Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate change
• Water and waste
• Business ethics, integrity, and transparency
• Data privacy and cybersecurity
• Risk excellence
• Community impact
• Supply chain responsibility
• Employee experience
• Human rights in the workplace and value chain
• Product quality and safety
• Employee health and safety
• Inclusion, diversity, and equity
• Products with Impact
• Energy and emissions

Environmental Achievements

• Reduced Scope 1 and 2 emissions by 4% since 2019
• Achieved a waste diversion rate of 93%
• 89% of our packaging supplies were made of recycled material
• 65% of our sales were associated with our Products with Impact

Social Achievements

• Expanded employee inclusion groups and hosted inaugural enterprise Inclusion Conference
• Continued focus on training and development through Hubbell University
• The Hubbell Foundation donated $1.4 million to charitable organizations
• 45% racial and ethnic diversity representation across our US workforce
• 33% global female representation
• 40% female and racial/ethnic representation among Board of Directors

Governance Achievements

• 100% of compliance cases were investigated
• Over 40 internal audits performed to evaluate compliance

Climate Goals & Targets

Environmental Challenges

• Climate-related and environmental laws and regulations may increase the compliance burden.
• Increasing stakeholder concern or expectations for climate-related issues may impact Hubbell's business or reputation.
• Severe weather events and natural disasters may disrupt operations in our facilities and supply chains.
• Long-term shifts in weather patterns may influence the availability of resources, impacting the cost of raw materials.
• Changes in climate may influence customer demand for low-carbon solutions.

Mitigation Strategies

• Establish procedures and controls to advance Hubbell’s environmental performance and methods of disclosure.
• Evolve business strategy to address climate-related topics within product development, operations, and disclosures.
• Collaborate with our suppliers to reduce our carbon footprint as well as strengthen infrastructure.
• Evaluate partners across Hubbell’s supply chain to boost resiliency.
• Strive to enhance Hubbell’s current products and develop new products that enable sustainable outcomes

Supply Chain Management

Supplier Audits: In-person audits of top spend suppliers every five years

Responsible Procurement

• Third-Party Code of Business Conduct and Ethics
• Conflict Minerals Policy
• California Transparency Act Disclosure

Climate-Related Risks & Opportunities

Physical Risks

• Severe weather events
• Natural disasters
• Long-term shifts in weather patterns

Transition Risks

• Climate-related regulations
• Carbon taxation
• Changes in customer demand

Opportunities

• Energy efficiency improvements
• Increased demand for low-carbon products
• New markets in renewable energy

Reporting Standards

Frameworks Used: GRI, SASB, TCFD

Certifications: ISO 9001, ISO 14001, ISO 27001

Third-party Assurance: ERM Certification & Verification Services Incorporated

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 9 (Industry, Innovation, and Infrastructure)
• Goal 11 (Sustainable Cities and Communities)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 8 (Decent Work and Economic Growth)
• Goal 10 (Reduced Inequalities)

Initiatives contribute to these goals through product development, operations, and community engagement.

Sustainable Products & Innovation

• Smart meter technologies
• AMI solutions
• EV charger (commercial release in 2H 2024)

Awards & Recognition

• 2024 World’s Most Ethical Companies® by Ethisphere®
• America’s Most Responsible Companies 2024 by Newsweek
• Dow Jones Sustainability Index for North America