Honeywell is committed to working with the SciEnce-based Carbon Target Initiative to develop emission reduction targets that include other indirect greenhouse gas emissions from the value chain (Scope 3)

More than 60% of Honeywell’s revenue in 2021 will come from businesses that help solve global ESG challenges. About 60% of the company’s new product research and development starts with improving customers’ environmental performance and social benefits

Honeywell announced a further strengthening of its sustainability commitment, building on last year’s goal of achieving carbon neutrality for all business operations and facilities by 2035, by working with the Science-based Carbon Target Initiative (SBTi) to develop science-based reduction targets that include other indirect greenhouse gas emissions from the value chain, known as “Scope Three” emissions.

Honeywell will work closely with the Science-based Carbon Target Initiative over the next two years to further quantify other indirect emissions from the company’s value chain and develop appropriate reduction targets.

Start from me, take the initiative to reduce emissions

Honeywell has already committed to achieving carbon neutrality in both direct emissions (Scope 1) and indirect energy emissions (Scope 2) by 2035. The inclusion of Scope 3 emissions in the reduction target is a strong manifestation of the company’s commitment to further strengthen sustainable development.

In addition, Honeywell announced that it has joined the U.S. Department of Energy’s Better Climate Challenge initiative, which is committed to halving the company’s local Scope I and Scope II greenhouse gas emissions and improving energy efficiency by 10 percent by 2030, using 2018 as the base year. As part of the plan, Honeywell will set milestones for greenhouse gas reduction, share progress and solutions with other organizations, and report its emissions data within a 10-year time frame.

Honeywell’s commitment to sustainability continues the company’s 20-year commitment to reducing greenhouse gas emissions. Since 2004, the company has reduced the greenhouse gas emission intensity of its operations and facilities by more than 90%, and we are determined to use the latest scientific and technological means to continuously reduce our environmental impact. At Honeywell, sustainability is a comprehensive commitment that covers our facilities, operations, and products.

Join hands with partners to meet challenges together

In addition to its commitment to reducing its own emissions, Honeywell provides customers with innovative technologies and solutions that are driven by positive environmental, social and corporate governance (ESG) outcomes. About 60% of the company’s new product development is to improve the customer’s environmental performance and social benefits as the starting point; In 2021, more than 60% of the company’s sales will come from businesses that help solve global ESG challenges.

Honeywell will take a number of steps to meet its carbon neutrality commitments, including investing in energy efficiency projects, adopting renewable energy sources, implementing asset improvement programs and, where necessary and permitted, utilizing reliable carbon offsetting mechanisms, and achieving these goals through company-owned technologies whenever possible. In addition, Honeywell is committed to addressing Scope 3 indirect emissions in the enterprise value chain through a continued focus on product innovation, Honeywell Environmental solutions, which are available to two-thirds of the world’s greenhouse gas emission sources, and working with industry leaders to identify and adopt best practices.

Since 2004, Honeywell has repeatedly set and exceeded aggressive sustainability goals. In 2019, Honeywell set three new “ten” goals: to reduce Scope 1 and Scope 2 greenhouse gas emissions by an additional 10 percent by 2024 from 2018 levels, deploy at least 10 renewable energy opportunities, and have 10 business facilities certified to ISO 50001 energy management systems. In 2021, the company committed to achieving carbon neutrality for all business operations and facilities by 2035. Honeywell has implemented more than 6,100 sustainability projects since 2010, resulting in an average annual cost savings of $105 million. In addition, Honeywell supports the overall goals of the Paris Agreement, which was adopted at the 21st United Nations Climate Change Conference in December 2015.

In China, Honeywell is also committed to the company’s sustainability commitments and to the country’s sustainability goals of peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060. For example, the Suzhou plant of Honeywell Safety and Productivity Solutions Group was successfully selected to the Green Manufacturing Demonstration List published by the Ministry of Industry and Information Technology of China and won the title of “Green Factory” demonstration enterprise. Through advanced technology, perfect equipment, stable quality system, lean production mode and strong sense of sustainable development, the factory has won a number of international certifications and government recognition in terms of production safety and sustainable development management, becoming a classic case of sustainable development to achieve the balanced development of enterprises, society and the environment.

China’s “dual carbon” goal is a milestone event in the process of global response to climate change, and also brings broader development opportunities for the majority of enterprises. Honeywell has been in the Chinese market for nearly 90 years, adhering to the strategy of “East serves East”, by continuously developing products and technologies to meet customers’ energy and environmental needs, serving the vision of high-quality development in China, and working with Chinese partners to shape a sustainable future.