The past year was also a time of reckoning for society as the fight for racial equality took on renewed urgency. Our employees responded with empathy and compassion, speaking out against injustice and inequality around the world and supporting local initiatives where we could make a measurable impact. One local example included an effort to close the digital divide in Cleveland, Ohio.
The need for climate action also intensified throughout the year. At Eaton, we believe that what’s good for the planet is also good for our business. So, in support of our leadership on environmental, social, and corporate governance (ESG) matters, we announced our commitment to become carbon neutral by 2030. And we’re already making solid progress toward this goal.
Finally, although the economic crisis had a profound impact on our end markets, we delivered better-than-expected financial results and had one of our best years ever in total shareholder returns. This is clear evidence of how we’re becoming a stronger company.
These results would not have been possible without the extraordinary efforts of our employees. Throughout the year, they continued to lead with our values, focusing on meeting the needs of all our stakeholders – our colleagues, our customers and suppliers, our communities, and our shareholders.