Allegion Releases 2023 ESG Metrics, Digital Annual Report

Rhea-AI Summary

Allegion plc (NYSE: ALLE), a global security products provider, has released its 2023 ESG metrics and digital annual report. Key highlights include:

• 16% decrease in water usage intensity
• 30% decrease in greenhouse gas emissions intensity
• 87% waste diversion rate
• 26% carbon-free electricity usage
• 42% decrease in lost time incident rate
• 75% diversity on the Board of Directors

The company's digital annual report showcases its 10-year anniversary, financial performance, and strategic vision. CEO John H. Stone emphasized Allegion's commitment to safety, sustainability, and creating long-term shareholder value. The report is available at www.allegion.com/annualreport.

DUBLIN--(BUSINESS WIRE)-- Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has released its 2023 environmental, social and governance (ESG) metrics and digital annual report, available at www.allegion.com.

ESG Goals and Key Performance Indicators (KPIs)

Allegion has updated its ESG microsite (www.allegion.com/ESG) with 2023 metrics. The webpages offer transparent information on Allegion’s commitment to sustainability efforts, featuring goals, KPIs and recent progress highlights across environmental impact, employee safety, product quality, supplier management, diversity, equity and inclusion, ethics, compliance, privacy and additional ESG focus areas for the company.

“We’re dedicated to positively impacting the world around us – not just in terms of making it safer through our work in security and access, but also in terms of corporate social responsibility and sustainability,” said Allegion President and CEO John H. Stone. “We have one of the safest and most engaged workforces in manufacturing. We regularly give back to our communities, through organizations like Habitat for Humanity, the Red Cross and many other local causes, all while holding ourselves accountable to a set of unwavering core values and ESG commitments.”

2023 ESG highlights include:

• Decreased water usage intensity by 16% compared to the 2020 baseline.
• Decreased greenhouse gas emissions intensity (Scope 1 and 2) by 30% compared to the 2020 baseline.
• Achieved a waste diversion rate of 87%.­­
• Increased our carbon-free electricity usage to 26%, more than quadruple the 2020 baseline.
• Decreased our year-over-year lost time incident rate by 42%.
• Reached 75% diversity across gender, racial and ethnic representation among the Allegion Board of Directors (Board), while gaining greater depth in critical skills and experience.
• Tied a component of annual incentive compensation payouts for our executive leadership team to Allegion’s annual ESG scorecard performance.
• Maintained an independent Board chair, Board committees and committee chairs.

Visit the Allegion ESG microsite for more details on these KPIs, additional highlights and how they are all measured.

Digital Annual Report

With a refreshed design, the “2023 Annual Report & More” microsite (www.allegion.com/annualreport) is a snapshot of Allegion’s 2023 performance, as well as 10-year reflections given the company’s milestone anniversary in December 2023. It includes easy access to Allegion’s 2023 Annual Report (Form 10-K), the 2024 Proxy Statement and Stone’s second annual letter to shareholders.

In full, the digital annual report features three sections:

• Performance: Download the 2023 financial infographic, watch the “Allegion by the Numbers” video for company financial and data-based highlights and access the full newsroom of 2023 quarterly results press releases.
• 2023 in Review: Read stories about employees and teams from across the globe who were recognized with awards, honors and business achievements that made an impact. The section also features innovative solutions from 2023, highlighting a selection of new products and services from Allegion brands.
• Strategy in Action: Learn more about Allegion’s vision, strategy and the employees who innovate to better secure people and their property where they live, learn, work and connect. This section provides an overview of how Allegion delivered on its business strategy in 2023.

In his annual letter to shareholders, Stone shared, “Over the last 10 years, Allegion has provided peace of mind through safety and security to millions of people. And with our vision of enabling seamless access and a safer world, Allegion still has even more opportunities ahead to fulfill our mission while creating long-term shareholder value… Allegion has much to be proud of — but the future is even more exciting.”

Visit the Allegion Annual Report & More microsite to download a copy of this full letter or explore the additional 2023 highlights.

About Allegion

Allegion (NYSE: ALLE) is a global pioneer in seamless access, with leading brands like CISA^®, Interflex^®, LCN^®, Schlage^®, SimonsVoss^® and Von Duprin^®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $3.7 billion in revenue in 2023, and its security products are sold around the world. For more, visit www.allegion.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding our strategy, ESG goals and ability to achieve these goals, the company’s business plans and strategy, and the company’s growth strategy. These forward-looking statements generally are identified by the words “believe,” “aim,” “project,” “expect,” “anticipate,” “project,” “estimate,” “forecast,” “outlook,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements. Undue reliance should not be placed on any forward-looking statements, as these statements are based on the company's currently available information and our current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties - many of which are beyond the company’s control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Important factors and other risks that may affect the company's business or that could cause actual results to differ materially are included in filings the company makes with the Securities and Exchange Commission from time to time, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and in its other SEC filings. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. The company undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240731821016/en/

Media Contact:

Whitney Moorman – Director, Global Communications

317-810-3241

Whitney.Moorman@allegion.com

Analyst Contacts:

Jobi Coyle – Director, Investor Relations

317-810-3107

Jobi.Coyle@allegion.com

Josh Pokrzywinski – Vice President, Investor Relations

463-210-8595

Joshua.Pokrzywinski@allegion.com

Source: Allegion plc

FAQ

What are Allegion's key ESG achievements in 2023?

Allegion (ALLE) reported significant ESG achievements in 2023, including a 16% decrease in water usage intensity, 30% decrease in greenhouse gas emissions intensity, 87% waste diversion rate, 26% carbon-free electricity usage, and a 42% decrease in lost time incident rate compared to previous years.

How has Allegion improved its board diversity in 2023?

Allegion (ALLE) reached 75% diversity across gender, racial, and ethnic representation among its Board of Directors in 2023, while also gaining greater depth in critical skills and experience.

What is included in Allegion's 2023 digital annual report?

Allegion's (ALLE) 2023 digital annual report includes a financial infographic, 'Allegion by the Numbers' video, quarterly results, employee and team achievements, innovative solutions, and an overview of the company's vision and strategy. It also features CEO John H. Stone's letter to shareholders.

How has Allegion linked executive compensation to ESG performance?

In 2023, Allegion (ALLE) tied a component of annual incentive compensation payouts for its executive leadership team to the company's annual ESG scorecard performance, demonstrating a commitment to sustainability goals.

What milestone did Allegion celebrate in December 2023?

Allegion (ALLE) celebrated its 10-year anniversary as a company in December 2023, reflecting on a decade of providing safety and security solutions to millions of people.