Lockheed Martin Recognized As One Of 100 Best Corporate Citizens
In compiling its 100 best companies, CRO-in partnership with IW Financial, a Portland, Maine, research and consulting firm in environment, social and governance issues-ranked the corporate responsibility efforts of large-cap companies from the Russell 1000 index in eight categories: climate change; employee relations; environment; financial; governance; human rights; lobbying; and philanthropy. CRO determined the final ranking as a weighted average of these eight categories.
CRO and IW Financial relied on the transparency of companies and only took information from public sources such as financial disclosures, environment and citizenship reports, websites and EPA databases. Companies were not contacted to provide information.
Customers, investors, employees and communities expect companies to deliver quality products and services with transparency and a commitment to environmental, social and governance activities. We're committed to those principles, said Robert J. Stevens, Chairman, President and Chief Executive Officer. We're obviously very proud of this recognition which is really a reflection of the 140,000 talented and dedicated employees who are the Lockheed Martin engine.
As examples, Lockheed Martin employees have logged more than five million volunteer hours since 2002. Employees annually donated more than $17 million of their own money through a variety of workplace giving campaigns. Lockheed Martin volunteerism and employee giving complement a corporate philanthropic program that concentrates on education programs that develop the next generation of engineers. A United in Gratitude initiative supports military service members and their families.
Additionally, Lockheed Martin has been recognized for its environmental stewardship program. Three Lockheed Martin entities are on the Environmental Protection Agency's Fortune 500 Green Power Challenge List, collectively purchasing over 26.8 million kilowatt-hours (kWh) of renewable energy in 2007.
Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2007 sales of $41.9 billion.