Company reduces GHG emissions 16% since 2018, equivalent to the emissions more than 30,000 cars generate in a year
Sustainable solutions represented nearly two thirds of 2021 net sales
Invested $528 million in research and development for sustainable solutions since 2020
More than halfway to water and waste reduction targets four years ahead of schedule
DUBLIN, June 30, 2022--(BUSINESS WIRE)--As part of its ongoing focus on transparency, intelligent power management company Eaton (NYSE:ETN) today released two reports featuring the company’s progress in meeting its 2030 sustainability goals.
Eaton’s 2021 Sustainability Report highlights efforts toward achieving the company’s science-based greenhouse gas reduction (GHG) targets, its commitment to become carbon neutral by 2030 and other sustainability initiatives. Eaton’s 2022 Task Force on Climate-related Financial Disclosures (TCFD) Report details Eaton’s forward-thinking approach to climate-related risks and opportunities.
The reports show Eaton is ahead or on pace to meet many of its targets, including:
GHG reduction: Reduced GHG emissions 16% since 2018, keeping company on track to meet approved science-based target and in line with limiting global warming to 1.5°C.
Sustainable solutions: Solutions that enable electrification, energy transition, electric grid resilience, increase efficiency in ground and air transportation and improve air quality represented 65% of the company’s net sales in 2021.
Sustainable investments: Invested $528 million in research and development for sustainable solutions since 2020.
Zero water discharge: Certified more than half of manufacturing sites included in 2030 goal in first full year of new zero water discharge initiative. Focused on sites in water stressed areas.
Zero waste to landfill: Certified 65% of manufacturing sites as zero waste to landfill, with a goal to certify 100% by 2030.
Employee development: Met 2021 company employee training hours goal.
Full results can be seen on the company’s 2021 Sustainability Dashboard.
"In these external reports, we’re pleased to report our progress toward our 2030 sustainability goals," said Craig Arnold, chairman and chief executive officer, Eaton. "They demonstrate our commitment to delivering sustainable solutions to the world and the significant progress we have made over the last few years."
"These reports highlight how we’re helping decarbonize electricity and optimize energy usage for our customers around the world, and at home in our own operations," said Harold Jones, chief sustainability officer and executive vice president, Eaton Business System, Eaton. "This critical work is all in service of our mission and core to the fabric of our organization."
Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.
Founded in 1911, Eaton has been listed on the NYSE for nearly a century. We reported revenues of $19.6 billion in 2021 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.
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Margaret Hagan, +1 (440) 523-4343