The goals and initiatives we are announcing today are ambitious yet realistic and we approach them with a sense of urgency.
WILMINGTON, Del. (PRWEB) March 25, 2021
Corteva, Inc. (NYSE: CTVA) today announced new goals and initiatives to further embrace diversity and inclusion across its global operations and advance equity in agriculture. Among a number of actions, Corteva Agriscience set five-year workforce diversity targets that, by 2026, would increase the company’s global female representation by 10% and U.S. racial/ethnic minority representation by 20%.
“We believe in the power of an inclusive workforce, supply chain and culture of belonging to enable us to deliver innovative products and solutions and best serve our global customers,” said James C. Collins, Chief Executive Officer, Corteva Agriscience. “The goals and initiatives we are announcing today are ambitious yet realistic and we approach them with a sense of urgency. Our leadership team and Board intend to hold ourselves accountable for measurable progress that will help us advance inclusion, diversity, equity not only within our company but also across our industry.”
Meghan Cassidy, the company’s SVP, Chief Human Resources and Diversity Officer, said, “Corteva Agriscience has made inroads in creating a diverse and inclusive culture since becoming an independent company in 2019. As we look ahead, we know there is a great deal more we must do. Our intent is to accelerate our progress, learn as we go and then set our sights higher.”
Advancing Inclusion, Diversity & Equity (ID&E) Internally and Externally
Corteva is committed to achieving diverse representation throughout the company’s workforce and suppliers, establishing clear goals and regularly tracking progress. A few of these goals include:
- By 2026, increasing global female employee representation by 10% (to 36%), with a strong focus on the pipeline to senior leadership.
- By 2026, increasing racial/ethnic diversity (2) of our U.S. employee population (1) by 20% (to 19%), with a strong focus on the pipeline to senior leadership.
- By 2030, 25% of global addressable Corteva spend will be with diverse suppliers and small businesses.
In addition, Corteva is building a culture of belonging for its colleagues, offering ID&E learning and development opportunities to all levels of the organization, evaluating and improving equity across its people processes, and facilitating continuous dialogue between employees and leadership.
The Company is also collaborating with customers, farmers, suppliers and other industry stakeholders to address equity challenges in agriculture. This includes focused community outreach and leveraging its previously communicated sustainability goals.
For further details on these and other recently launched goals, click here.
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry—including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the Company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva became an independent public company on June 1, 2019 and was previously the Agriculture Division of DowDuPont. More information can be found at http://www.corteva.com.
Cautionary Statement About Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like "goals", "plans," "expects," "will," "anticipates," "believes," "intends," "target," or other words of similar meaning. All statements that address expectations or projections about the future, including statements about Corteva's sustainability and ID&E strategies and goals are forward-looking statements.
Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond Corteva's control. While the list of factors presented below is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, Corteva’s ability to competitively attract, develop and retain talent; employee turnover rates; restructurings; supplier disruptions and consolidations; and similar risks, any of which could have a material adverse effect on Corteva's sustainability and ID&E results. Some of the important factors that could cause Corteva's actual results to differ materially from those projected in any such forward-looking statements include: i) failure to obtain or maintain the necessary regulatory approvals for some Corteva's products; (ii) failure to successfully develop and commercialize Corteva's pipeline; (iii) effect of the degree of public understanding and acceptance or perceived public acceptance of Corteva's biotechnology and other agricultural products; (iv) effect of changes in agricultural and related policies of governments and international organizations; (v) effect of competition and consolidation in Corteva's industry; (vi) effect of competition from manufacturers of generic products; (vii) costs of complying with evolving regulatory requirements and the effect of actual or alleged violations of environmental laws or permit requirements; (viii) effect of climate change and unpredictable seasonal and weather factors; (ix) risks related to oil and commodity markets; (x) competitor's establishment of an intermediary platform for distribution of Corteva's products; (xi) impact of Corteva's dependence on third parties with respect to certain of its raw materials or licenses and commercialization; (xii) effect of industrial espionage and other disruptions to Corteva's supply chain, information technology or network systems; (xiii) effect of volatility in Corteva's input costs; (xiv) failure to realize the anticipated benefits of the internal reorganizations taken by DowDuPont in connection with the spin-off of Corteva and other cost savings initiatives; (xv) failure to raise capital through the capital markets or short-term borrowings on terms acceptable to Corteva; (xvi) failure of Corteva's customers to pay their debts to Corteva, including customer financing programs; (xvii) increases in pension and other post-employment benefit plan funding obligations; (xviii) risks related to the indemnification obligations of legacy EID liabilities in connection with the separation of Corteva; (xix) effect of compliance with laws and requirements and adverse judgments on litigation; (xx) risks related to Corteva's global operations; (xxi) failure to effectively manage acquisitions, divestitures, alliances and other portfolio actions; failure to enforce; (xxii) risks related to COVID-19; (xxiii) risks related to activist stockholders; (xxiv) Corteva's intellectual property rights or defend against intellectual property claims asserted by others; (xxv) effect of counterfeit products; (xxvi) Corteva's dependence on intellectual property cross-license agreements; and (xxvii) other risks related to the Separation from DowDuPont. Additionally, there may be other risks and uncertainties that Corteva is unable to currently identify or that Corteva does not currently expect to have a material impact on its business. Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva's management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements or other estimates is included in the "Risk Factors" section of Corteva's Annual Report on Form 10-K, as modified by subsequent Quarterly Reports on Forms 10-Q and Current Reports on Form 8-K.
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1 Refers to salaried employee population and excludes all fully dedicated Granular and DuPont Capital Management employees. All percentages have been rounded.
2 Includes the following U.S. racial/ethnic categories: Black or African American, Hispanic or LatinX, Asian, Native Hawaiian or Other Pacific Islander, Native American, and Two or More Races.