Colgate-Palmolive Co

Colgate's Chief Sustainability Officer chairs our Sustainability Steering Committee, which makes strategic decisions related to sustainability, monitors climate-related issues and works to integrate our sustainability and social impact strategy into our broader organization and to measure and meet our sustainability targets and KPIs. For more information regarding how sustainability is governed from a Board and management perspective, please see the Sustainability Governance section in our 2022 Sustainability & Social Impact Report.

As set forth in our Code of Conduct and our Political Contributions Policy, we have a longstanding policy against making direct or indirect contributions to any political party or candidate. In addition, each year, we advise our U.S. trade associations of this policy to prevent the use of Company dues or contributions for any such expenditures and request that such associations that receive at least $10,000 annually from us confirm their compliance with this policy. The Political Contributions Policy is available on our website.

Oversight of ESG issues has been and remains one of the Board's key priorities, particularly through the Nominating, Governance and Corporate Responsibility Committee (the NGCR Committee), which was reconstituted and renamed in 2020 to heighten the Board's focus on sustainability (including forests), social responsibility and corporate citizenship matters. The NGCR Committee oversees our 2025 Sustainability & Social Impact Strategy and receives regular updates from management on sustainability matters, risks and opportunities, including our efforts to accelerate action on climate change, reduce our environmental footprint and achieve our sustainability targets. The NGCR Committee reviews the sustainability strategy, program and goals, and the Company's progress towards achieving those goals. Such strategy, program and goals include those relating to forest. The NGCR Committee is scheduled to meet quarterly and a sustainability-related topic, which may include topics directly or indirectly related to sustainability including forests, is typically presented and discussed at each scheduled meeting. In 2022, the Committee met four times. The Committee makes regular reports of its proceedings to the Board, which may include issues related to sustainability and deforestation. [...] Quarterly updates on sustainability matters, which may include forest-related issues, are generally provided to the NGCR Committee by the Chief Procurement Officer (CPO), CSO and/or Chief Supply Chain Officer. Topics may include reputation, goal progress, supply chain disruptions, NGO/regulatory, and initiatives. iii) Forest-related responsibilities: CPO and our CSO are the sponsors for our No Deforestation program at Colgate. Quarterly updates are provided to both leaders to review ongoing strategies in place that impact suppliers and sourcing changes to sustainable source forest commodities, review the status of the integration of our responsible sourcing commitments into the overall material strategy plan for forest commodities and review the current metrics, KPIs and progress based on the time-bound plan in place.

###### Investment, Governance and Transparency

Underpinning our entire Climate Action Strategy are the critical elements of investment, governance and transparency.

Investment
Our longstanding capital program strategic framework recognizes and prioritizes investments in projects that support our sustainability goals. Specifically, the capital program recognizes and supports the investments we make in the areas of renewable energy, energy efficiency, water efficiency, zero waste and packaging recyclability, reusability and compostability projects. Additionally, our well-established "5% for the Planet" program helps ensure that our global manufacturing sites identify, fund and implement climate, energy, water and waste projects that deliver environmental improvement and often cost savings.
In addition, in support of our 2025 Sustainability & Social Impact Strategy, in November 2021, we issued the Sustainability Bond. An amount equal to the net proceeds of the Sustainability Bond will be used to finance or refinance, in part or in full, new and existing projects and programs with distinct environmental and/or social benefits pursuant to our Sustainable Financing Framework, [which is available on the Investor Center section of our website. The framework includes projects](https://investor.colgatepalmolive.com) that help achieve our climate targets.

