SOURCE: Cummins Inc.
DESCRIPTION:
Global power leader Cummins Inc. was honored recently by Prince Charles as one of 45 inaugural recipients of the Terra Carta Seal, which recognizes companies for their commitment to sustainability and decarbonization.
Speaking just a short distance from the COP26 global climate summit in Glasgow, Scotland, the Prince of Wales on Wednesday (Nov. 3) called on businesses to take a leadership role addressing the world’s climate challenges.
“The Terra Carta Seal recognizes those organizations which have made a serious commitment to a future that is much more sustainable, and puts Nature, People and the Planet at the heart of the economy,” Prince Charles said. “We all need to make changes if we are to preserve the planet for our children and grandchildren and these businesses have pledged to make it easier for us all to do so.”
Inspired by the Magna Carta, the medieval document that remains an important symbol of liberty around the world, the Terra Carta is a recovery plan for the planet that serves as the guiding mandate for The Prince of Wales’ Sustainable Markets Initiative (SMI). The initiative seeks to establish a global forum for industries to restructure their operations in a way that protects the world’s natural resources.
The Sustainable Markets Initiative says the seal is awarded to companies who hold a leadership position within their industry and have “credible transition roadmaps to reduce their impact on the environment, including the carbon they produce, underpinned by globally recognized, scientific metrics for achieving net zero emissions by 2050 or earlier.” The initiative plans to honor recipients annually as companies join the effort.
“As the Terra Carta recognizes, sustaining a vibrant economy while using fewer of the earth’s resources is the challenge of our time,” said Cummins Chairman and CEO Tom Linebarger. “Our mission of making people’s lives better by powering a more prosperous world requires a healthier planet, and it will take all of us working together to solve the world’s climate challenges. Being part of the Sustainable Markets Initiative is both a great honor and a great responsibility.”
As part of its approach to environmental stewardship, Cummins aspires to be carbon neutral by 2050. The company is working to reduce the carbon impact of its diesel and natural gas platforms while bringing to market innovative no-carbon technology, including battery and fuel cell electric. Cummins has also quickly emerged as a leader in the manufacture of electrolyzers critical to the production of green hydrogen, a promising no-carbon fuel.
KEYWORDS: NYSE:CMI, Cummins, Cummins Inc., Prince Charles, decarbonization, Terra Carta Seal
