Sustainability and Corporate Social Responsibility at Techtronic Industries North America

At TTI, sustainability is a core value in all aspects of our business. ESG principles are essential to our strategy, and embedded in our four strategic drivers, through which we strive to deliver shared value to all our stakeholders.

We have made important strides throughout the year to build our sustainability values into the culture at TTI, and we are progressing well on our ESG journey. We are examining how we design, source, manufacture, distribute and recycle our products to reduce our carbon footprint and ensure the long-term sustainability of our governance and business model.

TTI’s determination to be a leader in sustainability is not just because it is a requirement, but because it is our responsibility and the right thing to do. Two areas we would like to highlight this year are the continued improvement in our corporate governance and the establishment of environmental targets. Sustainability is woven into our culture from the ground level of our operations all the way up to the Board. In doing so, we plan to continue to heavily invest in our people and clean technology. As a leader in our industry, we have set ambitious goals for our future performance and the standard for what it means to be an exceptional global organization.

Corporate governance plays an important role in maintaining sustainability. The Board continuously monitors, reviews and develops the policies and practices of corporate governance to ensure the compliance of the laws, rules and regulatory requirements governing the Group as well as the Company’s Articles of Association.

Environmental Sustainability

Our approach to environmental sustainability is closely tied to our quest for innovation. Since our early days, we have aimed to embed disruptive technologies into our products, delivering cordless, battery powered alternatives and energy-efficient options. TTI is not only committed to managing our impacts across our product range but also our global operations and value chain. We accomplish this by conserving resources, maximizing efficiencies and prioritizing innovation. By setting clear targets that keep us accountable and encouraging everyone — employees, suppliers, customers and communities — to do things differently, we strive to lead and effect positive change.

Innovation is embedded in TTI’s cultural DNA. We have been designing energy efficient products for decades, starting with battery technology as early as 1994. In subsequent years, we have also developed products that generate low-carbon emissions and reduced noise while in use, as well as LED lights.

With environmental impact being a key consideration of our product design principles, various teams across the Group have been collaborating to create a Sustainable Design Guide for our products. The Guide utilizes information from life cycle assessments that have been conducted on our key product categories since 2018 as well as GHG footprint analyses. It will allow us to develop more products that meet EHS objectives while aligning with the principles of circular economy.

Community Impact and Philanthropy

Our investment in community programs continued to be a priority in 2021. We contributed US$1.9 million in cash donations to projects in this period. Our ESG Working Committee and HR departments across the globe play an active role in reviewing the progress of our community efforts, ensuring that investment projects are well implemented, aligned with the Company’s strategy and meeting our goals. Our focus remains on a number of important causes including good health and wellbeing, human rights, poverty alleviation, improving infrastructure and reducing inequalities. In addition, we continue to contribute to the protection of local environments, disaster relief projects, promoting women’s rights and education, and inspiring younger generations to develop careers in technology.

Support for these and other community challenges and opportunities takes the form of collaboration with NGOs, providing financial support, donation of tools and employee volunteering. Community project selection occurs through structured programs, annual commitments and engagement. Employees are encouraged to volunteer using paid working hours for this purpose.

Our investment in community programs continued to be a priority in 2021. We contributed US$1.9 million in cash donations to projects in this period. Our ESG Working Committee and HR departments across the globe play an active role in reviewing the progress of our community efforts, ensuring that investment projects are well implemented, aligned with the Company’s strategy and meeting our goals. Our focus remains on a number of important causes including good health and wellbeing, human rights, poverty alleviation, improving infrastructure and reducing inequalities. In addition, we continue to contribute to the protection of local environments, disaster relief projects, promoting women’s rights and education, and inspiring younger generations to develop careers in technology.

Support for these and other community challenges and opportunities takes the form of collaboration with NGOs, providing financial support, donation of tools and employee volunteering. Community project selection occurs through structured programs, annual commitments and engagement. Employees are encouraged to volunteer using paid working hours for this purpose.