Sustainability Focus Areas

Sustainability Focus Areas

Based upon our sustainability risk assessments conducted as part of our strategic planning, annual business planning and enterprise risk program, we have identified the most important risk and opportunity areas that we currently believe will have the greatest impact on Toromont’s long-term sustainability and growth.

We are committed to advancing our approach in each area as part of our journey to continuously improve how we assess, articulate and make progress.

Area of Long-Term FocusLink to our ValuesWhy this is Important2021 Highlights
SafetySafe and respectful workplaceWe work in the industrial sector where hazards must be safely managed
 
A workplace that is safe and productive and keeps/attracts employees
80% of locations achieved a TRIR of zero
 
Tied variable compensation of senior leaders to TRIR improvement
Operational footprint (emissions, water, waste, hazardous materials)Returns to all stakeholders
 
Social responsibility
Responsible resource use is fundamental to efficient and compliant operations
 
 It is a business requirement that is fundamental to our reputation
Total GHG  emissions at 77,207 C02 equivalent tonnes (Scope 1, 2 and limited 3) at monitored locations
Sustainable products, services and technologiesReturns to all stakeholders

Social responsibility
To meet customer demands and grow our business
 
To engage employees and meet the expectations of all stakeholders
 
 Our most
significant contribution to a greener planet
Partnered with Caterpillar to advance the development and use of new technologies including battery electric vehicles in mining
 
Increased the number of connected assets in our territory
 
Rebuilt 90 machines, remanufactured 4,400 components
 
Introduced CIMCO Net Zero Naturally family of energy reducing, carbon offsetting refrigeration systems with natural refrigerants
 
Discontinued CIMCO sales of all high GWP (global warming potential) refrigerants
Area of Long-Term FocusLink to our ValuesWhy this is Important2021 Highlights
Training & developmentGrowth of the individual and enterprise
 
Empowerment at all levels
We need skilled, knowledgeable employees to serve customers, address complex machine technologies and grow our business
 
To engage and develop employees
Delivered 100,000+ hours of learning and development
Recruitment & retentionGrowth of the individual and enterpriseSkilled trades and preservation of our knowledge-based workforce are required to serve customers and grow our business
 
Competitive and undersupplied market for talent
 
To engage and develop employees
Maintained average workforce tenure of 10+ years
 
Increased apprenticeship positions by 31% from 2020
Diversity, equity & inclusionSafe and respectful workplace
 
Growth of the individual and enterprise
 
Social responsibility
 
Returns to all stakeholders
DEI enriches our culture, adds important perspectives, enlarges our accessible talent pool, and meets the expectations of all stakeholdersPublished our first Indigenous Engagement Report
Building relationships with Indigenous communitiesReturns to all stakeholders
 
Growth of the individual and enterprise
 
Social responsibility
We serve customers operating in or near Indigenous communities
 
It is our responsibility to build sustainable, mutually beneficial and collaborative relationships with Canada’s Indigenous peoples
Maintained joint ventures with Inuit, Innu and Cree First Nations to facilitate local skills development and investment
 
Targeted recruitment activities
Area of Long-Term FocusLink to our ValuesWhy this is Important2021 Highlights
Accountability and aligning executive compensationEmpowerment at all levels
 
Growth of the individual and enterprise
 
Returns to all stakeholders
Alignment allows us to effectively execute our strategies and engage/develop employeesAnnual bonus tied to personal objectives as well as company objectives including TRIR
 
Developed for introduction in 2022 a Long-term Incentive Plan tied to performance, including TSR and ROCE
Code of ConductAll valuesIt provides a framework for ethical, community-building behaviourAnnual confirmation by all employees
Paying our fair share of taxesUncompromising integrity
 
Social responsibility
Paying our fair share of taxes ensures we contribute to the development, wellbeing and protection of our society and its critical infrastructure27.2% effective tax rate