Cummins Named to Prestigious World ESG Index For Second Year In A Row
Cummins Inc. has been named to the prestigious S&P Dow Jones Sustainability World Index for a second consecutive year, scoring in the 98th percentile in the 2022 review.
The global power technology leader joined 34 other companies from 19 different countries receiving the honor Dec. 9 in the capital goods sector. The company was also named to the S&P Dow Jones Sustainability North America Index for a 16th consecutive year.
“It is very gratifying to have our efforts in the areas of the environment, social and governance recognized and to know that investors believe they are important elements of Cummins’ story,” said Karen Cecil, the company's Director of Global Environmental Sustainability. “These efforts are part of Cummins’ core values and mission to power a more prosperous world.
“I’m especially proud of the 60,000 employees who work every day to envision what’s possible and identify sustainable solutions to go further, faster,” Cecil added.
S&P Global, the world’s largest market index provider, says a record 1,728 companies eligible for selection into one of its sustainability Indexes participated in the review in 2022, an increase of 9% over 2021. The initiative reviewed an estimated 13.4 million data points to arrive at its 2022 indexes.
Unlike ESG datasets that rely only on publicly available information, S&P Dow Jones says its review is based on a combination of company disclosures via an exhaustive survey as well as media coverage of the companies it reviews and stakeholder analysis.
The world sustainability index was first launched in 1999, making it one of the oldest sustainability/ESG (environmental, social and governance) rankings.
Cummins last made the S&P Dow Jones world sustainability index in 2013 before returning to the list in 2021 and now 2022. The company 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.
The rating from S&P Dow Jones follows an upgrade last month to AAA, the highest rating possible, in Cummins’ MSCI (Morgan Stanley Capital International) ESG ratings. Earlier in the year, the company received a 2022 gold medal for sustainability achievement from EcoVadis, a leading provider of business sustainability ratings, and a “Low Risk” ESG Risk Rating from Sustainalytics, a global leader in ESG research and data.