GHG Emissions, Industrial, Sourcing Renewables - April 21, 2021
Stanley Black & Decker’s ESG Report Shows Progress Towards Carbon-Positive Goal
In its first consolidated Environmental, Social & Governance (ESG) report “A Force for Good,” Stanley Black & Decker revealed its advancement towards the company’s 2030 Corporate Social Responsibility Goals. Accomplishments include completion of three solar projects in 2020, investment in Renewable Energy Credits (RECs), ongoing initiatives to reduce CO2 emissions by over 30,000 metric tons, and an upcoming VPPA solar project.
"We believe corporations have a broader role to play in society beyond financial success,” said Stanley Black & Decker CEO Jim Loree in a statement, “We have a long history of and a deep focus on environment, health and safety, social responsibility and community engagement to build on. This year's launch of a consolidated ESG report supports our commitment to achieve our bold sustainability vision and to provide clear, transparent progress toward our goals."
These goals include Stanley Black & Decker’s plan to become carbon-positive by 2030: in contrast to releasing CO2, their operations would absorb it instead. To accomplish this mission, the company established a Special Projects team in 2020 that created over 40 energy reduction projects such as large-scale solar arrays, boiler and chiller upgrades, LED light retrofits, and waste heat recovery initiatives. Some of these projects are already completed, while others are currently being approved or implemented. Collectively, they could reduce the company’s CO2 emissions by over 30,000 metric tons.
Among the completed projects, three new solar arrays will lower emissions by 2,000 metric tons - in addition to the 3,000 metric tons avoided by the company’s existing solar projects. This portfolio generated over 10,000 MWh of electricity in 2020, 7,000 mWh of which Stanley Black and Decker used directly. Future solar plans include four more North American solar projects and the company’s first Virtual Power Purchase Agreement (VPPA).
In addition, Stanley Black and Decker has joined the Renewable Thermal Collaborative and is currently evaluating 23 ECOSMART™ projects that have the potential to avoid 2,000 metric tons of CO2 emissions.
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