with purpose | 3M 2023 Global Impact Report 23
3M Sustainability Priority Matrix
Priority topic & tier Our actions Additional information Goals & commitments Related SDG
Collaboration and In collaboration with our employees, customers, partners, Com
Keyword: governance
Sustainability governance Looking forward
Data provided in this Global Impact Report includes
information focusing on items with high potential
to impact 3M’s reputation and items that are of
We need science now more than ever, and our
the greatest importance to internal and external
sustainability pillars — Science for Circular,
stakeholders as defined by the materiality assessment.
Science for Climate, and Science for Community —
Because we are a diversified company, several other will continue to shape our actions as we pursue a
ESG-related topics and performance indicators sustainable future — one in which ecosystems thrive,
relevant to various sectors of the company are also communities are safe and healthy, and opportunities
included in the report. 3M’s execu
Keyword: governance
Learn more about 3M’s overall governance in sharing details in future communications.
the Corporate governance section.
As a global science, technology, and manufacturing
company, we believe 3M is positioned to bring our full
capabilities to bear in advancing meaningful impact.
As we act with urgency, we know systemic change
requires resources and long-term dedication. Our
customers, employees, and communities deserve it.
People around the world are motivated by it — and
our future will be better for it.
As a global science, technology,
and manufacturing company, we
believe 3M is positioned to bring
our full capabilities to bear in
advancing meaningful impact.Who we are How we work What we create Site spotlights About report Communities | 3M 2023 Global Impact Report 26
Communiti
Keyword: governance
inclusion governance
groups at 3M. We continue to work toward bringing valuable research, work, and professional development
To foster a workplace that reflects the 3M Respectful the demographics of 3M’s workforce in line with opportunities to underserved STEM students in higher
Work Environment Principle, we follow U.S. Equal broader workforce availability. education. Learn more about these programs in the
Employment Opportunity (EEO) policies, which Innovation management section.
To measure progress against our goal to double the
prohibit all forms of discrimination or harassment
pipeline of diverse talent in management globally To help us monitor our progress and provide
against applicants, employees, vendors, contractors,
by 2030, we use 3M’s global Divers
Keyword: governance
Corporate governance 37
Enterprise risk 41
Corporate Code of Conduct 43
Human rights 50
Compensation 56
Employee programs 59
Environmental, health,
and safety management 65
Circular materials 74
Climate and energy 82
Suppliers 94Who we are How we work What we create Site spotlights About report Corporate governance | 3M 2023 Global Impact Report 37
Corporate governance
Our commitment Our corporate governance principles define the roles,
rights, and responsibilities of different groups within
3M as well as of our Board of Directors.
3M believes that good corporate governance practices Governance oversight
serve the long-term interests of shareholders, strengthen
the Board and management, and further enhance the 3M’s Board of Directors is comprised of a diverse
Keyword: governance
Our corporate governance principles govern how 3M
strategic and business planning process; has general
does business daily, enabling us to outperform and lead
oversight responsibilities for our overall environmental,
the way to sustainable growth.
social and governance (ESG) and human resources
strategies, goals, and results, including sustainability,
environmental stewardship, and diversity, equity, and
inclusion; and reviews and assesses management’s
approach to addressing significant risks facing
the company.
