Report details initiatives and progress toward 13 ESG goals and commitment to fostering a more sustainable, inclusive world
Otis Worldwide Corporation (NYSE: OTIS) published its 2022 ESG report, describing its Environmental, Social and Governance (ESG) strategy and highlighting alignment with the company’s strategic operating imperatives of Sustaining New Equipment Growth, Accelerating Service Portfolio Growth, Advancing Otis’ Digitalization, and Focusing and Empowering the Organization. The report outlines the progress made on the company’s 13 ESG goals to create value for Otis colleagues, communities, customers and shareholders.
“Doing the right thing is core to who we are, and we embrace the responsibility to deliver sustainable value for all stakeholders,” said Chair, CEO and President Judy Marks. “Our 2022 ESG report demonstrates tangible progress toward each of our 13 goals outlined in four key pillars: Health & Safety, Environment & Impact, People & Communities, and Governance & Accountability. These four pillars align with our Absolutes of Safety, Ethics and Quality and are central to the success of our business strategy in driving strong financial results and making positive impacts in the communities where we do business.”
Highlights from the 2022 report:
- Health & Safety: Expanded Otis’ Employee Assistance Program, providing well-being and resilience services, to cover 100% of Otis colleagues globally.
- Environment & Impact: Reduced Scope 1 and Scope 2 greenhouse gas emissions by 4.8% vs. 2021 and 11% from the company’s 2019 baseline*.
- People & Communities: Increased female executive representation from 36% in 2021 to 39.2% in 2022, putting Otis on a path toward executive gender parity by 2030.
- Governance & Accountability: Linked executive short-term incentive compensation to ESG goal performance – specifically, progress toward achieving executive gender parity and greenhouse gas emission reduction goals.