exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
governance processes, and clear roles,
and which should be reviewed and
responsibilities, and accountability.
addressed by the Board.
Business-level
Strong
3M serves customers through our four cybersecurity
business groups. Annually, leadership
from each business group presents to programs are
the Board, and the Board discusses and
essential, and
approves detailed long-term strategic
plans for the company, both at the we continue
area and business-group level. Each
presentation includes the following: an to invest in
overview of the business group, short-
information
and long-term financial performance
and goals, an assessment of portfolio
technology
growth opportunities, and strategic
priorities to drive our Value Model. systems and
Site-level activ
Keyword: governance
evolve, establishing appropriate governance
of poor choices. The event included a their compliance training each time
A Platforms and Strategic Transactions
bodies and partner networks to assure we
Team was created to provide greater fair, where representatives from various Through the work of a data scientist on they open certain desktop applications.
continue to drive a culture of speaking up and
focus on simplifying and automating compliance functions were stationed the Ethics & Compliance Team, we have This pop-up helped on-time online
doing business the right way. As we do so,
processes. We also established a at booths where they held interactive seen positive impacts in our reporting training course completions reach the
we will optimize opportunities to continually
dedicated
Keyword: governance
The Nominating and Governance Ratings of achievement against of the process is to align individual
compensation, recommending can demonstrate and meet those
Committee annually receives measurable targets impact the award goals and performance with business
3M provides competitive market- changes when appropriate. Any expectations through their actions
reports on the status of the Board’s values for those employees who are objectives and outcomes, creating a
based pay and comprehensive benefits. recommendations related to and interactions.
compensation in relation to other large eligible for incentive compensation. win-win situation for the employee and
In addition to a professional work compensation for 3M’s CEO are
environment that promotes innovation subject to ratif
Keyword: governance
restricted stock units (RSUs), stock 100 Nominating and Governance Committee, Prioritize and execute
options, and/or performance-based
Frederic W. Cook & Co., Inc. conducts
awards. In certain circumstances (e.g.,
a survey of director compensation at
for purposes of hiring or retaining key
other large U.S. companies and
talent), we offer grants of restricted executives were provides expert advisory support to Develop others
stock units. eligible for these the committee on the compensation and self
of non-employee directors.
As detailed in the 3M Board of benefits in 2019
Directors’ Compensation Committee
Charter, all incentive compensation including all of the named Act with integrity
and all aspects of executive executive officers.
and transparency
compensation are reviewed regularly
3M’s 2020 Notice of A
Keyword: governance
design. We see the circular economy governance is the responsibility of our materials through product design
as an opportunity to inspire leadership, Science, Technology & Sustainability and operational considerations helps 3M will partner with local communities
innovation, and disruptive change, all Committee of the Board of Directors. assure our products support the to advance water recycling and
driving impact for a sustainable future. The committee oversees the twin circular economy. conservation. Ultimately, we aim to
demands of developing products to help these communities build and
At 3M, Science for Circular is one meet the ever-changing needs of our manage their own clean water efforts
United States (nine)
of three pillars of our Strategic customers while assuring that those M
Keyword: governance
Governance The highest level of climate risk governance is the responsibility of the 3M Science, Technology & Identification Managing risk requires integrating a multidisciplinary, company-wide risk identification, assessment,
Sustainability Committee of the Board of Directors, formed in 2019 as one of four committees of the and assessment and management process. The Vice President and General Auditor, Corporate Auditing, whose
Board of Directors. The committee will oversee the twin demands of developing products to meet appointment and performance is reviewed and evaluated by the Audit Committee, is responsible for
the ever-changing needs of our customers while doing so in an environmentally responsible way. leading the formal risk assessment and management process within the company.
One of t
Keyword: governance
We believe this governance of risks by Board committees, who share information with the full Board,
and may be adversely affected by factors that are beyond our control, such as
is appropriate for a diversified technology and manufacturing company like 3M. 3M’s Annual Report
slower economic growth, disruptions in financial markets, economic downturns,
on Form 10-K, Item 1A outlines risk factors applicable to the company.
inflation, elevated unemployment levels, sluggish or uneven recovery,
government deficit reduction, natural disasters, and other factors in specific
Financial Financial opportunities include products and services, and resource efficiency. Access to
countries or regions, or in the various industries in which 3M operates.
