SOURCE: Cummins Inc.

DESCRIPTION:

Despite the pandemic, Cummins was able to make significant progress on its environmental, social and governance (ESG) priorities in 2020, Chairman and CEO Tom Linebarger told shareholders and guests at the company’s Annual Meeting earlier this month.

The Cummins leader said the progress will be critical to achieve the goals and aspirations included in the company's PLANET 2050 environmental sustainability strategy.

“We continued investment in our most important technology programs, which are critical to reaching our sustainability pledge of carbon neutrality by 2050,” Linebarger said at the May 11 meeting , which was conducted virtually because of the ongoing threat from COVID-19. “We are investing in a range of solutions to lead the industry on the path to a zero-emissions future, and we are taking steps today to turn our 2050 targets into real-world products and applications.”

Linebarger cited a number of projects involving the company’s development of low- and no-carbon power systems including the fuel cell technology used on the world’s first hydrogen-powered passenger train and the world’s largest electrolyzer in operation to produce green hydrogen. 

The Cummins leader also highlighted the launch of Cummins Advocating for Racial Equity to fight systemic racism in the United States.

“Institutional racism is a disease,” Linebarger said. “It is deeply rooted and long-standing and it makes our society weaker. It will take decisive and sustained action to dismantle racism and Cummins will be part of that action.”

Tweet me: #ESG excellence is key @Cummins. CEO Tom Linebarger says the company continued to make progress on ESG initiatives in 2020 despite the pandemic. https://bit.ly/2RigecI

KEYWORDS: NYSE: CMI, Cummins, Cummins Inc., ESG, CEO Tom Linebarger