Key Takeaways

• Cummins achieves record revenue while advancing sustainability goals ("Destination Zero").
• Greenhouse gas emissions reduced by 31%, surpassing company targets.
• Over 6.9 billion gallons of water benefits provided to communities.
• 79% of employees volunteered in communities, impacting over 3.2 million people.
• Increased diversity in leadership leads to innovation and strong business results.

Cummins has recently published its Sustainability Progress Report 2023-2024, showing progress on its environmental, social, and governance (ESG) goals.

This aligns with the company's mission of "making people's lives better by powering a more prosperous world."

Financial Success Alongside Sustainability

Cummins achieved record-breaking revenue ($34.1 billion) and operating cash flow ($4.0 billion) in 2023. This success reflects the company's "Destination Zero" strategy, focusing on product decarbonisation and growth while maintaining environmental responsibility.

Environmental Leadership

The report spotlights a 31% reduction in Scope 1 and 2 greenhouse gas emissions in 2023. This achievement transcends company targets and represents their commitment to reducing their environmental footprint. Key initiatives include on-site solar projects and energy efficiency improvements across facilities.

Community Impact

Cummins Water Works provided over 1 billion additional gallons of water benefits in 2023, bringing the total annual impact to over 6.9 billion gallons, exceeding the company's own water consumption.

Cummins' strategic community initiatives are making a positive difference as well. These programmes have empowered:

• 1.2 million people through Cummins Water Works since 2021.
• 4,000 graduates from Cummins TEC: Technical Education for Communities since 2012.
• Over 6,25,000 women and girls in 2023 alone through Cummins Powers Women.
• Black-owned enterprises through Cummins Advocating for Racial Equity (CARE).

Employee-Driven Engagement

In 2023, 79% of eligible Cummins employees participated in the Every Employee Every Community programme, contributing over 3,43,000 volunteer hours and impacting over 3.2 million people.

Diversity is Strength

Cummins recognises the value of diversity, equity, and inclusion (DE&I). They have the most diverse leadership team in company history, with women leading four out of five business segments in 2023. Nearly 40% of their U.S. workforce identifies as people of colour. This commitment to DE&I is reflected in their Board of Directors receiving a prestigious award for exemplary DE&I practices.

Conclusion

Cummins is an example of how social influence and environmental responsibility can coexist with excellent financial performance. Their dedication to DE&I develops creativity and fortifies their local communities.

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Source: Cummins