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.

These processes are informed by our own operational analysis, leveraging professional expertise as appropriate. We also engage with our key stakeholders including customers, suppliers, employees, shareholders as well as governance advisors and regulators to understand their perspectives and priorities. These areas are outlined in the tables and sections that follow.

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.

Our sustainability pillars and focus areas

Sustainability risks and opportunities

Climate change and environment

Toromont has an opportunity to meet customers’ needs for environmentally sustainable products and services including energy-efficient equipment as the world transitions to a lower carbon economy. We also face risks as demand for certain existing products and services may change and diminish over time. Toromont is responding through the expansion and evolution of product and services offerings that address changing customer needs and preferences.

Toromont faces climate change regulatory risk that could impact our operating costs. This includes but is not limited to carbon pricing. Toromont’s current costs of compliance, including under Federal and Provincial carbon tax regimes are not material and we do not currently anticipate any material expenditures will be necessary to ensure future compliance with more stringent GHG regulations. Toromont also faces compliance risk related to environmental laws and regulations which vary across our territories. We manage risks through our compliance efforts. To the extent more stringent regulations are enacted, Toromont intends to continue to address them in a proactive manner.

Climate-change events can pose physical risks to our operations – which serve markets throughout North America – and to the operations of our customers. Our footprint of ~160 locations diversifies this risk but does not eliminate it. Accordingly, we operate with business continuity plans. We do not currently expect physical risks to our facilities to add costs that are material to our business.


Toromont’s first core value is to maintain safe and respectful working conditions. By doing so, we create the foundation for growth. We depend on skilled labour, professionals and effective leaders to serve our customers and grow our business. Through detailed planning, smart investments, and ongoing communications, we enhance our ability to attract, develop, retain and engage a healthy and committed workforce.


Good governance is a requirement for long-term growth, the success of our business, protection of Toromont’s assets and ability to contribute to our world in an ethical and responsible manner. Our Board of Directors is focused on providing good governance by understanding and applying best practices, including in the areas of leadership accountability and compensation.


Our sustainability approach is grounded in Toromont’s values:

  • Safe and respectful workplace
  • Social responsibility
  • Uncompromising integrity
  • Empowerment at all levels
  • Growth of the individual and enterprise
  • Returns to all stakeholders

Our Board sets the tone for responsible management and behaviours that are aligned to our values by providing guidance and active oversight of our approach to sustainability.


FOCUS AREA: Operational footprint (emissions, water, waste, hazardous materials)

WHY IT’S IMPORTANT: Responsible resource use is fundamental to efficient and compliant operations and is a business requirement that is essential to our performance and reputation as an employer, service provider and community member.

56,500 CO2

equivalent tonnes (Scope 1 and 2) were emitted in 2023 from measured operations


trees were planted in the Toromont Forest managed by Tree Canada under our One Year One Tree recognition program for new employees

Low waste

programs along with various forms of recycling, and the use of paperless reporting helped to reduce our environmental footprint


recycling systems were employed at 17 Battlefield locations with plans formed to grow these capabilities

FOCUS AREA: Sustainable products, services and technology

WHY IT’S IMPORTANT: Customers are striving to meet their sustainability targets and Toromont needs relevant, reliable solutions in order to grow our business and meet the expectations of all stakeholders as a contributor to a greener planet.


of revenue was generated in 2023 by providing product support for our customers, 11% more than in 2022


of Toromont Cat’s installed base consists of connected assets that we monitor for customers to help them track fuel efficiency, manage GHG emissions and extend lifecycle machine usage


of CIMCO’s 2023 capital project order bookings use natural, non-ozone depleting refrigerants

FOCUS AREA: Circular economy

WHY IT’S IMPORTANT: Used equipment and components can be rebuilt, repaired and exchanged multiple times. Similarly, rental equipment can be reused repeatedly. By participating in the circular economy, we can reduce landfill waste and the energy expended in original manufacturing, while addressing customers’ business needs and sustainability goals and generating revenue for Toromont.


