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Our Mission
At Carlisle, we build energy and labor efficient building envelope solutions, and nearly 70% of our annual revenue is derived from LEED qualified productions serving the residential, commercial, and industrial construction markets.
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$3.2B
in LEED qualified products manufactured and sold in 2023
70% of our total sales
120M
megawatt hours of energy saved on products sold
Enough to power 11M homes in the U.S. for a year
30M
metric tons of CO2 emissions avoided based on products sold
The same amount 80 natural gas-fired power plants emit in a year
275K
trees planted to date through our partnership with American Forests
0.67
OSHA Incident Rate due to our Path to Zero initiative
Compared to 3.4 industry average (U.S. Bureau of Labor Statistics)
1M
tons of waste diverted, 7 years ahead of schedule
New waste diversion goal of 2 million tons by 2030
To Our Stakeholders
At Carlisle, our legacy of sustainability is foundational to our value creation for our stakeholders. I’m proud to report that we once again made significant progress toward our sustainability objectives in 2023. This year’s sustainability report highlights the excellent work of Carlisle employees throughout the world who are dedicated to our sustainability strategy to manufacture energy efficient products, reduce our emissions, and divert landfill waste.
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About Carlisle
We are a leading global supplier of innovative building envelope products and solutions for more energy efficient buildings. Through our building products businesses – Carlisle Construction Materials (CCM) and Carlisle Weatherproofing Technologies (CWT) – and family of leading brands, we deliver innovative, labor- reducing, and environmentally responsible products and solutions to customers through the Carlisle Experience. In 2023 Carlisle generated total revenue of $4.6 billion including $3.2 billion in LEED qualified products. Our global manufacturing footprint spans 68 facilities and Carlisle products are sold in 90 countries around the world.
Vision 2030
2023 marked the launch of our much-anticipated Vision 2030 strategy, building on the successful achievement of Vision 2025 three years ahead of schedule. The pillars of Vision 2030 include over three times the level of investment in innovation, a continued emphasis on synergistic M&A, attracting and retaining top talent, and holding steadfast to our sustainability commitments. Vision 2030 leverages our pivot to a pure play building products portfolio to deliver superior returns, and consists of five key themes:
Build on our strategic pivot to a pure play building products company
In 2023 Carlisle completed our transformation to a pure play building products company. This pivot was driven by our aspiration to be superior capital allocators and drive to best-inclass return on investment.
Carlisle Operating System
The Carlisle Operating System (COS) is integrated into all of our business functions and customer touchpoints, and has become a key part of delivering cost reductions and operational efficiency. Performance is visualized through the deployment of SQDC (safety, quality, delivery, and cost) boards, which are present in all of our manufacturing plants.
1
2
Carlisle is well suited to capitalize on strong industry megatrends that are expanding our market opportunity, including pent-up re-roofing demand, growing demand for energy and labor- saving efficiencies, and increased customer preference for full building envelope solutions.
Capture the market momentum provided by industry megatrends
3
Carlisle is accelerating our innovation in the areas of energy efficiency, labor savings and integrated systems. Over the last five years Carlisle has developed a new product pipeline, which today represents 15% of our revenue. Our Vision 2030 goal is to achieve 25% of revenue through new product introductions, driven by our commitment to increase R&D investment to 3% of sales by 2030.
Drive investment in innovation
4
The Carlisle Experience and COS together helped us build discipline in our businesses around pricing, margin, and returns. Since 2008 we have more than doubled our segment adjusted EBITDA margin, demonstrating our ability to deliver value creation and margin resilience through cycles.
Continue to demonstrate margin resilience through cycles
5
In 2023 we deployed $900 million to repurchase shares, increased our dividend for the 47th consecutive year for a total cash dividend payout of $160 million, and invested $111 million of capital into our core businesses to drive innovation and organic growth. We plan to continue generating significant cash flow to invest in innovation, M&A, and return capital to shareholders.
Leverage strong cash flow to drive superior ROIC
In 2023 Carlisle...
CWT facility
CCM facility
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OSHA Incident Rate
Carlisle continues to perform well against our Path to Zero initiative that established goals of zero accidents and zero injuries. For the second consecutive year, Carlisle maintained an OSHA incident rate of .67, nearly five times better than the industry average.* Contributing to this success was a combined year-over-year improvement of over 20% in our core CCM and CWT businesses.
*U.S. Bureau of Labor Statistics (Plastic and Rubber Product Manufacturing)
Message from CEO
ESG Data Center +
Introduction
environmental impact
Social Responsibility
Corporate Governance
Last year Carlisle sold more than $3.2 billion worth of LEED qualified products to our customers in the residential and commercial building industry.
From our 2021 baseline, we have reduced our scope 1 and 2 emissions by more than 21%, a testament to efficiency gains achieved through the Carlisle Operating System.
