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
We’ve elevated our historically strong commitment to corporate social responsibility to a new level with an enhanced strategy that is rooted in our purpose—For Those Who Make The World. We are for the makers and creators, the builders and the caregivers. We take our responsibility to all our stakeholders seriously and understand that sustainability is integral to our business strategy.
Today, more than ever, I believe that pursuing purpose and focusing on all our critical stakeholders—employees, customers, governments, communities and our shareholders is an imperative. Whether you look at income inequality, geopolitical turmoil or the accelerating pace of technological change, it’s clear that society is having a tough time keeping up. And for businesses and capitalism to thrive, we need sustained economic prosperity, geopolitical stability and an environmental climate that supports our operations.
There is a great opportunity for the world, as traditional organizations like ours find their purpose and take action. We recognize that we are just in the early days of this journey. Core to our focus are areas around climate change and income and gender equality. Launched just two years ago, our corporate social responsibility strategy is driving our engagement, and is holding us accountable. We have established ambitious, aspirational goals and aligned our work with the United Nations 2030 Sustainable Development Goals.
Our purpose—For Those Who Make The World—is to empower and inspire the makers and creators who shape the world around us, for the good of all. We are here to be a force for good.
James M. Loree
Chief Executive Officer
Stanley Black & Decker
PILLARS OF OUR 2030 CORPORATE
SOCIAL RESPONSIBILITY STRATEGY
Enable 10 million creators and makers to thrive in a changing world
- Upskill our employees who may be displaced by technology.
- Empower citizens with vocational training, STEAM education and access to makerspaces.
Innovate our products to enhance the lives of 500 million people and improve environmental impacts
- Create and use products to meet underserved societal needs.
- Improve the lifecycle impact of our products and sourcing, and reduce supply chain greenhouse gas emissions.
Create a More
Positively impact the environment through our operations
- Improve our environmental impacts related to greenhouse gas emissions, water and waste.
OUR CEASELESS PURSUIT OF SOCIAL RESPONSIBILITY
Enhancing Our CSR Strategy By Joining the United Nations Global Compact
Creating the world we all want – that’s the goal of the UN Global Compact, which we’ve joined in March 2020 as part of our commitment to being a socially responsible company. The UN Global Compact initiative is a voluntary leadership platform for the development, implementation and disclosure of responsible business practices. The Compact is a call to companies everywhere to align their operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment and anti-corruption. These principles closely align to our CSR strategy and associated sustainable development goals. Pillar 1 Empower Makers addresses the principles in the areas of human rights, Pillar 2 Innovate with Purpose addresses social needs and labor. Lastly, Pillar 3 Creating a More Sustainable World addresses environmental principles. We are proud to join the more than 9,500 companies and 3,000 non-business signatories based in over 160 countries that are participants of the UN Global Compact.
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. In 2019, we 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’ve established bold goals for change focused on three key pillars of sustainability: people, products and the planet. We are actively working to support people by improving the social well-being of the communities where we live and work, including building 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).
INTERPRETATION AND ANALYSIS
The grouping of issues highlights strong alignment across external and internal stakeholders on the prioritization of key challenges. Customer focus was identified as the highest priority by both external and internal stakeholders, emphasizing the importance of a continued customer-centric approach based on responsible business practices. Business ethics were clearly identified as the second most important category of issues, reflecting the importance stakeholders place on the way we conduct business. Learn more about our interpretation and analysis
We are leveraging this materiality assessment to further inform our strategic decision making and target setting. Although we do not expect issues to change dramatically year to year, we will continue to regularly monitor and update material issues and engage key stakeholder groups on a regular basis.
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.