exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
relevant Board committees, the ESG Steering social and governance factors, subject to client investment
Committee, the Sustainability team and the policy requirements, when making investment decisions and
Responsible Investing Committee. Allstate requests that our external money managers do the same.
Investments’ Management Committee oversees We revisit the Responsible Investing Policy each year.
the Responsible Investing Committee (RIC). The policy applies across all asset classes in our investment
portfolio, and covered 100% of our active, passive and
Allstate’s Responsible Investing Committee
externally-managed assets under management in 2023.
includes representatives from a cross-functional
group drawn from Allstate Investments, with Where appropriate, we consider incorporating environmental,
the cha
Keyword: governance
irperson of the RIC also a member social and governance factors into our decision-making
of Allstate’s ESG Steering Committee. The process for investments in order to reduce risk and enhance
RIC monitors sustainable investing trends, impact while delivering attractive risk-adjusted financial
evaluates sustainable investing best practices, returns. For example, when making direct investment
supports the work of the ESG Steering decisions, our team considers available data, pertinent ESG-
Committee, and periodically reports about its related factors, and when assessing our external money
activities to other senior leaders within Allstate. managers we consider how they evaluate those factors in
In conjunction with Allstate’s Investments Risk their investment selection and review process. We classi
Keyword: governance
Environmental Social Governance
For example, those identified by Sustainability Consideration of social Where appropriate,
Accounting Standards Board (SASB), such factors such as human assessment of supply
as greenhouse gas emissions, air quality, rights and community chain management,
energy management, water and wastewater relations, customer privacy, business model resilience,
management, waste and hazardous materials data security, access and product life cycle and
management, ecological impacts and physical affordability, product quality design, business ethics,
impacts of climate change. and safety, customer welfare, competitive behavior,
selling practices, labor regulatory and legal
The immediate business impacts of
practices, employee health environment and risk
Keyword: governance
Information Governance Program.
measures to protect customer data. The preventive,
detective and corrective controls implemented to protect
2023 Sustainability Report | AllstateSustainability.com The Allstate Corporation53
our data and systems minimize the attack surface
by ensuring that people only have access to the
level of information required to do their job, in
following with the principle of least privilege and
industry standards.
Our Information Security Governance, Risk and
Compliance team analyzes our enterprise cyber
risk strategy and oversees risk management by
establishing an enterprise-wide cybersecurity policy
framework and standards. They ensure we comply
with cybersecurity laws and regulations.
Allstate Information Security works with partners
a
Keyword: governance
Governance and Assurance team that assesses
third-party security risks.
2023 Sustainability Report | AllstateSustainability.com The Allstate Corporation54
Ethics and
Integrity
Our Ambition Our Progress in 2023
Integrity is at the heart of who we are and how we In 2023, Enterprise Business Conduct (EBC) worked
operate. That’s how we protect our stakeholders and with internal partners to find legal and compliance
our reputation. Yes, we comply with laws, regulations solutions that fit our business models and advance
and ethical conduct guidelines. Of course we do. And progress toward goals while upholding Allstate’s strong
we maintain our focus on customers and business ethics, compliance and privacy standards. Through
objectives. But here’s the thing.
Keyword: governance
Framework, which includes governance, processes,
to confirm our partners are upholding their
culture and activities performed on an integrated,
commitments to safe and fair working conditions.
enterprise-wide basis, following our risk and return
principles. Under the ERRM framework, our Culture Risk To protect our people and vulnerable groups, we
and Return team monitors, measures and assesses utilize our due diligence risk identification process for
internal talent-related metrics and updates leadership. our employees, women, local communities, suppliers,
Indigenous people and migrant workers. This process
covers risk identification in:
• Our operations.
• Our value chain or other activities related to our
business.
• New business relations (mergers, acquisitions, joint
vent
Keyword: governance
Allstate policies pertaining to governance of sustainability-related topics. Internal policies are noted but not linked.
Publicly-available policies are noted and linked.
Policy
Fair Remuneration Policy Yes
Employee Training Policy Yes
Equal Opportunity Policy Yes
Human Rights Policy Yes
Policy Against Child Labor Yes
Business Ethics Policy Yes
Anti-Bribery Ethics Policy Yes
Employee Privacy Statement Yes
Employee Protection / Whistle Blower Policy Yes
Health and Safety Policy Yes
Renewable Electricity Target Policy No
Energy Efficiency Policy No
Green Building Policy No
Environmental Supply Chain Management Policy No
Climate Change Policy Yes
Biodiversity Policy Yes
Global Code of Conduct Yes
Supplier Code of Conduct Yes
2023 Sustainability Report | AllstateSustainability.com The
Keyword: corruption
Train and certify compliance with the Anti-corruption Compliance Policy for
Achieved 2023;
all employees annually. Ongoing
CF INDUSTRIES • ESG REPORT 2023 21FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Energy, Emissions
& Climate Change
UN SDGS
CCFF IINNDDUUSSTTRRIIEESS •• EESSGG RREEPPOORRTT 22002233 2222FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DA
Keyword: corruption
Train and certify compliance with the Anti-corruption Compliance Policy for all employees annually.
