3BL Media has named Stanley Black & Decker to its annual 100 Best Corporate Citizens ranking, recognizing outstanding environmental, social and governance (ESG) transparency and performance among the 1,000 largest, U.S. public companies.
This is Stanley Black & Decker’s second year being named to the 100 Best Corporate Citizens ranking coming in at #69 overall and #8 in the Capital Goods Industry.
“This last year proved how important it was for corporate leaders to live their pledge to create a better world through the ESG principles embedded in stakeholder capitalism,” said Stanley Black & Decker’s CEO Jim Loree. “We work to serve those who are doing the hard work every day - the builders, the protectors, the makers, and the creators - these essential workers are invaluable to the functioning of our society, particularly during the global pandemic. We are honored to be recognized for our sustainability and societal efforts and thank our 53,000 employees for all their contributions and dedication to living our purpose – For Those Who Make the World - as we continue to strive toward being a force of good.”
The 100 Best Corporate Citizens ranking is based on 146 ESG transparency and performance factors in eight pillars: climate change, employee relations, environment, finance, governance, human rights, stakeholders and society, and ESG performance. In 2021, Stanley Black & Decker’s top pillars of performance were “ ESG performance”, “climate change” and “environment.”
Using a methodology developed by 3BL Media, all Russell 1000 Index companies are researched by ISS ESG, the responsible investment research arm of Institutional Shareholder Services. To compile the ranking, corporate data and information is obtained from publicly available sources only, rather than questionnaires or company submissions.
“Achieving the transformational targets in the Paris Agreement and UN Sustainable Development Goals in this decade requires all companies to truly embed ESG issues into the core of their business,” said Dave Armon, CEO of 3BL Media. “The best corporate citizens of 2021 are answering the call by demonstrating the societal and bottom-line value of leadership and transparency around ESG topics. They are setting ambitious goals, outlining robust strategies for achieving them, disclosing data to measure progress, and accounting for all stakeholders in business decisions.”
Stanley Black & Decker’s purpose – For Those Who Make the World – helped launch a Corporate Social Responsibility (CSR) strategy that tied the company’s purpose with the United Nations’ 2030 Sustainable Development Goals. The strategy focuses the company's efforts on three key pillars: empowering makers, innovating with purpose and creating a more sustainable world. While the company always had a deep commitment to CSR, the strategy, born in 2017, was reflective of the company’s broader ambition to help be a force for good.
By 2030, Stanley Black & Decker plans to enable 10 million creators and makers to thrive in a changing world, innovate our products to enhance the lives of 500 million people, and, be carbon positive in its global operations, meaning its carbon capture is greater than its carbon emissions. Stanley Black & Decker also aims to build a culture where inclusiveness is a reflex, not an initiative and all employees feel valued, heard and positioned to succeed.
In April 2021, Stanley Black & Decker released the company’s first consolidated ESG report. Building on their efforts to provide further transparency of its ESG data, the newly released report serves as a comprehensive resource to highlight all aspects of the company’s sustainability and societal efforts, with an emphasis on ethics and inclusion.