For a Third Consecutive Year, Stanley Black & Decker Recognized with 'A' Score for Global Climate and Water Stewardship

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Dec 09, 2020, 08:33 ET

NEW BRITAIN, Conn., Dec. 9, 2020 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) has been recognized for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its 'A List' for the third consecutive year for its efforts to tackle climate change, as well as acting to protect water security – two of the three environmental themes covered by CDP. Stanley Black & Decker has been named to the Climate A List seven times in total and the Water A List four times.

"Stanley Black & Decker is a purpose-driven company and aims to be a force for good," said Stanley Black & Decker President & CEO Jim Loree. "Abiding by the principles embedded in stakeholder capitalism, we are focused on creating a more sustainable world. This is a key pillar of our 2030 Corporate Social Responsibility strategy and aligns with our purpose – For Those Who Make The World. We are committed to sharing our progress against our environmental, social and governance goals and are honored to be recognized at the leadership level for these efforts by CDP for the third consecutive year."

Stanley Black & Decker's Corporate Social Responsibility (CSR) strategy is aligned with the United Nations' 2030 Sustainable Development Goals. The strategy focuses the company's efforts on three key pillars: empowering makers, innovating with purpose and creating a more sustainable world. By 2030, Stanley Black & Decker plans to enable 10 million creators and makers to thrive in a changing world, innovate their products to enhance the lives of 500 million people, and, be carbon positive in its global operations, meaning its carbon capture is greater than its carbon emissions.

CDP's Methodology:

CDP's annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2020, over 515 investors with over US$106 trillion in assets and 150+ major purchasers with US$4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP's platform. Over 9,600 responded – the highest ever.

A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don't disclose or provided insufficient information are marked with an F.

"We extend our congratulations to all the companies on this year's A List," said Paul Simpson, CEO of CDP. "Taking the lead on environmental transparency and action is one of the most important steps businesses can make and is even more impressive in this challenging year marked by COVID-19. The scale of the risk to businesses from climate change, deforestation and water insecurity is enormous, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector will create an 'ambition loop' for greater government action and ensure that global ambitions for a net zero sustainable economy become a reality. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today."

The full list of companies that made this year's CDP A List is available here, along with other publicly available company scores: https://www.cdp.net/en/companies/companies-scores

About Stanley Black & Decker

Stanley Black & Decker is a $14 billion revenue, purpose-driven industrial organization. Stanley Black & Decker has 54,000 employees in more than 60 countries and operates the world's largest tools and storage business, the world's second largest commercial electronic security company, a leading engineered fastening business as well as Oil & Gas and Infrastructure businesses. The company's iconic brands include Black & Decker, Bostitch, CRAFTSMAN, DEWALT, FACOM, Irwin, Lenox, Porter Cable and Stanley. Stanley Black & Decker is a company for the makers and innovators, the craftsmen and the caregivers, and those doing the hard work to make the world a better place.

About CDP

CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who disclosed, making CDP's platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit https://cdp.net/en or follow us @CDP to find out more.

SOURCE Stanley Black & Decker