Our Ethics & Governance dimension Ongoing
pertains to ethics within our
operations, as well as those of our
Ethics and Compliance
suppliers. We do this through proper
screening and evaluation, including At CF Industries, our Code of Corporate Conduct serves as the foundation of our Additionally, we protect the safety of our employees from harassment or
ethics management, which all employees and directors are required to follow. discrimination and have a well-established complaints management process
determining the extent to which our
that includes an anonymous, 24/7 hotline for our employees to file a complaint
suppliers share our commitment Our Code of Corporate Conduct includes measures to e
Keyword: corruption
▶ Environmental, Health, Safety, and Security Policy ▶ Policy on Insider Trading ▶ Environmental, Health, Safety, and Security Policy ▶ Anti-Corruption Compliance Policy
▶ Inclusion, Diversity & Equity (ID&E) matters ▶ Workplace Violence Prevention and Weapons
Policy
▶ Anti-Corruption Compliance Policy
▶ Cybersecurity and Information Security
▶ Antitrust Compliance Policy and Guide
Statement
▶ Anti-Harassment Policy
▶ Third Party Code of Conduct
▶ Export Controls and Sanctions Compliance Policy
CF INDUSTRIES • ESG REPORT 2023 60FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Cybersecurity and Information Technology Systems
Information security – including protection fr
Keyword: corruption
▶ World Check: Screens for corruption and fraud as well as compliance
with sanctions.
If an issue is raised during the screening process, we initiate a review
process to determine the level of importance. If a concern is deemed
problematic, we proceed as follows:
1. Engage the supplier to develop improvement plans to get them
to meet CF Industries’ expectations, while ensuring their on-site
performances meets our requirements.
2. Block non-compliant suppliers in our vendor system.
CF INDUSTRIES • ESG REPORT 2023 62FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT &
Keyword: corruption
VOCs (volatile organic Train and certify compliance with the Anti-corruption Compliance Policy for all
Tonnes 811 694 707 715 764 1,835 2,320 100% 100% #N/A
compounds) employees annually.
Ammonia (NH) Tonnes 7,102 8,043 8,154 8,781 10,379 9,203 8,723
3 Train on inclusion, diversity and equity matters for all employees annually 100% 100% #N/A
Water Management
Total Water Withdrawal Megaliters 142,245 133,751 138,134 142,719 143,545 127,696 135,440
Total Water Discharge Megaliters 75,188 71,307 79,028 83,098 83,124 60,062 64,231
Total Water Consumption Megaliters 67,057 62,444 59,103 59,621 60,420 67,634 75,520
Safety
Fatality rate Total/200,000 hrs. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total injuries Injuries 10 9 9 4 18 18 17
Lost time incident rate Total/200,000 hrs. 0.04 0.04 0.14 0.00 0.17 0.20 0.07
Recordable inc
Keyword: corruption
203 INDIRECT ECONOMIC IMPACTS 204 PROCUREMENT PRACTICES 204-1 205 ANTI-CORRUPTION
PROPORTION OF SPENDING ON LOCAL SUPPLIERS
3-3 3-3 3-3
MANAGEMENT APPROACH MANAGEMENT APPROACH Proportion of spending on local suppliers MANAGEMENT APPROACH
See GRI Disclosure 202 – Market Presence – Management Approach We ask all suppliers to abide by CF’s Third-Party Code of Conduct as part of the CF promotes a high-integrity culture that guides our day-to-day work and
Percentage of the procurement budget used for significant locations of
contractual agreements. Prescreening of our suppliers is critical to maintaining applies to every aspect of our operations, from putting safety first to conducting
operation spent on suppliers local to that operation (such as percentage of
our EHS performance and culture. CF works with a third party in t
Keyword: corruption
Foundation, to advance the company’s philanthropic goals and develop into supplier performance management at CF. Siemens), we include the supplier office; serving the CF site if it is located OPERATIONS ASSESSED FOR RISKS RELATED TO CORRUPTION
programs that further our charitable objectives. within the 50-mile / 81-kilometer radius is included;
See 2023 Form 10-K, page 19
In 2024 we will be updating the procurement sustainability maturity review, • Service providers with the majority of employees residing within 50-mile /
In 2023, the CF Industries Foundation made a $50,000 grant to a local public which we will use to prioritize and set objectives for our teams to further 81-kilometer; and,
high school focused on agricultural sciences and announced a grant of $120,000 improve sustainable procurement in CF. See CF’s Code of Corporate Conduct, pages 22-23
• Employee reimbursements are not included. Does not include natural gas
over three years to a food bank in Louisiana to suppor
Keyword: corruption
“How We Give Back,” page 34, 2023 ESG Report, “Community Relations and COMMUNICATION AND TRAINING ABOUT ANTI-CORRUPTION POLICIES
Engagement,” pages 45-47, and 2024 Proxy Statement, “Corporate Governance Local Supplier Spending (USD) AND PROCEDURES
— Corporate Responsibility — Charitable Activities and Charitable Contributions Sites
All CF employees participate in annual code of conduct and anti-corruption
Report,” pages 36-37. Local Spend Total Spend % Local Spend
training. See Anti-corruption Compliance Policy
Courtright 22,567,803 57,899,243 39%
See CF’s Code of Corporate Conduct, pages 22-23
Northbrook 102,825,208 252,570,049 41%
203-2
SIGNIFICANT INDIRECT ECONOMIC IMPACTS Donaldsonville 419,604,141 565,959,299 74%
See 2023 ESG Report, “Our Workplaces & Communities,” pages 34-47 and “Food Medicine Hat 23,824,811 94,021,690 25% 205-3
Security, Product Ste
Keyword: corruption
wardship, Nature and Biodiversity,” pages 48-57. See also CONFIRMED INCIDENTS OF CORRUPTION AND ACTIONS TAKEN
Port Neal 43,175,273 101,217,013 43%
2023 Sustainability Summary, “Workforce,” pages 26-31, and “Community,”
pages 32-34. Verdigris 48,659,341 119,961,985 41% This information is not released due to confidentiality constraints.
