ESG Areas of Focus

Throughout our history, Dover's commitment to corporate responsibility and sustainability has created significant value. Across our portfolio of operating companies and a team of over 23,000 employees, we remain focused on operating and innovating sustainably to help meet the goals of our customers, realize the full potential of our employees through a culture that supports and values their efforts, and make the communities in which we operate stronger.

Please select a topic to explore our commitments and initiatives in more detail below.

* Dover progress information to be provided on these topics in 2021-2022

Sustainability Commitment

We are proud of our longstanding commitment to sustainability and we are dedicated to integrating sustainability into our business strategy and operations. We are pursuing sustainability initiatives that support our employees, customers, and communities to ensure our businesses continue to create long-term value for our shareholders.

In 2020, we began implementing a three-year plan to expand our Environmental, Social, and Governance (“ESG”) disclosures, metrics, goals, and governance oversight. This journey commenced after extensive dialogue with our stakeholders and with the strong support of and collaboration with our Board of Directors. As part of our evolving strategy, we intend to deploy ESG-related goals and key performance indicators across our business, and to report on material goals and our performance results.

Our ESG areas of focus serve as the framework for evolving these goals and metrics to measure our future performance. They also influence our approach to product creation and innovation, environmentally sustainable operational practices, supply chain management, attracting, retaining, and protecting our people, optimizing our community impact, and fostering a culture of integrity and accountability.

We are proud to report that we met our publicly stated 2020 greenhouse gas (GHG) and energy reduction goals ahead of schedule and that our new 2030 energy and emissions goals have been approved by the Science Based Targets Initiative (see below). We are committed to renewing these and other sustainability goals and continually improving our performance in other ESG priority areas.

Message from the CEO

Richard Tobin

Our commitment to sustainability comes from the top. Read our message from the CEO, Richard Tobin here.

2020 Sustainability Highlights

See a five page summary highlighting key initiatives and performance metrics from our sustainability activities to date here.

2020 Sustainability Highlights Thumb

GHG and Energy Intensity Reduction

Energy Intensity Chart

Energy Intensity Chart

 

Energy and Emissions Goals

Dover has set new 2030 energy and emissions goals. Our goals are approved science-based targets1 in line with a well-below 2°C trajectory. Dover commits to reduce our direct greenhouse gas emissions from operations (Scope 1 and 2) 30% by 2030 from a 2019 base year and reduce our indirect (Scope 3) emissions 15% by 2030. We will report progress against these goals on our Energy and emissions webpage later this year and annually through 2030.

Graphic showing 2030 target data

Materiality Analysis

In early 2020, we conducted a materiality analysis to identify and prioritize the ESG areas of focus that are the most important to our business and stakeholders such as shareholders, employees, suppliers, and customers. The results of the materiality analysis are available herehere.

The analysis began with developing a list of relevant ESG topics from internal and external resources, including our strategic focus areas and long-term business plan, topics reported by peers, and those identified as material by industry standard setters. We also considered feedback received from investors on sustainability matters solicited during our engagement efforts. We used those topics to guide interviews with a wide variety of our business leaders, including representatives from our operating companies as well as human resources, supply chain, legal, investor relations, and operations to consider the perspectives of our most important stakeholders such as our shareholders, employees, suppliers, and customers.

The findings from the materiality analysis were used by our Sustainability Steering Committee to identify the ESG topics that are most critical to our company. We view the results of the materiality analysis through the lens of our long-term strategic plan and values in order to help support the prioritized allocation of resources. For each sustainability topic, we are applying our resources, expertise, and innovation to improve outcomes and drive results. These ESG areas of focus will guide our sustainability strategy moving forward and will help to promote clear and transparent reporting of ESG matters to our shareholders, customers, employees, suppliers, and broader communities.

Our Sustainability Reporting Approach

The results of our materiality analysis provide a roadmap for the ESG areas of focus that will receive enhanced investment as part of our sustainability strategy. Following the launch of our refreshed sustainability webpage we published indices using the Sustainable Accounting Standards Board (SASB) reporting framework and key Global Reporting Initiative (GRI) indicators. We are committed to focusing on and making progress against ESG metrics and targets that are material to our business.

About Us

As a diversified global manufacturer and solutions provider, we leverage global scale, operational agility, world-class engineering capability, and customer intimacy to lead in the markets we serve. Our core strengths of ownership, entrepreneurship, and accountability fuel our ability to deliver cutting edge products and solutions to our customers.

We deliver innovative equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services through five operating segments:

Engineered Products delivers industry-leading equipment, components and software serving the vehicle service, environmental solutions and other end markets.

Fueling Solutions provides a comprehensive portfolio of high-quality and cutting-edge products and solutions for the retail fueling and other adjacent markets.

Imaging & Identification leads the design and manufacture of equipment, consumables and software, in addition to providing support services for the marking & coding and digital textile printing markets.

Pumps & Process Solutions creates performance-critical solutions and products for the safe handling of fluids across the chemical, hygienic, oil & gas and industrial markets.

Refrigeration & Food Equipment develops and supplies innovative and energy-efficient equipment and systems serving the commercial refrigeration, foodservice & beverage equipment and heating & cooling markets.

For more company information, please visit our About Dover page.

Dover Highlights

18 Operating Companies

$7b Revenue in 2019 Graphic

Employee Redefining Graphic

 

1 To learn more about science-based targets, visit https://sciencebasedtargets.org