Cummins Inc. is one of 45 inaugural global recipients of the Terra Carta Seal, presented by the Prince of Wales.
The seal recognizes businesses for their commitment to environmental sustainability and decarbonization. While presenting the seal, Prince Charles called on all businesses to take a leadership role in the transition to a more sustainable, no-carbon future.
“The Terra Carta Seal recognizes those organizations which have made a serious commitment to a future that is much more sustainable, and puts nature, people and the planet at the heart of the economy,” Prince Charles said.
Among its 10 principles, the Terra Carta calls for embedding positive and negative social and environmental costs into goods and services to encourage sustainability. It also calls for incentives for sustainable alternatives. Cummins supports carbon pricing to incentivize customers with the transition to low-carbon power, said company Chairman and CEO Tom Linebarger.
“Sustaining a vibrant economy while using fewer of the earth’s resources is the challenge of our time,” Linebarger said. “Our mission of making people’s lives better by powering a more prosperous world requires a healthier planet, and it will take all of us working together to solve the world’s climate challenges. Being part of the Sustainable Markets Initiative is both a great honor and a great responsibility.”
In 2019, Cummins unveiled Planet 2050, an environmental sustainability strategy, aspiring to be carbon neutral by 2050. The company manufactures electrolyzers to produce green hydrogen, a promising no-carbon fuel. The company also accelerated development of an internal combustion engine that runs on hydrogen.
Other inaugural recipients of the Terra Carta Seal include Bank of America, PepsiCo, Salesforce and Xerox. The Sustainable Markets Initiative expects to add more recipients annually as additional companies join its campaign to meet the world’s climate challenges.