Woodward 8,573,822 97,935,866 9%
Yazoo City 13,832,169 51,837,054 27%
Ince — — —
Billingham 20,396,467 68,362,056 30%
Total 703,459,035 1,409,764,255 50%
CF INDUSTRIES • ESG REPORT 2023 83FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
206 ANTI-COMPETITIVE BEHAVIOR 207 TAX 207-4
Keyword: corruption
See GRI Disclosure 205 – Anti-Corruption – Management Approach See 2023 Form 10-K, page 21
CF Industries complies with country-by-country reporting as required by the
Organization for Economic Cooperation and Development.
206-1 207-1
LEGAL ACTIONS FOR ANTI-COMPETITIVE BEHAVIOR, ANTI-TRUST AND APPROACH TO TAX
MONOPOLY PRACTICES
CF Industries operates principally in the United States, as well as in Canada and
There were no legal actions pending or completed during the reporting period the UK. We are committed to complying with all tax laws and regulations in each
regarding anti-competitive behavior or violations of anti-trust or monopoly jurisdiction in which we do business. We are a current income taxpayer, both
legislation in which the company was identified as a participant. wit
Keyword: corruption
during the reporting period. In addition, our operations in the UK have a policy on development opportunities and philanthropic support for local causes. are expected to be in full compliance with all applicable anti-corruption laws,
Modern Slavery and we conduct reviews to ensure compliance by our suppliers. including but not limited to the Foreign Corrupt Practices Act, anti-boycott laws
and trade sanctions.
413-2
412-2 OPERATIONS WITH SIGNIFICANT ACTUAL AND POTENTIAL NEGATIVE
EMPLOYEE TRAINING ON HUMAN RIGHTS POLICES OR PROCEDURES IMPACTS ON LOCAL COMMUNITIES 414-2
NEGATIVE SOCIAL IMPACTS IN THE SUPPLY CHAIN AND ACTIONS
CF is committed to the protection and advancement of human rights in SASB Topic: Community Relations, Code: RT-CH-210a.1
TAKEN
its global operations and has adopted a Human Rights Policy. CF is further
CF operates a set of modern production and distribution facilities. We recognize
committed to doing the right thing, every time, in all our busi
Keyword: corruption
our code of conduct and anti- corruption training annually.
CF actively manages the risks associated with its operations in accordance
In addition, all employees receive annual training on our EHS policy and CF’s
with regulatory requirements and industry codes, including local rules, in order
anti-harassment and discrimination policies. Our sales professionals are also
to prevent incidents and mitigate any impact. Potential impacts are evaluated
provided annual anti-trust training.
and managed via risk controls, including engineered measures, procedures,
emergency response arrangements and associated training. Significant
investments are also evaluated for the potential negative impacts, and
appropriate risk mitigation measures are identified.
412-3
At CF, our “Do It Right” philo
Keyword: tax
3 EBITDA is defined as net earnings attributable to common stockholders plus interest expense-net, income taxes, and depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted with the selected items included in EBITDA. See “Reporting and Data” in this Report for a reconcilia-
LONG-TERM
CF INDUSTRIES • ESG REPORT 2023 tion of EBITDA and adjusted EBITDA to the most directly comparable GAAP measures. ▷ We collaborate and cooperate with all stakeholders. 11
VIEW
4 Free cash flow is defined as net cash from operating activities less capital expenditures and distributions to noncontrolling interest. See “Reporting and Data” in this Report for a reconciliation of free cash flow to the most directly comparable GAAP measure.
▷ Our goal is outstanding financial performance.