###### Governance
Colgate's CSO chairs our Sustainability Steering Committee, which makes strategic decisions related to sustainability, monitors climate-related issues and works to integrate our sustainability strategy, including climate change, into our broader organization and meet our sustainability targets and KPIs. For more information regarding how sustainability is governed from a Board and management perspective, please [see Sustainability Governance.](https://www.colgatepalmolive.com/en-us/sustainability/sustainability-management-and-sustainability-report)

###### Transparency and Disclosures
Transparency is important to us and to our stakeholders, as it provides accountability and trust. In this report, we provide climate-related information relevant to a broad range of stakeholders. As discussed above, Colgate formed an ESG Reporting Task Force in 2021 to address our stakeholders' increasing demands for additional ESG and climate-related disclosure.
More information is available on our climate governance, strategy, risk management, metrics and targets [in our CDP surveys, Sustainability and Social Impact report, TCFD report, SASB report and our KPI table.](https://www.colgatepalmolive.com/content/dam/cp-sites/corporate/corporate/common/pdf/sustainability/colgate-palmolive-task-force-on-climate-related-disclosures-report-tcfd-2021.pdf)
[These reports are available on our website.](https://www.colgatepalmolive.com/en-us/sustainability/reports-and-downloads-archive)

We are currently exploring various approaches to internal carbon pricing as a mechanism to incentivize Colgate's teams to explore and deploy greenhouse gas reduction strategies. Carbon pricing encourages greenhouse gas emission reductions by assigning a fee on greenhouse gas emissions and/or offering an incentive to reduce emissions. Absent a government-mandated carbon tax, this approach has been shown to shift consumption, behavior and investment patterns, making greenhouse gas reductions an integral part of business decision making processes.

Colgate's Chairman, President and Chief Executive Officer serves on the Board of the CGF and actively participates in sustainability-related decision-making. [...] Colgate is on the Board of the A.I.S.E. We participate actively in decision making and have signed on to their Charter for Sustainable Cleaning.

Within our Board, the Nominating, Governance and Corporate Responsibility (NGCR) Committee oversees our sustainability program, including our 2025 Sustainability & Social Impact Strategy, and the P&O Committee has responsibility for overseeing our workplace and human rights practices, including diversity and inclusion and equal opportunity initiatives. The NGCR Committee receives regular updates from management on sustainability matters, risks and opportunities, including our progress against our science-based climate targets and other action plans to achieve our sustainability targets. The NGCR Committee is scheduled to meet quarterly and a sustainability-related topic, which may include topics directly or indirectly related to climate change, is typically presented and discussed at each scheduled meeting.

As set forth in our Code of Conduct and our Political Contributions Policy, we have a longstanding policy against making direct or indirect contributions to any political party or candidate. In addition, each year, we advise our U.S. trade associations of this policy to prevent the use of Company dues or contributions for any such expenditures and request that such associations that receive at least $10,000 annually from us confirm their compliance with this policy. The Political Contributions Policy is available on our website.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]A central Colgate team engages with various external stakeholder groups (e.g. USEPA, TSC, ACI, AISE, USGBC, WRI, UNGC) and our internal stakeholders to ensure our direct and indirect activities that influence policy are consistent with our overall climate strategy. We believe our commitment and performance demonstrate business support for climate.

Additionally, Colgate manages multiple engagement activities around climate change across business divisions/categories and geographies by including Climate Change Strategies and commitments in our Global Sustainability Strategy. These commitments cascade into Division specific Sustainability Plans and goals. Function specific strategies and goals are coordinated at the global level and are also included in Global Growth and Efficiency, Global Technology and Global Supply Chain strategic plans. Progress on our climate change commitments and KPIs are reported on twice a year as part of our Environmental Performance and Sustainability progress report and our New Products Sustainability progress report. Many strategies are led globally. Global manufacturing drives 5% for the Planet capital investment program, engagement in US EPA Energy Star Challenge for Industry, achievement of manufacturing energy and carbon reduction goals, Business Readiness Planning, and LEED NC certification for all new manufacturing plants. Global logistics drives carbon reduction relating to movement of finished goods through network optimization, low carbon transportation and efficient load building. Our marketing team leads development of consumer engagement campaigns to reduce water/energy associated with use of our products, often with support of our Global Sustainability and EHS team. Clarity of purpose, inclusion in our goal alignment process and regular progress reporting drives alignment.

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or climate transition plan?[…]A central Colgate team engages with various external stakeholder groups (e.g. USEPA, TSC, ACI, AISE, USGBC, WRI, UNGC) and our internal stakeholders to ensure our direct and indirect activities that influence policy are consistent with our overall climate strategy. We believe our commitment and performance demonstrate business support for climate.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]No, and we do not plan to have one in the next two years