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Garmin

OVERALL

Owned
SWI
Rating
Criticisms

GPS technology

Founded Global Positioning System technology in 1989 and are a world leader in satellite navigation for marine, outdoor, fitness, automobile and aviation markets. Have sold 126 million GPS devices as of May 2014.

Garmin Ltd   SWI     website      facebook   twitter

> About the Ratings

Company Assessment

PRAISE CRITICISM INFORMATION
Garmin Ltd
Social B grade at Behind the Barcode
B grade in the Baptist World Aid Australia's Behind the Barcode 'Ethical Electronics Guide 2016', which grades companies on their efforts to mitigate the risks of forced labour, child labour and worker exploitation throughout their supply chains. Assessment criteria fall into four main categories: policies, traceability & transparency, monitoring & training and worker rights.
Source: Baptist World Aid Australia (2016)
Social 30.6% in conflict minerals rankings
As You Sow's 2019 report, Mining the Disclosures, is a deep analysis of 215 companies' human rights performance in relation to sourcing conflict minerals from the Democratic Republic of the Congo (DRC). This company's score was 30.6% (Weak).
Source: As You Sow (2019)
Business Ethics 19/100 S&P Global ESG Score
This company received an S&P Global ESG Score of 19/100 in the Leisure Equipment & Products and Consumer Electronics category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 23 Sep 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2022)
Business Ethics 49.3/125 at JUST Capital
JUST Capital polls Americans every year to identify the issues that matter most in defining just business behaviour. For their 2023 rankings JUST Capital asked a representative sample of 3,002 Americans to compare 20 different business Issues on a head-to-head basis, producing a reliable hierarchy of Issues ranked in order of priority. Issues are organised under the headings Workers, Customers, Communities, the Environment, or Shareholders & Governance. JUST Capital then define metrics that map to those issues and track and analyse the largest, publicly traded U.S. companies. This analysis powers their rankings, in which this company ranked 460th of 951 companies, and 7th of 18 Household & Leisure Goods companies.
Source: JUST Capital (2023)
Business Ethics CEO Pay Ratio of 92:1
In 2019 the median pay for a worker at this company was US$35,188. The CEO was paid 92 times this amount. Exorbitant CEO pay is a major contributor to rising inequality. CEOs are getting more because of their power to set pay, not because they are increasing productivity or possess specific, high-demand skills. The economy would suffer no harm if CEOs were paid less (or taxed more). In contrast, the CEO-to-typical-worker compensation ratio was 20-to-1 in 1965 and 58-to-1 in 1989. A lower pay ratio could indicate a company is dedicated to creating high-wage jobs and investing in their employees for the company's long-term health.
Source: AFL-CIO (2020)
Business Ethics Social responsibility claims
This company has social responsibility claims on its website under the headings product design, recycling and human rights.
Source: company website (2020)
Business Ethics Responsible Minerals Initiative member
This company is a member of the Responsible Minerals Initiative (formerly the Conflict-Free Sourcing Initiative), which helps companies address conflict minerals issues in their supply chains. The RMI provides information on conflict-free smelters and refiners, common tools to gather sourcing information, and forums for exchanging best practices on addressing conflict minerals. Membership is open to companies that use or transact in tantalum, tin, tungsten or gold (3TG). Founded in 2008 by members of the Electronic Industry Citizenship Coalition and the Global e-Sustainability Initiative.
Source: RMI (2019)
Social Modern Slavery statement
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: company website (2016)

> About the Icons

Company Details

Type Public company
Founded 1989
Revenue 4.2 billion USD (2020)
Subsidiaries Garmin Australasia Pty Ltd 

GPS technology wholesaler

Contact Details

Address Schaffhausen, Switzerland
Website www.garmin.com

Products / Brands

Garmin Australasia
Garmin GPS
Garmin Smartwatches


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