▷ We are committed to employee development, building a diverse
and
Keyword: tax
production of sustainable companies face carbon taxes
support decarbonization of This density-related Low-carbon ammonia is Japan’s largest utility,
aviation fuel (SAF) is gaining and look to achieve ESG
agricultural inputs advantage, along with expected to play a large role JERA, is conducting a
significant traction targets
existing global production in supporting the transition demonstration-scale test of
Consumer packaged goods
Fertilizers manufactured and infrastructure, positions to alternative fuels co-firing 20% ammonia with
(CPG) companies could look to
with a lower carbon intensity ammonia as a preferred coal in 2024
fertilizers manufactured with
can reduce ethanol’s carbon hydrogen transport medium
a lower carbon intensity to
intensity by over 10%
achieve decarbonization goals
CF IN
Keyword: tax
establish cooperative relationships and share information, listen, and be Employees Taxes
minimum Spending16 Taxes
responsive to those who may be impacted by our operations, including
wage
our neighbors, local officials, civic associations, environmental, labor,
community, and religious groups. We work extensively to minimize
Fundraise for the United Way, developing food pantries
environmental, safety, health, and other potential impacts on the local
for local schools, and supporting other educational
Donaldsonville,
community and partner with first responders and others to promote a
569 $420M $11.1M $17.6M organizations, including through a recent $1 million
Louisiana
safe environment for our employees and the broader communities.
commitment to support a new Early Childhood
Development Center.
CF Industries’ U.S. production lo
Keyword: tax
The Company supports clean energy policies including clean energy roadmaps, tax credits to spur investment in CCS (e.g.,
▶ Collaborated with the Bipartisan Policy Center, a
the U.S. 45Q credit) and clean hydrogen production (e.g., the U.S. 45V credit), and programs to support clean energy and CCS
bipartisan Washington, DC-based think tank, on
infrastructure and broader deployment.
unlocking climate solutions to decarbonize energy-
intensive industries.
The Creation of Clean Energy and Food System Demand Drivers
Supporting demand drivers will help accelerate decarbonization while boosting productivity and economic growth, rural
livelihoods, biodiversity protection, mitigation and adaptation to climate change, and natural resource management.
The Company supports the development of domestic and Recognizing the need for
Keyword: tax
to tax policies related to decarbonization, electricity generation or clean energy that could impact our business and investment decisions. In addition, to the extent
GHG restrictions are not imposed in countries where our competitors operate or are less stringent than regulations that may be imposed in the United States,
Canada or the United Kingdom, our competitors may have cost or other competitive advantages over us.
• We also face physical risk from adverse weather conditions, which depending on their severity, frequency and location have the potential to damage our facilities
and disrupt our operations, and to affect adversely the shipping and distribution of our products.
• We use the North American waterway system extensively to ship prod
Keyword: tax
expected to qualify for tax credits under Section 45Q of the Internal Revenue Code, which provides a credit per tonne of CO2 sequestered. expected to qualify for tax credits under Section 45Q of the Internal Revenue Code, which provides a credit per tonne of CO2 sequestered.
Alongside these projects, we are also evaluating the construction of greenfield low-carbon ammonia capacity in Louisiana. In the fourth quarter of 2023, we and Mitsui & Alongside these projects, we are also evaluating the construction of greenfield low-carbon ammonia capacity in Louisiana. In the fourth quarter of 2023, we and
Co., Ltd. (Mitsui) completed a front-end engineering and design (FEED) study on a greenfield steam methane reforming (SMR) ammonia facility with CCS technologies. Mitsui & Co., Ltd. (Mitsui) completed a front-end engineering and design (FEED) study on a greenfield steam methane reforming (SMR) ammonia facilit
Keyword: tax
capital improvements to our facilities, or increase our costs for or limit the availability of energy, raw materials or transportation. Changes could also be made to tax
policies related to decarbonization, electricity generation or clean energy that could impact our business and investment decisions. In addition, to the extent that GHG See 2024 Proxy Statement, “Corporate Governance -- Board Oversight of Strategy and Risk Management -- Board Oversight of Risk Management, pages 30-31.
restrictions are not imposed in countries where our competitors operate or are less stringent than regulations that may be imposed in the United States, Canada or the
United Kingdom, our competitors may have cost or other competitive advantages over us. METRICS AND TARGETS A
METRICS USED BY THE ORGANIZATION
• We also face physical risk from adverse weather conditions, which depending on their severity, frequency and location
Keyword: tax
MANAGEMENT APPROACH CF Industries complies with tax law and practice in all of the territories in which MANAGEMENT APPROACH
we operate. Compliance means paying the right amount of tax, in the right place,
S paA gS eB
s
T 2o 2p -ic 2:
3
Community Relations, Code: RT-CH-210a.1 See 2023 Form 10-K, a tht eth te
ax
r i ag uh tt
h
t oim rite ie, a sn ad
n
i dn v co lalv imes
in
d gi s rc el lo ies fi sn g
a
na dll ir ne cle ev na tn ivt
e
f sa c wt hs ea rn ed
a
c vi ar ic lau bm les
.
