Sustainability Overview

Sustainability Vision and Goals

Our vision for sustainability at Dover is a sustainable innovation for every customer challenge. This vision helps guide our efforts across our portfolio of operating companies and a team of over 25,000 employees. We remain focused on operating sustainably to help meet the goals of our customers, realize the full potential of our employees by fostering a culture that supports and values their efforts, and strengthen the communities in which we operate.

Throughout our history, our commitment to corporate responsibility and sustainability has created significant value for Dover. In 2020, we began implementing a three-year plan to expand our Environmental, Social, and Governance (“ESG”) disclosures, metrics, goals, and 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 three-year plan, we launched this sustainability website to disclose key sustainability performance indicators, established a Sustainability Steering Committee to drive the integration of sustainability into business matters, and conducted a materiality analysismateriality analysis and ESG goal setting exercise which helped us identify and set goals on five strategic topics: Energy and Emissions, Innovation for Sustainable Products, Employee Health and Safety, Diversity and Inclusion, and Talent Attraction and Development.

We are proud to report that our 2030 climate action goals are approved by the Science Based Targets initiative (SBTi). We developed the emission goals and our other goals after rigorous discussion with key stakeholders and evaluation of technology-specific measures and have developed a roadmap with priority actions for each scope to achieve our goals.  We are committed to tracking our progress, renewing these and other sustainability goals as appropriate, and continually improving our performance in other ESG priority areas.

Our ESG areas of focus define the topics that are more important to our business and stakeholders such as shareholders, employees, suppliers, and customers. The results of the materiality analysis are available herehere. We plan to review and update our materiality analysis in 2023 to respond to the rapidly evolving sustainability landscape and changing stakeholder and business areas of focus.

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 priority 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, and a Task Force on Climate-Related Financial Disclosures (TCFD) Index. We also disclose key environmental impacts to CDP, responding annually to CDP Climate and CDP Water. We are committed to focusing on and making progress against ESG metrics and targets that are material to our business.