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.

1

Environment

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

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

2

Social

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

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

3

Governance

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
Ethics and IntegrityAll 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

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