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.
Environment
| Area of Long-Term Focus | Link to our Values | Why this is Important | 2021 Highlights |
|---|---|---|---|
| Safety | Safe and respectful workplace | We 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 technologies | Returns 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 |
Safety
Link to our Values
Safe and respectful workplace
Why this is Important
We work in the industrial sector where hazards must be safely managed
A workplace that is safe and productive and keeps/attracts employees
2021 Highlights
80% of locations achieved a TRIR of zero
Tied variable compensation of senior leaders to TRIR improvement
Operational footprint (emissions, water, waste, hazardous materials)
Link to our Values
Returns to all stakeholders
Social responsibility
Why this is Important
Responsible resource use is fundamental to efficient and compliant operations
It is a business requirement that is fundamental to our reputation
2021 Highlights
Total GHG emissions at 77,207 C02 equivalent tonnes (Scope 1, 2 and limited 3) at monitored locations
Sustainable products, services and technologies
Link to our Values
Returns to all stakeholders
Social responsibility
Why this is Important
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
2021 Highlights
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
Social
| Area of Long-Term Focus | Link to our Values | Why this is Important | 2021 Highlights |
|---|---|---|---|
| Training & development | Growth 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 & retention | Growth of the individual and enterprise | Skilled 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 & inclusion | Safe 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 stakeholders | Published our first Indigenous Engagement Report |
| Building relationships with Indigenous communities | Returns 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 |
Training & development
Link to our Values
Growth of the individual and enterprise
Empowerment at all levels
Why this is Important
We need skilled, knowledgeable employees to serve customers, address complex machine technologies and grow our business
To engage and develop employees
2021 Highlights
Delivered 100,000+ hours of learning and development
Recruitment & retention
Link to our Values
Growth of the individual and enterprise
Why this is Important
Skilled 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
2021 Highlights
Maintained average workforce tenure of 10+ years
Increased apprenticeship positions by 31% from 2020
Diversity, equity & inclusion
Link to our Values
Safe and respectful workplace
Growth of the individual and enterprise
Social responsibility
Returns to all stakeholders
Why this is Important
DEI enriches our culture, adds important perspectives, enlarges our accessible talent pool, and meets the expectations of all stakeholders
2021 Highlights
Published our first Indigenous Engagement Report
Building relationships with Indigenous communities
Link to our Values
Returns to all stakeholders
Growth of the individual and enterprise
Social responsibility
Why this is Important
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
2021 Highlights
Maintained joint ventures with Inuit, Innu and Cree First Nations to facilitate local skills development and investment
Targeted recruitment activities
Governance
| Area of Long-Term Focus | Link to our Values | Why this is Important | 2021 Highlights |
|---|---|---|---|
| Accountability and aligning executive compensation | Empowerment at all levels Growth of the individual and enterprise Returns to all stakeholders | Alignment allows us to effectively execute our strategies and engage/develop employees | Annual 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 |
| Ethics and Integrity | All values | It provides a framework for ethical, community-building behaviour | Annual confirmation by all employees |
| Paying our fair share of taxes | Uncompromising integrity Social responsibility | Paying our fair share of taxes ensures we contribute to the development, wellbeing and protection of our society and its critical infrastructure | 27.2% effective tax rate |
Accountability and aligning executive compensation
Link to our Values
Empowerment at all levels
Growth of the individual and enterprise
Returns to all stakeholders
Why this is Important
Alignment allows us to effectively execute our strategies and engage/develop employees
2021 Highlights
Annual 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
Ethics and Integrity
Link to our Values
All values
Why this is Important
It provides a framework for ethical, community-building behaviour
2021 Highlights
Annual confirmation by all employees
Paying our fair share of taxes
Link to our Values
Uncompromising integrity
Social responsibility
Why this is Important
Paying our fair share of taxes ensures we contribute to the development, wellbeing and protection of our society and its critical infrastructure
2021 Highlights
27.2% effective tax rate
Our 2021 Sustainability Report
