Trimble Releases 2022 Sustainability Report

News provided by

Aug 31, 2023, 08:00 ET

Latest Report Demonstrates Trimble's Continued Commitment to "Shaping a Sustainable Future" Through Building Resilience, Empowering People and Leading with Integrity

WESTMINSTER, Colo., Aug. 31, 2023 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today the publication of its 2022 Sustainability Report, featuring progress and milestones as part of its sustainability strategy.

Trimble Releases 2022 Sustainability Report

Built around the company living its values and mission of transforming the way the world works, the report features how Trimble is "Shaping a Sustainable Future" for our planet and the communities we serve. Trimble is also introducing a new way of communicating about its Environmental, Social and Governance (ESG) commitments—Building Resilience, Empowering People and Leading with Integrity—that reflect Trimble's approach to sustainability as part of its business strategy.

2022 highlights include:

Trimble published its first report aligned with the Task Force on Climate-Related Financial Disclosures (TCFD), a globally recognized reporting framework, which provides stakeholders with critical information on our operational climate risks and opportunities.
Trimble implemented its executive long-term incentive program, adding a "People & Planet" modifier. This ensures that Trimble's executive compensation is aligned to its science-based carbon reduction and workforce diversity goals.
Trimble entered into a new five-year $1.25 billion revolving credit facility that will help drive progress for two of Trimble's sustainability commitments: reducing the company's Greenhouse Gas (GHG) footprint and increasing gender diversity with more female representation in the workplace.
Trimble made progress on its renewable electricity goal. The company is at 36 percent of its goal of 100 percent renewable electricity by 2025. Trimble has sourced energy from local producers in Germany, as well as from hydroelectricity plants in the US and on-site solar at several of our facilities worldwide.
Trimble is helping to shape the global leaders for tomorrow with 28 Trimble Technology Labs (TTL) across 14 countries on 5 continents. In 2022, we celebrated our latest TTL at Edinburgh Napier University (ENU) with an inaugural Trimble TTL Conference. It welcomed more than 50 leading construction, geospatial and natural resources academics from around the world to participate in knowledge exchange and community building.

The report summarizes Trimble's sustainability initiatives and performance, highlighting the company's sustainability approach; end-user industry solutions; community philanthropy through its Trimble Foundation Fund; employee engagement and development as well as Diversity, Equity and Inclusion (DEI) initiatives; and governance. The report's data aligns with the Sustainability Accounting Standards Board (SASB) standards for Electrical and Electronic Components and Software and IT Services. It also aligns with the United Nations Sustainable Development Goals (UN SDGs).

About Trimble

Dedicated to the world's tomorrow, Trimble is a technology company delivering solutions that enable our customers to work in new ways to measure, build, grow and move goods for a better quality of life. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products and enterprise lifecycle solutions to industry cloud services, Trimble is transforming critical industries such as construction, geospatial, agriculture and transportation to power an interconnected world of work. For more information about Trimble (NASDAQ: TRMB), visit: www.trimble.com.

Safe Harbor

Certain statements made in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements include, but are not limited to statements relating to our sustainability strategy, priorities and goals, targets, commitments and plans, as well as our expectations regarding the timing of meeting those goals, targets, commitments and plans. Actual results could vary materially from these forward-looking statements based on a number of factors and risks, including, but not limited to: third-party cooperation with our sustainability plans; the cost of attaining our targets, which may increase significantly causing us to reassess or delay achievement of our goals; the challenges associated with monitoring and quantifying achievement of our targets; the impact of continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; and the risk factors detailed from time to time in reports filed with the SEC, including our quarterly reports on Form 10-Q and annual report on Form 10-K. Undue reliance should not be placed on any forward-looking statement contained herein. These statements reflect the Company's position as of the date of this release. The Company expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in the Company's expectations or any change of events, conditions, or circumstances on which any such statement is based.

GTRMB

SOURCE Trimble