opportunities dependable ener
Keyword: governance
social governance, and we expect the
same from our suppliers. 3M follows Acquisition Regulation (FAR) on 3M’s Vice President of Strategic may be conducted by 3M or a third based products and other plant
the Organization for Economic Co- forced labor and human trafficking. Sourcing and Packaging Solutions party to assess the supplier’s level of materials (pulp and paper), and all
operation and Development (OECD) To learn more about these topics, see (SS&PS) is accountable for 3M’s conformance with 3M’s expectations. new suppliers in higher-risk countries,
Due Diligence framework for all of our the Human rights section Responsible Sourcing program. If deficiencies are identified, they in areas such as Asia Pacific, Latin
responsible sourcing activities. The T
Keyword: governance
GRI 102: General disclosures, governance 102-35 Remuneration policies Compensation Committee Charter
Compensation 116
102-18 Governance structure Corporate governance 86 Proxy Statement, pages 11–12, 27, 42–45, and 50-71
102-19 Delegating authority Corporate governance 86 102-36 Process for determining Compensation Committee Charter
remuneration Compensation 116
102-20 Executive-level Corporate governance 86
Proxy Statement, pages 11–12, 27, 42–45, and 50-71
responsibility
for economic, 102-37 Stakeholders’ Compensation Committee Charter SDG 16
environmental, and involvement in Compensation 116
social topics remuneration Proxy Statement, pages 11–12, 27, 42–45, and 50-71
102-21 Consulting stakeholders 3M Value Model 48 SDG 16 102-38 Annual total Proxy Statement, page 89
on econom
Keyword: governance
102-22 Composition of the Corporate governance 86 SDG 5, 16 compensation ratio established process to assure our commitment to fair and
highest governance 3M Board of Directors equitable pay. The breakdown to calculate the median
body and its 3M Committee Composition percentage increase does not accurately reflect our
committees 2020 Proxy Statement, page 14–19, 36–42 workforce levels and process at 3M to assure equitable
remuneration. Additional details on our process can
102-23 Chair of the highest Michael F. Roman SDG 16 be found in Compensation and Employee programs.
governance body Chief Executive Officer 4 Compensation Committee Charter
Corporate governance 86
GRI 102: General disclosures, stakeholder engagement
102-24 Nominating and Corporate governance 86 SDG 5, 16
selecting th
Keyword: governance
e highest Nominating and Governance Committee Charter 102-40 List of stakeholder 3M Value Model 48
governance body groups
102-25 Conflicts of interest Corporate governance 86 SDG 16 102-41 Collective bargaining Human rights 106 UNGC Principle 3
Corporate Code of Conduct 98 agreements SDG 8
3M Company Code of Business Conduct and Ethics for
102-42 Identifying and 3M Value Model 48
Members of the Board of Directors
selecting stakeholders
102-26 Role of highest Corporate governance 86
102-43 Approach to 3M Value Model 48
governance body in 3M Corporate Governance Guidelines
stakeholder
setting purpose, values,
engagement
and strategy
102-44 Key topics and concerns 3M Value Model 48
102-27 Collective knowledge Corporate governance 86 SDG 4 raised
of highest governance
body GRI 1
Keyword: governance
102-28 Evaluating the highest Corporate governance 86 102-45 Entities included in the Annual Report on Form 10-K, pages 4–10 and 71–74
governance body’s Nominating and Governance Committee Charter consolidated financial About report 214
performance statements
102-29 Identifying and Corporate governance 86 SDG 16 102-46 Defining report content 3M Value Model 48
managing economic, 3M Value Model 48 and topic boundaries About report 214
environmental, and
102-47 List of material topics 3M Value Model 48
social impacts
102-48 Restatements of About report 214
102-30 Effectiveness of risk Corporate governance 86
information
management processes Enterprise risk 94
102-49 Changes in reporting About report 214
102-31 Review of economic, Corporate governance 86
environmental, and 102-50 Reporting pe
Keyword: governance
102-32 Highest governance Corporate governance 86 report
body’s role in 3M Value Model 48 102-52 Reporting cycle About report 214
sustainability reporting
102-53 Contact point for About report 214
102-33 Communicating critical Corporate governance 86 questions regarding the Sustainability@mmm.com
concerns report
102-34 Nature and total number Confidentiality constraints, this information is considered 102-54 Claims of reporting in About report 214
of critical concerns business confidential; critical concerns would be taken accordance with the
into consideration during our enterprise risk management GRI Standard
initiative: see Enterprise risk for additional information on
102-55 GRI content index Indices to GRI and UNGC 226
our mechanism used to address and resolve critical issues.
Ann
Keyword: governance
regarding operational 103-1 to Management approach Corporate governance 86
changes 103-3 disclosures Employee diversity and inclusion 70
Employee programs 120
405-1 Diversity of governance Corporate governance 86 UNGC Principle 6
bodies and employees Corporate Officers SDG 5, 8
Board of Directors
Employee diversity and inclusion 70
Employee programs 120
232 About report GRI index and UNGC 3M 2020 Sustainability Report #improvinglives 233Disclosure Page Connections to United Disclosure Page Connections to United
Description Cross-reference (hyperlinks) or direct answer Description Cross-reference (hyperlinks) or direct answer
number (.pdf) Nations Initiatives* number (.pdf) Nations Initiatives*
GRI 406: Non-discrimination GRI 413: Local communities
103-1 to Management approach Human rights 106 103-1 to Manageme
Keyword: governance
103-1 to Management approach Corporate governance 86
103-3 disclosures Lobbying and Political Activities
103-1 to Management approach Human rights 106
103-3 disclosures 415-1 Political contributions Corporate governance 86 UNGC Principle 10
Lobbying and Political Activities SDG 16
410-1 Security personnel Human rights 106 UNGC Principle 1
Political Activities and Issue Advocacy
trained in human rights SDG 16
policies or procedures GRI 416: Customer health and safety
GRI 411: Rights of indigenous peoples 103-1 to Management approach Innovation management 198
103-3 disclosures Product Safety, Quality, and Stewardship Principle
103-1 to Management approach 3M Supplier Responsibility Code
103-3 disclosures Human rights 106 GRI 417: Marketing and labeling
Suppliers 176
103-1 to Management appr
Keyword: governance
governance
management Circular materials 146 Competitive behavior Corporate Code of Conduct 98
Metric tables: historical metrics; environmental performance, water and environmental 244 Antitrust and Competition Principle
management system
Management of Environmental management 140
Waste and hazardous Environmental management 140 legal and regulatory Annual Report on Form 10-K, page 7, 13, 109–124
materials management Circular materials 146 environmental
Metric tables: historical metrics; environmental performance, waste 244
Critical incident risk 3M Value Model 48
Ecological impacts Environmental management 140 management Corporate governance 86
Circular materials 146 Enterprise risk 94
Climate and energy 160 Environmental management 140
Suppliers 17
Keyword: bribe
• Avoiding Bribery and Corruption:
oversees 3M’s compliance efforts department is staffed with compliance acquisitions, equity investments,
A Global Overview
to assure that 3M has an effective professionals stationed around the and candidates for hiring and
and world-class compliance world. The vice president and chief promoting • Understanding Global Competition
program — one that is agile and ethics & compliance officer reports • Investigation expertise • Preventing Workplace Harassment
anticipates changes in the external directly to the Audit Committee
• Incentives and discipline to address • 3M Code of Conduct and Ethical
landscape and internal business of the 3M Board of Directors.