Corporate
3M’s Board of Directors has adopted Corporate
Governance
Governance Guidelines that provide a framework
Guidelines
for the effective governance of the company. The
provide a
guidelines address matters such as the respective roles
framework for
an
Keyword: governance
governance of
the lead independent director, director independence,
the company Board membership criteria, Board committees,
succession planning, and the annual Board and
committee evaluation process.Who we are How we work What we create Site spotlights About report Corporate governance | 3M 2023 Global Impact Report 38
3M’s Proxy Statement provides annual updates on Sustainability governance
governance topics, including:
Our robust sustainability governance structure includes oversight by our Board of Directors, which receives
• Qualifications, experiences, and diversity of our regular sustainability updates and reviews related risks as part of 3M’s enterprise risk management. The Science,
Board members Technology & Sustainability Committee of the B
Keyword: governance
More information on 3M’s corporate governance can
be found at: Environmental Responsibility and • Provides leadership, oversight, and strategy to encourage and ensure
Sustainability Committee sustainability opportunities are recognized
• Corporate Officers
• Develops and monitors adherence with strong sustainability-related policies
• Board of Directors and procedures
• Committee Composition • Includes 3M’s CEO, CFO, CTO & EVP Environmental Responsibility, Group
President Enterprise Operations, EVP & Chief HR Officer, EVP & Chief Legal
• Governance Documents
Affairs Officer, SVP & Chief Strategy Officer, and EVP Country Governance
• Certificate of Incorporation and Bylaws & Services
• Committee Charters Chief Sustainability Officer • Leads 3M’s sustainability activities
• Reports to t
Keyword: governance
• Corporate Governance Guidelines
and other internal and external groups
• Board of Directors Code of Conduct
Sustainability leaders in business • Drives Strategic Sustainability Framework priorities and initiatives
• Director Independence Guidelines groups, areas, and enterprisewide consistent with the scope of their role
• Annual Reports & Proxy Statements • Leads customer relationships to solve shared global challengesWho we are How we work What we create Site spotlights About report Corporate governance | 3M 2023 Global Impact Report 39
Through engagement with our Board of Directors, Approach to risk management management, 3M’s Ethics & Compliance Department,
executive leadership team, and business units, and tax governance 3M legal counsel, 3MEthics.com, th
Keyword: governance
Governance document.
Day-to-day management of 3M’s taxes is overseen by of tax efficiency.
3M’s approach to taxation the tax management responsible for the respective
region and area of taxation. Processes relating to
3M is committed to complying with all applicable various taxes are allocated to the relevant process
tax laws, rules, regulations, and reporting and owners responsible for executing tax compliance
disclosure requirements through the implementation controls. Appropriate training is carried out for staff
of standardized, simplified, cost-effective, and who manage or process matters with tax implications.
automated compliance processes. This means paying
the right amount of tax in the right place at the right Transactions between 3M compan
Keyword: governance
report concerns about tax matters toWho we are How we work What we create Site spotlights About report Corporate governance | 3M 2023 Global Impact Report 40
Risk management in relation to taxation Looking forward
Our approach to tax risk follows principles similar
to those that apply to our management of legal,
compliance, and other business risks. Our internal
We regularly post governance news, events,
framework supports compliance with tax laws and
and presentation information on the Events &
regulations to assure we identify, assess, and mitigate
Presentations page of our Investor Relations website.
tax risks, including consideration of both internal and
external stakeholders.
Approach toward engagement
with tax authorities
We strive to have an open, honest, and collaborative
working relationship with tax authorities. 3M assures
that specific tax authoritie
Keyword: governance
Our commitment 3M believes that good corporate governance
practices serve the long-term interests of our
stakeholders, strengthen 3M’s Board of Directors
and management, and further enhance the public
To assure 3M’s long-term success, we’re committed trust we’ve earned from more than a century of
to identifying and preparing for material opportunities operating with unwavering integrity.
and threats impacting our ability to deliver on
stakeholder expectations. Risk oversight
The concept of risk appetite and tolerance is an
essential component of our strategic planning.
Our impact
The Board delegates primary responsibility for
the oversight of risks facing the company to the
Audit Committee of the Board of Directors.
3M’s general auditor conducts an annual review
The Audit Committee Charter states
Keyword: governance
• Chemicals stewardship governance processes, and clear roles,
• Providing for ongoing risk review and assessment responsibilities, and accountability.
