The Reuters news staff had no role in the production of this content. It was created by Reuters Plus, the brand marketing studio of Reuters.
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Disclaimer: The Reuters news staff had no role in the production of this content. It was created by Reuters Plus, the brand marketing studio of Reuters. To work with Reuters Plus, contact us here.
The Reuters news staff had no role in the production of this content.
It was created by Reuters Plus, the brand marketing studio of Reuters.
Taking Action
on Sustainability
Having reduced its own carbon footprint by 90% since 2004, Honeywell and its experts are ready now to lead others through their transformations toward carbon neutrality.
From the individual consumer to the largest manufacturer, the future of the planet and our environment is a crucial concern. Few companies are in a position to make as big a difference as Honeywell. A leader in creating products for diverse industries, from building management to aerospace, sensor technologies to chemical and material research, Honeywell’s mission is to supply a range of innovative solutions to businesses for the problems they face—one of the most important of which is fighting climate change.
While Honeywell is helping others become more sustainable and resilient, the company is also striving to lead by example. A supporter of the Paris Agreement’s limiting temperature rise to 2°C, the company aims to be carbon neutral in its operations and facilities by 2035, and it is committing $50 million per year to climate-friendly initiatives and carbon-neutral projects.
Leading this internal transition is Honeywell’s Corporate Energy & Sustainability Team (CEST)—a cross-business, cross-functional group established in 2010. Since then, according to the company’s 2023 Environmental, Social and Governance Report, Honeywell has implemented more than 6,300 sustainability projects at its facilities, resulting in over $100 million in savings. And in 2022, the company kicked off its Environmental Sustainability Index (ESI), a global survey of more than 750 business, technology and sustainability professionals involved in the planning, strategic development, implementation or oversight of environmental sustainability goals. The ESI informs investors and industry leaders in four sustainability categories: Energy Evolution and Efficiency, Emissions Reduction, Pollution Prevention and Circularity/Recycling.
Honeywell executives are leading the charge on energy transition. Over the course of the past year, representatives from Reuters met with a few of them at Reuters events and in one-to-one interviews to learn more about what more needs to be done and what Honeywell is doing to move its clients toward a cleaner future.
2035
Target to be carbon neutral
in operations and facilities
per year to climate friendly initiatives and carbon neutral projects
$50m
sustainability projects implemented by Honeywell
6,300
businesses surveyed for the Environmental Sustainability Index (ESI)
750
Dr. Gavin Towler
Chief Scientist for Sustainability
and Chief Sustainability Officer
At the 2023 Reuters NEXT leadership summit, Reuters sat down with Honeywell’s new Chief Scientist for Sustainability and Chief Sustainability Officer, Dr. Gavin Towler. Honeywell manufacturers control systems for industrial companies in oil, gas, chemicals, aviation and buildings. Sixty percent of Honeywell’s revenue is derived from sustainability, safety and resiliency, and the company has been heavily involved in sustainability since 2004, when they set a goal to be carbon neutral across Scopes 1 and 2 by 2035.
According to Towler, the technologies that Honeywell sell to its customers are the same ones it employs in its facilities. Use of these technologies have enabled the company to achieve a 90% reduction in its carbon footprint since 2004.
The key to Honeywell’s success in sustainability is a strong commitment to sustainability R&D including development of energy storage solutions, carbon capture and emissions control—all of which will support the energy transition. Additionally, Honeywell is at the forefront of developing technology to encourage smart cities, microgrids, healthy buildings and circularity.
While it is a tall task to achieve net zero, Towler is optimistic about the future because of the current generation of climate-conscious people who have grown up fully aware of the challenges of climate change and are motivated to do something about it.
“Every day, I’m interacting with bright, energetic and motivated individuals who are diligently working to apply ready-now solutions and develop future breakthroughs to help customers achieve their toughest sustainability goals,” he says. “It’s awe-inspiring.”
Earlier this year, Reuters spoke with Honeywell’s Senior Vice President and General Counsel, Anne Madden. Having been with the company for over 27 years, Madden is uniquely placed to chart the development of sustainability both within Honeywell and throughout the sector as a whole.