compliance successes and failures Decision-Making
strategy. The Business
Keyword: bribe
bribery laws. The program consists of: factors to prioritize topics and timing occurs as part of an annual schedule,
of deployment. while other training occurs as requested
• A core set of business conduct or when deemed appropriate.
principles Online courses
• Education and training are offered in
• Periodic evaluations, audits, risk 22
assessment, and procedures to
measure and assess the compliance
program’s effectiveness
languagesFeature stories Who we are How we work What we create About report 3M 2021 Sustainability Report | #improvinglives 98
Reporting concerns: The Ethics & Compliance Department The Ethics & Compliance Department
has the responsibility to review every maintains the investigation case
“Speak Up”
business conduct concern that
Keyword: bribe
anti-bribery evaluations in various reinforce the importance of operating in
3M subsidiaries and operating units an ethical, compliant manner.
each year. An evaluation includes
a review of financial transactions,
compliance records, interviews with
representatives from a cross-section
of employees of the entity being
evaluated, and reviews of selected
business partners.
!諱不言直
3M Ethics & Compliance
ROZMAWIAJ Z NAMI!
Speak up!
Speak up.
Ask a question.
Be 3M Raise a concern.
Go to 3MEthics.com
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tim
eiS
nehcerpS
Spregovori
etnematrepa
alraP
отыркто
ировоГ
irovogorP NIRËZ
EJIRGN
¡ HAZLO SABER!
suov-zemirpxE
非倫理的な行動 - 報告する義務があります。
Vorbeste
ΜΙΛΗΣΤΕ ΑΝΟΙΧΤΑ Pozovite
อย่าละเลยไม่รายงานพฤติกรรมผิดจรรยาบรรณ
!elaF
!tu
alaT
Çekinme Söyle!
直言不讳! Высказывайте со
Keyword: bribe
anti-bribery laws, including the 3M Legal Affairs on due-diligence
U.S. Foreign Corrupt Practices processes related to potential ethics and compliance
As a participant in the United Nations
Act, the U.K. Bribery Act, Brazil’s equity investments and mergers and expectations
Global Compact (UNGC), 3M is
Clean Company Act, and local acquisitions. These processes help
committed to supporting Principle 10
laws where 3M operates. It applies identify risks in the target company
on Anti-Corruption. Our commitment To enhance our communications
to 3M employees as well as to before an acquisition or investment
and involvement with the UNGC and with and expectations of third parties,
our business partners. In addition, is initiated and accelerate our efforts
our c
Keyword: bribe
3M’s Anti-Bribery Principle and to integrate an acquired company’s
provides us with the opportunity to a brochure for our business partners,
anti-bribery policies and procedures employees into 3M’s compliance
collaborate and share best practices available in 30 languages. The
have been communicated to all program and culture. Ultimately, the
related to work against corruption in all brochure provides another way for
employees. Our Avoiding Bribery Ethics & Compliance Department is
its forms. Additionally, the compliance 3M to communicate with our business
and Corruption training is required charged with conducting a risk
professionals on our team regularly partners regarding our commitment
of most non-production employees, review and implementing any
partic
Keyword: bribe
ipate, present, and are members to combat global bribery.
specifically employees in higher-risk necessary remediation activities
of organizations and associations
roles, including those in legal, audit, upon the closing of every acquisition. Michael Duran, 3M vice president
working to improve compliance
sales, marketing, export, and global and chief ethics & compliance officer,
controls and reduce legal risk.
trading. The vice president and chief says, “Our commitment to unwavering
ethics & compliance officer provides integrity in all that we do is clear and
quarterly updates on compliance stems from the top of our organization.
activities to the Audit Committee It has been the foundation of the
“Our commitment
of the Board of Directors and the company for more than a century.
