ESG at Otis | Governance & Accountability
Governance & Accountability
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The guiding principles of our Absolutes govern how we make decisions and act every day, everywhere. We ensure that our suppliers and others we work with embrace these same principles.
Governance & Accountability goals
Just as we recognize the fundamental strength that multiple cultures, skillsets and experiences bring to our business, work to prioritize diversity, equity and inclusion within our own organization to ensure our colleagues are representative of the customers we serve and our surrounding communities, we seek to do business with suppliers who share this commitment. We are working to increase our spend with diverse suppliers in the U.S. by ensuring access to a broad array of suppliers, which we deem fundamental to our future business success.
Award
at least 20% of U.S. supplier spend annually to diverse suppliers
Why governance matters
We move 2.3 billion people each day, and with that reach comes great responsibility. Our customers, passengers, partners and all whom we interact with depend on us to always do the right thing. Our Otis Absolutes – Safety, Ethics and Quality - define us, shape our work and set us apart.
These principles establish standards of conduct and enable ethical, value-based decision making. Specific company policies complement the Absolutes, covering topics such as antitrust, anticorruption, international trade, human rights and other compliance-risk areas.
Ethics and integrity
With every ride and every interaction with our stakeholders, we act with an unwavering commitment to doing business right: ethically, lawfully and transparently.
To maintain our culture of integrity and trust and to drive compliance to our Absolutes and company policies, we conduct quarterly online risk-based training.
We continue to provide Ethics Talk, an annual global initiative where supervisors lead their teams in conversations about ethical challenges.
Responsible procurement
Suppliers are critical to our success and are a significant cost to our business annually. Otis is committed to helping eliminate human rights violations associated with unhealthy working conditions or conflict minerals across our supply chain. Otis also plans to advance its environmentally sustainable procurement program, engaging with its suppliers on a GHG reduction strategy.
Our Supplier Code of Conduct, outlines our expectations of suppliers, holding them accountable to the same standards we establish for ourselves, including that they promote a commitment to ethical business practices.
Cybersecurity, data privacy & intellectual property
We responsibly collect, manage, store and protect all data with the utmost care. We have taken a risk-based approach to cybersecurity, implementing cybersecurity policies throughout operations and designing security into our products and services as they are being developed.
We encourage colleagues, contractors and customers to report any security vulnerabilities uncovered while working with us and investigate any credible reports we receive.
Speaking up
Together, we must uphold the reputation and integrity of our business, our people and our relationships. Everyone at Otis has a voice and is encouraged to use it by speaking up if they see something that doesn’t seem right.
We empower our people to ask questions or raise a concern if they notice a violation of the Otis Absolutes, company policies or procedures, or laws and regulations. Multiple channels are available to report concerns, including anonymous options. And external parties can also report their concerns using the same reporting channels.
Environmental, Social & Governance Report
The principles of ESG have been embedded in our strategy and culture for decades. In 2021, we became a signatory of the United Nations Global Compact and set public commitments that align with the U.N.’s Sustainable Development Goals. We’ve outlined a clear strategy with ambitious goals and bold initiatives. Read more about our progress in our latest ESG report.
