Techtronic Industries Affirms Commitment by Joining the UN Global Compact

Techtronic Industries Joins the UN Global Compact

In a significant move towards sustainability, Global cordless power tool and outdoor equipment leader, Techtronic Industries Co. Ltd., known as TTI, has officially joined the United Nations Global Compact, a global initiative aimed at promoting corporate social responsibility and sustainable practices. This announcement, made on December 23, 2024, underscores TTI's commitment to aligning its business strategies with broader global efforts to foster sustainable development.

With over 25,000 participants spanning more than 160 countries, the UN Global Compact is hailed as the world's largest voluntary corporate sustainability initiative. TTI’s alignment with the compact is a resolute step in reinforcing its dedication to not only delivering high-quality products but also ensuring that these products are backed by responsible business practices.

TTI's CEO, Steve Richman, emphasized the company's long-standing commitment to sustainability. "As the industry pioneer in lithium-ion battery-powered, energy-efficient power tools and outdoor equipment, TTI takes pride in integrating sustainable practices into our business model. Our ESG reporting began in 2015, and by 2018 we aligned our goals with the UN Sustainable Development Goals," stated Richman. This initiative reflects the company's proactive approach towards addressing critical issues such as safety, noise reduction, supply chain transparency, and overall governance.

The company's decision to join the UN Global Compact signifies an official commitment to uphold the Ten Principles related to human rights, labor rights, environmental sustainability, and anti-corruption principles. TTI aims to report its progress annually, maintaining transparency and accountability through detailed disclosures in its ESG Report and on the Global Compact's website.

TTI is also focused on enhancing its sustainability initiatives by deepening its support for the UN’s Sustainable Development Goals (SDGs). The company is committed to fostering an inclusive workplace culture while setting clear measurable goals that guide its sustainability journey. Richman asserted that the company aspires to create a meaningful impact on both the industry and the environment by promoting practices that benefit all stakeholders involved.

Looking ahead, TTI’s 2024 ESG report is anticipated for publication in March 2025, which will showcase the advancements and ongoing initiatives the company is undertaking in the realm of sustainability. By consistently striving for improvement, TTI aims to affirm its position as a leader committed to innovative sustainable practices.

Founded in 1985 by German entrepreneur Horst Julius Pudwill, TTI has risen to global prominence in cordless technology, serving diverse markets including professional, industrial, DIY enthusiasts, and consumers. Boasting a workforce of over 50,000, TTI's commitment to quality and sustainability has manifested in its reputable brands, which include well-known names like MILWAUKEE and RYOBI.

TTI remains publicly traded on the Hong Kong Stock Exchange (stock code: HK0669) and is a constituent of the Hang Seng Index. The company's dedication to environmental, social, and corporate governance standards continues to reinforce its standing as a reliable provider of innovative solutions within the power tool industry.

In a time when businesses are increasingly held accountable for their environmental and social practices, initiatives like TTI’s joining the UN Global Compact provide a template for how corporations can take responsible steps towards contributing positively to the global community.

For those interested in more details about TTI’s sustainability efforts and its future directions, further information can be found on their dedicated ESG publications page available on their official website.