NEW BRITAIN - Stanley Black & Decker announced on Tuesday that it has been recognized by CDP for scoring an “A” grade for water security and concern for climate change.
CDP, formerly known as the Carbon Disclosure Project, is a nonprofit organization that helps corporations measure and manage their environmental impact, according to its website.
Recognition is given after thousands of businesses release information about their environmental opportunities, impacts and risks. The data is disclosed to CDP for assessment.
In 2018, companies were requested to do this by over 650 investors and/or 115 major purchasing organizations with $3.3 trillion in purchasing power. Grades of A to D are given depending on how effectively they are addressing climate change, water security and deforestation. Companies that don’t disclose information at all or don’t provide enough information get an F.
“This is a tremendous recognition of everything we’ve committed to doing to create a more sustainable world, a key pillar of our 2030 corporate social responsibility strategy and core to our company’s purpose,” Stanley Black & Decker CEO and President Jim Loree, said. “We see the potential for businesses to be a force for good and have a positive impact on our customers, communities and employees while we also innovate and grow our business.”
Paul Simpson, CDP’s chief executive officer, congratulated the companies that made it onto the CDP’s “A List” this year.
“As the severity of environmental risks to business becomes ever more apparent, these are the companies that are positioning themselves to provide solutions, seize new market opportunities and thrive in the transition to a sustainable economy,” Simpson said. “We need to urgently scale up environmental action at all levels in order to meet the goals of the Paris Agreement and the Sustainable Development Goals. It’s clear that the business world is an essential player in this transition and the A List companies are set to make a substantial contribution to those goals.”
CDP is a non-profit organization that encourages businesses and governments to reduce their greenhouse emissions and to protect forests. More than 7,000 companies with more than 50 percent of global market capitalization disclosed environmental information through CDP in 2018.
To learn about other companies that made it into CDP’s A list visit https://www.cdp.net/en/scores. To learn more about Stanley Black & Decker visit www.stanleyblackanddecker.com .
Karla Santos can be reached at 860-801-5079 or firstname.lastname@example.org.