Last week, nVent released our 2023 Sustainability Report with highlights from our ESG focus areas of People, Products, Planet and Governance. We are committed to sustainability and continuous improvement and ESG has been a core part of who we are and how we operate since the beginning.
In 2023, we made strong progress in each of our ESG focus areas.
People
We increased the representation of women in management globally by 4% and continued to build on our programs to develop, recognize and support our employees. Participation in our Employee Resource Groups grew by 59% to more than 1,600 employees. We also improved our employee safety TRIR where we remain a leader in our industry.
Products
We continued to build on our efforts to deliver innovative products that positively impact one or more of our three ESG categories: Eco-Friendly Materials, Eco-Friendly Designs and End-User Safety. Eighty-five percent of the products in our new product pipeline at the end of 2023 met at least one of these criteria. We achieved our goal—two years ahead of schedule—to make our product environmental data digitally accessible to our customers. We also set a new goal to eliminate the use of single-use plastics in our product packaging by 2030.
Planet
In our Planet pillar, we reduced our Scope 1 and Scope 2 greenhouse gas emissions and increased our renewable energy consumption. We remain focused on environmental stewardship—achieving our Planet goals, investing in renewable energy, reducing water consumption and reducing and diverting waste. As part of our continuous improvement approach, we are introducing a new goal this year to reduce our water consumption by 25% by 2030. We believe this is an important step in our journey as we continue to demonstrate our commitment to environmental sustainability and operational efficiency.
Governance
In 2023, we trained 100% of our professional employees and 95% of our total population on our Code of Conduct. We also reached 100% of people leaders with our Ethical Leadership Training in the past two years. Our team also updated our Supplier Code of Conduct to embed additional ESG considerations. These updates align with our commitment to honest and ethical business practices in our dealings with our customers, business partners, investors, communities and each other.
This year, we are also sharing specific alignments between our ESG goals and the UN Sustainable Development Goals.
To learn more about our 2023 Sustainability Report, visit ESG/Sustainability | nVent → . Click here to view or download our 2023 Sustainability Report →