Page 8 - 2023 Sustainability Report

COMPANY OVERVIEW

Engagement, Responsiveness and Accountability

We have adopted a holistic approach to sustainability that is highly interactive, responsive and also responsible. We hold
ourselves accountable to high standards and set meaningful targets and goals that we believe are achievable despite
substantial challenges.

Direct Shareholder Engagement Responsive to Shareholder Concerns

• We welcome conversations with our shareholders, • We adopted a Net Zero 2050 Ambition in our 2022
inviting opportunities to discuss our strategy, report
accomplishments, challenges, and targets • We include a discussion of physical, climate and
• We engage at the highest levels of management; other risks in our report
our calls generally include the Chair and CEO, • We have a TCFD Alignment Index, and this year
Executive Vice President and General Counsel, have added a SASB Index in our report
Executive Vice President and CFO, Head of
Sustainability, Deputy General Counsel and Head of • We participated for the first time in and submitted
Investor Relations responses to the CDP Climate and Water Surveys as
well as the related supply and plastics modules
• In 2023, we engaged with over 30 shareholders
during our spring 2023 outreach • We continue to expand our discussion of diversity,
equity and inclusion both in this report and on our
• In person visits were conducted with a number of United website
Kingdom and European shareholders in September
• We have submitted our commitment letter under the
• In the fall of 2024, we engaged with approximately Science Based Target initiative (SBTi) framework
70% of our shareholders, including most of our top
40, by letter, telephonically or in person, and provided • We submitted responses and additional data to both
updates on our sustainability and compensation Climate Action 100+ and Sustainalytics
program design

Robust Board Oversight Realistic and Meaningful Targets, Goals
and Ambitions
• Our Ethics, Environment, Safety and Health (EESH)
Committee, which guides our environmental and • Medium term (2030): Targets set for the reduction of
sustainability policies, meets at least four times a year Scope 1 and Scope 2 GHG emissions
• Established in 1994, it consists of fully independent • Long term (2050): Net Zero target for Scope 2, Net
Board members and reports to the full Board Zero ambition for Scopes 1 and 2 combined
• EESH Committee and other Board members have • Targets are reviewed annually in light of technological
significant experience and knowledge of ESG and specification changes
matters
• We signed an SBTi commitment letter and have begun
• Other committees including Management the process of SBTi target submittal and validation
Development and Compensation, Audit, Nominating
• We have begun the process of evaluating our Scope 3
and Corporate Governance and Finance all provide
data
oversight on various aspects of the performance of
management and the Company on these important
issues

6 2023 SUSTAINABILITY REPORT