Energy and Emissions

At Dover, the management and use of environmental resources, including energy, is an essential part of our business. We are committed to conserving energy, using renewable energy, and continually improving the efficiency of our operations.

In 2010, as part of our commitment to reducing our impact on the environment, we set a target of reducing our overall energy and greenhouse gas (GHG) intensity by 20% by 2020 (indexed to net revenue). We are proud to report that we attained and well-surpassed our ten-year GHG intensity goal, achieving a 71% reduction in GHG intensity from 2010. To achieve this goal, our operating companies identified and worked to successfully implement hundreds of projects to reduce GHG intensity. We also began participating as a voluntary respondent to the CDP (formerly Carbon Disclosure Project) and have elevated our scores to an A- since we began reporting.

We also understand the climate challenges facing our society and the need for a shared effort in order to effectively address them. With this in mind, we are proud to announce our new 2030 greenhouse gas goals have been approved by the Science-Based Targets initiative (SBTi) (see below).

Dover’s 2030 GHG Emissions science-based targets

Dover commits to reduce our direct greenhouse gas emissions from operations (absolute Scope 1 and Scope 2 market-based emissions) 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 webpage annually through 2030.

Managing Our Impact

Due to the nature of our business, our energy consumption and GHG emissions derive from two main sources:

• ~1% of total GHG emissions stem from our business operations, which involve the use of combustible energy, including natural gas, diesel, propane, and fuel oil (Scope 1 emissions) and purchased electricity (Scope 2 emissions)
• ~99% of total GHG emissions are from downstream and upstream activities in our value chain, such as use of sold products, purchased goods and services, end of life treatment of sold products, transportation and distribution, investments, employee commuting capital goods, business travel, and fuel-and-energy related activities (Scope 3 emissions)

Our Director of Global Supply Chain is responsible for managing our energy consumption and GHG emissions reporting. Working closely with operational and financial representatives from Dover's operating companies, as well as corporate stakeholders, the Director of Global Supply Chain also coordinates our action plan to achieve energy and greenhouse gas reductions across our facilities worldwide. This group leads the implementation of Dover’s energy and greenhouse gas initiatives, monitors energy performance, and provides support, training, and tools for all of Dover’s operating companies in pursuit of energy efficiency and carbon reduction.

Energy Efficiency Initiatives That Help Us Meet Our Target

To aid our efforts to reduce our energy usage and GHG emissions we have implemented several energy projects to increase our energy efficiency. As of 2020, we have achieved a reduction of more than 200,000 tons of carbon dioxide equivalent (CO₂e) emissions. These projects have included:

• HVAC improvements, such as programmable thermostats
• Lighting retrofits
• Compressed air improvements, such as new compressor systems
• Behavioral improvements, such as shutting down machinery at night
• Process upgrades, including machinery and technology

We also use renewable energy in several of our company sites resulting in about 6% of our total energy and 10% of our electricity use coming from renewable sources.

Together, these initiatives helped us achieve a 71% reduction in our GHG intensity in 2020 compared to our 2010 baseline. This is over triple our original GHG emissions goal for 2020.

Measuring Our Performance

We measure our Scope 1 and 2 emissions¹ by gathering environmental data² from our worldwide facilities. This includes GHG emissions associated with the fuels and refrigerants we use for heating and cooling our buildings and driving our fleet vehicles (Scope 1 emissions), as well as the electricity we purchase to power our operations and buildings (Scope 2 emissions).

For our upstream and downstream activities, we work with third-party organizations to estimate emissions relevant to our value chain (Scope 3 emissions). Our energy and GHG metrics are verified by a third party before being disclosed in our sustainability webpages and annual CDP submission.

Reporting to CDP

In 2021, we are proud to report that Dover received a CDP score of an A- for the first time. This is higher than the global average of B- and the powered machinery sector average of C. For more information on our annual CDP Climate response, please see our Reports and Disclosures page for our latest CDP Climate response and score report.