Construction materials contribute as much as 30% of landfill waste. In 2023 Carlisle surpassed our initial goal of 1M tons of waste diverted through our recycling initiatives. We’ve now doubled that goal to 2M tons by 2030.
2023 was a momentous year for Carlisle as we completed our “pivot” from a diversified industrial portfolio of businesses to a “pure play” building products company. Accompanying our strategic pivot was the successful achievement of our goals under Vision 2025, three years ahead of schedule. Additionally, this year marked the launch of our much-anticipated Vision 2030 strategy, building on Vision 2025 and further unlocking the full potential of our pure play building products portfolio. The pillars of Vision 2030 include over three times the level of investment in innovation, a continued emphasis on synergistic M&A, attracting and retaining top talent, and holding steadfast to our sustainability commitments. Our Vision 2030 strategy broadens our competitive advantage and expands our market opportunity.
Our Market Opportunity
The need for energy efficient solutions continues to expand. Global and U.S. electricity demand is expected to grow in the years ahead. Ongoing electrification of residential and transportation markets, rapid expansion of data centers, and re-shored manufacturing facilities will all apply pressure to electric energy capacity. The built environment is a key source of this growing demand for electricity, accounting for about a third of all energy consumption and greenhouse gas (GHG) emissions. Carlisle produces products that make buildings more energy efficient and resilient. Last year, nearly 70% of our annual revenue was derived from LEED qualified products serving the residential, commercial, and industrial markets. These energy efficient products will help our customers avoid 84 million metric tons of scope 4 CO2 emissions, the equivalent annual emissions of nearly 22 coal-fired powerplants.* The demand for Carlisle’s products continues to grow following global energy demand trends. We will continue to drive above market growth through our industry-leading technologies, investment in innovation, and strategic acquisitions.
Our 2023 Progress
Manufacturing energy efficient products
Reducing our emissions
Diverting landfill waste
While others talk about sustainability, Carlisle takes concrete actions that deliver tangible results. Our newest polyiso manufacturing plant in Sikeston, Missouri was built with Carlisle’s energy saving products, and received the first-ever LEED Platinum v4 certification for a manufacturing facility in North America. This facility showcases the utility of our energy saving products while helping us achieve our emissions reduction targets. We are also proud of our team’s ability to deliver award-winning financial and operational performance. Carlisle was named one of America’s Climate Leaders by USA Today and one of Newsweek’s Most Responsible Companies for the second straight year. Additionally, Carlisle was named one of Institutional Investors’ Most Honored Companies, placing first in seven out of eight categories in the Homebuilding and Building Products industry. This commitment to excellence helped Carlisle finish 2023 with record earnings per share. Our performance is a testament to the focused execution at Carlisle Construction Materials (CCM) and Carlisle Weatherproofing Technologies (CWT), our culture of continuous improvement driven by the Carlisle Operating System (COS), and our industry-leading customer service, support, and delivery performance through the Carlisle Experience. In 2023 Carlisle delivered exceptional progress against our three-pillar sustainability strategy:
Carlisle’s steadfast commitment to our sustainability goals is consistent with our core values of continuous improvement and operational excellence. Our goals are ambitious, however our teams are engaged and focused on creating a more sustainable future. Thank you for investing your valuable time to read this year’s sustainability report. Operating more efficiently, reducing waste, and providing energy saving solutions has been a part of our daily work at Carlisle for decades. We are especially proud of our achievements in 2023 and look forward to building on our 100+ year legacy of sustainability well into the future.
D. Christian Koch Chair, President, and Chief Executive Officer
Sincerely,
made significant progress toward our
sustainability objectives, reaching key milestones and objectives around reducing our emissions, manufacturing energy efficient products, and diverting landfill waste.
in 2023 Carlisle
megawatt hours of energy on all products sold, enough to power 11 million homes in the U.S. for a year*
Saved 120 million+
*Greenhouse Gas Equivalencies Calculator: United States Environmental Protection Agency
tons of scope 4 CO2 emissions based on products sold, equivalent to the yearly emissions from nearly 22 coal-fired power plants*
Avoided 80 million+
from our 2021 base year, over a quarter of our near-term reduction target
Reduced scope 3 emissions by 12%+
from our 2021 base year, equivalent to nearly half of our near-term reduction target
Reduced scope 1 & 2 emissions by 21%+
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Carlisle serves on the board or as a member of the following industry organizations:
Green Building Certifications
In the construction industry, there are several certification programs aimed at rewarding buildings that achieve a high level of sustainability and energy efficiency. Each of these programs takes a unique approach to accomplishing this goal, but all share the purpose of promoting green building practices.
