ESG at nVent
At nVent, we believe that safer systems ensure a more secure world.
The world’s infrastructure is becoming more electric, driven by technology and the need for more sustainable solutions. Whether it is the modernization of the power grid, rising demand for renewable energy, expansion of broadband or the shift to electric vehicles, these trends are driving the need for our innovative products and solutions.
ESG has been a critical part of who we are and how we have operated since the beginning of our company. At nVent, we focus our ESG efforts in three areas: People, Products and Planet. We have made meaningful progress across these pillars. These efforts will continue as we seek to reinforce our culture, develop innovative and sustainable solutions and do our part to combat global climate change.
Our ESG Goals
ESG is an essential part of our business strategy and we are dedicated to continuously improving our efforts. In 2021, we made progress in each of our focus areas. Within People, we increased diverse representation in our employee population and continued to build on our programs to develop, recognize and support our employees. In Products, we introduced long-term goals that will help us continue to deliver solutions that make a positive impact in one or more of our three ESG categories: Eco-Friendly Designs, Eco-Friendly Materials and End-User Safety. In Planet, we updated our goals to reflect the progress our teams have made in driving sustainability across nVent. Our new goals set an ambitious yet achievable path for our organization as we work to help protect natural resources and provide value to our customers and the communities where we live and work
Our 2025 People Goals
- Increase representation of women in management globally by 20%
- Increase representation of racially diverse U.S. professional employees by 25%
- Reach an employee safety total recordable incident rate of ≤0.50
Our 2025 Products Goals
- Reach >90% of products in our active New Product Introduction funnel with a positive impact in at least one of our three Products ESG categories by 2025
- Make product environmental data 100% digitally accessible to customers by 2025
Our 2030 Planet Goals
- Achieve 50% reduction in Scope 1 and Scope 2 greenhouse gas emissions
- Reach >25% renewable energy consumption
2021 ESG REPORT
We are pleased to announce our 2021 report, detailing the progress we have made over the course of the last year and introducing new goals and areas of focus for our organization. Highlights include:
- Reducing our Scope 1 and Scope 2 CO2 emissions by 15% relative to 2020
- Operationalizing ESG in our New Product Introduction Process
- Improving our safety culture – reducing our total recordable incident rate to 0.56
Good Governance and Business Ethics
At nVent, we believe that good governance sets the foundation for success, and it is key to driving our ESG strategy forward. For a description of our governance practices, see our Corporate Governance Principles, 2022 Proxy Statement, 2021 Form 10-K and Investors page. For more information about our ESG oversight and management, view our 2021 ESG Report.
Our six Win Right values reflect how we do business and how we interact with those around us. They are central to our success. Our values are reflected in our Code of Business Conduct and Ethics, which guides us every day. We are committed to upholding and protecting human rights, as outlined in our Global Human Rights Policy, and treating people with dignity and respect in the workplace and in the communities where we do business. Visit our Ethics and Compliance page to view our policies.
We are also diligent about selecting our suppliers, Our Global Supplier Guide and Code of Conduct prescribe expectations for providing safe and healthy working conditions, upholding high ethical standards and engaging in environmental responsibility.
EcoVadis Silver Sustainability Rating
nVent improved its overall score, placing it in the top nine percent of companies assessed in its industry and the 85th percentile of all companies assessed by EcoVadis.
Bloomberg Gender Equality Index
nVent was included in the 2022 Bloomberg Gender-Equality Index. This index tracks the performance of public companies committed to transparency in gender-data reporting.
50/50 Women on Boards Recognition
We are proud to have five women on our corporate board of directors, representing 50 percent of our corporate board seats. This gender diversity led to our recent recognition by 50/50 Women on Boards™.
Our ESG Stories
Environmentally Sustainability Considerations for Data Center Managers
As the data center industry develops and managers implement innovative new approaches that drive energy efficiency, taking action to reduce environmental impact often also leads to cost savings.
nVent Foundation Grant Will Help Rise Build More Individualized Employment Services
This year, the nVent Foundation recommitted to its ongoing support of Rise, a nonprofit organization dedicated to helping people with disabilities and other challenges find success in life.