Lincoln Electric Holdings, Inc..
LECO.US | Manufacture of other special-purpose machinery
Lincoln Electric Holdings, Inc. is a global manufacturer of welding, cutting, and joining products. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The Americas Welding segment designs, manufactures, and sells welding equipment, co...Show More
Better Health for All
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The company's products have caused severe health damage, with evidence linking them to asbestos-related diseases like mesothelioma.
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The Lincoln Electric Foundation provided $1.6 million in grants in 2024, with approximately 50% supporting programs for economically challenged and underserved citizens.
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The company demonstrates strong risk transparency through Human and Organizational Performance (HOP) practices, hazard heat maps, and a 100% review and closure rate for hotline cases within an average of 43 days.
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It has reduced Scope 1 and 2 GHG emissions by 18% and water withdrawal by 29% compared to 2018 baselines.
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The Foundation also supports Women Who Weld®, and the company offers a tuition reimbursement program with a student loan forgiveness option, benefiting over 500 employees in 2024.
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Mental health is supported through a Mental Health Campaign and an Employee Assistance Program (EAP).
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During the Rio Grande do Sul flooding in Brazil, the company donated $25,000.
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The Employee Assistance Program also addresses alcohol or drug abuse.
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Fair Money & Economic Opportunity
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Lincoln Electric Holdings, Inc. is a manufacturer of welding, cutting, and joining products, not a financial institution.
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The company does not offer lending, insurance, or deposit services to consumers, nor does it generate or manage customer finance data.
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Therefore, all KPIs related to financial products, lending practices, customer credit, savings outcomes, or financial literacy initiatives are not applicable to its core business model. While the company's foundation provides grants to support economically challenged citizens and it offers employee profit-sharing and student loan forgiveness, these activities do not align with the specific definitions and quantitative thresholds of the KPIs, which are designed for financial services companies and their direct impact on customer financial outcomes or community finance initiatives.
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Fair Pay & Worker Respect
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No evidence available to assess Lincoln Electric Holdings, Inc. on Fair Pay & Worker Respect.
Fair Trade & Ethical Sourcing
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No evidence available to assess Lincoln Electric Holdings, Inc. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
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Lincoln Electric has a comprehensive whistleblower policy, utilizing a third-party system (EthicsPoint) available 24/7 in 15 languages, with options for anonymity and explicit protection against retaliation for good-faith reporting.
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Mandatory training on the Code of Conduct and Anti-Corruption is provided for global non-manufacturing employees and key personnel.
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The company has not had any financial restatements in the past five years. Its board composition includes 10 independent directors out of 11 nominees, with all four board committees being fully independent.
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An anti-corruption policy is in place, applying globally to all employees, contractors, officers, and directors, prohibiting bribery and requiring pre-clearance for certain interactions with government officials, along with due diligence procedures for business partners.
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However, the extent of independent verification of ethical claims is limited to third-party due diligence for business partners and the use of an independent third party for whistleblower reporting, without broader verification of ethical claims.
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Kind to Animals
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Lincoln Electric Holdings, Inc. explicitly states that it does not exploit animals.
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This indicates a comprehensive policy against animal exploitation across its operations, aligning with the highest standard for animal testing policy.
No War, No Weapons
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The provided articles do not contain any specific, concrete data points or verifiable facts regarding LECO.US's involvement in arms contracts, dual-use technology, sales to embargoed regimes, peacebuilding investments, conflict divestment policies, or any other metrics related to the 'No War, No Weapons' ethical value.
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The information available focuses on financial performance, company leadership, and product announcements, without addressing the company's ethical stance or actions concerning military or conflict-related activities in a quantifiable manner relevant to the rubric's KPIs.
Planet-Friendly Business
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In 2023, the company achieved a 94% landfill avoidance rate and a 76.5% total waste recycling rate.
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Its Scope 1 and 2 GHG emissions were 180,860 tCO₂e in 2022, representing a 6% reduction from 2021 and a 19% reduction from 2018 to 2022.
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The Chennai, India facility sources 25% of its electricity from solar power.
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Water usage was reduced by 25% from a 2018 baseline to 2023.
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The company provides TCFD disclosure, including climate scenario analysis for 3°C+, 1.4°C, and 1.6°C pathways.
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No environmental compliance violations were mentioned in the provided articles.
Respect for Cultures & Communities
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In 2023, Lincoln Electric allocated 14% of its Foundation Grants to Art & Culture.
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The company's 2023 Foundation Grants totaled approximately $1.5 million, with an additional $650,000 in in-kind donations.
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The company also has an employee gift matching program, matching donations up to $1,000 annually.
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Safe & Smart Tech
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No evidence available to assess Lincoln Electric Holdings, Inc. on Safe & Smart Tech.
Zero Waste & Sustainable Products
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In 2023, the company achieved a 94% landfill avoidance rate and a 76.5% waste recycling rate.
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Lincoln Electric has established company-wide waste reduction targets, aiming for a 97% landfill avoidance rate and an 80% recycling rate by 2025.
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