As Madden notes, sustainability is now “a core strategy, not just an add-on or an afterthought or something that we’re made to do because the regulator taught us to. It’s a central part of how we do business.”
Senior Vice President and General Counsel
Anne Madden
This shift in integrating sustainability into operations throughout the business reflects a broader trend in corporate sustainability strategies. It has taken place both gradually, since the creation of Honeywell’s sustainability program about two decades ago, and incredibly quickly, in the aftermath of the pandemic and geopolitical upheavals of the last few years—not to mention the risks from climate change.
We need to create the right environment to support a technology-led transition that’s both timely and sustainable for the long term.
Anne Madden - Senior Vice President and General Counsel
One common challenge in implementing sustainability strategies is the siloed nature of many organizations. Achieving consensus across various teams and functions is crucial for successful execution.
As mentioned above, Honeywell has addressed this by forming its CEST steering committee, unifying the company’s approach to sustainability, and by committing to reducing its Scope 3 emissions by 2037—all of which emphasizes its commitment to sustainability across its value chain.
To ensure compliance and cohesion, Honeywell has appointed a General Counsel of ESG, responsible for global reporting and data harmonization. Its sustainability index, developed with input from sustainability officers, provides valuable insights and guidance.
Honeywell's message is clear: Sustainability isn’t a fleeting trend, and it is essential for tackling the complex challenges of today and tomorrow.
“It can’t be a fad,” Madden says. “It needs to be a core commitment.”
A significant proportion of Honeywell’s R&D spend is directed toward technologies that support sustainability and ESG, including sustainable aviation fuel, plastic recycling tech, and energy storage for carbon reduction in buildings.
Crucially, Honeywell extends the lessons from its own sustainability journey to the world. With customer base responsible for a substantial portion of global carbon emissions, D’Agostino says the company sees “a tremendous opportunity to make a positive impact.”
Accelerating the transition to a sustainable future demands a multifaceted approach. With its expertise in the building environment sector, Honeywell has the knowledge and expertise to achieve healthy and sustainable buildings. To date, more than 10 million buildings around the world have Honeywell Healthy Building technology installations.
Honeywell’s Sustainable Building Technologies Vice President and General Manager, Stefano D’Agostino, told attendees at the Reuters Impact leadership summit that innovations, exciting technologies and transparent practices to address emissions reduction and waste management are of paramount importance.
Vice President and General Manager
Stefano D’Agostino
Stefano D’Agostino - Vice President and General Manager
There is volatility and uncertainty, but it is certain that the ball is rolling and the path to net zero has started.
To expedite the transition to a sustainable future, economic incentives are essential. D'Agostino stresses the importance of establishing regulatory frameworks and tax incentives to drive decarbonization at scale.
Honeywell’s integrated approach, dedication to R&D, and focus on economic incentives and partnerships underscore the importance of a holistic strategy in accelerating the transition to a sustainable future. This is not only something the company is helping to provide its clients across nearly every major aspect of the world economy, but also something that its leaders recognize by leading by example.
Learn more about Honeywell’s sustainability initiatives here.
Honeywell envisions interactive buildings connected to a sustainable power ecosystem and forward-thinking innovations like “conservation-as-a-service” that will enable companies to focus their resources on their core business. D’Agostino highlights three key lessons: digitize buildings for speed and scale, consider the geographical economics of buildings, and establish the right partnerships with technology and financing companies specializing in ESG.
Ultimately, he notes, “net zero for buildings is an economic proposition in the long term. There is payback from these programs.”
Stefano D’Agostino - Vice President and General Manager
Anne Madden - Senior Vice President and General Counsel
Dr Gavin Towler - Chief Scientist for Sustainability and Chief Sustainability Officer
Chief Scientist for Sustainability
and Chief Sustainability Officer
Dr. Gavin Towler
The company's new Chief Sustainability Officer spoke to the audience at Reuters NEXT about what we can do now, and why he's hopeful for the future.
Read more
Senior Vice President and General Counsel
Madden draws on her 27 years of experience at Honeywell when addressing how companies need to embrace sustainability.