t ances to M loca an ty
i
oo nf st ,h we
h
c eo rm
e
wm eu an rit ei e os
f
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en
w th hi ec h
la
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e
so tp ee mra pte
lo
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r
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t
rs ibm ua tl ol ra tn od
t
i hn
e
r u lor ca al
l Significant
MiL no imca ul
m CF Entry Level CF Entry Level
WCF
a
gE en st r Ry e- lL ae tv ive el
Opera
Keyword: tax
tax base. For plants in operation, we provide well-paid positions with salaries that Wage
Minimum Wage
are often well above the standard salaries in the area. As an example, starting
In structuring our commercial activities, we will consider – among other factors –
the tax laws of the countries within which we operate with a view to maximizing salaries at our nitrogen complexes average $61,100 per year and increase, with Gender -- Male Female Male Female Male Female
full certification, to $96,800. For every new direct position created, we estimate
201-1 value on a sustainable basis for our shareholders. Any tax planning undertaken US Range/
DIRECT ECONOMIC VALUE GENERATED AND DISTRIBUTED will have commercial and economic substance and will hav
Keyword: tax
Given the scale of our business and volume of tax obligations, risks will inevitably
young people and strengthen communities where we operate. Our community
arise from time to time in relation to the interpretation of tax law and nature of In the UK, the apprentices are the only employees paid minimum wage.
201-2 our compliance arrangements. We proactively seek to identify, evaluate, manage giving strategy is locally focused and designed to benefit the 30-plus North
FINANCIAL IMPLICATIONS AND OTHER RISKS AND OPPORTUNITIES and monitor these risks with the objective of minimizing tax risk. Where there is American and UK communities where our manufacturing and distribution
DUE TO CLIMATE CHANGE significant uncertainty or complexity in relation to a risk, external advice may be facilities are
Keyword: tax
We engage with tax authorities, with honesty, integrity, respect and fairness and COMMUNITY
natural resources that feed and fuel our communities.
in a spirit of cooperative compliance. We strive to be open with tax authorities,
to provide prompt and up-to-date information about how we manage our tax 2023: 100%
201-3 responsibilities, and to ensure our relationship with tax authorities is efficient • Healthy Food Access – Improving access to nutritious, affordable foods that 2022: 67%
DEFINED BENEFIT PLAN OBLIGATIONS AND OTHER RETIREMENT and effective for both parties. members of all communities – including low- income communities and
PLANS communities of color – need to grow and thrive. 2021: 83%
2020: 60%
CF employees are eligible to participate in a 401(k)
Keyword: tax
206 ANTI-COMPETITIVE BEHAVIOR 207 TAX 207-4
COUNTRY-BY-COUNTRY REPORTING
3-3 3-3
MANAGEMENT APPROACH MANAGEMENT APPROACH This information is not released due to confidentiality constraints.
See GRI Disclosure 205 – Anti-Corruption – Management Approach See 2023 Form 10-K, page 21
CF Industries complies with country-by-country reporting as required by the
Organization for Economic Cooperation and Development.
206-1 207-1
LEGAL ACTIONS FOR ANTI-COMPETITIVE BEHAVIOR, ANTI-TRUST AND APPROACH TO TAX
MONOPOLY PRACTICES
CF Industries operates principally in the United States, as well as in Canada and
There were no legal actions pending or completed during the reporting period the UK. We are committed to complying with all tax laws and regulations in each
regarding anti-competitive be
Keyword: tax
TAX GOVERNANCE, CONTROL, AND RISK MANAGEMENT
We maintain internal controls and transparency with global tax authorities, and
we share information relevant to our business operations and tax profile. We
augment this transparency through country-by-country reporting, as required
under the Organization for Economic Co- operation and Development’s action
plan to address base erosion and profit shifting.
In addition, the tax function is reviewed as part of our internal controls audit and
by our external auditor, KPMG. Our income tax policy is overseen by our Vice
President of Tax, who reports to the Chief Financial Officer.
207-3
STAKEHOLDER ENGAGEMENT AND MANAGEMENT OF CONCERNS
RELATED TO TAX
CF Industries is committed to complying will all applic
Keyword: tax
relating to its tax activities and adhering to this tax strategy. Company
management maintains an open and honest relationship with the tax authorities
based on efficiency and integrity. The Company applies diligence and care in the
management of the processes and procedures by which all tax-related activities
are undertaken and ensures that its tax governance is appropriate.
For more information on how income taxation impacts CF Industries, see 2023
Form 10-K, page 21.
The processes for collecting and considering the views and concerns
of stakeholders, including external stakeholders is not released due to
confidentiality constraints.
CF INDUSTRIES • ESG REPORT 2023 84FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE
Keyword: tax
tax, security, transportation, and agriculture policy among other issues. and impact of our products. We also assess the health and safety impacts of our to the product. These are accessible on our website but also provided to those the responsible collection, storage, and processing of customer information.
products and that information is shared on product safety data sheets and in whom we supply and contain the requisite information about the environmental Regular audits and assessments are conducted to verify compliance with
The CF global public affairs team identifies current and emerging public policy other product literature. impact of our products, including information about safe use and disposal. applicable privacy regulations and in
Keyword: tax
exempt from federal income tax under section 527 of the Internal Revenue material to investors through our Form 10-K and 10-Qs. During the reporting
Code, and ballot measure committees). CF annually discloses any political year, there were no fines, penalties or warnings resulting from incidents of non-
contributions on its corporate website. compliance with regulations, or voluntary codes concerning information and
labeling of products and services.
