We seek to inspire makers and innovators to create a more sustainable world in alignment with our purpose—For Those Who Make The World.TM
Building on our deep historical focus on environment, health and safety, sustainability and community engagement, we believe corporations have a broader role to play in society, a role which relates to helping solve the world’s challenges, including climate change, income inequality and workforce development. In short, we’re working to be a force for good.
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
President & Chief Executive Officer
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.
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 with Purpose
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 reduce supply chain greenhouse gas emissions.
Create a More Sustainable World
Positively impact the environment through our operations.
- Improve our environmental impacts related to greenhouse gas emissions, water and waste.
OUR SOCIAL RESPONSIBILITY STRATEGY ALIGNS WITH THE UNITED NATIONS 2030 SUSTAINABLE DEVELOPMENT GOALS.
Redefining Corporate Purpose Around Stakeholders
CEO Jim Loree was one of more than 180 CEOs who issued a new statement redefining the purpose of corporations, which articulated that the needs of shareholders need to be balanced with those of customers, employees, suppliers and local communities. Released via the Business Roundtable, an association of CEOs from America’s leading companies, the statement for the first time clearly emphasizes a commitment to make a positive impact on all stakeholders, not just shareholders. Other prominent CEOs who signed the statement include the leaders of Amazon, JPMorgan Chase, Apple, Ford, CVS Health and Dell.
Joining the UN Global Compact
Stanley Black & Decker has committed to the principles of the UN Global Compact, along with nearly 10,000 companies that are helping to shape the world’s sustainability agenda, communicate commitments and progress, and advance their own knowledge and understanding of key issues in order to achieve long-term growth. Members have a leadership seat with other industry leaders and UN and government officials, and collaborate on global and local partnerships and projects, always looking to scale project impact.
Climate Scenario Planning
As a responsible business, we are thinking deeply and creatively 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. Taking a holistic look at our products, processes and opportunities, we explored topics ranging from evaluating 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. We committed to revising our Environmental Risk Management process to ensure a risk assessment is conducted at least yearly, in a process that incorporates outcomes from climate change scenario analyses.
Implementing CSR in Acquired Companies
Our commitment to responsibility and sustainability extends beyond our walls and footprint. As we help to build and shape the business ecosystem around us, we have integrated sustainability principles into our due diligence practices for all potential business partners, suppliers and acquisition targets. And 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.
American Innovation Index
Top 20 Most Innovative Company
Top 20 Most Socially Innovative Company
Dow Jones Sustainability Index
Silver Class Sustainability Award
North America Index
U.S. Chamber of Commerce Foundation Citizen Awards
Best Corporate Steward: Large Business
National Inventors Hall of Fame, U.S.
S. Duncan Black and Alonzo G. Decker inducted for handheld power tools
America’s Best Employers for Diversity
Climate ‘A’ List
Water ‘A’ List
PR Week Purpose Awards
Brand of the Year
Recognized for our deep commitment to corporate social responsibility
Human Rights Campaign
Perfect score of 100
Corporate Equality Index for LGBTQ Workplace Equality
FORTUNE Magazine World’s Most Admired Companies
No. 1 Overall in Home Equipment & Furnishings Category (2020)
Our ECOSMART™ Advantage
ECOSMART™ signifies our commitment to a sustainable future and is embedded in everything we do, across our entire value chain. We continue to improve the sustainability of our operations, our products and our communities while helping our suppliers and our customers to do the same. This has led to consistent recognition amongst our peers as a standout company with respect to our environmental, health and safety practices. However, we always believe that we can and should do more, and are working so that each day can be better than the last.
About This Report
Stanley Black & Decker’s Corporate Social Responsibility report updates stakeholders on our strategies and progress toward our commitments and is organized in three main subsections: Empower Makers; Innovate with Purpose; and, Create a More Sustainable World. It also includes a materiality assessment and sustainability scorecard of key performance indicators. This report has been prepared in accordance with Global Reporting Initiative (GRI) standards (Core option), which continues to guide the evolution of our reporting on environmental, social and governance performance. For the first time we are also publishing disclosures under three Sustainability Accounting Standards Board (SASB) sections: Industrial Machinery and Goods Manufacturing; Appliances Manufacturing; and, Electrical and Electronic Equipment Manufacturing. It includes forward-looking statements about our business plans, initiatives and objectives, which may change based on subsequent developments.