Data & Frameworks

Reporting Our Progress

Our annual Sustainability Report aligns with leading sustainability reporting frameworks.

Global Reporting Initiative (GRI): The GRI Standards are fundamental to our reporting process. This report has been prepared in accordance with the GRI Standards. See our GRI Content Index for an overview of disclosures on our material sustainability topics.

Sustainability Accounting Standards Board (SASB): As a diversified manufacturer, we report to both the Electric & Electronic Equipment and the Industrial Machinery & Goods industries. See our SASB content index for details.

Task Force on Climate-related Financial Disclosures (TCFD): We strongly support TCFD through supporter sign-on and align with the Task Force’s voluntary disclosures. See our TCFD content index for details.

World Economic Forum (WEF) Stakeholder Capitalism Metrics: We disclose our performance against the WEF’s Stakeholder Capitalism Metrics to demonstrate our performance on sustainability topics and contributions to the United Nations Sustainable Development Goals. See our WEF content index for details and read more about our alignment with the United Nations Sustainable Development Goals.

CDP: We voluntarily respond to the CDP questionnaire to disclose environmental impacts, risks and opportunities, as well as performance data. See our 2024 CDP Response.

United Nations Global Compact (UNGC): We align our operations and strategy with the universally accepted Ten Principles outlined by UNGC in the areas of human rights; Environment, Health and Safety; and anti-corruption. See our Global Compact status. 

About Our Data

GRI 2-4, 2-5

Throughout this report, we define our organizational boundary using the financial control approach and report on Scope 1 and 2 greenhouse gas (GHG) emissions using the GHG Protocol. We believe this most accurately reflects the direct impact of our operational footprint. Our company’s Scope 3 product-related emissions are those emissions associated with the product-use phase and cover the majority of revenue associated with our diverse product portfolio. For data associated with our company’s 2030 Gigaton Challenge commitment, heating and cooling output is normalized for growth to capture product performance improvements. 

We report data from newly opened and acquired facilities as soon as valid data is available. For recently closed or sold facilities, the data is included for the time period a site was part of our company to ensure year-over-year comparisons remain consistent. As such events occur, baselines are adjusted to account for these operating footprint changes. As our data collection system continues to mature and improve, the operational data we report improves in accuracy and expands in breadth. Additionally, the formula to calculate our Gigaton Challenge contribution is reviewed on an annual basis and refined as needed to include items that were not able to be measured previously.

We present data in absolute terms and normalize it by our revenue (intensity). Our safety data is normalized by the number of hours worked. Data presented represents the reporting period from January 1, 2024 to December 31, 2024, unless otherwise noted and aligns with our financial statement reporting period.

We receive limited assurance from an independent third party on an annual basis for select environmental, health and safety (EHS) and GHG emissions data, including purchased goods and services emissions data and product use emissions data. View the results in our 2024 Limited Assurance Report.

Forward-Looking Statements

This report contains certain forward-looking statements, which are statements that are not historical facts, including statements regarding our 2030 Sustainability Commitments; our pathway to net-zero by 2050; our sustainability targets, goals, commitments and programs; our product and service innovations; and other business plans, initiatives and objectives. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. These forward-looking statements generally are identified by the words “aim,” “believe,” “project,” “dedicate,” “expect,” “commit,” “estimate,” “propose,” “forecast,” “intend,” “strategy,” “invest,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or variations thereon, or similar terminology generally intended to identify forward-looking statements.

All such statements are intended to enjoy the protection of the safe harbor for forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Our actual future results, including the achievement of our targets, goals or commitments, could differ materially from our projected results as a result of changes in circumstances, assumptions not being realized or other risks, uncertainties and factors. Such risks, uncertainties and factors include the risk factors discussed in Item 1A of our most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the SEC. We urge you to consider all the risks, uncertainties and factors identified above or discussed in such reports carefully in evaluating the forward-looking statements in this report. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events and how they may affect our company. We assume no obligation to update these forward-looking statements.