Cummins Inc. (NYSE: CMI) has released its latest annual Sustainability Progress Report, highlighting significant strides in aligning business objectives with environmental stewardship. Jennifer Rumsey, Chair and CEO of Cummins, emphasized the company’s commitment to enhancing global prosperity through sustainable practices.
In 2023 and early 2024, Cummins achieved notable progress across its environmental, social, and governance (ESG) goals, alongside record financial performance with revenues reaching $31.4 billion and operating cash flow hitting $4.0 billion. This success underscores Cummins’ strategy, known as Destination Zero, aimed at decarbonizing products while fostering business growth.
Rumsey explained, “Our multi-solution approach under Destination Zero reflects our dedication to sustainability and assisting customers in navigating the energy transition. By advancing existing and developing new zero-emissions solutions through Accelera™ by Cummins, we not only meet current customer needs but also reduce environmental impact.”
Cummins also made substantial strides in reducing greenhouse gas emissions, achieving a 31% decrease in Scope 1 and 2 emissions in 2023. Key initiatives included completing 24 onsite solar projects and implementing 89 energy efficiency projects, contributing to substantial annual CO2e reductions.
Community initiatives were equally impactful, with Cummins Water Works generating significant water benefits, and programs like Cummins TEC and Cummins Powers Women positively impacting millions globally. Employee engagement in community service was robust, with 79% of eligible employees participating in Cummins’ Every Employee Every Community program, contributing over 343,000 hours.
Rumsey emphasized Cummins’ commitment to diversity, equity, and inclusion (DE&I), noting that increased diversity within leadership has amplified innovation and community impact. She highlighted Cummins’ recognition for exemplary DE&I practices, reinforcing the company’s dedication to fostering an inclusive workplace where all employees thrive.
“In a dynamic industry landscape, Cummins remains steadfast in our commitment to impactful community engagement and fostering an inclusive workplace,” Rumsey concluded. “Our diversity drives our innovation, enhances our community impact, and strengthens our business outcomes, enabling us to deliver superior solutions globally.
