Techtronic Industries Endorses UN Global Compact for Sustainability

Techtronic Industries Joins the UN Global Compact

Techtronic Industries Co. Ltd. ("TTI") has made an impactful announcement that showcases its continuous commitment to sustainability and social responsibility. By joining the United Nations Global Compact, TTI aligns itself with a global network of businesses dedicated to implementing sustainable and socially responsible policies. This initiative reflects a significant step for the company, which operates extensively in the cordless power tool, outdoor power equipment, and floorcare sectors.

The Importance of the UN Global Compact

The UN Global Compact is renowned as the world's largest corporate sustainability initiative, boasting over 25,000 signatories from more than 160 countries. By becoming a signatory, TTI promises to update its stakeholders on its sustainability progress through annual reports. This commitment underscores TTI's dedication to governing business practices that contribute positively to society and the environment.

CEO's Vision on Sustainability

TTI's CEO, Steve Richman, expressed enthusiasm over this alignment with the UN’s objectives, stating that the company has long prioritized sustainability in its operations. The integration of lithium-ion battery-powered tools and environmentally friendly practices has been a core focus since 2015, when TTI began publishing its Environmental, Social, and Governance (ESG) reports. The company’s goals have further evolved, aligning with the UN's Sustainable Development Goals since 2018, demonstrating a steadfast commitment to various focus areas including safety, noise reduction, and decarbonization.

Continuing Commitment to Sustainable Development

TTI is not just joining the UN Global Compact; it is actively working to implement initiatives that advance the UN's Sustainable Development Goals. The company aims for a workplace that embodies inclusivity and equity, ensuring that all employees are supported and valued. This approach signifies TTI's intention to inspire a culture of advancement and responsibility through measurable sustainability goals.

Access to TTI's ESG Reports

To keep stakeholders informed, TTI encourages interested parties to explore its latest ESG publications, emphasizing transparency in its sustainability journey. The company plans to release its 2024 ESG report in early 2025, showcasing its ongoing efforts and achievements in this field.

About Techtronic Industries

Founded in 1985 by Horst Julius Pudwill, TTI has emerged as a leader in cordless technology and a pioneer in various markets including Power Tools, Outdoor Equipment, and Floorcare. TTI serves a broad spectrum of customers from professional tradespeople to DIY enthusiasts, emphasizing innovation and quality in its products. With a dedicated workforce of over 50,000 globally, the company continues to be a significant player in its industry.

Brands Leading the Charge

TTI's professional tool offerings are headlined by the innovative MILWAUKEE brand, celebrated for its research and development initiatives. Other notable brands like RYOBI are also part of TTI’s expansive portfolio, focusing on providing quality tools for DIY projects. The company is also proud of its other brands, including AEG, EMPIRE, HOMELITE, and floorcare leaders like HOOVER, ORECK, VAX, and DIRT DEVIL.

Commitment to Governance and Community

TTI's reputable standing in the market is supported by its robust ownership structure, primarily held by the Pudwill family and institutional investors across North America and Europe. TTI is publicly listed on the Hong Kong Stock Exchange and is a critical component of the Hang Seng Index. The company consistently upholds high standards of environmental, social, and corporate governance, reinforcing its commitment to doing business ethically and sustainably.

Frequently Asked Questions

What is the UN Global Compact?

The UN Global Compact is the world’s largest corporate sustainability initiative, focusing on aligning business operations with universal principles in human rights, labor, environment, and anti-corruption.

Why did Techtronic Industries join the UN Global Compact?

TTI joined to reinforce its commitment to sustainable and responsible business practices, aligning its operations with international sustainability goals and improving stakeholder communication.

What are TTI's sustainability goals?

TTI aims to implement sustainable initiatives that promote inclusivity and equity within the workplace, while also addressing environmental impacts through measurable goals.

When will TTI's next ESG report be published?

TTI plans to release its 2024 ESG report in March 2025, detailing its sustainability efforts and achievements over the year.

What brands are owned by Techtronic Industries?

TTI’s brand portfolio includes prominent names like MILWAUKEE, RYOBI, AEG, EMPIRE, HOMELITE, and leading floorcare brands such as HOOVER, ORECK, VAX, and DIRT DEVIL.

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