CF INDUSTRIES • ESG REPORT 2023 98FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Reconciliation of N
Keyword: tax
performance and financial strength. Management of year-over-year performance. Free cash flow Income tax provision 410 1,158
uses these measures, and believes they are useful is defined as net cash provided by operating
Depreciation and amortization 869 850
to investors, as supplemental financial measures activities, as stated in the consolidated statements
Less other adjustments:
in the comparison of year-over-year performance. of cash flows, reduced by capital expenditures
Depreciation and amortization in noncontrolling interest (85) (87)
Non-GAAP financial measures should be viewed and distributions to noncontrolling interest. The
Loan fee amortization1 (4) (4)
in addition to, and not as an alternative for, the Company has presented free cash flow because
EBITDA $ 2,707 $ 5,542
Company’s reported results prepared in accordance management u
Keyword: tax
expense - net, income taxes, and depreciation Loss on debt extinguishment — 8
and amortization. Other adjustments include the Total adjustments 53 338
elimination of loan fee amortization that is included Adjusted EBITDA $ 2,760 $ 5,880
in both interest and amortization, and the portion
of depreciation that is included in noncontrolling Non-GAAP: reconciliation of cash from operations to free cash flow
interest. The Company has presented EBITDA
because management uses the measure to track 2023 2022
performance and believes that it is frequently used in millions
by securities analysts, investors and other interested Net cash provided by operating activities $ 2,757 $ 3,855
parties in the evaluation of companies in the industry. Capital expenditures (499) (453)
Distrib
Keyword: tax
2 For the year ended December 31, 2022, net cash provided by operating activities and free cash flow includes the impact of $491 million in tax and interest payments made
to Canadian tax authorities in relation to an arbitration decision covering tax years 2006 through 2011 and transfer pricing positions between Canada and the United States for
open years 2012 and after. The Company has filed amended tax returns in the U.S. seeking refunds of related taxes paid.
CF INDUSTRIES • ESG REPORT 2023 99FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Forward-Looking Statements
All statements in this CF Industries 2023: ESG More detailed information about factors that m
Keyword: governance
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
A MESSAGE FROM OUR CEO
To Our Stakeholders:
Our Mission is to Feed and Fuel the World Sustainably
CF Industries continued to make progress in
2023 across many strategic initiatives including At our core, CF Industries is a producer of ammonia. Along with advancements in seed technology and
the environmental, social, and governance We use the Haber-Bosch process to fix atmospheric farming practices, the use of nitrogen fertilizer
(ESG) dimensions that we believe are a critical nitrogen with hydrogen, which historically came and other nutrients dramatically increased
component of the long-term success of our from natural gas, to produce anhydrous ammonia, food production in the second half of the 1900s,
Company. Th
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Today we have an opportunity to strengthen our existing business and set
the Company on a significant growth trajectory by doing what we do best
– produce ammonia – while significantly reducing the carbon emissions
associated with ammonia production. We believe that doing so:
▶ Is the right thing to do, in line with our long-standing commitment
to environmental stewardship and our stakeholders’ and society’s
interests in reducing greenhouse gas emissions.
▶ Meets growing interest in low-carbon ammonia and low-carbon
nitrogen fertilizers for traditional agriculture-related applications to
lower the carbon footprint of food production and enable ethanol as
a sustainable aviation fuel. The use of low-carbon nitrogen
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Our Strategy
As a result, our strategy is to leverage our unique capabilities to accelerate the world’s transition to clean energy.
Decarbonization is at the heart of this strategy. As we decarbonize, we will be doing our part while providing
clean energy to existing and new customers so that they can decarbonize their industries. We believe this will
enable us to grow profitably while doing good for the environment.
Our committed goals include reducing Scope 1 carbon dioxide-equivalent emissions intensity by 25% by 2030
(compared to a 2015 baseline) and achieving net zero carbon emissions by 2050. We also have committed to
reducing our Scope 3 emissions by 10% by 2030.
We have made tangible progress against thes
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Our Broad Responsibility A Bright Future Ahead
Our strategy of accelerating the world’s transition to clean energy is linked to a comprehensive set of ESG For nearly 80 years, CF Industries has helped the world grow and thrive. Today, our capacity and our
goals. Our complete list of ESG goals appears later in this report and can also be found at commitment to build on these efforts have never been higher. As you will see in the following pages, there is
www.cfindustries.com. an energy and purpose across our many initiatives that is driving CF Industries forward.
