The Company is committed to empowering change on its sustainability journey. Every Littelfuse employee, customer, and partner has the potential to drive positive change – environmentally, socially, and ethically. Together, we’re shaping a future defined by sustainable choices and conscientious actions.
Sustainability is more than just a concept; it’s integrated into the Company’s business strategy, processes, and daily actions. Innovation and collaboration are at the heart of its sustainability journey. Accordingly, the Company is positioned within the global sustainability megatrend to enhance our product offering to help empower a sustainable, connected, and safer world. Many of the Company’s key end markets are linked to sustainable applications such as electric vehicles and charging infrastructure, renewable energy, and power management.
The Nominating and Governance Committee of our Board of Directors provides oversight of our Sustainability Program and approves our annual sustainability report. Additional governance best practices are in place to support our sustainability program journey, including:
| ⯀ | Regular Nominating & Governance Committee and/or Board updates. |
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| ⯀ | Sustainability program oversight by our Chief Legal Officer includes quarterly review of sustainability program progress and approval of overall strategy. |
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| ⯀ | Regular sustainability steering committee meetings to drive sustainability initiatives and progress. |
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| ⯀ | Global ESG Policy that includes a commitment to publish annual ESG Reporting to stakeholders. |
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| ⯀ | Robust environmental, social and governance policies that serve as a strong foundation to ensure the health and safety of associates, respect for the environment and adherence to the highest ethical standards. |
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The Company publishes an annual Sustainability Report to communicate our commitment, approach, and impact on each of our focus areas. The 2022 Sustainability Report, published in July 2023, was prepared in alignment with the GRI Standards – 2021, the Sustainability Accounting Standards Board (“SASB”), and outlines our governance, strategy, risk management, and metrics identified in the Task Force on Climate-Related Financial Disclosures (“TCFD”) recommendations. The following goals have further been established, and progress is reported on an annual basis in the Sustainability Report:
| ⯀ | Reduce Scope 1 and 2 Greenhouse Gas Emissions 38% by 2035, based on a 2019 baseline – in line with keeping global temperatures well below 2" above pre-industrial temperatures. |
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| ⯀ | Achieve zero waste in operations. |
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| ⯀ | Aspire to increase diversity to have at least 25% female leaders by 2026 and at least 5% Black and African American employees in the U.S. by 2026. |
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| ⯀ | Achieve zero accident workplace. |
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| ⯀ | Achieve 100% Code of Conduct training. |
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| ⯀ | Elevate product stewardship as a competitive advantage. |
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Information regarding our progress towards these initial goals, and on how we manage our material topics is available in the latest Sustainability Report, located on our website at https://www.littelfuse.com/about-us/sustainability.aspx. The contents of the Company’s Sustainability Reports and website are not incorporated by reference in this Proxy Statement.
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