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Through our business solutions and the innovation and commitment of our talented employees, we have an opportunity to make unique contributions to global efforts for greater sustainability and equity. We've set Social Responsibility Targets to advance the positive impact of our business. In setting our targets, we focused on the impact our operations, products, and solutions have on people and the planet.
Pentair Social Responsibility Strategic Targets
Carbon Footprint Reduction
Pentair is committed to the transition to a low-carbon economy through reducing our emissions impacts. Using tools developed by the Science Based Target Initiative (SBTi) and in alignment with the Intergovernmental Panel on Climate Change (IPCC) 1.5o scenario:
- We are targeting reducing our greenhouse gas (GHG) emissions by 50% from a 2019 baseline by 2030, and aim to achieve carbon neutrality by 2050, in each case related to Scope 1 and 2 GHG emissions.
Progress Highlights: In 2022, Pentair’s total Scope 1 and 2 GHG emissions decreased 29% compared to the 2019 baseline.
Water Reduction
Water stewardship is an important focus for the Pentair business.
- Pentair is targeting a 30% reduction in overall water withdrawal from a 2019 baseline by 2030.
Progress Highlights: In 2022, Pentair’s absolute water withdrawal within our operations decreased 0.7% compared to the 2019 baseline. We are proud of our 2022 progress achieving a 9.3% decrease compared to 2021 withdrawal.
Product Design for Sustainability
We plan to further assess, design, and commercialize our products for environmental sustainability to reduce our customers’ impact on climate change. Our targets include:
- Enhancing our product innovation process for increased focus on environmental sustainability in 2021.
Progress Highlights: We achieved this target in 2021 through the creation of a Product Sustainability Scorecard that is integrated as a standard component in our product commercialization process.
- Launching our enhanced innovation processes in 2022 where we plan to:
- Assess 100% of new products using this enhanced innovation process beginning in 2022.
- Include a product sustainability rating as an equally weighted factor in commercialization decisions.
Progress Highlights: In 2022, 100% of new products were assessed through the Product Sustainability Scorecard. We further advanced our innovation process by including sustainability as a required factor for review, along with the review of other product attributes, as part of the product commercialization process. This advancement further positions us to meet our goal of including product sustainability as an equally weighted factor in our commercialization decisions.
- Developing a standardized process for aggregation of product sustainability achievements to disclose customer energy, water, and chemical savings made possible by the use of our products.
Progress Highlights: In 2022, we developed standard processes for assessing product sustainability impact claims that we plan to use for the aggregation of product sustainability achievements starting in 2023. In 2022, we also implemented a life cycle assessment (LCA) tool into the Product Sustainability Scorecard that will assist with the aggregation of sustainability achievements.
Responsible Supply Chain
In partnership with our suppliers, we are expanding our social responsibility strategy beyond our operations to build a more sustainable supply chain. Our targets include:
- In 2021, we plan to refresh our Supplier Code of Conduct with increased focus on environmental sustainability and social responsibility.
Progress Highlights: We achieved this target in 2021 through the refreshment of our Supplier Code of Conduct that includes an increased focus on environmental sustainability and social responsibility.
- Target: In 2022, we plan to launch an enhanced Supplier Code of Conduct alongside an updated supplier assessment process, in which we aspire to:
- Assess the ESG maturity of 100% of new suppliers with projected spend of greater than $1 million to ESG maturity by 2025.
- Assess the ESG maturity of the top 80% of existing suppliers by spend to ESG maturity by 2030.
Progress Highlights: In 2022, we successfully launched the refreshed and enhanced Supplier Code of Conduct. In early 2022, we also launched a new supplier ESG assessment process in collaboration with a third-party expert. This assessment process consists of questions on a variety of ESG issues.
- In 2022, we assessed the ESG maturity of approximately 46% of our top 80% of existing suppliers by spend and we have also established a process to identify new suppliers with a projected spend of greater than $1 million to help us achieve our new supplier assessment target.
Inclusion & Diversity
Through living our Win Right Values, Pentair is committed to continuing to strengthen our existing culture through an inclusive and diverse workplace, by attracting, developing, and retaining top talent and building the inclusion and diversity core capabilities of our organization. By leveraging diverse teams we will enable strong business performance and improve the employee value proposition. Our diversity and inclusion targets include:
- Achieving an inclusive and diverse workforce and leadership team that embraces the communities in which we live, work, and serve:
- With a specific focus on increasing women in leadership positions globally and people of color (POC) representation in U.S. leadership positions.
Progress Highlights: In 2022, Pentair’s representation of women in our workforce was 32% (2019 baseline of 30%) and women in leadership positions was 32% (2019 baseline of 28%). In 2022, our U.S. POC representation in our workforce was 40% (2019 baseline of 39%) and our U.S. POC representation in leadership positions was 25% (2019 baseline of 23%).
2022 CORPORATE RESPONSIBILITY REPORT
Our annual Corporate Responsibility Report highlights our efforts to support a more sustainable future.