Media Acolades
In 2023 Carlisle was named one of America’s Climate Leaders by USA Today and one of Newsweek’s Most Responsible Companies for the second straight year.
Industry Engagement
Carlisle manufactures construction materials that help reduce the energy demand of the built environment.
Carlisle is positioned to provide solutions to the growing energy demand. By manufacturing a wide variety of products that increase the efficiency of a building’s envelope, Carlisle is able to reduce a building’s required energy demand to maintain optimal conditions for a buildings function. Polyiso insulation boards, for instance, can save building owners nearly 30 times the amount of heating and cooling energy demand as what is used to manufacture the boards themselves. These products, and many others in the Carlisle portfolio, play an integral part in reducing the energy requirement from the built environment, and the savings play a prominent role in flattening the demand curve challenge ahead of our energy infrastructure.
The TSMC Data Center campus under construction in Phoenix, AZ. The Phoenix grid is one of many regions expected to face increased energy demands from data centers to support tech trends like AI
Buildings are responsible for one-third of global greenhouse gas emissions.
Of all the components of our nation’s energy system, the buildings sector has the most immediate connection to people’s lives.* Buildings impact us through the bills we pay that keep the lights, heating, and air conditioning on in our homes and businesses, and they have a significant effect on creating suitable environments that foster learning in schools, worker safety and productivity, and overall health and well being, Building decarbonization can therefore offer significant benefits to people and communities alongside its impacts on energy and emissions. Measures taken to decarbonize buildings can also benefit the decarbonization of all other sectors of the energy system.* Energy efficiency and demand flexibility in buildings reduce the peak demand on the grid, thus reducing the investment in grid infrastructure needed to achieve a cleaner electricity sector.
*Decarbonizing the U.S. Economy by 2050 (energy.gov) Decarbonizing the U.S. Economy by 2050: A National Blueprint for the Buildings Sector (p. 8) U.S. Department of Energy, April 2024
Energy in the Built Environment
Rooftop Takeoff Program
Expanded Polystyrene Recycling
Repurposing Polyiso Waste
Used membrane is collected from a re-roofing project in Terrell, TX
In April 2023 we took a significant step forward in our efforts to repurpose our end- of-life waste by launching the Rooftop Takeoff Program. By partnering with contractors and architects to cover the cost to recycle membrane and insulation from rooftop replacement jobs, Carlisle was able to divert over 1 million square feet of roofing material from landfills. Contractors who utilize the program are awarded a certificate from Carlisle highlighting their contribution to this initiative. Carlisle continues to explore additional avenues for upcycling our end-of-life materials and we are engaging our customers to establish the program’s presence in additional channels. We believe the program has the potential to make a significant difference in the way our industry views roof replacement waste.
Carlisle approved a $1.6 million investment in recycling infrastructure for our Dixon, CA facility that allows customers to return used EPS to the facility for recycling. This program is expected to divert 140 tons of end-of-life EPS scrap from landfill annually and is instrumental in building an end-of-life recycling program for our EPS line.
In 2023 we helped divert over 75,000 tons of waste through raw material purchases with recycled content
In 2023 Carlisle installed the second polyiso scrap briquetting machine in our Sikeston, MO facility. This equipment collects waste from the production line and densifies it at a ratio of 12:1. The increased density allows for more efficient management of waste and reduces the volume of scrap waste flowing to landfills. Carlisle repurposed nearly 400 tons of these briquettes at our Lake City polyiso plant by sending them to water treatment facilities where they are used to filter dirty water. Additionally, our Smithfield and Franklin Park polyiso facilities qualified recycling vendors to enable the use of polyiso scrap as a cost avoidance opportunity. This program has saved nearly $150,000 of waste disposal fees and prevented approximately 80 trucks of polyiso scrap waste from entering landfills.
Diverting Landfilll Waste
Three-Pillar Strategy
Construction materials are responsible for nearly one third of the total volume of waste in our landfills. As a leading manufacturer of construction materials, we understand the magnitude of the impact we can have on the environment through our waste streams. Carlisle has responded to this challenge by introducing waste diversion programs all through our value chain. Carlisle views waste diversion as a foundational pillar of our sustainability strategy. Our programs include utilizing recycled content in our raw material purchases, minimizing factory waste through COS, and creating end-of-life recovery programs for our products. In 2023 Carlisle surpassed our goal of diverting 1 million tons of waste through our major recycling programs. To extend our impact further, we have set a new goal of diverting 2 million tons of waste by 2030. We are excited to accelerate the positive impacts this initiative will have on our value chain.
