On August 19, Timken Company—a global technology leader in engineered bearings and industrial power transmission—released its Corporate Social Responsibility (CSR) report, highlighting progress in environmental sustainability, social impact, and product innovation.
“Building a more efficient and sustainable world is a vital part of The Timken Company’s strategy,” said Richard G. Kyle, President and CEO of The Timken Company. “This report reflects our milestones and underscores our enduring commitment to creating value for our customers, employees, and communities.”
The report details progress toward the company’s environmental emissions targets, aiming to reduce total Scope 1 and Scope 2 greenhouse gas emissions by 50% by 2030. From the 2018 baseline year through the end of 2024, Timken has already reduced emissions by approximately 42%. This achievement underscores the company’s determination to address climate change and operate responsibly.
Other highlights from the report include:
Capital investment in energy efficiency projects doubled from 2023 to 2024, while renewable energy usage increased 15-fold compared to 2018. These figures demonstrate the company’s ongoing commitment to exploring and sharing best practices for energy conservation and emissions reduction across all operations.
In 2024, the company diverted 88% of waste from landfills, reducing annual waste volume by 40% compared to 2018. This demonstrates that sustainable resource management principles are now fully integrated into business operations.
The company expanded its global employee development and well-being programs, achieving a 91% participation rate among salaried employees in the engagement survey. This underscores the company’s commitment to empowering employees and fostering inclusivity.
Significant investments were made in next-generation science, technology, engineering, and mathematics (STEM) education. In 2024, the company allocated $1.25 million to global STEM initiatives, deepening partnerships with organizations like FIRST® and Girl Scouts* to benefit tens of thousands of students worldwide.
Launched highly sustainable innovations to help customers reduce energy consumption, minimize waste, and enhance equipment performance in demanding conditions. These include EnviroSpexx™ energy-efficient bearings and advanced solutions for vertical farming, precision agriculture, and medical robotics.