Fortive Releases Annual Sustainability Report

Highlights 2022 Achievements and New 2029 Targets Including Emissions and Water Reduction, Supplier Diversity and Enhanced Ratings

Fortive Corporation, announced it has published its annual Sustainability Report, detailing the company’s continued commitment to achieving ambitious goals for a sustainable future.

“Our commitment to creating a sustainable future remains a priority, and is embedded in our strategy and shared purpose,” said James A. Lico, President and Chief Executive Officer of Fortive. “We believe that the positive impact from our Sustainability initiatives will benefit our stakeholders and drive long-term value for our shareholders. With more than 60% of our revenue last year generated from products and services that enable sustainability-related outcomes, we are committed and invested in accelerating progress toward our Sustainability goals and delivering impact for our customers.”

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The report details Fortive’s environmental, social, and governance (ESG) approach and performance, with notable accomplishments including:

• Significant Greenhouse Gas (GHG) Emissions Reductions: Achieved a 22.4% reduction in absolute Scope 1 and Scope 2 GHG emissions from 2019-2022, tracking toward our 2029 goal to reduce absolute Scope 1 and 2 GHG emissions 50% from 2019 levels.
• Revenue Alignment with United Nations Sustainable Development Goals: More than 60% of Fortive’s 2022 revenue was generated from products and services that enable sustainability-related outcomes for and through our customers.
• Inaugural Water Reduction Goal: Fortive is targeting to reduce water use by 10% across major operations by 2029, from 2022 levels.
• Sustainability Ratings Increases: Achieved a “B” rating from CDP for the 2022 Climate Change disclosure and an ESG rating of “AA” (leader) from Morgan Stanley Capital International (MSCI).
• Steady Gains Toward Inclusion, Diversity, and Equity Goals: Increased our inclusion and belonging score to 82%. Additionally, our workforce¹ is 38% women and 36% Black, Indigenous, and People of Color (BIPOC), reflecting continued improvement towards our aspirational goal to increase representation by 2025 (to 50% and 37% respectively).
• Committed to Working and Sourcing Responsibly: Scored 100% on the Human Rights Campaign Corporate Equality index (CEI) for the sixth consecutive year and established a partnership with the National Minority Supplier Development Council (NMSDC) to foster connections with minority business enterprises (MBEs) to support our commitment to supplier diversity, including our goal to achieve $100M spend with diverse suppliers by year-end 2025.
• Increased Charitable Giving: The Fortive Foundation contributions have increased 3 times since the first year of operation (2020), supporting organizations focused on STEM education, social justice, community resiliency, and environmental stewardship.

As part of Fortive’s ongoing pledge to advance transparency and accountability, the report is prepared in alignment with the Global Reporting Initiative (GRI) core standards, the Sustainability Accounting Standard Board (SASB) standard for the Electrical & Electronic Equipment sub-industry, the Task Force on Climate-Related Financial Disclosure (TCFD) framework, and the United Nations Global Compact (UNGC) and Sustainable Development Goals (UN SDGs).

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