Cummins Demonstrates How its Business and Sustainability Strategies Are Aligned, Effective in 2023-24 Sustainability Progress Report
11 Julio 2024 - 6:30AM
Business Wire
Cummins Inc. (NYSE: CMI) has published its latest annual
Sustainability Progress Report, announcing key advancements in the
company’s efforts to fulfill its mission of making people’s lives
better by powering a more prosperous world.
“This report clearly illustrates how our business and
environmental strategies are intentionally and intricately aligned
– how we are innovating for our customers to power their success,
positively impacting our communities and protecting the planet for
future generations,” said Cummins Chair and CEO Jennifer Rumsey.
“The work we are doing is our mission in action; what we’ve always
done and will continue to do.”
Significant progress was made against the company’s
environmental, social, and governance goals and aspirational
targets in 2023 and early 2024. In addition, Cummins achieved
record revenues of $31.4 billion and record operating cash flow of
$4.0 billion in 2023, reflecting the successful execution of its
product decarbonization and growth strategy, which it calls
Destination Zero.
“Our customer-driven, multi-solution approach with Destination
Zero is reflective of our commitment to sustainability and helping
our customers navigate the energy transition while growing our
business,” Rumsey continued. “It is rooted in the understanding
that a variety of technologies are required to achieve
industry-wide decarbonization across the diverse applications we
power. By advancing our core businesses as well as developing new,
zero-emissions solutions through Accelera™ by Cummins, we meet our
customers’ needs today, deliver for our stakeholders and reduce our
impact on the environment.”
To that end, the company furthered its efforts to decrease
greenhouse gas (GHG) emissions from it facilities and operations,
achieving a 31% reduction of its Scope 1 and 2 GHG emissions in
2023. Key projects that contributed to the progress include:
completing 24 onsite solar projects (66 in total) that increase use
of renewable energy and reduce over 14,486 metric tons of carbon
dioxide equivalent (CO2e) annually; and implementing 89 facility
energy efficiency projects that will save over 5,433 metrics tons
of CO₂ each year.
In the communities in which company employees live and work,
Cummins Water Works produced additional water benefits of one
billion gallons, resulting in over 6.9 billion gallons of water
benefits annually in Cummins communities. This far surpasses the
company’s global water consumption of 972.3 million gallons.
And Cummins’ strategic community initiatives have positively
impacted the people in its global communities, including:
- 1.2 million people through Cummins Water Works since the
program launched in 2021
- 4,000 graduates from Cummins TEC: Technical Education for
Communities since the program launched in 2012
- 625,122 women and girls (in 2023 alone) through its Cummins
Powers Women program
- 864 financial or technical services provided to Black-owned
enterprises through Cummins Advocating for Racial Equity (CARE)
since the program launched in 2020
That impact is amplified by employee-led community engagement.
The company intentionally identifies opportunities it can uniquely
address through the connections and skills of its global employees.
In 2023, 79% of eligible employees (61,000 total) participated in
the company’s Every Employee Every Community program, contributing
343,000 hours and serving more than 3.2 million people.
“We recognize that the health of our communities affects the
health of our people and business,” Rumsey added. “A constant
amidst this dynamic time in our industry is Cummins’ commitment to
advancing our impactful community engagement model and creating an
inclusive work environment in which people and innovation thrive.
Embedding diversity, equity and inclusion into the fabric of our
company continues to be central to this focus.”
As Cummins’ diversity has increased, so too have its innovation,
community impact and business results. It is how the company truly
wins with the power of difference. Notably, in 2023, four out of
five of Cummins’ business segments were led by women and nearly 40%
of the company’s workforce in the U.S. were People of Color.
The emphasis on DE&I starts at the very top of the company.
Cummins currently has the most diverse leadership team in its
history, and the company’s Board of Directors were awarded the
National Association of Corporate Directors 2023 DE&I
Diversity, Equity & Inclusion award for exemplary board
practices related to DE&I.
“Our company is at its best when we serve within a world and
workplace where everyone is safe, included, involved and connected
to our purpose and one another,” Rumsey concluded. “Cummins has a
long history of leveraging the capability of our leaders and the
diverse perspectives of our teams to deliver superior solutions to
our customers and communities around the world.”
The report is available on Cummins’ Sustainability Progress
Report site. Past reports can be found there, along with the
company’s 2024 Human Capital Management Report, and assurance
statements on key environmental, social and governance data in the
company’s 2023-24 report.
About Cummins Inc.
Cummins Inc., a global power solutions leader, is comprised of
five business segments – Components, Engine, Distribution, Power
Systems and Accelera by Cummins – supported by our global
manufacturing and extensive service and support network, skilled
workforce and vast technological expertise. Cummins is committed to
its Destination Zero strategy, which is grounded in the company’s
commitment to sustainability and helping its customers successfully
navigate the energy transition with its broad portfolio of
products. The products range from advanced diesel, natural gas,
electric and hybrid powertrains and powertrain-related components
including, aftertreatment, turbochargers, fuel systems, valvetrain
technologies, controls systems, air handling systems, automated
transmissions, axles, drivelines, brakes, suspension systems,
electric power generation systems, batteries, electrified power
systems, hydrogen production technologies and fuel cell products.
Headquartered in Columbus, Indiana (U.S.), since its founding in
1919, Cummins employs approximately 75,500 people committed to
powering a more prosperous world through three global corporate
responsibility priorities critical to healthy communities:
education, environment, and equality of opportunity. Cummins serves
its customers online, through a network of company-owned and
independent distributor locations, and through thousands of dealer
locations worldwide and earned about $735 million on sales of $34.1
billion in 2023. See how Cummins is powering a world that's always
on by accessing news releases and more information at
https://www.cummins.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20240711379238/en/
Jon Mills – Director, External Communications 317-658-4540
jon.mills@cummins.com
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