As Stanley Black & Decker has transformed, we have sharpened our focus on driving sustainable growth for our stakeholders and in the way we do business.
Integrating Sustainability into Our Business
Our business focus and objectives for sustainable performance are intertwined —all driven by the needs of our end users—to forge the impact we seek. Our strategy entails objectives across our People, Product and Planet pillars—clear and purposeful commitments each owned by members of our senior management team. As we drive progress towards these goals in line with our growth strategy, we reinforce the success of our business by strengthening our resiliency and supporting long-term value creation.
Driving Positive Impact Across Our Operations
We are making substantial progress across our goals, which are tied to our brand-led, user-focused approach to sustainable growth. Highlights from 2024 include:
- Growing the Trades: We are on track to exceed our goal of investing $30 million by 2027 to support educating tradespeople and closing the skilled trades gap. With more than $19 million already invested, the tangible impact this support is having in the communities we serve provides us with the conviction to double down on our commitment to a longer-term goal to invest $60 million by 2030. These funds support organizations serving core building trades, focusing on equipping individuals with the skills for productive, profitable, and thriving careers in the trades.
- Delivering More Sustainable Innovation: We are delivering innovative solutions to the jobsite as evidenced by our most awarded new product line of 2024, the DEWALT POWERSHIFT™ Cordless Equipment System. Building upon DEWALT’s 100-year legacy of end-user inspired innovation, this line of cordless tools is revolutionizing the concrete jobsite and helping to reduce emissions, enabling a single crew to produce up to 87% less CO2e emissions during use per year versus gas-powered equipment.* We are not stopping there—our new product development process integrates sustainability considerations into the critical “define” and “design” phases so that as we solve future end user or jobsite challenges with innovative solutions, we do so with a lasting positive impact in mind.
- Improving Our Operational Efficiency: Our renewable energy upgrades are tied to our supply chain transformation, and incorporate resiliency, efficiency, and cost factors. In 2024, we broke ground on our newest solar installation in Massachusetts, which is scheduled for launch in 2025, and is expected to deliver more than $270K in annual electrical savings for the site. Within our value chain, we are working collaboratively with our suppliers to help them improve their efficiency and resilience, and we have significantly increased the number of suppliers who have agreed to our recommended emissions reduction targets in 2024. These sustainability gains are a result of our intentional process of creating a more strategic, agile, collaborative, and focused supply chain—a true value chain—aligning with our goal to serve the evolving needs of our end users and markets.
Our Shared Journey Continues
Nearly 50,000 amazing team members at Stanley Black & Decker are driving our efforts forward– and they have demonstrated intense focus as we transform our company so that our strategy starts with the end users of our products. Together, we have made great progress simplifying our Company by getting back to our core and we have positioned Stanley Black & Decker for sustainable growth into the future.
I am excited to share that Chris Nelson will succeed me as President and CEO, effective October 1, 2025, while I transition to Executive Chair of our Board of Directors for one year, after which time the Board intends to revert to a governance structure of Independent Board Chair. Chris and I share the deep conviction that Stanley Black & Decker will continue to flourish in the markets we serve thanks to the foundational traits which make this Company great—its people, its brands, and its incredible innovation.
We welcome your views as we continue driving toward a future of sustainable business growth.
Donald Allan, Jr.
President & Chief Executive Officer