year-over-year increase in the ratio of remanufactured components to total parts sales in 2023


sq ft new Remanufacturing facility will open in Bradford, Ontario in the second quarter of 2024


revenue growth was generated from the provision of used and rental equipment in 2023 over 2022

Read more in detail in our 2023 Sustainability Report (PDF 8 MB)


FOCUS AREA: Health and safety

WHY IT’S IMPORTANT: We work in industrial sectors where hazards must be safely managed and we believe that taking a holistic approach to the physical, mental and financial health and wellbeing of our employees and the wellbeing of our communities is a key driver of corporate sustainability.


of Toromont’s locations achieved a Total Recordable Injury Frequency Rate of zero in 2023 and our TRIR improved by 25% over 2022


Toromont leaders now have Mental Health Certification training (including 98 in 2023) to provide coaching to their teams


of our workforce participated in the Toromont Employee Share Purchase Plan in 2023

United Way

was once again the chief beneficiary of our community outreach and Toromont was recognized as a Local Leader in the Greater Toronto Area

FOCUS AREA: Building capacity


WHY IT’S IMPORTANT: There is a competitive and undersupplied market for the talent that we need to grow our business and serve customers in all geographic territories in which we operate.


growth in our technician and apprentice population year over year


Our total workforce increased by 5% in 2023 compared to 2022

Learning and development

WHY IT’S IMPORTANT: We need to ensure our workforce remains capable of providing superior customer service and continues to build the knowledge and skills to work with our latest products and technologies.


hours devoted to workforce training in 2023 including safety, technical, and professional skills development


or Toromont Learning Academy is our inhouse platform for the delivery of technical training

Retention and engagement

WHY IT’S IMPORTANT: Skilled workers are in short supply, competition for talent is intense and we must sustain our knowledge-based workforce in order to serve customers, grow our business and achieve our ESG aspirations.

~8 years

is the average tenure of Toromont employees in 2023 while our workforce grew 5%

12 years

is the average tenure of our senior leadership team

Diversity, equity and inclusion

WHY IT’S IMPORTANT: DEI enriches our culture, adds important perspectives, enlarges our accessible talent pool including with Canada’s Indigenous peoples, and meets the expectations of all stakeholders.


of our Board members are women


of Toromont’s senior management team members are women


Long-standing participant in the federal government’s Employment Equity Program

Read more in detail in our 2023 Sustainability Report (PDF 8 MB)


FOCUS AREA: Accountability and executive compensation

WHY IT’S IMPORTANT: Alignment allows us to effectively execute our strategies and engage/develop employees.


our Long-Term Incentive Plan was created in 2022 with 3-year performance targets to further align the interests of public shareholders and Toromont’s business leaders

Annual bonus

opportunities for senior leaders are tied to safety results and other important ESG outcomes

FOCUS AREA: Code of Conduct

WHY IT’S IMPORTANT: It provides a framework for ethical, community-building behaviour.


of Toromont employees read and sign our Code of Conduct

FOCUS AREA: Cybersecurity and data privacy

WHY IT’S IMPORTANT: Our employees increasingly interact with customers and partners through information technology and we must protect the security and privacy of those communications to build trust and protect our reputation.


of employees received mandatory training in IT security awareness

FOCUS AREA: Paying our fair share of taxes

WHY IT’S IMPORTANT: Paying taxes ensures we contribute to the development, wellbeing and protection of our society and its critical infrastructure.


was our effective tax rate in 2023

Read more in detail in our 2023 Sustainability Report (PDF 8 MB)

Our Code of Conduct provisions includes requirements to:

  • act with the utmost integrity at all times
  • respect all human rights in the environments in which we operate, including respecting the rights of Indigenous peoples and the right of employees to collectively bargain
  • uphold all laws including international anti-corruption and trade regulations
  • promote diversity, equity and inclusion
  • protect and positively contribute to environmental stewardship alone and in collaboration with customers and business partners
  • respect that we have a responsibility to the community and make a positive difference in the world through our actions