Fostering a Sustainable Supply Chain
Renewable Capacity Improvement
Developing Bio-Based Alternatives
Transitioning to LED Lighting
Electrifying Our Fleet
Converting to HFO Spray Foam
Our greatest opportunity to reduce our footprint lies in our supply chain. That is why we make it a priority to work collaboratively and to foster strong relationships with our key suppliers. While our supplier engagement strategies around environmental and social impact are still evolving, we remain dedicated to creating an innovative environment underpinned by shared values. That is why in 2023 we initiated our first major environmentally focused supplier survey in collaboration with Assent. This survey, distributed to our top 100 suppliers in early 2024, aimed to identify areas where we could make the most substantial impact in reducing emissions based on the maturity of our supplier’s sustainability strategies and emissions reduction goals.
The solar array at our Sikeston polyiso facility generates over 10% of the plant’s energy demand
In 2023 Carlisle increased its renewable energy consumption through the deployment of a 823kW, 1,872 module solar array at our Sikeston, MO polyiso plant. The array generates enough energy for the plant to offset ~10.5% of the total energy demand of the facility, producing a total of 585,840 kWh last year. This latest addition brings Carlisle’s enterprise renewable energy production to over 2,300 MWh per year. Renewable energy production is vital lever in our strategy to reduce our scope 2 emissions, and Carlisle is exploring avenues to convert more of our energy consumption to renewable alternatives.
We collaborated with our key suppliers to find suitable lower-carbon raw materials that could be integrated into our products without sacrificing the level of quality that Carlisle is known for. As a result of our efforts, we are proud to announce the release of Polyiso Eco, a new polyisocyanurate insulation product utilizing bio-based MDI and Polyol engineered to address environmental concerns in the construction industry. By using biological content rather than standard petrochemical content, we help reduce the embodied carbon of our polyiso insulation. This product is ISCC PLUS certified, which provides a reliable and transparent assurance to consumers, stakeholders, and regulatory bodies that a product meets the highest international sustainability benchmarks. It also attests to transparency regarding the traceability of the raw materials used in production processes.
LED lighting continues to be a principal energy savings opportunity in the manufacturing environment. According to the United States Department of Energy, LED lights use at least 75% less energy and last up to 25 times longer than their incandescent counterparts. As part of our continual push towards energy efficiency in our factories, Carlisle saw multiple factories install LED lighting in 2023, including our Chino, CA EPS facility. In addition to decommissioning and removing outdated production equipment, Chino installed LED lighting in production, warehouse, and office spaces, realizing over 30% energy reduction in 2023, equivalent to almost 500k kWh and 350 mt CO2e, the amount of emissions associated with combusting 200 tons of coal.
Carlisle is in the midst of a 5 year, $50 million plan to electrify over 500 forklifts across 50 sites
As a leader in the building products industry, Carlisle extends our commitment to sustainability beyond structures with a five year, $50 million plan to convert over 500 forklifts across 50 sites to high performance, maintenance free, battery powered models. In 2023, we took the first step, with 50 new forklifts delivered to our manufacturing sites in Sikeston, MO, Montgomery, NY, and Smithfield, PA. We will continue to replace over 100 forklifts each year until the entire fleet has been upgraded. Every electric forklift conversion saves approximately 10 metric tons of CO2 and CO annually, along with significant fuel cost savings, which contribute to our carbon footprint reduction. By embracing electric forklifts and implementing energy efficient practices, we can drive toward a greener tomorrow, where material handling and sustainability go hand in hand.
Our HFC to HFO conversion avoids over 250,000 tons of CO2e emissions, equivalent to the annual electricity usage of almost 50,000 U.S. homes
2023 was a monumental year for Carlisle Spray Foam as we converted over 50% of our HFC spray foam product to HFO alternatives. Carlisle’s HFO spray foam products maintain the same standard of quality as HFC products and are significantly better for the environment as they have a GWP of 1 compared to HFCs, which have a GWP over 1000. This conversion amounted to over 250,000 tons of reduction in our Scope 3 GHG emissions. Carlisle expects to complete our full conversion away from HFCs in 2024. Additionally, we replaced all brominated fire retardants (BFRs) in our Seal-Tite® PRO HFO Closed Cell insulation products while simultaneously improving their fire performance. BFRs have been shown to leach into and contaminate soils where they are installed. Both the HFC to HFO conversion program and reduction of BFRs in our spray foam products are huge wins for Carlisle and the planet.
Reducing Emissions
In the past year, Carlisle has made significant progress in reducing our operational GHG emissions. We eliminated nearly 2,000 metric tons of carbon emissions from direct operations through the implementation of Energy Conservation Measures at our facilities such as solar power and LED lighting. We also engaged our key suppliers to stimulate the development of bio-based raw materials and received orders for the initial batches of petrochemical alternatives. And finally, we launched our rooftop recovery and recycling program, paving the path for substantial landfill waste diversion in 2023 and beyond.
