DUBLIN (May 1, 2023) – Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has released its 2022 Annual Report, environmental, social and governance (ESG) updates and additional year-in-review content, all available at www.allegion.com.
Digital Annual Report & More Updates
Allegion’s “Annual Report & More” microsite features a collection of digital updates on the company and its performance, including its 2022 Annual Report (Form 10-K); its 2023 Notice of Annual General Meeting of Shareholders and Proxy Statement; and President and CEO John H. Stone’s first annual letter to shareholders. The interactive webpages are found at www.allegion.com/annualreport.
In addition to the company’s performance, users can learn more about Allegion’s strategy, which focuses on building on its existing legacy, delivering new value in access, nurturing strategic partnerships and delivering excellent customer experiences – all guided by its vision of enabling seamless access and a safer world. They can also explore achievements, innovations and employee culture, including:
- Timeline of significant events during 2022 for Allegion and its brands, such as product, website and service introductions, major awards, M&A activity, leadership updates and community engagement.
- Graphics, videos and reports that highlight the year’s financial outcomes.
- Content that celebrates Allegion’s manufacturing history, operational footprint and shares employee voices from around the world.
- Corporate social responsibility updates and highlights on diversity, equity and inclusion (DEI) as well as ESG.
- Information about Allegion’s leadership team, company facts and the latest news.
“Commitment to accountability and transparency are priorities for Allegion,” said Stone, who joined the company in July 2022. “Our success is driven by strong values, category-leading brands and dedicated people. We want our stakeholders to have access to the information they need to fully understand our business, our culture and our vision for the future.”
Allegion has updated ESG goals and key performance indicators on the website at www.allegion.com/ESG and published its 2022 ESG Summary Report there, too. In the ESG web section, visitors find detailed information for each of the three pillars of ESG as well as the company’s Materiality Matrix, with details of the factors most important to Allegion’s business and key external stakeholders, including investors, customers, suppliers and community partners.
Key 2022 ESG highlights include:
- Water usage was reduced 12% compared to the 2020 baseline.
- Greenhouse gas emissions intensity was reduced 20% compared to the 2020 baseline.
- The use of carbon-free electricity has tripled since 2020 and is now at 14%.
- Employee engagement is at a nine-year high.
- 25% of people managers are women.
- The Board of Directors chair is independent and separate from the CEO.
- Annual executive incentive plan design includes an ESG scorecard component beginning in 2023.
Please see the Allegion ESG web section for more details on these highlights and how they are measured.
“We have a responsibility to keep our employees safe, operate sustainably, live up to our high ethical standards and serve the communities where we work and live,” Stone added. “We’re not just doing this to check a box. I’m proud of the progress we’re making and see first-hand the way that employee engagement and our commitment to sustainability have a direct connection to our strategy of enabling seamless access and a safer world.”
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding our strategy, ESG goals and ability to achieve these goals, the company’s business plans and strategy, and the company’s growth strategy. These forward-looking statements generally are identified by the words “believe,” “aim,” “project,” “expect,” “anticipate,” “project,” “estimate,” “forecast,” “outlook,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements. Undue reliance should not be placed on any forward-looking statements, as these statements are based on the company's currently available information and our current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties - many of which are beyond the company’s control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Important factors and other risks that may affect the company's business or that could cause actual results to differ materially are included in filings the company makes with the Securities and Exchange Commission from time to time, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and in its other SEC filings. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. The company undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Allegion (NYSE: ALLE) is a global pioneer in seamless access, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $3.3 billion in revenue in 2022, and its security products are sold around the world.
For more, visit www.allegion.com.