Company announces five-year ambitions in the areas of
emissions, workforce development and volunteerism
LAS
VEGAS, May 12, 2022 /PRNewswire/ -- Las Vegas
Sands (NYSE: LVS) today released its latest ESG Report covering the
company's 2021 performance and outlining overarching ambitions and
core strategies for its next five-year reporting cycle from
2021-2025.
Targeted for achievement by 2025, Sands' primary ambitions in
the People, Communities and Planet pillars of its corporate
responsibility program include:
- People: $200 million
investment in workforce development to advance Team Member career
paths and local talent in the hospitality industry
- Communities: Contribution of 150,000 Team Member
volunteer hours in support of local communities
- Planet: 17% reduction in emissions from a 2018 base,
aligned with science-based target methodology
"Despite the ongoing challenges of the COVID-19 pandemic, our
commitment to being an ESG leader has not wavered," said Katarina
Tesarova, senior vice president and chief sustainability officer.
"In 2021, we refreshed our ESG strategy and laid the groundwork for
our next cycle with plans to accelerate our environmental efforts
around addressing climate change, especially in the areas of
renewable energy and transportation. Our social targets in
workforce development and volunteerism are designed to elevate and
amplify our history of creating pathways to career success and
giving back through service to our communities – two core areas of
the Sands culture."
Highlighting Sands' impact in 2021, the company was again
recognized on the Dow Jones Sustainability Indices for World and
North America. Sands also was
named one of Fortune's World's Most Admired Companies and to
the CDP Climate A and Water A Lists, the only hospitality company
recognized with an "A" designation on both lists.
Among Sands' many accomplishments contributing to these
designations and outlined in the 2021 ESG Report is the company's
dedicated focus on driving the success of small and medium
enterprises (SMEs) in the regions where it operates. In
Macao, Sands spent $263 million directly with SMEs in 2021, and 91%
of the company's total Macao spend
was with local businesses. In Singapore, total spend with local businesses
was even higher at 93%. The report highlights Sands' comprehensive
initiatives in support of SMEs and local businesses across each of
its People, Communities and Planet corporate responsibility
pillars.
Sands also continued to prioritize diversity, equity and
inclusion (DEI) and human rights initiatives in 2021. The company
made additional investments in diverse community organizations and
expanded DEI Team Member initiatives, including creating a new
diversity training framework, increasing diversity focus in hiring
and extending benefits to corporate Team Members' domestic
partners, matching a similar practice at Marina Bay Sands, which
provides benefits for married LGBTQ+ spouses. The company also
provided new transparency and a detailed overview of its human
rights commitment and practices in the ESG Report.
Enhanced governance of ESG topics was another major focus in
2021. Oversight of ESG matters was made a formal responsibility of
the board of directors' nominating and governance committee, and
the company's majority-owned subsidiary, Sands China Ltd., created
a separate ESG board committee. In addition, a component of the
incentive compensation for Sands' most senior executives was for
the first time contingent upon the achievement of certain ESG
performance measurements in 2021.
To read the full 2021 Sands ESG Report, click here.
About Sands (NYSE: LVS)
Sands is the world's
preeminent developer and operator of world-class Integrated
Resorts.
Our iconic properties drive valuable leisure and business
tourism and deliver significant economic benefits, sustained job
creation, financial opportunities for local businesses and
community investment to help make our host regions ideal places to
live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands in
Singapore and The Venetian Macao,
The Plaza and Four Seasons Hotel Macao, The Londoner Macao, The
Parisian Macao and Sands Macao in
Macao SAR, China, through majority
ownership in Sands China Ltd.
Sands is dedicated to being a leader in corporate
responsibility, anchored by our core tenets of serving people,
planet and communities. Our ESG leadership has led to
inclusion on the Dow Jones Sustainability Indices for World and
North America and recognition as
one of Fortune's World's Most Admired Companies. To learn
more, visit www.sands.com.
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SOURCE Las Vegas Sands