Stanley Black & Decker announced today that CEO Jim Loree has joined the Council for Inclusive Capitalism.
Launched in December 2020, the Council is a global nonprofit organization that joins moral and market imperatives to build a more inclusive, sustainable and trusted economic system that addresses the needs of people and the planet.
Stanley Black & Decker’s decision to join the Council reflects the company’s deep commitment to its purpose – “For Those Who Make the World” – as well as its focus on environmental, social and governance (ESG) responsibility and advocacy for business to be a force for good.
“Business has an important role to play in building a better world, delivering sustainable value and societal good,” said Jim Loree, Chief Executive Officer of Stanley Black & Decker. “The Council for Inclusive Capitalism brings together business leaders who share a commitment to ESG and provides a powerful forum for progress. I look forward to working with my peers in the Council to generate significant positive impact for the world.”
The Council for Inclusive Capitalism is rooted in action and led by CEOs and global leaders who commit their organizations to tactics that create long-term value for all stakeholders. Council members are accountable for their actions. Members' commitments are measurable and made public on the Council's online platform. These commitments are intended to motivate and challenge others to bring their own reform ideas to the movement.
“I am excited to welcome Jim Loree to the Council and look forward to working with Stanley Black & Decker to ensure a better future for us all,” said Meredith Sumpter, Chief Executive Officer of the Council for Inclusive Capitalism. “It will take the conscious and collective action of all business leaders to scale the impact needed for capitalism to become more inclusive and sustainable. That’s why every Council member is committing to making progress toward that goal. As a leading advocate for stakeholder capitalism and corporate social responsibility, Stanley Black & Decker will be an important contributor to the Council’s agenda.”
As part of Stanley Black & Decker’s Corporate Social Responsibility (CSR), it has developed a strategy that consists of three pillars: Create a More Sustainable World, Innovate with Purpose and Empower Makers. Through these efforts, the company aims to become a carbon positive organization, address unmet societal needs to improve the lives of 500 million people and empower 10 million makers through STEAM education, vocational and trade skills, makerspace training and develop resources for employee career mobility – all by 2030. In its participation on the Council, it has also issued a series of commitments rooted in its existing ESG goals, including achieving gender parity in leadership and donating at least $10.5 million by 2025 to racial equity-related organizations. These targets are also aligned with the United Nations Sustainable Development Goals (UN SDGs).