Cummins' ESG Efforts Lauded in Multiple Ways As 2022 Draws to a Close
Cummins Inc. is ending the final quarter of the year with a flurry of awards and recognition for the company’s work on sustainability and ESG excellence.
The global power technology leader, for example, recently saw its ESG Rating from MSCI upgraded from AA a year ago to AAA last month, the highest rating possible. MSCI stands for Morgan Stanley Capital International. The firm is a leading provider of support tools and services for the investment community.
MSCI said the upgrade was driven by the presence of new members on the Board of Directors, strong workforce management and health and safety programs, as well as efforts to reduce waste and emissions at plants and facilities.
Also in November, Cummins received the Frost & Sullivan Institute’s Enlightened Growth Leadership Best Practices Award for its work on climate action and other sustainability issues.
The award goes to companies at the forefront of “Innovation to Zero,” a phrase first coined by Bill Gates to describe innovation to achieve zero emissions. The institute says it recognizes companies “moving the world in the right direction.”
“We identify companies that demonstrate the commitment to embrace emerging technologies and protocols and generate opportunities for all while sustaining continued growth and highlighting best practices for sustainable development,” said David Frigstad, Chairman, Frost & Sullivan and the Frost & Sullivan Institute.
Frost & Sullivan is a leading global market research company, offering growth strategy consulting and corporate training. The award was announced Nov. 11. This is the second consecutive year Cummins has received the award.
In October, the company was named to Investor’s Business Daily’s fourth annual 100 Best ESG Companies list for 2022.
Cummins finished No. 27 in the 2022 rating, which was based on the company’s environmental, social and governance score from the S&P Dow Jones Sustainability Indices along with a review of publicly available data and media coverage of Cummins.
“In the rough and tumble stock market of 2022, the top companies on our list stand strong,” the publication said in announcing its list Oct. 24. “They maintained their commitment to ESG in a punishing economic environment, and still delivered notable financial performance when compared to other companies.”
Cummins is committed to playing a leadership role on the global effort to reduce carbon emissions while also initiating programs to promote gender equity around the world and address institutional racism in the United States.
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