Eaton Making Significant Progress on Sustainability Targets and I&D Journey as Outlined in Two New Publications

• Company reduces GHG emissions 31% since 2018
• Achieves 79% of waste target and surpasses water target
• Invests $1.3 billion in research and development for sustainable solutions since 2020
• Makes business case for inclusion and demonstrates impact through data

DUBLIN--(BUSINESS WIRE)-- Intelligent power management company Eaton (NYSE:ETN) released its 2023 Sustainability Report and standalone Global Inclusion and Diversity Transparency Report today. The publications feature the company’s progress toward its 2030 environmental, social and governance (ESG) targets and in creating an inclusive workplace.

As the ESG regulatory landscape continues to evolve, Eaton is leaning forward—its 2023 Sustainability Report showcasing more transparency and reporting rigor than ever before. Likewise, the company’s Inclusion and Diversity Report shares several employee success stories and reveals how an inclusive culture can achieve better business results.

Highlights from Eaton’s sustainability report include:

• Reducing greenhouse gas (GHG) emissions by 31%, up from 27% in 2022, in its operations since 2018 through energy efficiency projects, energy conservation, and shifts to renewable energy. Eaton’s goal is to reduce 50% of GHGs from its operations by 2030.
• Certified 79% of manufacturing sites as zero waste to landfill, up from 75% in 2022. This moves the company closer to its goal to certify 100% by 2030.
• Certified 16% of manufacturing sites as zero water discharge, up from 8% in 2022, surpassing its goal to certify 10% of its sites in water-stressed areas by 2030.
• Invested $1.3 billion in research and development for sustainable solutions since 2020, up from $900 million in 2022, and progressing toward its goal to spend $3B by 2030.

“What’s important gets measured and what’s measured gets done,” said Harold Jones, chief sustainability officer and executive vice president, Eaton Business System. “I’m pleased to share that for yet another year, we’re getting it done. We’re marching closer to fulfilling our mission to improve the quality of life and the environment and these publications showcase the significant progress we’ve made on this journey.”

Highlights from Eaton’s I&D report include:

• Increasing the representation of women in salaried positions across the enterprise to nearly 28% and U.S. minorities to more than 24%, against 2030 aspirational goals of 40% and 34%, respectively.
• Increasing the employee inclusion index score—a gauge of employees’ sense of inclusion—to 77%, bringing Eaton closer to its aspirational goal of 80%.
• Maintaining a strong representation of women and U.S. minorities on the board of directors and senior leadership team.

“Inclusion and diversity are a powerful combination that strengthens our culture and workforce,” said Ernest Marshall, executive vice president and chief human resources officer. “Our reports reflect our transparency, accountability and commitment to advancing policies and programs that promote equity and opportunity for all.”

Eaton is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. 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 sources, helping to solve the world’s most urgent power management challenges, and building a more sustainable society for people today and generations to come.

Eaton was founded in 1911 and has been listed on the New York Stock Exchange for more than a century. We reported revenues of $23.2 billion in 2023 and serve customers in more than 160 countries. For more information, visit www.eaton.com. Follow us on LinkedIn.

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Margaret Hagan

+1 (440) 523-4343

MargaretHagan@Eaton.com

Drew Horansky

+1 (440) 523-4306

DrewAHoransky@Eaton.com

Source: Eaton