Roof Guard Reflective Roof Coating
Roof Guard is a premium acrylic polyurethane enhanced roof coating. Its white color results in solar reflectivity that lowers the roof and interior building temperatures. Roof Guard is 100% waterproof and provides longevity versus a standard acrylic roof coating at a lower price point than silicon coatings.
Cool Gray EPDM
Sure-Seal Cool Gray EPDM offers reflectivity while still providing a “dry-down” effect, diffusing moisture faster than a white membrane would. Gray EPDM is an ideal choice in markets where heating and cooling costs are more balanced for building owners. EPDM also contributes the least to acid rain impact, smog, and global warming potential amongst the major roofing membrane categories.
TPO SeamShield
Our patented SeamShield technology is a factory-applied protective film applied to both the top and bottom lap area of TPO sheets, shielding the ply seams from bonding adhesives and dirt. SeamShield film can be removed from a 100-foot membrane in under 4 minutes, revealing a factory-clean surface ready for welding. This innovative process reduces cleaning time by up to 70%, eliminating the need for weathered membrane cleaner and leads to material savings.
Polyiso ECO
Carlisle SynTec Systems’ Polyiso Eco is a bio-based polyisocyanurate insulation product engineered to address environmental concerns in the construction industry. Agricultural raw materials are allocated for use instead of traditional fossil fuel materials. This helps reduce embodied carbon through a mass balance approach under International Sustainability and Carbon Certification (ISCC).
Research & Innovation
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Highly reflective roofing materials lead to a reduction of the heat island effect We restored over 860,000 square feet of land with native or adaptive vegetation, reducing development impacts on wildlife and people
Sustainable Sites
Employee communication, well-being, and productivity are improved with acoustical treatments that reduce reverberation and sound transmission
INdoor Environmental Quality
The building envelope, HVAC, lighting, and other building systems are designed to maximize energy performance, resulting in a 38% energy cost reduction The project includes an 823kW solar array system that offsets 10.5% of the energy load of the building
Energy & Atmosphere
A rainwater cistern and storage tank reduces the need for potable water usage in plumbing and irrigation systems by approximately 80%
Water Efficiency
The First LEED Platinum v4 Manufacturing Facility in America
Carlisle’s energy efficient systems in residential applications
Carlisle’s energy efficient systems in commercial applications
Spray Foam
HVAC Duct Sealant
Roof Underlayment
Roof Coatings & Sealants
Water Resistive Barrier Solutions
Wall Insulation
Spray Foam Insulation
6
7
Air & Vapor Barrier
8
Metal Panels
TPO Membrane
Coverboards
Polyiso Insulation
Metal Deck
Our Energy Efficient Products & Systems
Carlisle has a longstanding history of environmental stewardship based on our core tenet of waste reduction. We have implemented various recycling programs including scrap repurposing, process tolerance improvement, and the purchase of raw materials with recycled content. In 2023 Carlisle surpassed our initial goal of 1 million tons of waste diverted through recycling initiatives since tracking began. As a result we’ve doubled our commitment to waste reduction and implemented a target of 2 million tons of waste diverted by 2030.
Diverting Landfill Waste
Carlisle’s Recycling Roadmap (in tons)
Our Three-Pillar Sustainability Strategy
To achieve our net-zero greenhouse gas emissions targets, Carlisle executes against our three-pillar sustainability strategy and culture of continuous improvement fostered through COS.
Our 2030 Net-Zero Goals
reduction in scope 1 & 2 emissions
45
%
reduction in scope 3 emissions
52
Environmental Impact
Sustainability has been a fundamental part of Carlisle’s culture since our founding over one hundred years ago. Today our three-pillar sustainability strategy of manufacturing energy efficient products and solutions, reducing emissions from our manufacturing processes, and diverting waste going to landfills drives our efforts to help build a net-zero future.
Energy in Built Environment
Reducing Our Emissions
Energy Efficient Systems
In addition to receiving our target validation we made significant progress against our emissions targets in 2023, with product innovations and operational efficiencies serving as key drivers in achieving our emissions reduction goals. Key Drivers • Production volume down ~15% compared to 2022 • Our Energy Conservation Measures • Greening of the grid in major manufacturing areas • Converting HFC to HFO blowing agents • Improved data accuracy and adoption of lower GWP raw materials through supply chain engagement
21.87%
Reduced scope 1 & 2 absolute emissions
or 48.7% of our 45% near-term reduction goal
12.97%
Reduced scope 3 emissions intensity
or 25.1% of our 51.6% near-term reduction goal
In 2023 Carlisle sold over $3.2 billion worth of products that help buildings achieve LEED certification. This number represents approximately 70% of our revenue, a testament to energy efficiency as a core tenant of Carlisle’s value proposition. Through the use of lifecycle analyses and energy modeling tools, we are able to estimate the total energy and emissions impact of our sold product in any given timeframe. Carlisle has sold enough energy efficient products to save our customers over 120 million megawatt hours of energy demands in buildings over their service life. This is equivalent to avoiding 30 million metric tons of CO2e emissions to the atmosphere, the same amount 80 natural gas-fired power plants emit in a year.*
Manufacturing Energy Efficient Products
Scope 4 emissions avoided from 2023 product sales
Reducing emissions
Diverting LandFill waste
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Next Page: Corporate Governance
Arizona Women’s Golf Classic
CCM “Sockuary” Drive
Carlisle is engaged with more than a hundred community organizations supporting civility, veterans, education, and mental health services. Here are a few.
