Stanley Black & Decker is a worldwide leader in tools and outdoor hardware, operating manufacturing facilities globally. Headquartered in the USA, the company has disclosed through CDP at a leadership level for over a decade, effectively utilizing CDP Reporter Services and the benefits as a CDP Supply Chain member. The company was awarded an A-for climate and named to the Supplier Engagement Rating Leaderboard for 2023.
Disclosing through CDP is a critical aspect of the company’s ESG strategy. Guided by its purpose – for those who make the world™ – Stanley Black & Decker strives to be a force for good in support of its communities, employees, customers and other stakeholders. In 2024, the company is building on its momentum to drive impact where it can make the greatest difference through a more focused approach to its ESG strategy and goals.
"Stanley Black & Decker refreshed our ESG targets to better align with the current business portfolio and our customer expectations, positioning us for long-term sustainable growth,” said Greg Polk, Vice President, Corporate Affairs. “Our participation in CDP disclosure tracks our progress toward meeting the goals we have set. We remain dedicated to driving the greatest positive change through our best-in-class people, brands and innovation.”
Focused commitments
Stanley Black & Decker’s refreshed goals align to the Science Based Targets Initiative criteria to reduce its Scope 1 and 2 carbon footprint by 42 percent by 2030 against its new 2022 baseline. To accomplish this, the company will continue to invest in renewable power sources like wind and solar, optimize its capital investments and evaluate additional tools like power purchase agreements and energy attribute certificates.
Also, it will strengthen the sustainability of its products in pivotal areas. The company’s circular design goal prioritizes the development of packaging solutions to meet customer and regulatory expectations. Its commitment to electrification of products includes beneficial impacts of reducing greenhouse gas emissions, establishing more thoughtful end-of-life repair and reducing noise pollution. These impactful targets align with its intensity-based goal to reduce the Scope 3 emissions of products during the material, transportation and use phases by 52 percent by 2030. The company will also pursue zero-waste-to-landfill across all global manufacturing and distribution sites by 2040.
Supply chain & customer engagement
The climate change and supplier engagement questionnaires connect Stanley Black & Decker’s strategy across the business to engage stakeholders who demonstrate an investment throughout their supply chain to address environmental impacts.
Since Purchased Goods and Services (Scope 3 Category 1) accounts for the largest portion of its upstream carbon footprint, the company’s Scope 3 target includes a commitment from two-thirds of its suppliers by spend to set science-based emissions reduction targets by 2027. To achieve this, the company connected with more than 1,200 suppliers in 2023, engaging them to complete a supply chain survey through CDP’s platform and contribute to its own decarbonization goals.
Downstream its value chain, Stanley Black & Decker discloses emissions from its largest Scope 3 category, Use of Sold Products. CDP Supply Chain customer engagement has increased 10x by spend and 5x in number since its first reporting year, demonstrating the significance of the company’s disclosure year-over-year. Stanley Black & Decker’s partnership with CDP reflects its focused approach to creating a positive impact through the optimization of its ESG strategy.