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Gates Releases 2024 Corporate Sustainability Report

On August 6, 2025, Gates (NYSE: GTES), a leading global manufacturer renowned for its innovative power transmission and fluid power solutions, released its 2024 Sustainability Report. This comprehensive document outlines the company's commitment to sustainability, framing it as a vital component that drives innovation, enhances stakeholder trust, and bolsters long-term performance.

Key Highlights from the 2024 Sustainability Report

Governance

Gates has reinforced its governance framework by enhancing its data management, governance, and cybersecurity protocols. These improvements are designed to safeguard stakeholder confidence while also supporting company-wide initiatives. A notable initiative is the enhancement of the supplier onboarding process, ensuring that responsible practices are communicated and expected at every level within the supply chain.

Technology

The report emphasizes Gates' innovative technology that redefines product circularity. In an impressive stride towards zero waste, the company successfully diverted 100% of rubber waste from landfills across 21 facilities and remanufactured 32% of rubber scrap in 2024. This achievement underscores Gates' dedication to continuous innovation, evidenced by the awarding of 132 patents within the year, significantly propelling its Eco-Innovation™ efforts. The company's advancements aim to produce solutions that are not only lighter and more effective but also environmentally friendly.

Environment

Gates has made considerable strides in participating in the global renewable energy transition. A key achievement in 2024 was an increase of 6% in renewable energy use, achieved through strategic investments that included developing onsite solar energy capabilities and acquiring renewable energy credits (EACs).

Stewardship

Focus on employee development remains paramount, as highlighted in the report. Gates has significantly expanded its training and mentorship programs, witnessing a remarkable 160% increase in participant numbers compared to the previous year. The company offers an on-demand learning library alongside practical opportunities for individuals to enhance their skills, thus fostering strong careers while promoting community engagement.

CEO Statement

"At Gates, sustainability is not only a responsibility but also a catalyst for innovation and long-term value creation," stated Ivo Jurek, the company’s CEO. He emphasized the importance of disciplined execution in achieving measurable impacts, asserting that efforts towards material science advancements, waste reduction, and employee empowerment are pivotal in demonstrating that sustainability and performance can go hand in hand.

Reporting Standards

Gates' sustainability reporting is structured in alignment with several recognized standards, including the International Financial Reporting Standards (IFRS) Foundation, the Sustainability Accounting Standards Board (SASB), and the Task Force on Climate-related Financial Disclosures (TCFD). Additionally, the report is informed by the Global Reporting Initiative (GRI) and the United Nations Sustainable Development Goals (SDGs).

For more information, the complete Gates 2024 Sustainability Report is accessible at gates.com/sustainability.

About Gates

Founded more than a century ago, Gates Industrial Corporation plc is acknowledged as a global leader in manufacturing high-quality power transmission and fluid power solutions. The company offers a diverse range of products across numerous sectors, including automotive, energy resources, and industrial markets, serving clients in over 130 countries worldwide. More details about Gates can be found at www.gates.com.