The ESG report highlights the company’s achievements in emissions reductions, diversity and inclusion, human rights, and ethical business operations.
Additionally, Northrop Grumman has released its Task-Force on Climate-related Financial Disclosures report, again highlighting its progress on climate-related governance, risk management, strategy, and metrics and targets since its first report was published in 2022.
According to a Northrop Grumman release, among the key achievements in ESG and climate-related actions made by the company during 2022 included the completion of the third year of its five-year diversity plan, with the rate of people of colour in leadership roles increasing from 28% in 2021 to 29% in 2022.
Northrop Grumman awarded $3.9bn to small business suppliers, representing 36% of the company’s total domestic spend. This report marks the 18th consecutive year that Northrop Grumman has exceeded the US Government’s 23% small business statutory goal.
The company has made progress on its sustainability goals by achieving an 11% reduction in greenhouse gas emissions, compared to 2019 and obtaining 10% of electricity from renewable sources.
Northrop Grumman announced next-generation environmental sustainability goals in 2022, where they announced various sustainability goals. Northrop Grumman is one of the leading defence companies in the ESG theme, according to GlobalData. In GlobalData’s thematic scorecards for defence, Northrop Grumman ranks 5 out of 5 on ESG.
“Northrop Grumman has the talent, technology, purpose and ingenuity to help our world become more sustainable, equitable and secure for everyone,” said Kathy Warden, chair, chief executive officer and president, of Northrop Grumman.
“By harnessing our technology leadership, we’ve also made strides to reduce our carbon, water and waste footprints and partnered with customers and suppliers to help them do the same to create a more protected world.”
Northrop Grumman’s ESG report and Task-Force on Climate-related Financial Disclosures Report demonstrate the company’s dedication to responsible business practices and sustainability.
This year, Northrop Grumman reported a sales increase of 3% in 2022 to $36.6bn, compared with $35.7bn recorded the previous year.