Carlisle in the Community
The Arizona Women’s Golf Classic
We are proud to be the title sponsor of the Carlisle Arizona Women’s Golf Classic for the third consecutive year. The Carlisle Classic is a key stop on the Epson Tour, the official qualifying tour for the LPGA. We are thrilled to support the hard-working and resilient women who represent the future of professional golf, and we extend our congratulations to Gabriela Ruffels, our champion for 2023. Girls Golf of Phoenix is the official beneficiary of the Carlisle Arizona Women’s Golf Classic. This non-profit organization is committed to empowering girls to dream big, build confidence, and hone their athletic abilities through golf.
Socks are the number one requested item in homeless shelters. In February employees across our CCM offices and plants participated in Sockuary. Sockuary is an annual event with the goal of collecting socks to donate to local shelters and resource centers. As a result of this initiative, CCM ended up donating a total of 18,810 pairs of socks to people in need.
Sojourner Center
In 2023 Carlisle continued our support of the Sojourner Center, a Phoenix-based non- profit that provides transitional housing to survivors of domestic violence. As October marks Domestic Violence Awareness Month, our Scottsdale office employees felt inspired to organize a donation drive to support the center. We also hosted a Domestic Violence Awareness Lunch and Learn event that had community members come together to support survivors and share knowledge and experiences, with an emphasis on how we all have a role in identifying and preventing domestic violence.
Elevate Phoenix
Across America’s hard-to-serve urban areas, public school students drop out of school in alarming numbers, and for those that do graduate, the road to post-secondary education is filled with obstacles. Too many of America’s high school students are underserved and, as a result, underperforming. Elevate Phoenix’s R.I.S.E. program, designed to help high school students transition into college, has proven effective in changing these trends to transform the lives of the city’s youth and improve outcomes for future leaders.
college retention rate for R.I.S.E. students
90%
advance to college, trade school, or the military
93%+
high school graduation rate for R.I.S.E. students
99%+
at-risk youths served through the R.I.S.E. program
5,250
Headstrong
Founded by veterans for veterans, Headstrong is one of the nation’s leading mental healthcare providers for veterans and their families. For more than ten years The Headstrong Project has provided confidential, stigma and obstacle-free, trauma-based mental health care for veterans, active duty personnel, and their affected families. Carlisle is proud to be a supporter of Headstrong’s commitment to expand access to mental health care for those who bravely served their country, regardless of service area or discharge status.
of clients return for further treatment after first session
97%
no longer meet clinical criteria for PTS, anxiety or depression
38%
showed meaningful improvement with post-traumatic stress
54%
individual sessions delivered in 2023
41,480
One Tote One Tree
Carlisle has joined forces with American Forests in creating the “One Tote, One Tree” program. Through this partnership, we plant one tree for each tote of product sold, with a minimum of 25,000 new trees planted every year. Carlisle also donates to research that addresses the growing risks of wildfires to our environment and natural resources. Through the help of our customers, the One Tote, One Tree program has made significant contributions in support of reforestation efforts in North America, with more than 275,000 trees planted to date.
an average time to first session of less than five days from the screening date. The goal is to keep kids safe at home, instead of a hospital, whenever possible. We have trained more than 40 clinicians in Collaborative Assessment and Management of Suicide (CAMS), an evidence-based therapy specifically built for managing suicidality, including an extension created specifically for adolescents (CAMS-4-Teens). These programs will be in operation across the entire enterprise by October 2024.
Phoenix Children's
The behavioral and mental health crisis among young people in Arizona continues to challenge resources across our community. Our partnership with Phoenix Children’s Hospital (PCH) offers support for children in crisis and their families. The pilot Suicide Prevention Program, developed in partnership with PCH, has delivered impactful results. Since its inception in March 2023, 34,000 screens have been administered in PCH’s outpatient medical clinics, resulting in the identification of 27 patients who were thinking about suicide and needed immediate, life- saving interventions. An additional 731 patients were identified who had at least a moderate risk for suicide. These patients were offered follow-up therapy within our Suicide Prevention Program’s crisis stabilization clinic, with
Veterans and Allies
Environmental Champions
Emerging Professionals
Women of Carlisle
Our Employee Resource Groups (ERGs) provide a valuable learning and development opportunity for the Carlisle workforce and foster a culture of inclusivity.
