Governance and Ethics

Oversight of our sustainability strategy begins with our Board of Directors, which through its Risk and Public Policy Committee, oversees the Company's activities related to environmental, health, and safety (EHS) matters, climate-related risks and opportunities, and sustainability disclosures. The Risk and Public Policy Committee meets at least quarterly and provides oversight of:

• enterprise risk and the Company’s risk management framework;
• the Company’s compliance functions, including its hotline reporting function;
• public policy and government relations matters; and
• environmental, health, and safety matters.

Wabtec's Head of Sustainability is responsible for our enterprise-wide sustainability strategy and initiatives, leading cross-functional efforts to advance progress across the Company's value chain.

Our Sustainability Task Force, which meets quarterly, supports execution of the Company’s sustainability strategy. This cross-functional team includes leaders from Wabtec’s business segments, Sustainability, Engineering, EHS, Controllership, Human Resources, Investor Relations, Legal, Operations and Sourcing. The Task Force is responsible for implementing actions within those business units and functions to support Wabtec’s sustainability framework and goals.

The governance framework is supported by Wabtec’s Enterprise Risk Management (ERM) process, which provides a routine and structured process to help identify and address the most significant strategic risks to the Company in non-siloed manners. In 2024, the Company conducted its annual global risk survey to identify the top five enterprise risks to the Company over the next three years. The risk data was consolidated into risk categories, which were ranked based on total scores and risk priority score (likelihood x severity). Risk owners were then identified for each risk category to be responsible and accountable for outlining risk mitigation strategies. Senior management provides routine updates to Wabtec’s Board of Directors, primarily through its Risk and Public Policy Committee, on the progress and development of risk mitigation strategies. Identifying and implementing action plans to mitigate climate risk are considered as part of this process. For information on Wabtec’s climate-related risk and opportunity assessment and mitigation, see Wabtec’s Climate Report released in 2024 .

Visit our Corporate Governance webpage for additional information.

Speak Up, Wabtec is our open reporting program through which potential violations of the law, Wabtec’s Code of Conduct, and/or other Company policies and procedures may be reported. Wabtec employees and any party witnessing misconduct are asked to report immediately any suspected unethical, illegal, or unsafe suspected conduct of any kind related to the Company. They are instructed to report concerns through the tool, email address (speakupwabtec [at] wabtec [dot] com (speakupwabtec[at]wabtec[dot]com)), their manager, HR manager of team members in the Legal, Finance or Internal Audit department. Each concern received is evaluated and a determination is made as to whether there is sufficient information to conduct an investigation.

Wabtec’s Supplier Code of Conduct, acknowledged by all suppliers at the time of onboarding, sets forth our specific expectations for sustainable procurement, including suppliers’ compliance with laws and regulations linked to environment, health, safety, labor, human rights, security, and privacy issues. We also reserve the right to audit suppliers to assess their compliance and monitor their sustainability progress. Suppliers also acknowledge adherence to Wabtec’s Human Rights Policy, Modern Slavery and Human Rights Statement, and Responsible Minerals Policy.

Wabtec has implemented a variety of procedures and tools, including assessments and audits, to monitor supplier quality and reduce the risk of supplier non-compliance in areas such as labor rights, working conditions, environmental requirements, and other sustainability-related topics.

We regularly audit suppliers in high-risk countries using the supply chain risk management tool to enhance our understanding of risks to our supply chain. We use those findings to lessen the impact of disruptions, drive operational efficiencies, and accelerate integration synergies.

Visit our Supplier Resources webpage for additional information.

Cybersecurity and data privacy are critical to maintaining a secure environment for our products, data, and systems that effectively support our business objectives and customer needs. The Company has adopted a comprehensive approach with respect to acceptable use, risk management, data privacy, education and awareness, security incident management and reporting, identity and access management, third-party management, security (with respect to physical assets, products, networks and systems), security monitoring and vulnerability identification. The Company also maintains a global incident response plan and regularly conducts exercises to help with our overall preparedness. The Company takes measures to improve and update our cybersecurity program, including independent third-party assessments, penetration testing and scanning of our systems for vulnerabilities. The Company partners with assessors, consultants, auditors, and other third-party service providers and advisers to assist in monitoring cybersecurity risks.

Cybersecurity and data privacy risks are overseen by the Risk and Public Policy Committee of the Board. The Company provides frequent reports to the Committee, including information about cyber-risk management, the effectiveness of the Company’s cybersecurity framework, and benchmarking the Company against its industry peers.

Check out Wabtec’s Product Cybersecurity webpage and our Privacy Policy for additional information.