Cummins Recognized as Sustainability Leader on Global, Regional Levels
COLUMBUS, Ind.--(BUSINESS WIRE)--
The Dow Jones Sustainability Index has named Cummins Inc. (NYSE:CMI) to its World index for the third year in row, recognizing the Company's continued commitment to economic, environmental and social leadership. This index represents the top 10 percent of the world's largest 2,500 companies in these corporate sustainability metrics.
In addition to the World Index, Cummins was also named to the North American index, which represents the top 20 percent in each sector.
The updated indices, based on Dow Jones' annual review, become effective with the opening of the equity markets on Sept. 24.
Cummins is one of the 11 U.S. companies among the 45 global members of the industrial goods and services sector on the World Index. In its annual review, the Dow Jones Sustainability Index analyzes companies in three broad categories - economic, social, and environment, counting for 22, 36 and 42 percent, respectively, of the total score in the industrial sector.
Specific issues considered include corporate governance, risk management, branding, climate change, supply chain standards, labor practices, corporate citizenship and philanthropy, employee development, environmental management systems, and environmental policy and procedures and the scope of their application.
"We are honored to be included among this elite group of companies that have demonstrated a commitment to sustainability issues," said Christine Vujovich, Vice President - Marketing and Environmental Policy. "Cummins strives to deliver value and excellence to all its stakeholders, whether they are investors, customers, employees, or the communities in which we live and work. We aim for continued improvement in these important sustainability areas, but this recognition is a sign that our efforts are headed in the right direction."
Cummins works hard to make improvements to its sustainable practices every year. For example, Cummins has committed to reducing its global greenhouse gas emissions by 25 percent as a percentage of net sales from 2005 to 2010, as part of its membership in the U.S. Environmental Protection Agency's (EPA) Climate Leaders Program. To meet this goal, Cummins has engaged the internal expertise of its environmental and facilities leaders to make energy assessments and improvements in its operations.
Dow Jones enlists the help of SAM Research in compiling its indices. Invitations to participate in the Index are sent to 2,500 companies worldwide; SAM Research analyzed approximately 1,100 companies through a combination of company-supplied and public information. The selection of index components follows a prescribed rules-based process and analysis is verified by an external auditor.
Note: Full details about the design philosophy, review methodology and index components are available at www.sustainability-indexes.com
About the Dow Jones Sustainability Index
The Dow Jones Sustainability Indexes are a cooperation of Dow Jones Indexes, STOXX Limited and SAM Group. The DJSI World was launched in 1999 as the world's first equity benchmark to track the financial performance of sustainability leaders on a global scale. In addition, the DJSI STOXX family was launched in 2001 to provide sustainability benchmarks for European portfolios and the North American Index was launched in 2005.
About Cummins
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves customers in more than 160 countries through its network of 550 Company-owned and independent distributor facilities and more than 5,000 dealer locations.
Cummins reported net income of $715 million on sales of $11.4 billion in 2006. Press releases can be found on the Web at www.cummins.com.
Information provided and statements in this release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, beliefs and intentions on strategies regarding the future. It is important to note that the company's actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to, general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in Cummins Securities and Exchange Commission filings.
Source: Cummins Inc.
Released September 12, 2007