Honeywell has committed to become carbon neutral in its operations and facilities by 2035 through a combination of further investment in energy savings projects, conversion to renewable energy sources, completion of capital improvement projects at its sites and in its fleet of company vehicles, and utilization of credible carbon credits. These initiatives represent a continuation of the company’s 2004 sustainability efforts, which have driven a more than 90% reduction in the greenhouse gas intensity of its operations and facilities.
“Companies like Honeywell have a unique role to play in shaping a future that is safer and more sustainable for our children and our grandchildren,” said Honeywell CEO Darius Adamczyk. “That’s why I am pleased to commit to achieving carbon-neutral facilities and operations by 2035. Honeywell has a long history of improving our own environmental and sustainability profile while providing innovative products and services that improve our customers’ profiles as well. We will continue to invest in our plants and in new technologies that will reduce our carbon footprint and contribute significantly to global efforts to mitigate climate change.”
Honeywell’s carbon-footprint reduction will continue to be driven through its end-to-end business operating system. Honeywell’s reductions will be reported publicly and third-party verified pursuant to The Greenhouse Gas Protocol. The company’s efforts will result in carbon-neutral operations and facilities as it relates to direct emissions (“Scope 1”) and indirect emissions from electricity and steam (“Scope 2”). In addition, Honeywell has committed to addressing “Scope 3” indirect emissions, which include emissions in the value chain, by enhancing its existing tracking system and partnering with industry leaders to identify and implement best practices while encouraging customers to adopt Honeywell’s climate solutions and products.
In addition to significantly reducing its greenhouse gas intensity, Honeywell has implemented more than 5700 sustainability projects since 2010, saving an annualized US$100 million in costs. In 2019, Honeywell set a new “10-10-10” target to reduce global Scope 1 and Scope 2 greenhouse gas emissions intensity by an additional 10% from 2018 levels, deploy at least 10 renewable energy opportunities, and achieve certification to ISO’s 50001 Energy Management Standard at 10 facilities by 2024. Honeywell says it is on track to meet these commitments.
Honeywell’s commitment to carbon neutrality builds on the company’s decades-long history of innovation to help its customers meet their environmental and social goals. In fact, about half of Honeywell’s new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers.
The widespread adoption of Honeywell’s Solstice line of low-global-warming-potential refrigerants, blowing agents, and aerosols has already avoided discharge of the equivalent of more than 200 million metric tons of carbon dioxide (CO2) to the atmosphere. That equates to removing more than 42 million cars from the road for a year. Honeywell also provides process technology to produce biofuels, energy savings performance contracts to deliver energy efficiency in buildings and campuses, and software that helps building owners conserve energy while improving occupant safety and comfort.
Honeywell continues to invest in other leading-edge sustainability technologies, including energy storage solutions such as flow batteries that allow surplus wind and solar power to be stored and used when needed, along with technologies to support the decarbonization of residential, commercial, and industrial energy by replacing natural gas with hydrogen.