Otis Worldwide Corporation — full event log
Every event we have on file across every reporting year. The Data-by-year tab summarises the top 10 per year; this page shows them all.
← back to Data by year2025· 13 events
Otis Limited's board approved its Modern Slavery Statement for the year ending 31 December 2025, signed by Robert Sadler on 15 May 2026. Statement covers UK Modern Slavery Act, Australian, Norwegian, Canadian, and Swiss legislation.
sustainability_report p.14
Inherent risk assessments have been expanded across Otis's entire supplier base, considering geography, industry, and operational profile.
sustainability_report p.9
Otis embedded sustainability criteria into competitive bidding tools and expanded measurement to include sustainability scoring in global strategic sourcing and supplier performance monitoring processes.
sustainability_report p.14
Otis included sustainability training at the 2025 global supplier conference covering Supplier Code of Conduct, prohibition of child and forced labor, and basic worker rights.
sustainability_report p.12
In October 2025, Otis purchased all outstanding shares of Otis Electric Elevator Company Limited from its noncontrolling shareholder (Xizi Elevator Group Co.) for approximately $215 million. Otis Electric is now 100% owned by Otis China. $188M recorded to accumulated deficit, $27M to noncontrolling interest.
sustainability_report p.16
In January 2025, Otis announced the reorganization of its operations in China, resulting in restructuring actions of approximately $30 million in severance-related costs. Actions are substantially completed as of December 31, 2025.
sustainability_report p.103
Otis invested $109 million in targeted acquisitions in 2025 to strengthen its maintenance portfolio in the United States, several European countries, and South Korea. Primarily in the Service segment.
sustainability_report p.72
In June 2025, Otis published its fourth annual Connect & Thrive sustainability report, drafted per GRI Standards, SASB and TCFD. Third parties provided limited or reasonable assurance on certain health, safety and environmental metrics.
sustainability_report p.18
Otis' climate strategy is built on near-term SBTi-validated targets (55% absolute Scope 1&2 reduction by 2033 from 2021 base). Key near-term initiatives focus on energy management and operational efficiency across manufacturing facilities, the real estate portfolio and the vehicle fleet. The company also targets real estate portfolio climate resilience as a medium-to-long-term initiative.
sustainability_report p.18
Otis advances product sustainability through digitalization and innovation, including energy-efficient elevator platforms such as Gen3 and Gen360. Escalators feature sensors that run only when passengers approach or operate at reduced speeds to conserve energy when idle. The company directs 1.4% of net sales to R&D and digital/strategic initiatives to develop solutions that enhance sustainability.
sustainability_report p.14
Otis' SBTi target includes a 33% reduction in absolute Scope 3 emissions from purchased goods and services by 2033 from 2021 base year. The strategy focuses on responsible climate-resilient sourcing across a diverse network of several thousand global suppliers, with approximately 400 key suppliers for manufacturing supply chain.
sustainability_report p.18
Otis targets a 33% reduction in Scope 3 emissions from use of sold products by 2033. The company advances this through IoT-connected units (1.1 million connected globally via Otis ONE) enabling predictive maintenance and energy optimization, and through modernization of aging equipment, which is growing at 9% organic growth in 2025. Modernization backlog increased 30% at constant currency.
sustainability_report p.18
Business travel is explicitly included in Otis' SBTi Scope 3 target boundary, with a committed 33% absolute reduction by 2033 from 2021 base. The UpLift program and Global Business Services model with an external partner, along with digitalization initiatives (Otis ONE IoT, remote diagnostics), support reductions in field travel requirements over time.
sustainability_report p.18
2024· 1 event
In April 2024, the Science Based Target Initiative validated Otis' near-term SBTs: (i) reduce absolute Scope 1 and 2 GHG emissions 55% by 2033 from 2021 base year; (ii) reduce absolute Scope 3 GHG emissions from purchased goods/services, business travel, and use of sold products 33% by 2033 from 2021 base year.
sustainability_report p.18
2023· 1 event
Announced in July 2023, UpLift is a two-year program to transform Otis' operating model including process standardization, supply chain procurement improvements and organizational restructuring. Total costs ~$300M; annual run-rate savings ~$200M. Program substantially completed by end of 2025.
sustainability_report p.39
2022· 12 events
Achieve 100% factory eligibility for zero-waste-to-landfill certification by 2025. On-track for 40% implementation of program requirements by year end, up from 23% in 2021.
sustainability_report p.8
Otis formed cross-functional team, utilized existing business data to estimate Scope 3 emissions, identified product use and purchased goods as priority categories. Engaging third-party SME in 2023; emission reduction roadmap to follow.
sustainability_report p.7
Otis is reducing operational emissions through footprint optimization to right-size space and lower emissions, has added GHG impact benchmarks to its real estate lease approval process, and has implemented electric vehicle pilot programs to decarbonise its service fleet.
sustainability_report p.8
Otis is targeting 100% factory eligibility for zero-waste-to-landfill certification by 2025. On-track for 40% implementation of program requirements by year end 2022, up from 23% in 2021. Current focus on sustainable purchasing policies and colleague outreach; Hangzhou (China) factory recognised as a 'No-Waste Factory'.
sustainability_report p.8
Otis set a goal of 50% reduction of Scope 1 & Scope 2 GHG emissions by 2030. GHG target included in executive short-term incentive plan.
sustainability_report p.8
Goal met - 100% global factories ISO 14001 certified.
sustainability_report p.8
+/- 10% ESG multiplier on short-term incentive based on global female executive representation and global Scope 1 & 2 GHG reduction.
sustainability_report p.4
Otis identified product use as a priority Scope 3 category. The company publishes Environmental Product Declarations (EPDs) — five new EPDs in 2022, bringing the total to nine accredited EPDs globally — to communicate and drive product energy efficiency, since use-phase electricity dominates lifetime emissions for elevators and escalators.
sustainability_report p.6
Goal to reach carbon neutrality for factory electricity by 2030. Spain & Germany factory operations already source 100% renewable electricity. Renewable energy roadmap being developed by year end.
sustainability_report p.8
Otis aims to reach carbon neutrality for factory electricity by 2030. As of 2021, 41% of factory electricity was carbon-neutral. Factory operations in Spain and Germany source 100% of electricity from renewable sources, and a new factory in San Sebastian, Spain is powered entirely by 100% renewable (zero carbon) energy. A renewable energy roadmap is being developed by year end 2022.
sustainability_report p.8
Achieve gender parity in executive ranks by 2030. Added short-term incentive multiplier to drive results.
sustainability_report p.9
Otis identified purchased goods as one of two priority Scope 3 categories alongside product use. Quantification work with a third-party SME is underway in 2022-2023 to enhance method, confirm priorities, and assess initial opportunities to impact this category.
sustainability_report p.7