ESG Governance & Oversight
Our Board of Directors maintains overall responsibility for ESG governance at Carpenter Technology. Our Board and its committees oversee ESG-related aspects of our corporate strategy, plans of action, management policies, and performance objectives. The Board and its committees work closely with management to ensure that the Company is properly addressing ESG considerations, including in the Company’s overall business strategy. As our Company continues to develop and execute its ESG plan and targets, our Board will continue to oversee our strategy and monitor the Company’s progress.
The Corporate Governance Committee (“CG Committee”) of the Board of Directors reviews and makes appropriate recommendations to the Board regarding the delegation of responsibilities to other Committees relating to ESG matters. The CG Committee reviews with management significant Company strategies and practices relating to sustainability, corporate responsibility and ESG matters in furtherance of the Company’s business strategy, Core Values and purpose. The CG Committee also reviews recent developments and best practices in the fields of sustainability, corporate responsibility and ESG matters that are identified by the Board, management or the CG Committee. Further, the CG Committee reviews relevant sustainability, corporate responsibility, and ESG publicly available reports involving the Company. The CG Committee makes recommendations to the Board regarding the foregoing as appropriate.
The Human Capital Management Committee (“HCM Committee”) of the Board of Directors reviews, reports and makes recommendations when appropriate on human capital management, diversity, equity and inclusion, talent management and retention, and corporate social responsibility.
ESG Steering Committee
The ESG Steering Committee includes functional and business leaders who ensure the Company’s sustainability strategy is aligned across the enterprise and define annual and midterm targets that inform our public reporting. The Steering Committee meets quarterly and reports progress to the Company’s Leadership Team. The ESG Steering Committee, which reports to Carpenter Technology’s President and Chief Executive Officer, includes the Company’s Senior Vice President and General Counsel; the Vice President and Chief Human Resources Officer; the Vice President of Corporate Environmental, Health & Safety, and Security; and the Vice President of Corporate Development and Investor Relations. The ESG Steering Committee monitors and drives execution of the ESG strategy across the Company’s various functions and business units.