Innovations with purpose utilize the creative spirit of our diverse and talented minds to deliver socially responsible solutions for a sustainable planet.”
Innovation is a pillar of our 2030 Corporate Social Responsibility strategy — harnessing one of our signature strengths for the purpose of contributing to a better world. We are looking to address unmet societal needs through innovative products, invest in circular design, improve the sustainability of our supply chain, and explore new business models that decouple revenues from resource use.
2030 UN Sustainable
Our products are aimed at being a force for good in the world — helping people climb up out of poverty, improving the environment, building and maintaining vital infrastructure, making our cities more sustainable — especially when produced with responsible consumption in mind.
Our 2030 Goal
Innovate Our Products to Enhance the Lives of 500 Million People by 2030
Actions to 2030 Goal:
Addressing Unmet Societal Needs
Deliver “innovation with purpose” projects, which address unmet societal needs, improve the lives of 500 million people, and contribute 10% of Stanley Black & Decker revenue.
Design products for circularity across material selection, use and end-of-life considerations.
Sustainable Supply Chain
Source raw materials, finished goods, components and services from suppliers that meet environmental and social sustainability criteria; reduce supply chain emissions by 35% by 2030, based on a 2017 baseline. Complete CDP Supply Chain Climate Change assessments for 80% of our supplier spend by 2020.
New Business Models
Decouple revenue from resource use by increasing the share of revenue from services versus products.
Combatting Plastic Pollution Through Innovative Packaging
Stanley Black & Decker has committed to make all of our plastic and non-plastic packaging reusable, recyclable or compostable by 2025. We believe that a world without plastic pollution is possible, and are taking action to ensure we are part of that solution. We have joined with leading businesses and governments and signed the New Plastics Economy Global Commitment, an initiative of The Ellen MacArthur Foundation and United Nations Environment Programme. The Global Commitment represents a plan to eradicate waste and pollution driven by plastic packaging through a circular economy for plastic, and includes 250 signatories that represent approximately 20 percent of all plastic packaging produced globally.
In 2018, Stanley Black & Decker ran a successful inaugural year for our STANLEY+Techstars Accelerator, focused on Additive Manufacturing. In 2019, our Accelerator program will not only consider startups focused in this field, but also companies innovating around sustainable packaging. Utilizing our Accelerator program to attract world class talent focused on eco-friendly solutions furthers our commitment in this space.
100% Recyclable, Reusable, Compostable Packaging by 2025
The Global Battery Alliance
Due to the importance of batteries in our business, we joined the World Economic Forum’s Global Battery Alliance. The Alliance is a global public-private partnership that seeks to catalyze, connect and scale-up efforts to ensure that the battery value chain is innovative, socially responsible, and environmentally and economically sustainable. As members, we’ll provide insight and collaborate with other members to drive action across the following thematic areas: Raw Material Supply, Circular Economy, and Innovation Along the Value Chain.
STANLEY Earth® in India — Project Update
NADI, our first product under the STANLEY Earth® brand, is an innovative response to a problem that has plagued rural India: the lack of reliable, clean energy to drive irrigation. This clean-technology solution combines our core competency in brushless DC motors with solar power, creating an off-the-grid water pump solution for rural farmers.
With this innovation, small farms that could only grow vegetables will be able to harvest hundreds of kilograms of grain. With consistent water supply from our solar pumps, farmers across India can grow multiple crops in a year, helping to improve their quality of life and feed many more people. Our vision is to ultimately deliver a Solar Agricultural Platform, with a pump that not only enables affordable and efficient irrigation, but also integrates innovative technologies such as precision farming through IoT, drip irrigation, cold storage and off-grid energy.
The STANLEY Earth Clean Tech Pump was nominated for a Financial Times / International Finance Corporation Transformational Business Award for Achievement in Sustainable Development: Food, Water and Land.
Cordless Generator Powers Disaster Relief in Carolinas
When disaster hits and takes out the electrical grid, responders and work crews need power quickly to rescue people, clear roads, power lights and bring infrastructure back on line. Our new STANLEY Portable Power Hub can help. This system provides clean, quiet, renewable and virtually limitless energy (with solar panels) in areas where power is inaccessible. This year, it got its baptism in the emergency response to Hurricane Florence in the Carolinas. A team of Stanley Black & Decker volunteers were stationed outside of Wilmington, North Carolina, helping a community devastated by the floods. This team saw first-hand the value of this rechargeable, solar-powered hub, as they were able to respond immediately and swiftly.
Sponsorship with Virginon Formula E
This global motorsports brand partnership with DS Virgin Racing provides a new platform for Stanley Black & Decker to help develop breakthrough and sustainable innovations for the electric vehicle and mobility industries. DS Virgin Racing is one of the founding and leading teams in the all-electric FIA Formula E Championship — the world’s first fully electric single-seater racing series.
As part of the agreement, STANLEY Engineered Fastening will provide technical and operational support to the DS Virgin Racing team. Along with providing tools, fastening systems and other high performance products to the team, we will be collaborating with the team’s engineers to help develop future technologies.
STANLEY Engineered Fastening’s innovations are helping to make the future of the electric car possible by enabling cars to be lighter weight. This partnership with another highly purpose-driven organization working towards a carbon positive future underscores our commitment to sustainability and reducing environmental impact.
We aspire to source our raw materials, finished goods, components and services from suppliers that meet our evolving sustainability criteria. We have already established initial criteria and improved related supplier performance. By 2020, 80% of our supplier spend will have completed CDP Supply Chain Climate Change assessments. We will be instituting additional criteria related to water usage and other factors that go beyond greenhouse gas emissions. We are committed to working with our suppliers of products, goods and services to reduce supply chain emissions by 35%, by 2030. In 2018, 100% of new suppliers in China and India were assessed for adherence to our social and environmental expectations; 234 assessments were completed.