Carlisle Culture
The Veterans and Allies ERG was founded in 2021 with the goal of embracing Carlisle’s community of employee veterans and advocates while promoting a culture that provides opportunities for growth and engagement. This ERG has been instrumental in raising awareness and funds for critical issues affecting veterans. In 2023, it raised over $19,000 towards veteran mental health treatment with The Headstrong Project. In addition to fundraising, the ERG actively participates in campaigns such as Wreaths Across America and honors major holidays such as Independence and Memorial Day by planting flags – a symbolic gesture of respect and gratitude towards those who have served.
The Environmental Champions, Carlisle’s Environmental ERG, is committed to making the world a better place for future generations through sustainable action within the workplace and our communities. They operate as a cross-functional team, enhancing environmental knowledge, driving actions that positively impact the environment, and supporting Carlisle’s sustainability vision. In 2023, the group partnered with local conservancies for various environmental initiatives, including native tree planting, brush clearing, and invasive species removal. Through these conservation events and in partnership with American Forests, the ERG contributed to the planting of almost 1,800 trees.
The Emerging Professionals ERG is dedicated to fostering a culture where young professionals can pursue opportunities that facilitate professional leadership and industry experience to prepare them for future career growth. In 2023 they hosted an Executive Speaker Series that provided members with the opportunity to learn from and interact with company leadership. This series is a platform for sharing insights, experiences, and best practices, contributing to the professional growth of the members. The Emerging Professionals ERG also interfaces with the City of Carlisle Chamber of Commerce, fostering relationships with local businesses and community leaders.
Women of Carlisle members volunteering at a local food bank in San Diego, CA while in town for the WiM Summit
The Women of Carlisle ERG is dedicated to fostering an inclusive environment where all women are recognized and developed to their full potential. This ERG provides a network of communication, support, education, and mentorship for the women who work at Carlisle. It offers an opportunity for women to meet other women throughout the company, learn about gender differences and unconscious bias in the workplace, advocate for themselves, and build confidence and capacity for growth. The group hosts company-wide virtual sessions where women can connect and network across organizational functions that they would normally not have exposure to.
33%
Our Current Representation from People of Color
11%
People of Color in Senior Roles
20%
Our Current Representation from Women
15%
Women in Senior Roles at Carlisle
*Based on our domestic employee footprint
Senior leadership
1%
Office professionals
Manufacturing
61%
Our 2023 employee footprint,* 4,000+
Diversity & Inclusion
Maintaining Health Care Costs
For the fifth consecutive year, Carlisle has absorbed increases to health care costs, ensuring employees contributions remain flat from year to year. Additionally, we are committed to enhancing the financial well-being of our employees by increasing the company’s contributions to Health Savings Accounts (HSAs) in the coming year. We remain dedicated to providing a superior and comprehensive benefits package.
Providing Parental Leave
In 2023 we added paid parental leave as a benefit for all full-time employees. By providing parental leave, we are demonstrating our commitment to diversity, equity, and inclusion, as we recognize and celebrate the different forms of family and parenthood in our workforce. Parental leave is more than just a benefit, it is a reflection of our culture and values. 174 employees took advantage of this program in 2023.
Offering Mental Health Resources
As part of Carlisle’s commitment to fostering a culture of well-being, we partnered with Lyra Health, a leading provider of mental health care solutions. Lyra Health offers personalized, evidence-based, and convenient mental health care to our employees and their dependents. By using Lyra Health, Carlisle aims to reduce the stigma around mental health, improve employee engagement and productivity, and support the overall health and happiness of our workforce.
Carlisle employees at our EPS facility in Chino, CA
Investments in Carlisle
Investing in our people at all organizational levels is integral to our culture. As we look to the future, we aim to become an employer of choice by building on our strong foundation and equipping our people with the necessary tools and resources to thrive as part of Vision 2030. We are enthusiastic about the future and remain dedicated to nurturing the next generation of leaders at Carlisle.
2023 graduates of the Lebanon Valley College MBA program for CCM employees pursuing higher education
Opportunities for Higher Education
Carlisle is proud to support our employees in their pursuit of higher education. In addition to our internal initiatives, we have also maintained our partnership with Lebanon Valley College to offer an onsite MBA program for CCM employees. In May 2023 18 employees graduated from the program, and we anticipate another cohort of 18 will graduate in December 2025. We have also been able to provide nearly $470,000 in tuition assistance to our employees.
