Chairman, President and CEO Letter

Lockheed Martin Chairman, President and CEO, James Taiclet.

At Lockheed Martin, our mission is to solve complex challenges, advance scientific discovery and deliver innovative solutions to help our customers keep people safe. We advance this vital mission by producing 21st century technologies that preserve global security, enable international commerce and expand knowledge of our planet and our universe.

While innovation has always been the lifeblood of Lockheed Martin, the foundation of our continued success will always be a commitment to our Core Values—To Do What’s Right, Respect Others and Perform with Excellence.

Our Roadmap to a More Sustainable Enterprise

These same values underpin Lockheed Martin’s Sustainability Management Plan, which provides a roadmap to build a more sustainable enterprise and ensure that we can continue to carry out our vital mission well into the future. Over the past five years, the plan has centered around five core issues: Business Integrity, Employee Well-Being, Product Impact, Resource Efficiency and Information Security.

As we evaluate the progress on our ambitious 2020 goals, we’re also embarking on a journey toward a new Sustainability Management Plan with updated Sustainability Priorities and 2025 goals. These are aligned with our business strategy and ongoing commitment to protect the environment, strengthen communities and propel responsible growth.

Resilience in the Face of Adversity

The events of the past year were a stark reminder of the importance of building a sustainable corporation. Our company’s resiliency and strong financial footing enabled us to continue to deliver on our customers’ critical programs while also helping our communities at a time of great need.

The 2020 Sustainability Report demonstrates how Lockheed Martin continued to advance our sustainability goals in the midst of an extraordinarily challenging year defined by a global pandemic, the subsequent economic downturn and social unrest.

In response to the COVID-19 pandemic, Lockheed Martin made nearly $22 million in charitable contributions to organizations that helped frontline workers, first responders, public school students, small business owners and military service members weather the impacts of the crisis. Our employees applied their innovation and sense of community to produce and donate more than 93,000 protective gowns and 54,000 face shields for frontline medical workers caring for patients in more than 250 locations globally. And throughout the crisis, we helped keep the broader economy going by accelerating payments to more than 10,100 suppliers—including nearly 6,200 small businesses—across all 50 states, the District of Columbia, Puerto Rico and 47 nations.

Staying Focused on Our Long-Term Sustainability Strategy

While our relief efforts related to the pandemic were a key focus for Lockheed Martin in 2020, this year’s report highlights many other significant achievements in advancing our long-term sustainability strategy.

For the first time, we published a Sustainability Accounting Standards Board (SASB) report and issued our first Climate-Related Risk and Opportunity Assessment in alignment with the Task Force on Climate-Related Financial Disclosure (TCFD) recommendations.

We were honored to be acknowledged globally for our efforts. In 2020, Lockheed Martin was once again listed on the Dow Jones Sustainability Indices and the CDP’s “A” List for our efforts to mitigate climate change. We were also recognized as an industry leader and one of America’s Most JUST Companies by Forbes and JUST Capital.

Optimism for a Sustainable Future

Lockheed Martin’s demonstrated history of innovation and commitment to advancing our Core Values makes us a powerful force to build a more sustainable world. The challenges we faced over the past year underscored the importance of a collective sense of shared purpose. With sustainability properly integrated with our business strategy, I am confident that we will effectively pursue our vital mission for decades to come.

 

James D. Taiclet
Chairman, President and Chief Executive Officer
Lockheed Martin Corporation

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