ESG at Otis | Environmental, Social & Governance
Environmental, Social & Governance
ESG at Otis
VIEW ESG REPORT (PDF)
Connections create a better world
For more than 170 years, Otis has helped transform cities, shape skylines and change how people live and work. We connect people to one another and the places they need to go – we bring the world together. As we look to the future, we leverage our Environmental, Social & Governance (ESG) strategy to advance our business objectives, measuring progress in four key ESG areas, or pillars.
These pillars are linked to our Absolutes of Safety, Ethics and Quality and our business strategy. Together, they deliver value for the stakeholders who depend on us.
Health & Safety
We are in the life-safety business. We prioritize the health and safety of our colleagues, contractors and our passengers through the equipment and materials we use and the practices that guide us every day.
Environment & Impact
We are taking a holistic approach to managing our environmental footprint, including ambitious goals to reduce energy consumption, emissions and waste across our facilities and our fleet.
We continue to develop efficient, sustainable products that reduce customer costs and environmental impact.
People & Communities
We are fostering a culture that embraces many voices and points of view, and we support our people with training and professional development – essential elements to ensure we attract and retain the best talent on the market. We engage the communities around us by supporting initiatives that make a tangible difference – and spark passion in the next generation of Otis colleagues.
Governance & Accountability
We uphold high standards of governance, ethics and integrity to ensure accountability, This includes how we operate our business, what we expect of our suppliers and partners, how we communicate with our customers and passengers, and how we compete in the marketplace.
Commit
to achieve a zero-harm workplace
Expand
availability of well-being and resilience services to all colleagues worldwide through an Employee Assistance Program (EAP) by 2023
Educate
all field professionals and subcontractors annually on life-saving Cardinal Rules
Reduce
absolute scope 1 and 2 greenhouse gas (GHG) emissions 55% by 2033 from 2021 base year* and absolute scope 3 GHG emissions from purchased goods and services, business travel, and use of sold products 33% within the same timeframe
* The target boundary includes biogenic land-related emissions and removals from bioenergy feedstocks.
Source
100% of factory electricity from renewable energy by 2030
Achieve
100% factory eligibility for zero-waste-to-landfill certification by 2025
Complete
ISO 14001 certification for all factories by 2025
Achieve
gender parity in our executive ranks by 2030
Increase
the score for the inclusive culture category in the company’s colleague engagement survey by 4 points by 2025 (against a baseline score of 71)
Direct
50% of total global giving to science, technology, engineering and math (STEM) programs by 2025
Impact
15,000 students globally through STEM-focused programming across the learning and vocational training continuum to improve livelihoods and help build the workforce of tomorrow by 2030
Dedicate
500,000 colleague volunteer hours in support of vibrant communities, STEM education and social equity efforts globally by 2030
Award
at least 20% of U.S. supplier spend annually to diverse suppliers
As we progress on these goals, we are advancing our business and driving value for our key stakeholders, including our customers, partners, colleagues and shareholders.
-Judy Marks, Chair, Chief Executive Officer and President
Environmental, Social & Governance Report
The principles of ESG have been embedded in our strategy and culture for decades. In 2021, we became a signatory of the United Nations Global Compact and set public commitments that align with the U.N.’s Sustainable Development Goals. We’ve outlined a clear strategy with ambitious goals and bold initiatives. Read more about our progress in our latest ESG report.
