The 2022 ESG report of Otis Worldwide Corporation, which outlines the company's Environmental, Social, and Governance (ESG) strategy, has been released.

Within the report, progress has been outlined on Otis' 13 ESG goals, which aim to create value for the company's colleagues, communities, customers, and shareholders.

Judy Marks, the Chair, CEO, and President of Otis Worldwide Corporation, stated that delivering sustainable value for all stakeholders is fundamental to the company's values. She further added that the 2022 ESG report highlights the progress made on all 13 goals, which are categorised under four pillars: Health & Safety, Environment & Impact, People & Communities, and Governance & Accountability. These pillars are aligned with the company's Absolutes of Safety, Ethics, and Quality and are critical to the success of its business strategy, resulting in robust financial outcomes and positive impacts in the communities where they operate.

The 2022 ESG report of Otis Worldwide Corporation highlights several achievements, including the expansion of the Employee Assistance Programme to provide well-being and resilience services to all Otis colleagues worldwide.

In terms of environmental impact, Otis reduced its Scope 1 and Scope 2 greenhouse gas emissions by 4.8% compared to 2021 and 11% from the company's 2019 baseline.

Otis has also increased female executive representation from 36% in 2021 to 39.2% in 2022, aiming for executive gender parity by 2030.

The report also notes that executive short-term incentive compensation is now linked to ESG goal performance, specifically progress toward achieving executive gender parity and greenhouse gas emission reduction goals.

The complete Otis 2022 ESG report can be viewed here, and for additional investor updates, please refer to www.otis.com.

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Source: Otis