Our goal is to inspire makers and innovators to create a more sustainable world in alignment with our purpose—For Those Who Make The World.™
We believe corporations have a broader role to play in society building on our historical, deep focus on environment, health and safety, sustainability and community engagement. This role relates to helping solve the world’s challenges, such as climate change, income inequality and workforce development. In short, we’re working to be a force for good.
A MESSAGE FROM JIM LOREE
Unexpected. Unimaginable. Unpredictable. 2020 was a year we won’t soon forget. It was challenging for all of us and devastating for far too many. As a sudden global pandemic ripped through the world, economies and businesses were brought to a halt, disrupting countless lives and sowing uncertainty, wave upon wave.
But the makers persevered. Essential work continued, with quiet heroism and extraordinary effort. People and businesses learned new ways of working, centered on the home and made possible by digital advancements that continue to transform daily life. As a global business and as individuals who care deeply about the world, it was our mission to help people and communities persevere through this unprecedented crisis.
At Stanley Black & Decker, we have always seen “doing well” and “doing good” as two sides of the same coin. If we help people and the planet flourish, so will our business. In that spirit, we fully support the 10 principles of the United Nations Global Compact in the areas of Human Rights, Labor, Environmental and Anti-Corruption, and seek to continually improve in every dimension of our Environmental, Social and Governance (ESG) performance. Stakeholder capitalism is a concept we fully embrace, but it also is common sense—taking full consideration of our impact on everyone who comes into contact with our products, our business and our people. It’s how we strive to be a force for good.
Every day, we work to inspire makers and innovators to create a more sustainable world. Because we believe, as a leading global corporation, we have a broader role to play in society beyond financial success. We have a long history of and a deep focus on environment, health and safety, social responsibility and community engagement to build on. Having earned this greater role, we have the privilege and responsibility to help solve the world’s biggest challenges, such as climate change, income inequality and workforce development.
This report celebrates our people, our purpose and our successes even in the face of a global pandemic, as we adapt to a changing and unpredictable world with empathy, agility and strength. 2020 has passed, but it will not be forgotten. It has taught us much, reconfirming our resilience, accelerating our innovation and amplifying our ability to do good in the world. Our unwavering commitments continue to foster sustainability, empower people and communities across the world, and guide our conduct as a leader in responsible performance.
Thank you for following our progress through these extraordinary times. I encourage you to engage with us, as we work together to improve the world we all share.
James M. Loree
Chief Executive Officer
CORPORATE SOCIAL RESPONSIBILITY STRATEGY AND APPROACH
Our CSR strategy for 2030 and beyond draws its power from a simple premise: be a force for good. That’s our commitment and it aligns perfectly with our purpose as a business—For Those Who Make The World™. We established the following three pillars in 2018 to keep us focused on our commitments and actions.
Enable 10 million creators and makers to thrive in a changing world
- Provide skill mobility for all of our employees
- Drive vocational training
- Increase access to makerspaces
- Partner to drive STEAM education
Innovate our products to enhance the lives of 500 million people and improve environmental impacts
- Create products meeting social needs
- Manage lifecycle product and packaging impact
- Ensure that two-thirds of our supply chain set science-based targets
Create a More
Positively impact the environment through our operations
- Realize carbon positive operations by 2030
- Set and meet context-based water targets
- Achieve zero waste to landfill across our operations by 2030
CSR ADVISORY BOARD
The external advisory board was formed to provide external insight into SBD’s CSR strategy and performance, and to make recommendations for how the strategy can remain current and relevant in relation to evolving circumstances and stakeholder expectations. The board is composed of peer business and consultant representatives offering key perspectives on emerging CSR issues and meets quarterly.
Director of Sponsorship & Partnership, WorldSkills
Director of Sustainability and Engagement, Center for Climate and Energy Solutions (C2ES)
Sr. Director of Corporate Sustainability, Lowe's Home Improvement
Vice President of Sustainability, Estee Lauder
Knowledge & Insights, Sustainable Brands
RESPONDING TO COVID-19
When the COVID-19 pandemic began to spread around the world, we quickly mobilized our global organization to protect our people and partners, and to help first responders, relief organizations and our many communities in their response. Stakeholder capitalism took center stage as businesses, governments and communities alike began to grapple with our natural codependencies during a pandemic. Learn more about our COVID-19 response
OUR CEASELESS PURSUIT OF SOCIAL RESPONSIBILITY
Enhancing Our CSR Strategy By Joining 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. Qualitative and quantitative measurements of our targets and performance indicators are included within applicable links contained within this index. Our actions to advance the Sustainable Development Goals (SDG's) are also included within applicable links contained within this index. 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. For example, planning for changes in our footprint as we grow and evolve, and integrating with the advanced technologies team to address environmental issues as we execute our Industry 4.0 strategy, ensures that Stanley Black & Decker remains sustainable and harnesses the power of change into the future.
Climate Scenario Planning
We are thinking about how the world we share is changing, including the climate, and the potential resulting impacts. We have 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 analyzing water risks such as sea level rise and fresh water availability and the coming demand for city infrastructure resiliency, to market opportunities in electric vehicle manufacturing and service. And we committed to revising our Environmental Risk Management process to ensure a risk assessment is conducted at least yearly that incorporates outcomes from climate change scenario analyses.
Implementing CSR in Acquired Companies
Our commitment to responsibility and sustainability extends beyond our walls. 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. Once acquired, we work to bring new assets and teams up to our high, global standards of corporate social responsibility so that the entirety of Stanley Black & Decker remains sustainable and continues to deliver value to all stakeholders.
ECOSMART™ AND OUR BUSINESSES
ECOSMART™ emphasizes our company-wide sustainability efforts both internally and to the public. Our product development processes across all businesses are being retooled to provide increased focus on early identification of product sustainability opportunities that can be addressed during the design phase. Additionally, we are continuously keeping our innovation teams aware of the latest sustainability trends and issues so they can develop solutions that proactively address society's needs. These process enhancements will help ensure that every product is considered through an ECOSMART™ lens during development.
OUR SUSTAINABILITY STRATEGY
We are actively working to support people by improving the social well-being of the communities where we live and work. This includes helping them gain the skills needed to secure jobs and revitalize communities. We are innovating our products to help develop solutions that address pressing societal needs and minimize impacts across the product lifecycle. And we are positively impacting the environment through our operations by reducing our greenhouse gas (GHG) emissions, water use and waste sent to landfill.
Material issues are plotted on a matrix based on the assessed stakeholder interest (Y-axis) and business impact scores (X-axis). The color coding indicates the issue categorization.
Materials issues are plotted on a matrix based on the assessed stakeholder interest (Y-axis) and business impact scores (X-axis). The customer category ranked the highest (customer satisfaction, product safety, product innovation), followed by the ethics category (responsible business practices; intellectual property, data privacy, and information security; transparency, accountability and responsible marketing; supply chain responsibility), environment category (restricted materials and hazardous substances, waste, air pollution, climate change, water), employees category (health and safety/wellbeing at work, employee satisfaction and engagement, global diversity and non-discrimination), and communities category (partnerships, socio-economic development, philanthropy and volunteering).
Stanley Black & Decker has completed a GRI Index to align with standardized sustainability reporting provided by the GRI principles. This GRI Content Index was prepared to support our transparency and disclosure efforts within the CSR 2030 Strategy and has been prepared in accordance with the GRI Standards: Core option. View GRI & SASB Content Index
Our 2030 Global CSR Strategy provides full coverage of Stanley Black & Decker entities and subsidiaries.