"Our ability to adapt to a changing world is more critical than ever, and as an engineering-focused organization, we are well equipped to do so," says Rich Kyle, president and CEO. "Engineering, as a discipline, provides us with the tools and thinking we need to help build a world that is both more efficient and more resilient. In 2019, we furthered our commitment to being transparent and accountable, measuring the progress we have made for the planet and people, and determining where we need to focus our efforts."
The 2019 Timken CSR Report introduces three focus areas the company has identified to measure and advance its CSR initiatives – growing knowledge, advancing sustainability and promoting leadership. Each focus area is aligned with the company's core competency as a global industrial leader to ensure it can make the most positive impact for all stakeholders:
Growing knowledge: focusing on the power of learning and diverse perspectives by investing in associate training and development programs that support a culture of learning; enhancing diversity and inclusion initiatives to encourage global, diverse viewpoints; and rewarding associates with strong wages and competitive benefits.
Advancing sustainability: leveraging the promise of a better tomorrow as the inspiration for today's innovations by engineering products that increase the energy efficiency of machinery and equipment; propelling the renewable energy sector; continuously improving industry-leading safety programs to protect associate health and safety; and embracing energy efficiency, pollution prevention, waste management and recycling programs at Timken facilities globally.
Promoting leadership: Upholding strong corporate governance principles and practices to promote the interests of the company and its stakeholders; operating ethically and responsibly; and building and investing in communities through associate and corporate-led giving, partnership and volunteerism.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $3.8 billion in sales in 2019 and employs more than 17,000 people globally, operating from 42 countries.