3M Business Conduc
Keyword: bribe
Corrupt Practices Act and other anti-bribery and anti-corruption laws, and other matters. The outcome of these
legal proceedings is often difficult to reliably predict. For a more detailed review of this topic, see the discussion
in Note 16 “Commitments and Contingencies” within the Notes to Consolidated Financial Statements in the
company’s Annual Report on Form 10-K.
Market Results are impacted by the effects of, and changes in, worldwide economic, political, regulatory, international
trade, and other external conditions. 3M operates in more than 70 countries and derives approximately 60% of its
revenues from outside the United States. The company’s business is subject to global competition and geopolitical
risks that are beyond its control, such as disruptions in financial markets
Keyword: bribe
(no child labor), and appropriate bribery and corruption, and prevent
sourcing activities reports to the while safeguarding the health and
working hours and wages. Setting conflicts of interest.
vice president of SS&PS. Executive safety of workers and the public.
these expectations helps assure
• Management systems. We expect leaders of departments (including Additional information can be found
our suppliers’ actions will reflect
our suppliers to establish processes EHS, Ethics & Compliance, Corporate at 3M Supplier Direct.
3M’s values on human rights as
to systematically conform to Auditing, Strategic Sourcing, Legal,
well as the values underlying the
the 3M SRC, as well as all legal Sustainability, and Human Resources) Our general supplier performance
International Labour Organi
Keyword: bribe
reflected on topics such as global bribery and
across the organization.
corruption awareness; eliminating
3.31%
For more information on our Supplier forced labor, slavery, and human
Diversity initiative, see Supplier Diversity. trafficking from the global supply
chain; and preventing corruption
and mitigating compliance risk for
of our total U.S. spend. distributors and business partners.Feature stories Who we are How we work What we create About report 3M 2021 Sustainability Report | #improvinglives 170
Supplier partnership Responding to risks Supplier locations
during COVID-19 and transforming
our supply chains
During the pandemic, 3M increased our
global output of key products to support
We are constantly managing changes
increased demand, which increased the
in supply markets,
Keyword: corruption
voluntary steps to prevent corruption,
creating a more ethical, transparent,
and honest business environment.
3M Brazil was recognized for top
management’s commitment to ethics,
their policies and procedures, and
their risk monitoring and analysis.
In October 2020, Forbes and JUST
Best Places to Work Capital listed 3M as one of America’s
Most Just Companies in 2021. Forbes
for LGBTQ Equality
and JUST Capital evaluate the
1,000 largest public U.S. companies
Human Rights Campaign Foundation’s
The World’s Most Ethical Companies® on issues that matter most to the
2020 Corporate Equality Index is
program, managed by the Ethisphere® American public — like paying a
the national benchmarking tool on
Institute, honors companies that fair wage, upholding human rights
corporate policies
Keyword: corruption
environment, and anti-corruption.
with agility — from our significant business — by continuing to make bold
We align this report to the guidelines
expansion of respirator production sustainability commitments and taking
of the Sustainability Accounting
to our ability to maintain business stronger actions.
Standards Board (SASB) and the Task
continuity and serve customers. to advance workforce
3M has a long-standing commitment to Force for Climate-related Financial
development and
sustainability, from our groundbreaking Disclosures (TCFD) recommendations
STEM education
Pollution Prevention Pays program for helping businesses disclose
that began in 1975 to our increasingly climate-related financial information. initiatives.
In 2020, we took ambitious set of 2025 Sustainabil
Keyword: corruption
• Avoiding Bribery and Corruption:
oversees 3M’s compliance efforts department is staffed with compliance acquisitions, equity investments,
A Global Overview
to assure that 3M has an effective professionals stationed around the and candidates for hiring and
and world-class compliance world. The vice president and chief promoting • Understanding Global Competition
program — one that is agile and ethics & compliance officer reports • Investigation expertise • Preventing Workplace Harassment
anticipates changes in the external directly to the Audit Committee
• Incentives and discipline to address • 3M Code of Conduct and Ethical
landscape and internal business of the 3M Board of Directors.
compliance successes and failures Decision-Making
strategy. The Business Conduct The Au
Keyword: corruption
anti-corruption awareness of 3M
anti-bribery laws, including the 3M Legal Affairs on due-diligence
U.S. Foreign Corrupt Practices processes related to potential ethics and compliance
As a participant in the United Nations
Act, the U.K. Bribery Act, Brazil’s equity investments and mergers and expectations
Global Compact (UNGC), 3M is
Clean Company Act, and local acquisitions. These processes help
committed to supporting Principle 10
laws where 3M operates. It applies identify risks in the target company
on Anti-Corruption. Our commitment To enhance our communications
to 3M employees as well as to before an acquisition or investment
and involvement with the UNGC and with and expectations of third parties,
our business partners. In addition, is initiated and
Keyword: corruption
related to work against corruption in all brochure provides another way for
employees. Our Avoiding Bribery Ethics & Compliance Department is
its forms. Additionally, the compliance 3M to communicate with our business
and Corruption training is required charged with conducting a risk
professionals on our team regularly partners regarding our commitment
of most non-production employees, review and implementing any
participate, present, and are members to combat global bribery.
