Gates Releases 2023 Corporate Sustainability Report

Core Insights - Gates has published its 2023 Sustainability Report, highlighting progress in its sustainability strategy across four pillars: Governance, Technology, Environment, and Stewardship [1][5] Governance - The company has established additional governance processes and enhanced reporting to align with global standards, demonstrating a commitment to sustainability [2][5] Technology - Gates has invested in its "GTES" organizational capabilities and leveraged its Eco-Innovation™ process to develop products with a reduced environmental footprint [2] Environment - The company has brought 818,000 kWh of solar energy online and invested in projects to reduce 18 million kWh of natural gas and 7 million kWh of electricity consumption [2] - Gates is actively pursuing decarbonization with 73 ongoing greenhouse gas (GHG) reduction projects and aims to reduce hazardous waste, landfill, and water consumption while increasing the number of zero-waste sites [2] Stewardship - Gates employees are engaged in community service through various volunteer activities, including mentoring in STEM programs and supporting local reforestation and food bank initiatives [4] Health and Safety - In 2023, Gates achieved a 20% decrease in Total Case Incident Rates (TCIR) and a 15% reduction in severe injuries, reflecting the effectiveness of its health and safety initiatives [3] Reporting Standards - The sustainability reporting process adheres to standards set by the International Financial Reporting Standards (IFRS), Sustainability Accounting Standards Board (SASB), and the Task Force on Climate-related Financial Disclosures (TCFD), among others [5]