Power management company Eaton has released its 2023 Sustainability Report and a separate Global Inclusion and Diversity Transparency Report, highlighting the company's progress toward its environmental, social, and governance (ESG) goals and its efforts to foster a more inclusive workplace.
The reports come as ESG regulations are increasingly in the spotlight, with Eaton aiming to demonstrate transparency and rigor in its reporting. The company is also showcasing how a culture of inclusion can drive business success.
On the sustainability front, Eaton has made significant strides since 2018. Greenhouse gas emissions from its operations are down 31%, besting last year's 27% reduction. The company aims to cut emissions in half by 2030 through energy efficiency, conservation, and a shift to renewables.
Waste reduction is another area of progress, with 79% of manufacturing sites now certified as zero waste to landfill, up from 75% last year. Eaton is working toward a goal of 100% certification by 2030. The company has also surpassed its target of certifying 10% of manufacturing sites in water-stressed areas as zero water discharge, with 16% now meeting this standard.
Since 2020, Eaton has invested $1.3 billion in R&D for sustainable solutions, up from $900 million last year, as it works toward a goal of $3 billion by 2030. "What gets measured gets done," said Harold Jones, chief sustainability officer. "We're making significant progress toward our mission of improving life and the environment."
The Inclusion and Diversity Report reveals gains in representation, with women now making up nearly 28% of salaried positions and U.S. minorities over 24%, moving the company closer to its 2030 goals of 40% and 34%, respectively. Eaton's employee inclusion index score has risen to 77%, nearing the aspirational goal of 80%. The company has maintained strong representation of women and minorities on its board and senior leadership team.
"Inclusion and diversity strengthen our culture and workforce," said Ernest Marshall, chief human resources officer. "Our reports reflect our commitment to advancing equity and opportunity for all."
As a power management company, Eaton is focused on protecting the environment and improving quality of life while helping customers manage power. By embracing electrification and digitalization trends, the company is accelerating the transition to renewable energy.