We believe that progress on these issues can strengthen the Company for the long-term. These include We are proud of the progress we have made, with quan
Keyword: governance
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
About
This Report
CCFF IINNDDUUSSTTRRIIEESS •• EESSGG RREEPPOORRTT 22002233 66FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
CF Industries’ (the Company) 2023 ESG Report provides an update on The Report is organized into four sections corresponding to the
the strategy, performance, and goals within key environmental, social, Company’s four ESG dimensions: Energy, Emissions & Climate Change;
and governance (ESG) areas between January 1, 2023, and December Our Workplace & Communities; Food Secu
Keyword: governance
31, 2023. The Report covers operations under Company control in North Nature & Biodiversity; and Ethics & Governance. These four dimensions
America and the United Kingdom (U.K.), except for its Waggaman serve as the foundation of our corporate ESG strategy and incorporate
ammonia production facility, unless otherwise stated. CF Industries our most material topics. Additional sections provide further context on
completed its acquisition of the Waggaman facility on December 1, 2023. business operations and business relationships.
For more information on this acquisition, please see the corresponding
Any references to “material” or “materiality” in this Report, or related
press release.
content online or elsewhere, are not intended to have the same meaning
This Report is a part of CF Industries’ ongoing commitment to as in the context of financial statement
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Our
Business
CCFF IINNDDUUSSTTRRIIEESS •• EESSGG RREEPPOORRTT 22002233 88FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
About CF Industries
In 1946, CF Industries was founded as a cooperative of regional 2023 RECOGNITION AND AWARDS
agricultural supply companies. Over the last 75-plus years, we have
evolved to meet the demands of our customers and contribute globally
to address society’s greatest challenges – including food security and
energy.
Today, CF Industries is the world’s leading ammon
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
HOW CF INDUSTRIES CREATES VALUE
Our mission is to provide clean energy to feed and fuel the world sustainably.
Logistics and
Financial Operational Clean Energy Collaborative Community and
Distribution
Strength Excellence Solutions Teams Partnerships
Capabilities
Cash generation capability A leading operator of ammonia A reliable supplier of fertilizer and A committed leader in hard-to-abate A dedicated team of employees that An active member of the
underpinned by operational and nitrogen manufacturing industrial products for customers, industry decarbonization efforts that build the foundation of everything communities, industries, and
and structural advantages and facilities. even in the event of disruption to s
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
▷ We put safety first.
WE DO
▷ We are ethical and compliant in our business dealings.
IT RIGHT
▷ We are stewards of the environment.
CF INDUSTRIES FINANCIAL PERFORMANCE OUR CORE VALUES ▷ We foster an inclusive culture, treating each other with respect.
Our Core Values are the foundation of our business. They establish our expectations and guide the
daily activities of our people.
Year
2023 2022 2021
▷ We put safety first.
WE DO ▷ We work as a team for the greater good of the company.
WE EXECUTE ▷ We are ethical and compliant in our business dealings.
IT RIGHT ▷ We put safety first.
AS A TEAM ▷ We lead courageously and actively seek diverse perspectives,
Net Earnings WE DO ▷ We are stewards of the environment.
$1.
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Our Strategy
Our strategy is to leverage our unique capabilities to countless people out of hunger. It is estimated that
accelerate the world’s transition to clean energy that fertilizer is responsible for 50% of the world’s food.
fuels and feeds the world. Decarbonization is at the At the same time, fertilizer allows more food to be
heart of this strategy. grown on fewer acres. This reduces the amount
of land cleared for agriculture, which preserves
At our core, CF Industries is a producer of ammonia.
carbon-sequestering forests and other ecosystems,
We use the Haber-Bosch process to fix atmospheric
supporting both wildlife and plant biodiversity.
nitrogen with hydrogen from natural gas to produce
anhydrous ammo
Keyword: governance
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Our commitments position us well to meet new Our decarbonization efforts will enable us to provide
and expected regulatory changes in key regions clean energy to existing and new customers, so that
for the Company, and to provide low-carbon they, too, can decarbonize their industries. We believe
solutions for our existing customers. For example, this will allow us to grow profitably while doing good
we see growing demand from ethanol and for the environment.
sustainable aviation fuel (SAF) producers and food
Initiatives undertaken over the last three years,
and beverage companies for crops grown with
combined with activities in progress, provide us a
significantly lower life cycle GHG emissions. The use
pathway t
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
ROADMAP TO 2050 NET ZERO EMISSIONS TARGET
The Company’s path to achieving net zero emissions target by 2050 will require addressing multiple sources of greenhouse gas emissions.
The Company’s strategic focus on decarbonizing
our operations reduces our environmental impact
and enables us to produce low-carbon ammonia
Key
Scope 2 products, which strengthens our existing business
Million Tonnes
Emissions
(Mt) COe for the long-term and creates new growth
2
In-Progress
18.0 opportunities that support the global energy
transition. This relationship illustrates how the
16.0 In-Development
Company’s sustainability priorities fully align with
14.0 and are ultimately embedded into our overall
Longer-term Initiatives
corpor
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
VIABLE MARKET OPPORTUNITIES
Through the decarbonization of our operations and active industry partnerships, CF Industries is positioning itself to help decarbon-
ize hard-to-abate industries, create exciting growth opportunities for the Company and accelerate the clean energy transition.