specifically employees in higher-risk necessary remediation activities
of organizations and associations
roles, including those in legal, audit, upon the closing of every acquisition. Michael Duran, 3M vice president
working to improve compliance
sales, marketing, export, and global and chief ethics &
Keyword: corruption
3M’s commitment to anti-corruption
integrity in all proud to work for a company that puts
is also reflected in our management
ethics and compliance at the forefront
that we do is of third-party intermediaries of everything we do.”
and other business partners. 3M
clear and stems conducts due-diligence reviews
of our third parties based on an
from the top of
assessment of risk factors, including
our organization.” transaction size, type of relationship,
government interactions, and
geography. Depending on the
Michael Duran outcome of the review, we respond
3M Vice President and Chief Ethics to any identified risks with specific
& Compliance Officer actions, such as training, the inclusion
of relevant contractual terms, and
other risk-mitigating controls.
3M may end a relation
Keyword: corruption
and corruption risks.Feature stories Who we are How we work What we create About report 3M 2021 Sustainability Report | #improvinglives 104
Looking
forward
In 2021, ethics and compliance
will remain at the core of what we
do for our employees, customers,
communities, and shareholders.
Data analysis will remain a focus to
drive efficiencies and prioritize our
actions with more agility. We will
continue to empower global leadership
to take ownership of key performance
indicators by providing access to
tools and metrics.
The Ethics & Compliance Department
will continue the evolution of our
compliance partner networks to drive
a culture of compliance, speaking
up, and doing business the right way.
Additionally, we will continue our
collaboration and coordina
Keyword: corruption
and within 3M’s Employee Obligations Convention against Corruption which can be used to raise a concern
and Reporting Principle. regarding any adverse human rights
impacts. We also comply with all
In addition, we conduct audits
In our view, applicable laws and honor the principles
of site, workplace, and human
of internationally recognized human
human rights due resource practices, and we conduct
rights when faced with conflicting
assessments and audits of suppliers
requirements.
diligence requires to assure compliance with 3M’s
expectations related to labor
a holistic approach.
practices. See the Suppliers section
for more details.Feature stories Who we are How we work What we create About report 3M 2021 Sustainability Report | #improvinglives 109
Assessing human rights
Our assessment of human rights
ali
Keyword: corruption
Corrupt Practices Act and other anti-bribery and anti-corruption laws, and other matters. The outcome of these
legal proceedings is often difficult to reliably predict. For a more detailed review of this topic, see the discussion
in Note 16 “Commitments and Contingencies” within the Notes to Consolidated Financial Statements in the
company’s Annual Report on Form 10-K.
Market Results are impacted by the effects of, and changes in, worldwide economic, political, regulatory, international
trade, and other external conditions. 3M operates in more than 70 countries and derives approximately 60% of its
revenues from outside the United States. The company’s business is subject to global competition and geopolitical
risks that are beyond its control, such as disruptions in financial markets, economic downturns
Keyword: corruption
(no child labor), and appropriate bribery and corruption, and prevent
sourcing activities reports to the while safeguarding the health and
working hours and wages. Setting conflicts of interest.
vice president of SS&PS. Executive safety of workers and the public.
these expectations helps assure
• Management systems. We expect leaders of departments (including Additional information can be found
our suppliers’ actions will reflect
our suppliers to establish processes EHS, Ethics & Compliance, Corporate at 3M Supplier Direct.
3M’s values on human rights as
to systematically conform to Auditing, Strategic Sourcing, Legal,
well as the values underlying the
the 3M SRC, as well as all legal Sustainability, and Human Resources) Our general supplier performance
International Labour Organization
requirem
Keyword: corruption
corruption awareness; eliminating
3.31%
For more information on our Supplier forced labor, slavery, and human
Diversity initiative, see Supplier Diversity. trafficking from the global supply
chain; and preventing corruption
and mitigating compliance risk for
of our total U.S. spend. distributors and business partners.Feature stories Who we are How we work What we create About report 3M 2021 Sustainability Report | #improvinglives 170
Supplier partnership Responding to risks Supplier locations
during COVID-19 and transforming
our supply chains
During the pandemic, 3M increased our
global output of key products to support
We are constantly managing changes
increased demand, which increased the
in supply markets, both where there
demand on key raw mater
Keyword: corruption
• Presentation of a complete and fair transparency and the ability to anti-corruption. In 2014, we became a In this year’s report, we detail our efforts
picture in the report as a whole compare results from one organization United Nations Global Compact (UNGC) on our 2020 materiality assessment.
