Cummins Inc. released its 2023–2024 Sustainability Progress Report, detailing key highlights on environmental, social, and governance (ESG) efforts. The report details how the company has done financially very well while committing substantially to sustainability in following the mission objective, “Making people’s lives better by powering a more prosperous world.”
Financial Success and Social Responsibility:-
In the year 2023, Cummins delivered record revenue of $34.1 billion and $4.0 billion of operating cash flow. The results underscore the company’s “Destination Zero” strategy of decarbonizing its products while delivering growth responsibly to the environment. It has achieved a Scope 1 and 2 greenhouse gas reduction of 31%, better than company targets. These geographically dispersed on-sites, solar projects, and energy efficiency at facilities are among the initiatives which have driven this outcome.
Community Impact and Water Sustainability:-
Cummins has made a huge contribution towards water sustainability through its Cummins Water Works program. It provided more than 1 billion additional gallons of water benefits in 2023 for a total annual impact of more than 6.9 billion gallons, beyond its own water use. Since 2021, Cummins Water Works has empowered 1.2 million people to show the commitment towards enhancing community water resources.
Educational and Social Empowerment:-
This seriousness towards education and social empowerment trickles down to the company’s many community initiatives. Their Cummins TEC: Technical Education for Communities has had 4,000 graduates since 2012. Only in the year 2023 more than 625,000 women and girls have been impacted by the initiatives under Cummins Powers Women. Their sundry reasonable attempts also include supporting Black-owned enterprises through a program called Cummins Advocating for Racial Equity, CARE.
Employee Engagement and Volunteerism:-
Employee engagement has been one of the hallmarks of Cummins’ community-impact strategy. In 2023, the Every Employee Every Community program contributed over 343,000 volunteer hours from 79% of eligible Cummins employees, positively affecting more than 3.2 million people. This strong degree of engagement is representative of the culture of service and community engagement within the company.
Diversity, Equity and Inclusion: –
Diversity, equity, and inclusion are to a great extent reflected at Cummins in its leadership team and workforce. In 2023, women led four of the five business segments, while nearly 40% of the U.S. workforce were people of color. The Board of Directors received a prestigious award for exemplary DE&I practices, right in step with the company’s leadership growth toward an increasingly inclusive workplace.
Conclusion:-
In the case of Cummins, it shows how financial performance can exist with social influence and environmental responsibility. The promise to DE&I dips people into creativity and empowers communities regarding a relationship that proves sustainability goes hand in glove with profitability.
Source: Cummins