Agriculture & Consumer Ethanol & Sustainable Hydrogen Transport Low-Carbon for Maritime Power
Packaged Goods Aviation Fuel & Storage Industrial Applications Fuel Generation
Applications
Demand for low-carbon Ammonia provides greater Interest in low-carbon Ammonia as a low-carbon Increasing end-market
Fertilizers manufactured
ethanol supporting markets hydrogen density than ammonia for industrial maritime fuel continues to be inte
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
ESG at
CF Industries
CCFF IINNDDUUSSTTRRIIEESS •• EESSGG RREEPPOORRTT 22002233 1166FOOD SECURITY,
ESG AT ENERGY, EMISSIONS OUR WORKPLACE PRODUCT STEWARDSHIP, ETHICS & COALITIONS, PARTNERSHIPS REPORTING
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Management of ESG issues at
At CF Industries, our ESG
CF Industries
priorities are fundamental to the
MANAGEMENT AND OVERSIGHT OF ESG AT CF INDUSTRIES
sustainability of our operations
Our approach to ESG is embedded across our
and business and support our business operations, and we believe every CF Industries Board of Directors
individual — from those serving on o
Keyword: governance
program, please review the Governance and Ethics Clean Energy Senior Vice President,
efforts, such as decarbonization Solutions Team Manufacturing
section.
Focuses on developing the global & Distribution
initiatives, prioritizing the health and market for ammonia produced (SLT Member)
In addition to Board oversight, CF Industries has with a lower carbon intensity by
safety of our workers, and efforts advancing our business strategy
dedicated groups, supervised by our management and our unique capabilities
to bolster Inclusion, Diversity and
team, that focus on executing our ESG vision.
Equity (ID&E) within the Company. These include our Clean Energy Solutions Team,
Clean Ammonia Site Leadership
Clean Ammonia Growth Team, Site Leadership
It also includes external efforts such G
Keyword: governance
MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
Our ESG Priorities
CF Industries identified key topic areas that On an annual basis, the ESG Steering Committee CF INDUSTRIES’ ESG DIMENSIONS AND MATERIAL TOPICS
are most relevant to the business and our assesses aggregated stakeholder feedback
stakeholders through a materiality assessment and refines material topics, as applicable. For
originally conducted in 2020. The materiality example, in 2022, we added Biodiversity to our Energy, Emissions Our Workplaces Food Security, Product Ethics &
& Climate Change & Communities Stewardship, Nature Governance
assessment was conducted through topic Food Security & Product Stewardship dimension, & Biodiversity
identification by CF Industries’ management, and in 2023, we a
Keyword: governance
Upon completion of the materiality assessment, and Ethics & Governance.
CF Industries identified 16 material topics.
The four dimensions serve as a functional Water Management Food Security
Since that original assessment, we continue to framework to help prioritize and manage
prioritize collecting and monitoring stakeholder each material topic, including identifying Product Design for
Workforce Health & Safety
Use-Phase Efficiency
perspectives and industry trends to confirm responsible teams and functions, designing
material topics and refine our ESG priorities on a relevant initiatives, and setting goals. Each
Process Safety, Emergency
Ethics
continuing basis. Our stakeholder engagement dimension also aligns with select United Nations’ Preparedness & Response
is an ongoing and multi-faceted program of Sustai
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
STAKEHOLDER ENGAGEMENT CHANNELS
CF Industries is proactive in its engagement throughout the year with various stakeholder groups. Engagement activities by stakeholder group are identified below.
Local Communities
Investors Shareholders Customers and Suppliers
▷ Investor calls/conferences ▷ Biannual outreach campaigns ▷ Regular meetings and events ▷ Open dialogue with community leaders
▷ Proxy/ESG meetings with investors ▷ Annual Shareholder Meeting ▷ Company accounts ▷ Community engagement efforts, such as
volunteering and information-sharing with
▷ Earnings calls ▷ Relationship-owner ongoing communications
▷ Annual Report local first responders
Industry Associations Civil Society and
Employees Government Officia
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MESSAGE FROM CEO ABOUT THIS REPORT OUR BUSINESS CF INDUSTRIES & CLIMATE CHANGE & COMMUNITIES NATURE & BIODIVERSITY GOVERNANCE & POLICY ENGAGEMENT & DATA
ESG Goals
OUR WORKPLACE AND COMMUNITIES
With an ESG strategy that is firmly rooted in our Core Values while also being aligned with and embedded
in our corporate strategy, we have established goals with achievable, yet challenging, milestones to guide Goal Goal Status
our Company towards a sustainable, ethical, and net-zero future. We have mapped our ESG goals to our
materiality assessment.
Create additional pathways to long-term professional growth for
traditionally underrepresented employee groups by the end of 2021 with the
In 2023, the ESG Steering Committee and Senior Leadership Team (SLT) met to review our ESG goals. As a
In Progress
result of the discussion, the Company decided to retire goals that had bee