Honeywell has committed to become carbon neutral in its operations and facilities by 2035 through a combination of further investment in energy savings projects, conversion to renewable energy sources, completion of capital improvement projects at its sites and in its fleet of company vehicles, and utilization of credible carbon credits.
Honeywell’s reductions will be reported publicly and third-party verified pursuant to The Greenhouse Gas Protocol. The company’s efforts will result in carbon-neutral operations and facilities as it relates to direct emissions (“Scope 1”) and indirect emissions from electricity and steam (“Scope 2”). In addition, Honeywell has committed to addressing “Scope 3” indirect emissions, which include emissions in the value chain, by enhancing its existing tracking system and partnering with industry leaders to identify and implement best practices while encouraging customers to adopt Honeywell’s climate solutions and products.
How They’ll Do It
In 2019, Honeywell set a new “10-10-10” target to reduce global Scope 1 and Scope 2 greenhouse gas emissions intensity by an additional 10% from 2018 levels, deploy at least 10 renewable energy opportunities, and achieve certification to ISO’s 50001 Energy Management Standard at 10 facilities by 2024. The company is on track to meet these commitments.
Honeywell says that about half of Honeywell’s new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers. The company’s Solstice line of low-global-warming-potential refrigerants, blowing agents and aerosols has already avoided discharge of the equivalent of more than 200 million metric tons of carbon dioxide to the atmosphere. The company also provides process technology to produce biofuels, energy savings performance contracts to deliver energy efficiency in buildings and campuses, and software that helps building owners conserve energy while improving occupant safety and comfort.
Honeywell continues to invest in other 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.