to another. 3M has developed this participant, thereby committing to align Before conducting this assessment,
Third-party verification. APEX
report using GRI Standards. The GRI our operations and strategies with the we reviewed and integrated SASB’s
Companies, LLC [“Assurance Provider”
index outlines where specific GRI UNGC principles on business and human approach to materiality and materiality
or “APEX”] provided independent
reporting elements and indicators rights. This report includes an index of map to help prioritize the most
Keyword: corruption
GRI 205: Anti-corruption
103-1 to Management approach disclosures Corporate Code of Conduct 96
103-3
205-1 Operations assessed for risks related to corruption Corporate Code of Conduct 96 UNGC Principle 10
SDG 16
205-2 Communication and training about anti-corruption policies Corporate Code of Conduct 96 UNGC Principle 10
and procedures SDG 16
205-3 Confirmed incidents of corruption and actions taken Corporate Code of Conduct 96 UNGC Principle 10
SDG 16
GRI 206: Anti-competitive behavior
103-1 to Management approach disclosures Corporate Code of Conduct 96
103-3 Antitrust and Competition Principle
206-1 Legal actions for anti-competitive behavior, antitrust, Antitrust and Competition Principle SDG 16
and monopoly practices Annual Report on Form 10-K, pages 111-129
Keyword: tax
with all applicable tax laws, rules,
make efforts to give our shareholders
regulations, and reporting and
useful information about our public
disclosure requirements through
policy engagement. Since 2007, we
the implementation of standardized,
have voluntarily published a detailed
simplified, cost-effective and
explanation of the company’s political
automated compliance processes.
activities in our Lobbying and
This means paying the right amount
Political Activities Principle. Within
of tax in the right place at the right
the Lobbying and Political Activities
time and involves disclosing all
Governance document, we provide
relevant facts and circumstances
links to the reports the 3M Political
to the tax authorities and claiming
Action Committee files monthly with
Keyword: tax
applicable tax legislation.
Disclosure reports, as well as a
detailed list of our contributions to U.S.
In addition, 3M’s tax strategy is
state candidates and political parties
consistent with the principles set
and contributions to “527” political
forth in 3M’s Code of Conduct:
organizations. We also disclose the
Diversity of the Board Public policy
trade associations 3M has joined in • Be Good: Obey the law and
engagement which $25,000 or more of the dues 3M's Code of Conduct
For 3M, diversity, in its myriad
are allocated for lobbying purposes
manifestations, is fundamental • Be Honest: Act with honesty
As a concerned member of our by the trade association. We believe
to innovation, performance, and and integrity
communities, 3M actively participates t
Keyword: tax
and governance arrangements in 3M’s taxes are delegated to the
relation to taxation tax manager responsible for the
respective region/country. Processes
At the highest level, responsibility relating to various taxes are allocated
for taxes resides with 3M’s Global to the relevant process owners
Tax Department based in 3M’s responsible for executing tax
headquarters in the United States. compliance controls. Appropriate
The vice president for tax and real training is carried out for staff who
estate reports to 3M’s senior vice manage or process matters that
president and chief financial officer have tax implications.
and is a member of 3M’s Finance
Committee. The Tax Operating Transactions between 3M companies
Committee, under the leadership are conducted on an arms-length
Attitude
Keyword: tax
to tax planning with tax authorities
tax and real estate, has oversight transfer pricing rules. This ensures
over the material tax matters of 3M’s 3M’s profits are taxed where
3M engages in tax planning that is We strive to have an open, honest,
worldwide business and supply chain. economic activities are performed.
aligned with its commercial business and collaborative working relationship
activities or supply chain needs and with tax authorities. 3M assures
3M assures the appropriateness of Where there are any areas of
in compliance with tax rules and that specific tax authorities are kept
its accounting and tax records on an uncertainty, 3M engages its external
regulations. 3M may engage in tax aware of significant transactions and
ongoing basis to enable us to
Keyword: tax
perceived as tax planning. We do not discuss any tax issues arising at an
and confirm with the respective
country authorities in which we operate. Reporting concerns engage in artificial tax arrangements early stage.
that lack economic substance, one
As with all instances of unethical or of the main purposes of which would When submitting tax computations
unlawful behavior, we encourage be to obtain a tax advantage. We may, and returns to country tax authorities,
our employees to ask questions or however, evaluate potential economic 3M discloses all relevant facts and
Appropriate report concerns to management, 3M’s options resulting from business identifies any transactions or issues
Ethics & Compliance Department, 3M transactions with consideration where it considers that there is
training
Keyword: tax
is carried legal counsel, 3MEthics.com, their of tax efficiency. potential for the tax treatment to be
assigned human resources manager, uncertain. We recognize that there
out for staff who
3M Corporate Audit Department, or Level of risk in relation to taxation that could be areas of differing legal
the Audit Committee of the Board 3M Company is prepared to accept interpretations between 3M and tax
manage or process
of Directors. For information on authorities, and where appropriate, we
matters that have reporting concerns about unethical or Our approach to tax risk follows will engage in proactive discussion to
unlawful behavior, see the Corporate similar principles that apply to our bring matters to as rapid a conclusion
tax implications. Code of Conduct section. management of legal, compliance, as possible. Any inadverten
Keyword: tax
and other business risks. Our internal the submission of tax returns and tax
framework operates to support computations are fully disclosed as
compliance with tax laws and soon as reasonably practicable after
regulations to ensure we identify, they have been identified.
