A MESSAGE FROM JIM LOREE
“We believe now is the time for companies like ours to step up and show leadership in social responsibility, especially in ways that are relevant to our business, our purpose and the people we serve. Society needs us.
We’re here to be successful and, to us, that includes generating a positive impact for society at large as well as for our shareholders and our people — creating value, including environmental and social value. Within this report are just a few examples of this spirit in action, showing how being a responsible business moves us all forward.
Our business has the reach, product innovation and mindset to be a powerful force for good, especially in today’s world where so much is changing and being disrupted by technology and new ways of doing business. Corporations like ours can be part of the solution by providing people everywhere with an opportunity to thrive in this new world. Putting our skills and resources to work, our corporate social responsibility strategy is delivering programs to empower those who seek to create and shape the world around us — the makers and creators.”
James M. Loree
President & Chief Executive Officer
PILLARS OF OUR 2030 CORPORATE
SOCIAL RESPONSIBILITY STRATEGY
Enable 10 million creators and makers to thrive in a changing world
- Upskill our employees who may be displaced by technology.
- Empower citizens with vocational training, STEAM education and access to makerspaces.
Innovate our products to enhance the lives of 500 million people and improve environmental impacts
- Create and use products to meet underserved societal needs.
- Improve the lifecycle impact of our products and sourcing, and reduce supply chain greenhouse gas emissions.
Create a More
Positively impact the environment through our operations
- Improve our environmental impacts related to greenhouse gas emissions, water and waste.
OUR CEASELESS PURSUIT OF SOCIAL RESPONSIBILITY
We elevated our historically strong commitment to corporate social responsibility to a new level by launching our enhanced CSR strategy. We consider responsibility and sustainability to be integral to our business strategy and ongoing success, and pursue them accordingly.
NYSE Kicksoff of Our Strategy
We kicked off our 2030 CSR Strategy at the New York Stock Exchange, ringing the opening bell on May 15, 2018, to celebrate both our 175th anniversary as a business and our elevated commitment to social responsibility. It also marked the launch of a new partnership with Discovery Education to bring a stronger maker-focused curriculum into the classroom. Together, we hosted two classes of New York students at the New York Stock Exchange’s Experience Square, inviting them to participate in STEAM-focused educational activities at Stanley Black & Decker’s new mobile Makerspace.
Successful CSR Integration in Due Diligence
We recognize that responsibility and sustainability are not just about us, but also about the business ecosystem around us, which we help to build and shape. Accordingly, we have integrated sustainability principles into our due diligence practices, for the evaluation of any and all potential business partners, suppliers and targets for acquisition. For example, planning for changes in our footprint as we grow and evolve, and integrating with the advanced technologies team to address environmental issues as we execute our Industry 4.0 strategy, ensures that Stanley Black & Decker remains sustainable and harnesses the power of change into the future.
ECOSMART™ AND OUR BUSINESSES
ECOSMART™ emphasizes our company-wide sustainability efforts both internally and to the public. Our product development processes across all businesses are being retooled to provide increased focus on early identification of product sustainability opportunities that can be addressed during the design phase. Additionally, we are continuously keeping our innovation teams aware of the latest sustainability trends and issues so they can develop solutions that proactively address society's needs. These process enhancements will help ensure that every product is considered through an ECOSMART™ lens during development.
Material issues are plotted on a matrix based on the assessed stakeholder interest (Y-axis) and business impact scores (X-axis). The color coding indicates the issue categorization.
Interpretation and Analysis
The grouping of issues highlights strong alignment across external and internal stakeholders on the prioritization of key challenges. Customer focus was identified as the highest priority by both external and internal stakeholders, emphasizing the importance of a continued customer-centric approach based on responsible business practices. Business ethics were clearly identified as the second most important category of issues, reflecting the importance stakeholders place on the way we conduct business. Learn more about our interpretation and analysis
Stanley Black & Decker has completed a GRI Index to align with standardized sustainability reporting provided by the GRI principles. This GRI Content Index was prepared to support our transparency and disclosure efforts within the CSR 2030 Strategy and has been prepared in accordance with the GRI Standards: Core option.
Our 2030 Global CSR Strategy provides full coverage of Stanley Black & Decker entities and subsidiaries.