Honeywell Targets Carbon Neutrality by 2035
Industrial products, solutions and technologies company Honeywell announced today a new commitment to achieve carbon neutrality in its operations and facilities by 2035. The company has also pledged to quantify and address where possible carbon emissions in its supply chain.
Honeywell outlined several of the initiatives it will pursue in order to achieve its new goal, including energy savings projects, converting to renewable energy sources, completing capital improvement projects at company sites, electrifying its fleet of company vehicles and using credible carbon offsets. The initiatives represent a continuation of the company’s sustainability efforts since 2004, which have already driven a more than 90% reduction in the greenhouse gas intensity of its operations and facilities.
Honeywell Chief Sustainability Officer Evan van Hook said:
“Our full pledge is to both go carbon neutral for our operations and facilities, but also to continue to investigate and evaluate carbon emissions up and down our supply chain and to quantify them and to address them where possible.”
The new goals add to the company’s ongoing 2024 targets, launched in 2019, to reduce global Scope 1 and Scope 2 GHG emissions intensity by 10%, deploy at least 10 renewable energy opportunities, and achieve certification to ISO’s 50001 Energy Management Standard at 10 facilities. Honeywell stated that it has implemented more than 5,700 sustainability projects since 2010, saving an annualized $100 million in costs.
Honeywell also noted that roughly half of the company’s new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers. The company is investing in 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.
Darius Adamczyk, Chairman and CEO of Honeywell, said:
“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, and 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.”