Carlisle Leadership Foundations
Carlisle Leadership Program
Carlisle Leadership Summit
In 2023 we welcomed new cohorts to our three leadership training and development programs.
Talent & Development
The Carlisle Leadership Summit, an annual event, imparts a deeper understanding of our strategic vision to our future executive leadership and other exceptionally talented individuals at Carlisle. This program offers our top talent the opportunity to engage with and learn from our CEO and Executive Team. At this year’s Summit, we were privileged to host two distinguished individuals who delivered keynote speeches to our cohorts. These included Kyle Carpenter, Medal of Honor recipient and author of You are Worth It, and Olympian Jeremiah Brown, who shared his experiences in a keynote titled “Make the Impossible Possible: Lessons from an Improbable Olympic Journey.” Each group also participated in a half-day Building Resilience workshop and received insights from senior leaders on the successes of Vision 2025 and transition to Vision 2030.
Our Carlisle Leadership Program, facilitated by the Wharton School at the University of Pennsylvania, is a customized program that readies high potential mid to senior level leaders for advancement within Carlisle.
The Carlisle Leadership Foundations program supports high performing individual contributors poised for, or who recently transitioned into their first leadership role. It equips our emerging leaders with essential leadership principles as they prepare to advance into their new positions.
Our team members are a crucial element underpinning Carlisle’s continued success. We are dedicated to developing our next generation of leaders, continuing our efforts to increase diversity, and enhancing our company culture.
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Download 2022 Report
Download 2023 Report
The graphic below illustrates Carlisle’s Board of Directors’ diverse skills
Board Member experience
Diverse Gender, Race or Ethnicity
Notable Multi-Industry
Company-Specific Industries
CEO of Multi-National Business
CFO of Multi-National Business
Audit Committee Financial Expert
International Business Issues
Mergers & Acquisitions
Board Leadership Structure
Carlisle’s various businesses are conducted by its employees under the direction of the Chairman and other senior management personnel. The Board of Directors discusses long-term corporate strategy for Carlisle, and monitors and oversees management’s performance to assure that the interests of the stockholders are being properly served. The Board has three standing committees: the Audit Committee; the Compensation Committee; and the Corporate Governance and Nominating Committee. Each committee of the Board functions pursuant to a written charter adopted by the Board. In identifying, recruiting and recommending nominees to the Board, the Corporate Governance and Nominating Committee is committed to including for consideration qualified candidates with diverse backgrounds, including diversity of gender and race.
Corporate Governance and Nominating Committee
The Corporate Governance and Nominating Committee develops and maintains the Company’s Statement of Corporate Governance Guidelines and Principles, leads the search for individuals qualified to become members of the Board, and recommends individuals for nomination by the Board to be presented for stockholder approval at the Company’s annual meetings. The committee also reviews the Board’s compensation and committee structure and recommends to the Board, for its approval, directors to serve as members of each committee, discusses succession planning, and recommends a new chief executive officer if a vacancy occurs.
Compensation Committee
The Compensation Committee administers the Company’s bonus and long-term, stock-based incentive programs, and decides upon annual salary adjustments for various employees of the Company, including the Company’s executive officers.
Audit Committee
The Audit Committee has the sole authority to appoint and terminate the engagement of the Company’s independent registered public accounting firm. The functions of the Audit Committee also include reviewing arrangements for and results of the independent registered public accounting firm’s examination of the Company’s books and records, the Company’s internal accounting control procedures, the activities and recommendations of the Company’s internal auditors, and the Company’s accounting policies, control systems, and compliance activities, and monitoring the funding and investment performance of the Company’s defined benefit pension plan.
Our Board of Directors
Chief Executive Officer The AZEK Company
JESSE G. SINGH
Senior Vice President, Digital Strategy and Transformation The Mosaic Company
CORRINE D. RICARD
Former Chairman, President, and CEO Michael Foods, Inc.
GREGG A. OSTRANDER
Former President Building Efficiency Johnson Controls Inc.
C. David Myers
Chair, President, and CEO Carlisle Companies Incorporated
D. Christian Koch
Former Chief Operating Officer, Athersys, Inc.
MAIA A. HANSEN
Former Chief Financial Officer, Treasurer, and Executive Vice President Nucor Corporation
JAMES D. FRIAS
Sr. Vice President eCommerce Parts Town Unlimited
JONATHAN R. COLLINS
Former Chairman, President, and CEO Oshkosh Corporation
ROBERT G. BOHN
ROBIN J. ADAMS
Former Vice Chairman, CFO, and Chief Administrative Officer Borg Warner Inc.
Carlisle is committed to the highest ethical standards and conducting business throughout all of our operations with the highest level of integrity. It is through these efforts that we have earned the respect and trust of our employees, shareholders, and customers.
Board of Directors
Board Member Experience
