Stanley Black & Decker has announced that its long-term environmental sustainability goals have been approved by the Science Based Targets initiative, a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Science-based targets provide a clearly defined pathway to future-proof growth by specifying how much and how quickly a company needs to reduce its greenhouse gas emissions.
“We are pleased to welcome Stanley Black & Decker to the group of more than a hundred of the world’s biggest companies that have now set targets through the Science Based Targets initiative,” said Cynthia Cummis, Director of Private Sector Climate Mitigation at World Resources Institute, one of the Science Based Targets initiative partners. “Stanley Black & Decker’s science-based targets demonstrate that there is a myriad of business benefits available to manufacturing companies that set them, including communicating to customers and shareholders that the company is serious about addressing its climate impact.”
Specifically, Stanley Black & Decker commits to reduce Absolute Scope 1 and 2 Greenhouse Gas (GHG) emissions 100% by 2030, using a 2015 base year. Stanley Black and Decker also commits to reduce Scope 3 GHG emissions 35% by 2030, using a 2017 base year. The Scope 3 target covers the emissions from purchased goods and services, and upstream and downstream transportation and distribution.
“A strong commitment to corporate social responsibility is the right thing to do, and is an imperative for companies dedicated to doing their part to help the world grow and thrive,” said Jim Loree, President and CEO of Stanley Black & Decker. “Certification from the Science Based Targets initiative helps give us confidence that the aggressive and aspirational goals we are setting for our company with our new 2030 global corporate social responsibility plan are putting us on a path to making a difference and creating a more sustainable world.”
Across all sectors, more than 390 companies have committed to setting science-based targets, of which over 100 companies have approved targets. Stanley Black & Decker’s approval continues its commitment to supporting the tenets of the Paris Agreement and reducing its impact on climate change.