Along with supporting the Paris Agreement,
company also joins the U.S. Department of Energy's Better Climate
Challenge
~60% of Honeywell's research and development
investment for new products was directed toward ESG-oriented
outcomes; more than 60% of 2021 sales were from ESG-oriented
solutions1
CHARLOTTE, N.C., April 13,
2022 /PRNewswire/ -- Honeywell (NASDAQ: HON)
announced a new set of commitments that further advance its
sustainability goals beyond the company's existing commitment to
become carbon neutral in its facilities and operations by 2035. The
new pledges include a commitment to develop a science-based target
with the Science Based Targets initiative (SBTi) that includes
scope 3 emissions and participation in the U.S. Department of
Energy's Better Climate Challenge. The company also supports the
Paris Climate Agreement.
Honeywell will work with SBTi, a partnership between CDP, the
United Nations Global Compact, World Resources Institute (WRI) and
the World Wide Fund for Nature (WWF), to reduce its emissions in
line with climate science. As part of SBTi's process, over the next
two years, Honeywell will further quantify its Scope 3 emissions
and work closely with SBTi to determine an appropriate reduction
target for those emissions. Honeywell has already committed to
carbon neutrality in Scope 1 and 2 emissions by 2035.
Honeywell also announced that it has joined the United States
Department of Energy's Better Climate Challenge and will reduce its
Scope 1 and 2 emissions in the United
States by 50% and improve energy efficiency by an additional
10% by 2030, from a 2018 baseline. The Better Climate Challenge is
a U.S. government platform designed to mitigate the impacts of
climate change. As part of the Challenge, Honeywell will develop a
plan with greenhouse gas emissions reduction milestones, share its
progress and solutions with other organizations, and report on its
emissions data during the 10-year timeframe.
"Honeywell's enhanced sustainability commitments build on our
two-decades-long program to reduce our greenhouse gas emissions. We
have already reduced our intensity by more than 90 percent since
2004, and we are resolved to use the latest science and technology
to continue to reduce our environmental impact," said Darius Adamczyk, chairman and chief executive
officer of Honeywell. "For Honeywell, sustainability is a
comprehensive commitment, from our sites, to our operations, to our
products."
In addition to addressing its own emissions, Honeywell is a
leader in the innovation of new products that provide positive
environmental, social and governance (ESG)-oriented outcomes for
its customers1. About 60% of Honeywell's 2021 new
product introduction research and development investment was
directed toward ESG-oriented outcomes, and more than 60% of its
2021 sales were from offerings that contribute to ESG-oriented
outcomes.
Honeywell takes a multi-faceted approach toward meeting its
carbon neutrality commitments, including investing in energy
savings projects, converting to renewable energy sources, executing
capital improvement projects, and utilizing credible carbon offsets
when necessary and permitted. The company uses its own technologies
to achieve these goals wherever possible. The company is committed
to addressing its Scope 3 indirect emissions in its value chain by
continuing to focus on product innovation, adoption of Honeywell's
climate solutions, which include targeted solutions for sectors
responsible for two-thirds of the world's greenhouse gas emissions,
and partnerships with industry leaders to identify and implement
best practices.
Since 2004, Honeywell has continually set aggressive
environmental targets and achieved them. In 2019, Honeywell set a
"10-10-10" target to reduce global Scope 1 and Scope 2 greenhouse
gas emissions intensity by an additional 10% from 2018 levels,
deploy at least 10 renewable energy opportunities, and achieve
certification to ISO's 50001 Energy Management Standard at 10
facilities by 2024. In 2021, the company committed to carbon
neutrality in its facilities and operations by 2035. Honeywell has
implemented more than 6,100 sustainability projects since 2010,
saving an annualized $105 million in
costs. Honeywell supports the overall goals of the Paris Agreement
adopted in December 2015 at
COP21.
For more information about Honeywell's sustainability
initiatives, visit our Website.
Honeywell (www.honeywell.com) is a Fortune 100 technology
company that delivers industry-specific solutions that include
aerospace products and services; control technologies for buildings
and industry; and performance materials globally. Our technologies
help aircraft, buildings, manufacturing plants, supply chains, and
workers become more connected to make our world smarter, safer, and
more sustainable. For more news and information on Honeywell,
please visit www.honeywell.com/newsroom.
This release contains certain statements that may be deemed
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act of 1934. All statements, other than
statements of historical fact, that address activities, events or
developments that we or our management intends, expects, projects,
believes or anticipates will or may occur in the future are
forward-looking statements. Such statements are based upon certain
assumptions and assessments made by our management in light of
their experience and their perception of historical trends, current
economic and industry conditions, expected future developments and
other factors they believe to be appropriate. The forward-looking
statements included in this presentation are also subject to a
number of material risks and uncertainties, including but not
limited to economic, competitive, governmental, technological, and
COVID-19 public health factors affecting our operations, markets,
products, services and prices. Such forward-looking statements are
not guarantees of future performance, and actual results, and other
developments, including the potential impact of the COVID-19
pandemic, and business decisions may differ from those envisaged by
such forward-looking statements. Any forward-looking plans
described herein are not final and may be modified or abandoned at
any time. We identify the principal risks and uncertainties that
affect our performance in our Form 10-K and other filings with the
Securities and Exchange Commission.
Contacts:
|
|
Media
Nina Krauss
(704) 627-6035
nina.krauss@honeywell.com
|
Investor
Relations
Sean Meakim
(704) 627-620
sean.meakim@honeywell.com
|
1 Methodology for identifying ESG-oriented solutions
is available at investor.honeywell.com (see "ESG/ESG
Information/Identification of ESG-Oriented Offerings").
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SOURCE Honeywell