Cummins Recognized for Environmental Practices by Newsweek Magazine.Company No. 91 among Fortune 500 in Magazine's First-Ever "Green" Survey COLUMBUS, Ind. -- Cummins Inc.'s (NYSE NYSE See: New York Stock Exchange : CMI (Computer-Managed Instruction) Using computers to organize and manage an instructional program for students. It helps create test materials, tracks the results and monitors student progress. ) efforts to minimize its environmental footprint and to reduce greenhouse gas greenhouse gas n. Any of the atmospheric gases that contribute to the greenhouse effect. greenhouse gas emissions helped the Company achieve a ranking in the top 20 percent of the 500 largest companies in United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. in Newsweek's inaugural "green" survey released recently. The magazine used publicly available data analyzed by two leading research firms and collected reputational information on all 500 companies in arriving at its ranking. Cummins placed seventh among 47 industrial goods industrial goods npl → bienes mpl de producción company. Technology companies dominated the top of the survey list with Hewlett-Packard ranked No. 1 and Dell, Intel and IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) all placing in the top five. The Newsweek ranking is the second sustainability-related recognition Cummins has received in recent weeks. In early September, Cummins was named to the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Sustainability Index for the fifth consecutive year. The index represents the top 10 percent of the world's largest companies rated by Dow Jones across a range of economic, environmental and social responsibility measures. Newsweek credited Cummins for its ambitious goal of reducing greenhouse gas emissions from its facilities worldwide by 25 percent as a percentage of sales from 2005-2010, as part of its voluntary commitment to the EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. Climate Leaders program. In addition, Cummins has become active in the climate change dialogue on a national level. The Company formed a Climate Change Working group in 2007 and early this year released its first set of Climate Change Principles, which will guide Cummins' actions and environmental policy efforts. Environmental stewardship The integration and application of environmental values into the military mission in order to sustain readiness, improve quality of life, strengthen civil relations, and preserve valuable natural resources. is a critical component of Cummins' mission, and the Company continues to carry out that mission, both by being a leader in clean diesel engine technology and continuously seeking ways to reduce the environmental impact of its facilities around the world. Some examples of how Cummins is carrying out its environmental mission include: * Cummins' 6.7 liter turbo diesel engine for the Dodge Ram pickup was the first engine to be certified to meet the EPA's 2010 standards for nitrogen oxides emissions - three years ahead of the deadline. * Cummins Diesel Recon recycles and reuses more than 50 million pounds of engine-related materials a year. * Cummins' new on- and off-highway engines are certified to run effectively on a 20 percent blend of biodiesel fuel. * Cummins powers all the new natural gas urban transit buses in the U.S. and powers more than 7,000 natural gas transit buses in China and India. * The Company's first "Unplugged Challenge" in late 2008, which encouraged employees to take simple steps to reduce electricity usage at Cummins facilities during a holiday shutdown period, resulted in a reduction of 7,000 tons of carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. emissions compared to the same period in 2007. * Cummins Power Generation received the Frost and Sullivan 2008 North America Product Quality Leadership award for its commitment to environmentally friendly product design and for creating a manufacturing process that enables its products to meet or surpass regulatory standards relating to noxious emissions and noise pollution. Editor's note: More information about Cummins' environmental policies and practices can be found in the Company's current Sustainability Report, which can be read and downloaded on-line at www.Cummins.com. Hard copies are also available by contacting Cummins' Corporate Communications department at the email address at the top of this release. About the Newsweek 'Green' rankings Newsweek worked with research partners to compile the rankings: KLD KLD Kullback-Leibler Divergence KLD Kullback-Leibler Distance KLD Këshilli I Lartë I Drejtësisë (Albanian: High Council of Justice) Research & Analytics, which tracks environmental, social and governance data on companies worldwide and served as lead partner; Trucost, which specializes in quantitative environmental performance measurement; and CorporateRegister.com, the world's largest online directory of social responsibility, sustainability and environmental reporting. The goal was to assess each company's actual resource use and emissions and its policies and strategies, along with its reputation among its peers. The 500 companies included in the ranking are the largest U.S. companies as measured by revenue, market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. and number of employees. The companies are broken out into 15 sectors, based on the FTSE/Dow Jones Industry Classification Benchmark The Industry Classification Benchmark (ICB) is a company classification system developed by Dow Jones and FTSE. It is used to segregate markets into sectors within the macroeconomy. (ICB ICB Integrated Conference Bridge (Nortel) ICB International Competitive Bidding (international procurement) ICB Individual Case Basis ICB Istituto di Chimica Biomolecolare (Italian) ). The GREEN SCORE for each company is based on three components: *The ENVIRONMENTAL IMPACT SCORE, based on data compiled by Trucost, is a comprehensive and standardized quantitative performance measurement that captures the total cost of all environmental impacts of a corporation's global operations. Over 700 variables are summarized in the EIS (1) (Executive Information System) An information system that consolidates and summarizes ongoing transactions within the organization. It provides top management with all the information it requires at all times from internal and external sources. . This figure is normalized against a company's annual revenues, so that companies of all sizes and industries can be compared. *The GREEN POLICIES SCORE, derived from data collected by KLD, reflects an analytical assessment of a company's environmental policies and performance. Its scoring model captures best-in-class policies, programs and initiatives, as well as regulatory infractions, lawsuits and community impacts, among other indicators. *The REPUTATION SCORE is based on an opinion survey of corporate social responsibility (CSR (1) (Customer Service Representative) A person who handles a customer's request regarding a bill, account changes or service or merchandise ordered. Agents in call centers are known as CSRs. See call center. ) professionals, academics and other environmental experts who subscribe to CorporateRegister.com. CEOs or high-ranking officials in all companies on the Newsweek 500 list were also invited to participate. About Cummins Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves customers in approximately 190 countries and territories through a network of more than 500 company-owned and independent distributor locations and approximately 5,200 dealer locations. Cummins reported net income of $755 million on sales of $14.3 billion in 2008. Press releases can be found on the Web at www.cummins.com. Forward-looking disclosure statement Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including statements regarding the company's expectations, hopes, beliefs and intentions on strategies regarding the future. It is important to note that the company's actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to, general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in Cummins Securities and Exchange Commission filings. |
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