• Combat armsWho we are How we work What we create Site spotlights About report Corporate Code of Conduct | 3M 2023 Global Impact Report 43
Corporate Code of Conduct
Our commitment We have one Code of Conduct that applies to our
92,000 employees in over 70 countries. Our Code
of Conduct summarizes 3M’s compliance principles
and raises awareness about how to do business the
The Code of Conduct positions 3M for long-term right way, at all times and at every site. The Code
growth and binds us together as 3M employees — of Conduct is our guide, answering questions and
across business groups and across geographies. Great providin
Keyword: governance
Global compliance program Governance structure Compliance training
3M’s Ethics & Compliance Department manages and The chief ethics & compliance officer reports directly and education
administers our global compliance program, which is to the Audit Committee of the 3M Board of Directors.
led by our chief ethics & compliance officer, a senior The Audit Committee helps the Board oversee 3M’s 3M offers a comprehensive online compliance training
vice president role. The department is staffed with legal and regulatory compliance efforts. This direct program to employees worldwide. Employees are
compliance professionals around the world. reporting line assures the independence of the Ethics assigned training modules based on their role and
& Compliance Department, which is responsi
Keyword: governance
relations rules, and regulations Lobbying and Political Activities Governance,
and Doing Business with Government Agencies
3M suppliers
and Contractors Principle
Based on our assessment process, we’ve determined
Acquisitions, Failing to recognize human rights issues Prioritize and address human rights issues relative
mergers, and during the acquisition, merger, or to risk and compliance; see Human Rights that in our spheres of influence (our own business and
divestitures divestiture diligence processes Policy, Respectful Work Environment Principle, others acting on 3M’s behalf), the greatest potential
EHS&PS Acquisitions, Mergers, and Divestitures for human rights impact is within our supply chain.
Standard, and Workplace Environmental, We want our suppliers to share our commitment
Health, and Safety Principle to ma
Keyword: governance
consultant, the Nominating and Governance
promotes innovation and rewards performance.
Committee annually reviews the status of the Board of
We rely on our global compensation principles to
Directors’ compensation in relation to peer companies
provide fair and equitable pay that’s competitive in
and recommends to the Board any changes in
the current market.
compensation for non-employee directors.
The Compensation and Talent Committee regularly
Our impact reviews all aspects of executive compensation.
The committee, along with an independent
compensation consultant, assesses the design of
incentive compensation and the risks associated with
We appropriately benchmark compensation of our it, recommending changes when appropriate. The
global sites and use consistent methods to asses
Keyword: governance
financial future. incorporate an environmental, social, and governance
(ESG) modifier, see our 2023 Proxy Statement, our
Nominating and Governance Committee Charter,
and our Compensation and Talent Committee
Charter.
100%
gender pay equity
in our global regionsWho we are How we work What we create Site spotlights About report Compensation | 3M 2023 Global Impact Report 57
Performance, Our “Unwavering integrity” element specifically calls The process starts by gathering data from multiple
for us to deepen our dedication to sustainability and to surveys, conducting an analysis of average pay for
compensation, and culture
our global communities. males and females, and comparing the two (i.e., a raw
pay gap). We then compare pay for males and females
Our culture not only provides a framework for
We aim to advance
Keyword: governance
• Evaluate and understand risks associated with capital through the governance process.
high-hazard activities, including, but not limited to,
For detailed expenditures on capital projects for
nonroutine production and maintenance tasks
environmental purposes, see our Annual Report on
In 2022, more than 145,000 cultural acceleration Form 10-K, Item 1 – Government Regulation and
engagements, or “see and acts,” were documented Environmental Law Compliance.
between leadership and employees across our
manufacturing and supply chain operations.
These engagements help us build trust and make
improvements to our EHS practices. In 2022, more than
145,000
cultural acceleration engagements,
or “see and acts” were documentedWho we are How we work What we create Site spotlights About report EHS management | 3M 2023 Global Impact
Keyword: governance
help protect pipes by reducing scale. governance
To achieve our 2025 goal of engaging 100% of water-
stressed communities where we manufacture, we’ll To learn more about these and other 3M water-quality At 3M, we believe it’s our responsibility to be strategic
partner with local communities to promote water products, visit Water Quality. and planful and to mitigate risks related to our use of
recycling and conservation. Ultimately, we aim to renewable and recycled materials. Our sustainability
Conserving water and improving
help these communities build and manage their own risk governance is overseen by our Science,
water efforts into the future. In alignment with this quality in our communities Technology & Sustainability Committee (STS) of the
goal, 3M joined the Water Resilience Coali