Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Action
• Innovation
• Health & Safety
• Inclusion & Talent
• Environmental Resource Management (Energy, Water, Waste)

Environmental Achievements

• Reduced absolute scope 1 and 2 GHG emissions by 8% since 2019
• Reduced absolute scope 3 GHG emissions by 10% since 2019
• Reduced water consumption by 65% and water withdrawal by 14% from 2019 baseline
• More than 150 projects executed to reduce emissions across operations

Social Achievements

• Launched employee engagement survey with 80% inclusion index
• Trained 80% of global leaders on inclusive leadership and unconscious bias
• Increased ethnically diverse team members by 12 percentage points (30% to 42%) since 2015
• Increased female team members by 4 percentage points (21% to 25%) since 2015
• Implemented Dover Celebrates!, a global recognition platform
• Reduced TRIR (Total Recordable Incident Rate)

Governance Achievements

• All directors are independent, except CEO
• ESG oversight included in CEO's strategic objectives
• 99.6% of online employees completed 2022 Code of Conduct e-training
• 99.4% of online employees completed 2022 anti-corruption e-training
• Additional live & streaming anti-corruption training delivered to employees in 34 countries

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to climate events
• Reduced demand for fossil fuels and Dover products serving energy and retail fueling industries

Mitigation Strategies

• Business continuity plans to protect people, property, and assets from potential physical impacts of climate change
• Implementing process upgrades to improve energy efficiency and switching fleet and machinery from diesel to lower emission energy sources
• Research and development (R&D) advancements achieving goals for sustainable products and technologies

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Increased frequency and severity of storms shutting down operations
• Disruptions to critical suppliers due to extreme weather events

Transition Risks

• Increased operational costs due to carbon pricing
• Reduced demand for fossil fuels and Dover products

Opportunities

• Improve energy efficiency and switch to renewable energy
• R&D advancements achieving goals for sustainable products and technologies

Reporting Standards

Frameworks Used: GRI, SASB, TCFD

Certifications: ISO 14001 (32 sites)

Sustainable Products & Innovation

• Electrification of trash and recycling trucks
• Electric vehicle charging at retail fueling stations
• Cleaner fuels like hydrogen and LNG
• Natural refrigeration technologies using CO2
• Highly efficient, compact brazed plate heat exchangers
• Digitally-enabled maintenance solutions

Awards & Recognition

• A- on CDP Climate ranking (2022)
• Newsweek’s America’s Most Responsible Companies (2023)
• Newsweek’s America’s Greenest Companies
• 2022 JUST Capital index
• MSCI rating increase from A to AA in 2022

Environmental Metrics

ESG Focus Areas

• Climate Change
• Water Security

Environmental Achievements

• Reduced Scope 1 and 2 location-based emissions by 17% from the 2019 re-baselined figure.
• 70% of SWEP’s energy consumption comes from renewable sources.

Social Achievements

• Launched employee well-being program (details not provided in report)
• Completed initial public-facing diversity and inclusion targets

Governance Achievements

• Established a cross-functional Sustainability Steering Committee
• Set science-based targets for reducing Scope 1 and 2 emissions 30% by 2030 and Scope 3 emissions 15% by 2030 relative to a 2019 baseline.

Climate Goals & Targets

Environmental Challenges

• Increased pricing of GHG emissions resulting in increased compliance costs.
• Increased cost of raw materials due to carbon pricing.
• Unsuccessful investment in new technologies.
• Supply chain disruptions from extreme weather events.

Mitigation Strategies

• Tracking regulatory updates and evaluating potential risk for increased costs in high-risk areas due to climate legislation or taxes.
• Setting science-based targets for reducing Scope 1 and 2 emissions 30% by 2030 and Scope 3 emissions 15% by 2030 relative to a 2019 baseline.
• Optimizing Dover’s supply chain to achieve both cost savings and carbon efficiencies by minimizing average length of haul.
• Investing in R&D for sustainable products.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Increased severity of extreme weather events
• Flooding
• Drought
• Heat waves

Transition Risks

• Carbon pricing mechanisms
• Increased cost of raw materials
• Changing customer behavior
• Regulatory changes

Opportunities

• Development of new products or services through R&D and innovation
• Improved energy efficiency and switch to renewable energy

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, Science Based Targets initiative (SBTi)

Certifications: ISO 14001

Third-party Assurance: AA1000AS

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Advanced Second Nature (SN) refrigeration systems
• Belvac technology
• EvoClean dispenser
• Hypertwain heat exchange technology
• Hydrogen dispensers and cooling systems
• Energy efficiency equipment for buildings
• DC fast chargers for electric vehicles

Awards & Recognition

• Not disclosed