At its core, our environmental, social and governance (ESG) strategy is to be a force for good in the world.
We embrace a role in society that all global corporations should play: helping to solve the world’s challenges such as climate change, inequity, pandemic recovery and workforce development.
In doing so, we build on our historical progress, with a keen focus on the environment, health and safety, meaningful innovation, sustainability and community engagement, knowing there’s always more to be done.
Our ESG Strategy
The consumer megatrends and global challenges we face have been gathering force for years, and galvanized a response in us, across Stanley Black & Decker, that has also been years in the making.
We recognize that ESG is more important than ever, influencing how all stakeholders view, and act in relation to, a company. But ESG is not new to Stanley Black & Decker. Although terminology and nomenclature have evolved, our commitment to ESG principles runs deep.
We laid the foundation of our ESG strategy in 2017 with a set of 2030 commitments that are purposefully aligned with the UN Sustainable Development Goals (SDGs) and intrinsically tie to our purpose.
These 2030 commitments were made across the three pillars of people, product and planet. Governance serves as a fourth dimension of action and accountability, underpinning these pillars.
(1) Our operations means where we buy fuel (Scope 1) and/or electricity (Scope 2).
(2) Operational/Operations means manufacturing sites and distribution centers only.
Note: Our 2030 goals for carbon, water and waste exclude those factory outlets, service centers and offices where we are unable to directly influence the purchase of energy, water and disposal of waste.
Governance for Responsible Oversight
Our Board provides independent oversight to establish and review progress on short-term and long-term business strategy, risk management, executive compensation, corporate social responsibility and ESG. Learn more
Addressing Societal Challenges – Together
The world’s challenges are our own. Our sustainability as a business is deeply intertwined with people and the planet. As such, we invest in strategies focused on combatting climate change, alleviating inequity and developing human potential both in our workforce and more broadly, in society at large. We also take on immediate concerns such as pandemic recovery and disaster response.
We believe that our business success going forward depends on helping the world address these challenges and that there are opportunities for Stanley Black & Decker in doing so. This is particularly true in terms of nurturing the talent needed to forge our shared future, and in strategically accelerating the sustainable attributes of our product portfolio, particularly the electrification of outdoor power equipment – where consumer trends, maturing technology and the pressing need for climate action can be brought together to create value for all.
Climate change is the defining issue of our time. We are actively investing in transforming our operations to go beyond carbon neutral, in leading our supply chain to do the same and in vastly reducing the carbon impact of how our products perform in the hands of the makers of the world.
Being a force for good includes protecting human rights and taking action on our gender and racial equity commitments. Within our organization, we have added a Chief Diversity Officer to our C-suite, and Diversity, Equity & Inclusion continues its acceleration as a global and scalable initiative, with a thriving network of established employee resource groups (ERGs) and bold moves made to create a culture of belonging and inclusion.
Human potential deserves to be realized. This is especially true today given the skilled labor shortage constraining markets around the world. Our strategic philanthropy efforts help empower makers, particularly in communities in need. For our people, we continue to amplify our investment in training and development.
“Sustainability has become integral to our business culture. Our ESG strategy looks beyond reducing negative impact to positively impacting the environment through our operations.”
Deb Geyer, Corporate Responsibility Officer
OUR CEASELESS PURSUIT OF SOCIAL RESPONSIBILITY
Part of the United Nations Global Compact
Joining the United Nations Global Compact in March 2020 has enhanced our sustainability strategy. The Global Compact is a call to companies everywhere to align their operations and strategies with 10 universally accepted principles in the areas of human rights, labor, environment and anti-corruption.
This index describes our commitment and actions including the location of relevant content in our reporting, and our reports, documents and policies that govern our company and put our values into action. Our actions to advance the Sustainable Development Goals (SDGs) are also included within applicable links. View UN Global Compact Index
Successful CSR Integration in Due Diligence
We recognize that responsibility and sustainability are not just about us, but also about the business ecosystem around us, which we help to build and shape. Accordingly, we have integrated sustainability principles into our due diligence practices, for the evaluation of any and all potential business partners, suppliers and targets for acquisition.
Climate Scenario Planning
We’ve conducted an intensive climate scenario planning session focused on a climate sensitivity/risk analysis for our locations and businesses. Examining our products, processes and opportunities, we have explored topics ranging from sea-level rise and freshwater availability to market opportunities in electric vehicle manufacturing and service.
Implementing CSR in Acquired Companies
As we help to build the business ecosystem around us, we have integrated sustainability principles into our due diligence practices for all potential business partners, suppliers and acquisition targets. We work to bring new assets and teams up to our global standards of corporate social responsibility so that the entirety of Stanley Black & Decker remains sustainable.