Read more
Anne Madden
Vice President and General Manager
D’Agostino tells the audience at Reuters Impact how net zero for buildings is not only possible but is also a viable economic proposition.
Read more
Stefano D’Agostino
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Gold Winner, Low Carbon & Sustainability Bang KoBua Community, Samut Prakan
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The Governor of the Tourism Authority of Thailand (TAT)
Corporate Chief Scientist, Sustainability Technologies and Chief Sustainability Officer
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Gavin Towler
Read more
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Senior Vice President and General Counsel
Anne T. Madden
At the 2023 Reuters NEXT leadership summit, Reuters sat down with Honeywell’s new Chief Sustainability Officer and Corporate Chief Scientist of Sustainable Technologies, Gavin Towler.
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Corporate Chief Scientist, Sustainability Technologies and Chief Sustainability Officer
Gavin Towler
Earlier this year, Reuters sat down with Honeywell’s Senior Vice President and General Counsel, Anne T. Madden. Having been with the company for over 27 years, Madden is uniquely placed to chart the development of sustainability both within Honeywell and throughout the sector as a whole.
As Madden notes, sustainability is now “a core strategy, not just an add-on or an afterthought or something that we're made to do because the regulator taught us to. It's a central part of how we do business.” This shift in integrating sustainability into operations throughout the business reflects a broader trend in corporate sustainability strategies.
This change has taken place both gradually, since the creation of Honeywell’s sustainability program about two decades ago, and incredibly quickly, in the aftermath of the pandemic and geopolitical upheavals of the last few years—not to mention the risks from climate change.
One common challenge in implementing sustainability strategies is the siloed nature of many organizations. Achieving consensus across various teams and functions is crucial for successful execution.
Honeywell has addressed this by forming its CEST steering committee, unifying the company’s approach to sustainability, and committing to reducing its Scope Three emissions by 2037, all of which emphasizes its commitment to sustainability across its value chain.
Earlier this year, Reuters sat down with Honeywell’s Senior Vice President and General Counsel, Anne T. Madden. Having been with the company for over 27 years, Madden is uniquely placed to chart the development of sustainability both within Honeywell and throughout the sector as a whole.
As Madden notes, sustainability is now “a core strategy, not just an add-on or an afterthought or something that we're made to do because the regulator taught us to. It's a central part of how we do business.” This shift in integrating sustainability into operations throughout the business reflects a broader trend in corporate sustainability strategies.
This change has taken place both gradually, since the creation of Honeywell’s sustainability program about two decades ago, and incredibly quickly, in the aftermath of the pandemic and geopolitical upheavals of the last few years—not to mention the risks from climate change.
Senior Vice President and General Counsel
Anne T. Madden
Accelerating the transition to a sustainable future demands a multifaceted approach. With its expertise in the built environment sector, Honeywell has firsthand knowledge of how best to avoid ineffective solutions; how to focus on implementing change with depth and dedication.
The company’s Vice President and General Manager, Stefano D’Agostino, told attendees at the Reuters Impact leadership summit that innovations, exciting technologies and transparent practices to address emissions reduction and waste management are of paramount importance.
Anne T. Madden - Senior Vice President and General Counsel
It can’t be a fad... It needs
to be a core commitment.
A significant proportion of Honeywell’s R&D spend is directed towards technology that supports sustainability and ESG. They recognize the broad applicability of developments that include sustainable aviation fuel, plastic recycling tech, and energy storage for carbon reduction in buildings.
Crucially, Honeywell extends the lessons from their own sustainability journey to the world. With their customer base responsible for a substantial portion of global carbon emissions, D’Agostino says the company sees “a tremendous opportunity to make a positive impact.”
To expedite the transition to a sustainable future, economic incentives are essential. Stefano D'Agostino stresses the importance of establishing regulatory frameworks and tax incentives to drive decarbonization at scale.
Dr. Gavin Towler - Chief Scientist for Sustainability
and Chief Sustainability Officer
You can be working in anything in carbon abatement; it’s probably going to be part of the answer.
Anne T. Madden - Senior Vice President and General Counsel
It can’t be a fad... It needs
to be a core commitment.