assess, and mitigate tax risks.Feature stories Who we are How we work What we create About report 3M 2021 Sustainability Report | #improvinglives 87
Our actions To perform as such, the Board will Board refreshment During 2020, members of senior
be composed of individuals who have management met with a cross-section
distinguished records of leadership We regularly add directors to infuse of shareholders owning approximately
Board membership and success in their arena of activity new ideas and fresh perspectives 33% of our outstanding shares
and who w
Keyword: tax
GRI 207: Tax
103-1 to Management approach disclosures Corporate governance 83
103-3
207-1 Approach to tax Corporate governance 83 SDG 1, 10, 17
207-2 Tax governance, control, and risk management Corporate governance 83 SDG 1, 10, 17
207-3 Stakeholder engagement and management of concerns Corporate governance 83 SDG 1, 10, 17
related to tax
GRI 302: Energy
103-1 to Management approach disclosures Climate and energy 151
103-3
302-1 Energy consumption within the organization Climate and energy 151 UNGC Principle 7, 8
Metric tables: 3M historical metrics, environmental footprint; 222 SDG 7, 8, 12, 13
environmental performance, energy
302-2 Energy consumption outside of the organization Climate and energy 151 UNGC Principle 8
Metric tables: environmental pe
Keyword: tax
Provision for income taxes Million $USD 2,000 2,680 1,640 1,130 1,320 16.8 -34.0
1 A mounts for operating income; research, development, and related expenses; and total operating expenses were reclassified back to 2015 to reflect the adoption of an accounting standard (ASU No. 2017-07,
Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost) effective January 1, 2018, on a retrospective basis.2019-2020 2016-2020
Metric Tables Metric units RY-2016 RY-2017 RY-2018 RY-2019 RY-2020 Annual Five-year
change, % change, %
ytinummoC tnemegagne
Total global giving Million $USD 67.3 73.5 66.3 73.3 87.9 19.9 30.6
Total cash donations Million $USD 34.8 35.9 35.6 32.4 57.8 78.4 66.1
Total in-kind donations Million $USD 32.5 37.6 30.7 4
Keyword: governance
Message from governance 83
Site spotlights 33 Our Vision 41 Innovation
our CSO 5 GRI and
Enterprise risk 92 management 184
Our Values 41 UNGC index 205
Corporate Our products 194
Our Strategic SASB index 216
Code of Conduct 96
Sustainability
Assurance
Framework 42 Human rights 105
statement 219
Advancing impact 53 Compensation 113
Metric tables 222
Communities 59 Employee
programs 117
Employee
diversity, equity, Environmental,
and inclusion 69 health, and safety
management 128
Recognition 78
Circular materials 139
Climate and energy 151
Suppliers 166Feature stories Who we are How we work What we create About report 3M 2021 Sustainability Report | #improvinglives 3
A message from
Mike Roman
The last year has brought extraordinary We are committed to being leaders
Keyword: governance
Violations of Respect for human rights and workplace safety is deeply ingrained Corporate governance Drive supply chain sustainability
human rights in our culture. 3M’s approach to managing and assuring human through targeted raw material
Human rights
rights, workplace safety, and well-being within our workplace traceability and supplier
and supply chain is derived from the 3M Code of Conduct. EHS management performance assurance by 2025.
We implement these programs through our global policies,
Suppliers Provide training to five million people
management systems, assessments, audits, training, and metrics 8.7, 8.8
globally on worker and patient safety
Ethical tracking. 3M Code of Conduct
by 2025.
business, At 3M, we set a high bar for our company regarding environmental Supplier Responsibility Code
safe working and social governance, and
Keyword: governance
Advocating laws 3M advocates for environmental policies and regulations that Corporate governance
and supporting are guided by science-based decision-making and encourages Climate and energy
the adoption and implementation of innovative solutions.
sustainability
Lobbying and Political Activities
Governance
17.14
1 2019 is the baseline measurement year.
2 Expands our previous commitment, which aimed to reduce water use by 10% between 2015 and 2025.
3 Established in 2021.
4 E xpands our previous 2025 goal to stay below 50% of our 2002 baseline, meaning 3M’s 2030 Scope 1
and 2 emissions will now be reduced more than 85% from 2002 levels.
5 2020 is the baseline measurement year.
6 Established in 2020 to drive trend and trajectory progress over time.
7 2021 establishing baseline measurement year. 3M defines underrepresented individuals in t
Keyword: governance
in our community. Governance is In 2020, 3M’s community needs of our local communities through
provided by the 3M Foundation commitment included cash and charitable support of hometown
Board of Directors and Corporate product donations to assist in the needs. Cash, in-kind investments, and
Contributions Committee, which global fight against COVID-19 and employee engagement remain at the
is comprised of senior-level to support basic human needs in core of both 3M and 3M Foundation
company executives. communities where 3M operates. strategies. Since 1953, 3M and 3M
Foundation have invested $1.81 billion
in cash and product contributions in
communities where 3M operates.Feature stories Who we are How we work What we create About report 3M 2021 Sustainability Report | #im
Keyword: governance
by the World Business Council for social, and governance performance.
Sustainable Development (WBCSD) 3M has made the ranking each year
recognized 3M for its good practice since 2009.
of strategy in our annual Sustainability
EcoVadis awarded 3M a Gold
Report: “3M presents a strategic TIME Best
Recognition Level for achievements in
sustainability framework that is
the 98th percentile of suppliers assessed Inventions 2020
broken down into three overarching
in corporate social responsibility (CSR) 3M earned best-in-class ranking for risk
pillars in its 2020 Sustainability Report.
in global supply chains. management around environmental 3M was recognized in TIME Magazine’s
It clearly demonstrates how material
and social areas of concerns by list of Best Inventions of 2020 in the
FTSE4Good Index Seri
Keyword: governance
social, and governance (ESG) practices.
