Eaton Showcases Substantial Progress on 2030 Sustainability Goals, on Track to Meet Several Targets Ahead of Schedule
- Company reduces GHG emissions by 27% since 2018, equivalent to the emissions nearly 60,000 gasoline-fueled cars generate in a year
- Reports 71% of 2022 net sales are from sustainable solutions
- Invests $900 million in research and development for sustainable solutions since 2020
- Achieves 75% of waste target and accelerates water target progress
Intelligent power management company Eaton (NYSE:ETN) released its 2022 Sustainability Report. The report features the company’s substantial progress toward its 2030 sustainability goals.
Eaton’s 2022 report showcases more transparency and reporting rigor than ever before, including the company’s forward-thinking approach to climate-related risks and opportunities, through its Task Force on Climate-related Financial Disclosures (TCFD) section, embedded directly into the report.
The report shows that Eaton is ahead or on pace to meet several of its targets, including:
- Carbon emissions: Reduced GHG emissions by 27% in its operations since 2018 through increased energy efficiency, energy conservation, and shifts to renewable energy.
- Sustainable solutions: Solutions that enable electrification, energy transition, electric grid resilience, increase efficiency in ground and air transportation or improve air quality represented 71% of the company’s net sales in 2022, up from 65% in 2021.
- Sustainable investments: Invested $900 million in research and development for sustainable solutions since 2020, up from $528 million in 2021.
- Water: Certified 8% of manufacturing sites as zero water discharge, focusing on sites in water-stressed areas.
- Waste: Certified 75% of manufacturing sites as zero waste to landfill, moving the company closer to its goal to certify 100% by 2030.
- Employee development: Met company employee training hours goal.
Full results can be seen on the company’s 2022 Sustainability Dashboard.
“At Eaton, we embrace the tremendous responsibility we have to act now to address climate change,” said Craig Arnold, chairman and chief executive officer, Eaton. “We continue to push forward in our journey to pursue our bold environmental, social and governance goals—and we’re making significant progress.”
“Our 2022 Sustainability Report describes in more detail than ever how we’re helping the world decarbonize electricity and optimize energy usage,” said Harold Jones, chief sustainability officer and executive vice president, Eaton Business System, Eaton. “It’s critical we keep our momentum strong to reach our targets and make good on our mission to improve the quality of life and the environment.”
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, operate sustainably, and 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 solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and society.
Founded in 1911, Eaton is marking its 100th anniversary of being listed on the New York Stock Exchange. We reported revenues of $20.8 billion in 2022 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.
