Vontier Releases 2024 Sustainability Report on World Environment Day

Rhea-AI Summary

Vontier (NYSE: VNT) has published its 2024 Sustainability Report on World Environment Day, showcasing significant progress in safety, sustainability, and innovation. The report details key accomplishments over the past year across four main areas:

Better Team: Achieved a Total Recordable Incident Rate (TRIR) of 0.36, a 36% reduction year-over-year, and met its 2026 DART goal early with a rate of 0.21, a 47% reduction. Increased global leadership representation of women to 32% and U.S. ethnic/racial minorities to 27%.

Better Innovations: Supported decarbonization with multi-energy fueling solutions and drove safety innovations in payment security, underground leak prevention, and electric vehicle repair tools.

Better Planet: Joined the UN Global Compact's “Forward Faster” initiative and achieved a 20% reduction in Scope 1 and 2 GHG emissions year-over-year, totaling a 40% reduction from 2020 levels. Named a Finalist for the Reuters Global Energy Transition Awards.

Better Society: Contributed $1M in volunteer hours through the Vontier Day of Caring and achieved 100% employee participation in a psychological safety course.

Positive

• Achieved a 36% year-over-year reduction in Total Recordable Incident Rate (TRIR) to 0.36.
• Early achievement of 2026 DART goal with a 47% reduction to a rate of 0.21.
• Increased global representation of women in leadership to 32%.
• Increased representation of ethnic/racial minorities in U.S. leadership to 27%.
• Supported global decarbonization efforts with multi-energy fueling solutions.
• Drove innovations in safety technologies, including payment security and underground leak prevention.
• Reduced absolute Scope 1 and 2 GHG emissions by 20% year-over-year, achieving a cumulative 40% reduction from 2020 levels.
• Joined the UN Global Compact's “Forward Faster” initiative.
• Named a Finalist for the Reuters Global Energy Transition Awards.
• Dedicated the equivalent of $1M in volunteer hours through community service.
• Achieved 100% employee participation in a psychological safety course.

Negative

• No specific negative business aspects were highlighted in the PR.

Company reports significant progress on safety, sustainability and innovation

RALEIGH, N.C.--(BUSINESS WIRE)-- Vontier Corporation (NYSE: VNT), a leading global provider of critical technologies and solutions to connect, manage and scale the mobility ecosystem, announced today the release of its 2024 Sustainability Report, which highlights the progress, milestones and accomplishments of the Company from the past year.

“I am proud to share the wonderful achievements the team made across numerous sustainability initiatives, which reflect our dedication to living our purpose as well as our core values,” says Mark Morelli, President & CEO, Vontier.

The 2024 report details accomplishments across four key areas, including:

Better Team

• Best-in-class key safety metrics: a Total Recordable Incident Rate (TRIR) of .36, representing a year-over-year 36% reduction; and the early achievement of its 2026 goal for Days Away Restricted Time (DART), with a rate of .21, representing a 47% year-over-year reduction
• Increased representation of women in leadership globally to 32% from 29%
• Increased representation of ethnic or racial minorities in U.S. leadership to 27% from 24%

Better Innovations

• Supported decarbonization efforts worldwide with multi-energy fueling solutions in compressed and renewable natural gas, hydrogen, and electrification
• Drove safety innovations across the mobility ecosystem, including payment security technologies, underground leak prevention and detection solutions for fueling stations, and critical tools for the safe repair of electric vehicles

Better Planet

• Signed on to the United Nations Global Compact “Forward Faster” initiative
• Achieved a 20% year-over-year reduction in absolute Scope 1 and 2 GHG emissions, and a cumulative 40% reduction in absolute Scope 1 and 2 GHG emissions from its 2020 base year
• Named a Finalist for the Reuters Global Energy Transition Awards

Better Society

• Dedicated the equivalent of $1M in volunteer hours of community service through the Vontier Day of Caring, and aligned 100% of Vontier Foundation donations within its giving pillars
• 100% employee participation in psychological safety course

“Sustainability is not about optics at Vontier. It is core to who we are, what we do, and why we exist. As our 2024 Sustainability Report illustrates, it is about the continuous pursuit of value creation for our customers, employees, shareholders and the world,” says Katie Rowen, SVP and Chief Administrative Officer, Vontier.

About Vontier

Vontier (NYSE: VNT) is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier enables the way the world moves – delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement and innovation built upon the foundation of the Vontier Business System and embraced by colleagues worldwide. Additional information about Vontier is available on the Company’s website at www.vontier.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240605617059/en/

Nicole Beck, Director, Communications

Vontier Corporation

Nicole.beck@vontier.com

Source: Vontier Corporation

FAQ

What is the Total Recordable Incident Rate (TRIR) achieved by Vontier in 2024?

Vontier achieved a Total Recordable Incident Rate (TRIR) of 0.36 in 2024, representing a 36% reduction year-over-year.

What progress did Vontier make in leadership diversity in 2024?

Vontier increased global representation of women in leadership to 32% and U.S. representation of ethnic/racial minorities in leadership to 27% in 2024.

How did Vontier contribute to decarbonization efforts?

Vontier supported decarbonization efforts with multi-energy fueling solutions, including compressed and renewable natural gas, hydrogen, and electrification.

What environmental initiatives has Vontier joined?

Vontier joined the United Nations Global Compact's 'Forward Faster' initiative.

What were Vontier's achievements in reducing GHG emissions?

Vontier achieved a 20% reduction in absolute Scope 1 and 2 GHG emissions year-over-year and a cumulative 40% reduction from its 2020 base year.

What recognition did Vontier receive for its sustainability efforts?

Vontier was named a Finalist for the Reuters Global Energy Transition Awards.

What community service initiatives did Vontier engage in?

Vontier dedicated the equivalent of $1M in volunteer hours of community service through the Vontier Day of Caring.

What employee training did Vontier complete in 2024?

Vontier achieved 100% employee participation in a psychological safety course in 2024.