The FTSE4Good indices are used by category for the
a wide variety of market participants
to create and assess responsible Post-it® Flex
investment funds and other products.
Write Surface.Feature stories Who we are How we work What we create About report 3M 2021 Sustainability Report | #improvinglives 80
Woman Engineer Derwent Top 100 Global
Magazine Innovators™ 2020
3M was ranked No. 5 on Woman The Derwent methodology examines
Engineer Magazine’s Top 50 an organization’s patent portfolio
Employers for 2020. strength and quality, assessing not
just volume of filed patents but the
Latina Style Award number of citations to a company
or institution, proportion of patent
In September 2020, 3M was selected applications submitted
Keyword: governance
Corporate governance 83
Enterprise risk 92
Corporate Code of Conduct 96
Human rights 105
Compensation 113
Employee programs 117
Environmental, health,
and safety management 128
Circular materials 139
Climate and energy 151
Suppliers 166Feature stories Who we are How we work What we create About report 3M 2021 Sustainability Report | #improvinglives 82
How we
work
Just as sustainability is embedded Throughout 2020, we worked
throughout our Value Model, differently due to COVID-19, but
sustainable thinking is embedded into sustainability remained in focus. It was
the core of 3M and in the strategic a year where we expanded on Science
planning process we use for every for Community as we collaborated
business. In each of our business in new ways with other compan
Keyword: governance
governance
Our 3M’s Board of Directors oversees
the CEO and senior management and
commitment assures that appropriate procedures
and controls are in place covering
management’s activities in operating
3M believes that good corporate the company on ethical grounds on a
governance practices serve the day-to-day basis.
long-term interests of shareholders,
strengthen the Board and
management, and further enhance
the public trust 3M has earned from
More than a century
more than a century of operating with
uncompromising integrity and doing of operating with
business the right way.
uncompromising
Our corporate governance principles
govern how we do business daily, integrity has earned
enabling us to outperform and lead
3M trust from our
the way to sustaina
Keyword: governance
adopted Corporate Governance structure is characterized by:
Guidelines which provide a framework
for the effective governance of the • A combined Chairman of the Board
company. The guidelines address and CEO
matters such as the respective roles • A strong, independent, and highly
and responsibilities of the Board and experienced lead director with
management, the Board’s leadership well-defined responsibilities that
structure, the responsibilities of the support the Board’s oversight
lead independent director, director responsibilities
independence, the Board membership
• A robust committee structure
criteria, Board committees, and
consisting entirely of independent Board’s role in 3M’s Code of Conduct
Board and management evaluation.
directors with oversight of vario
Keyword: governance
Governance Committee is responsible
long-term strategy
for overseeing and reviewing the • An engaged and independent Board with uncompromising integrity has
earned 3M trust from our customers,
guidelines, at least annually, and
recommending any proposed changes The Board believes that this leadership Each year, management presents credibility with our communities,
to the Board for approval. The structure provides independent to the Board, and the Board discusses and dedication from our employees.
Corporate Governance Guidelines, Board leadership and engagement and approves detailed long-term And for the eighth year in a row,
Certificate of Incorporation and while deriving the benefits of having strategic plans for the company. 3M has been recognized
Keyword: governance
framework for the governance of in-depth knowledge and understanding Goals, and environmental, social, Ethics for Members of the Board
the company and are available on of the company, the CEO is best and governance (ESG) metrics, the of Directors incorporates the long-
our website at www.3M.com, under positioned to chair regular Board discussions also focused on breakout standing principles of conduct 3M
Investor Relations — Governance. meetings as the directors discuss key sessions with the directors on strategic and the Board follow to assure the
business and strategic issues. Coupled plans and priorities for each of the company’s business and the activities
with the lead independent director, four business groups. of the Board are conducted with
this combined struc
Keyword: governance
Governance document, we provide
relevant facts and circumstances
links to the reports the 3M Political
to the tax authorities and claiming
Action Committee files monthly with
reliefs, incentives, and exemptions
the U.S. Federal Election Commission
in line with and in the spirit of the
and the company’s quarterly Lobbying
applicable tax legislation.
Disclosure reports, as well as a
detailed list of our contributions to U.S.
In addition, 3M’s tax strategy is
state candidates and political parties
consistent with the principles set
and contributions to “527” political
forth in 3M’s Code of Conduct:
organizations. We also disclose the
Diversity of the Board Public policy
trade associations 3M has joined in • Be Good: Obey the law and
engagement which $25
Keyword: governance
and governance arrangements in 3M’s taxes are delegated to the
relation to taxation tax manager responsible for the
respective region/country. Processes
At the highest level, responsibility relating to various taxes are allocated
for taxes resides with 3M’s Global to the relevant process owners
Tax Department based in 3M’s responsible for executing tax
headquarters in the United States. compliance controls. Appropriate
The vice president for tax and real training is carried out for staff who
estate reports to 3M’s senior vice manage or process matters that
president and chief financial officer have tax implications.
and is a member of 3M’s Finance
Committee. The Tax Operating Transactions between 3M companies
Committee, under the leadership are conducted