Updates on 13 sustainable ESG management goals

Focus on reducing greenhouse gas emissions and fostering STEM fields

Otis Worldwide Corporation (NYSE: OTIS, hereinafter Otis) announced that it has published its first ESG (Environmental, Social, and Governance) report as an independent, publicly traded company.

Otis's ESG report contains updates on 13 ESG management goals aligned with the United Nations' Sustainable Development Goals. It discloses information on the GRI (Global Reporting Initiative) standards, SASB (Sustainability Accounting Standards Board), and TCFD (Task Force on Climate-Related Financial Disclosures) frameworks. Otis is a world-leading company in the manufacturing, installation, and servicing of elevators and escalators.

Judy Marks, CEO and Chair of the Board of Directors of Otis, said, "Otis's vision is for people to advance while staying connected in a taller, faster, and smarter world," adding, "Otis's first ESG report expands Made to Move Communities™, Otis's social contribution program that focuses on reducing greenhouse gas emissions and fostering STEM (Science, Technology, Engineering, and Mathematics) fields."

She continued, "It demonstrates how we put our vision into action and realize our purpose, including by advancing our Diversity, Equity & Inclusion organizational culture programs worldwide," and added, "Otis's ESG is embedded in these programs as well as in our strategy and culture. We are continuously advancing these initiatives to enhance value for all stakeholders."

Following a materiality assessment conducted last year to identify the ESG topics most important to the company and its stakeholders, Otis established measurable goals and strategic action plans centered on four ESG focus areas: health and safety, environment and impact, people and communities, and governance and accountability. By the end of 2021, Otis had made the following progress on each of its ESG goals.

▲Completed ISO 14001 certification (ISO: International Standard Environmental Management System) for all Otis factories worldwide, four years ahead of the target ▲Reduced Scope 1 (direct emissions) and Scope 2 (indirect emissions) greenhouse gas emissions by 7% compared to the 2019 baseline: Otis's goal is to reduce Scope 1 and Scope 2 emissions by 50% by 2030

▲Achieved its annual goal of delivering 100% of Otis's life-saving Cardinal Rules safety training to Otis field employees and partner companies ▲78% of Otis employees worldwide used the Employee Assistance Program, with a goal of reaching 100% by 2022

▲Women make up 36% of Otis employees worldwide, with a gender equality goal at the executive level by 2030 ▲Spent more than 20% of its supplier spending in the U.S. on diverse suppliers: a diverse supplier refers to a company owned by minority groups, or a small business or a company operating in an economically disadvantaged area ▲In addition to these achievements, in 2021 Otis joined the UN Global Compact, completed its first CDP (Carbon Disclosure Project), and carried out the second year of the Made to Move Communities program

Meanwhile, the full text of Otis's ESG report can be found on the official Otis website and the Otis investor information website.