(Credit: Pixabay)Honeywell 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 US 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 US 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.
In addition to addressing its own emissions, 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.
