Cummins Receives the Prince of Wales’ Terra Carta Seal for Commitment to a Sustainable Future
November 03 2021 - 11:00AM
Business Wire
Cummins Inc. (NYSE: CMI) was named today one of 45 inaugural
recipients of the Terra Carta Seal, an initiative led by the United
Kingdom’s Prince Charles to recognize businesses for their
commitment to environmental sustainability and decarbonization.
Inspired by the Magna Carta, the medieval document that remains
an important symbol of liberty around the world, the Terra Carta is
a recovery plan for the planet that serves as the guiding mandate
for The Prince of Wales’ Sustainable Markets Initiative (SMI). The
initiative seeks to establish a global forum for industries to
restructure their operations in a way that protects the world’s
natural resources.
“The Terra Carta Seal recognizes those organizations which have
made a serious commitment to a future that is much more
sustainable, and puts Nature, People and the Planet at the heart of
the economy,” Prince Charles said in a ceremony at an art museum
and gallery not far from the COP26 global climate summit taking
place in Glasgow, Scotland. “We all need to make changes if we are
to preserve the planet for our children and grandchildren and these
businesses have pledged to make it easier for us all to do so.”
The Sustainable Markets Initiative says the seal is awarded to
companies who hold a leadership position within their industry and
have “credible transition roadmaps to reduce their impact on the
environment, including the carbon they produce, underpinned by
globally recognized, scientific metrics for achieving net zero
emissions by 2050 or earlier.”
Cummins is committed to taking a leadership role on the world’s
climate challenges and other environmental concerns. In 2019, the
company unveiled PLANET 2050, Cummins’ environmental sustainability
strategy, which includes science-based goals timed to 2030 that are
aligned to the Paris climate agreements. The agreements seek to
limit average global temperature rise above pre-industrial levels
to 1.5 degrees Celsius.
“As the Terra Carta recognizes, sustaining a vibrant economy
while using fewer of the earth’s resources is the challenge of our
time,” said Cummins Chairman and CEO Tom Linebarger. “Our mission
of making people’s lives better by powering a more prosperous world
requires a healthier planet, and it will take all of us working
together to solve the world’s climate challenges. Being part of the
Sustainable Markets Initiative is both a great honor and a great
responsibility.”
As part of its approach to environmental stewardship, Cummins
aspires to be carbon neutral by 2050. The company is working to
reduce the carbon impact of its diesel and natural gas platforms
while bringing to market innovative no-carbon technology, including
battery and fuel cell electric. Cummins has also quickly emerged as
a leader in the manufacture of electrolyzers critical to the
production of green hydrogen, a promising no-carbon fuel.
The company also advocates for climate action through its
membership in several organizations, including Business Ambition
for 1.5°C, the CEO Climate Dialogue, the Business Roundtable and
the Hydrogen Council, a global coalition of CEOs working to
accelerate the use of green hydrogen. Linebarger serves as co-chair
of the Hydrogen Council.
Cummins has been named to the S&P Dow Jones Sustainability
Indices for North America for 15 consecutive years and qualified
for Sustainalytics’ 2021 ESG Industry Top Rated Badge among other
honors.
Other inaugural recipients of the Terra Carta Seal include Bank
of America, PepsiCo, Salesforce and Xerox. The Sustainable Markets
Initiative expects to add more recipients annually as additional
companies join its campaign to meet the world’s climate
challenges.
About the seal Working closely with The Prince of Wales,
Sir Jony Ive and his creative team at LoveFrom have created a
physical and animated seal that is both simple and beautifully
crafted. The prince’s Sustainable Markets Initiative says the
design combines “a host of natural references including oak leaves,
fern, magnolia and honeybees and intricate patterns both in nature
and in the arts, creating a visual celebration reflecting the power
of and reverence for nature that is at the heart of the Terra
Carta.”
About Cummins Inc. Cummins Inc., a global power leader,
is a corporation of complementary business segments that design,
manufacture, distribute and service a broad portfolio of power
solutions. The company’s products range from diesel, natural gas,
electric and hybrid powertrains and powertrain-related components
including filtration, aftertreatment, turbochargers, fuel systems,
controls systems, air handling systems, automated transmissions,
electric power generation systems, batteries, electrified power
systems, hydrogen generation and fuel cell products. Headquartered
in Columbus, Indiana (U.S.), since its founding in 1919, Cummins
employs approximately 57,825 people committed to powering a more
prosperous world through three global corporate responsibility
priorities critical to healthy communities: education, environment
and equality of opportunity. Cummins serves its customers online,
through a network of company-owned and independent distributor
locations, and through thousands of dealer locations worldwide and
earned about $1.8 billion on sales of $19.8 billion in 2020. See
how Cummins is powering a world that’s always on by accessing news
releases and more information at
https://www.cummins.com/always-on.
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Jon Mills, Cummins Inc. 317-658-4540 Jon.mills@cummins.com
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