Honeywell International Inc. is a multinational conglomerate headquartered in Charlotte, North Carolina, United States. The company operates in the diversified industrials sector and specializes in providing advanced technology solutions to various industries, including aerospace, building technologies, performance materials and technologies, and safety and productivity solutions. Honeywell's mission is to make the world a safer, more sustainable, and more productive place.
Decarbonisation is a key focus area for Honeywell. The company is committed to reducing its carbon footprint and helping its customers achieve their sustainability goals. Honeywell has set a target to reduce its greenhouse gas emissions by 10% by 2022 and 30% by 2025, compared to its 2018 baseline. The company is also working on developing innovative technologies that can help decarbonize industries such as aviation, transportation, and manufacturing.
Corporate energy is another area of focus for Honeywell. The company provides a range of energy management solutions to help its customers optimize their energy usage, reduce costs, and improve their sustainability performance. Honeywell's energy management solutions include building automation systems, energy analytics, and renewable energy technologies. The company's expertise in energy management has helped it become a leader in the smart building market.
Corporate power purchase agreements (PPAs) are a key tool for companies looking to transition to renewable energy. Honeywell has been actively pursuing corporate PPAs to help meet its renewable energy goals. In 2019, the company signed a 12-year PPA with a solar project in North Carolina, which will provide 16% of the company's electricity needs in the state. Honeywell has also signed PPAs for wind and solar projects in other parts of the world.
Renewable energy is a growing area of focus for Honeywell. The company is committed to increasing its use of renewable energy and helping its customers do the same. Honeywell has set a target to source 10% of its electricity needs from renewable sources by 2022 and 18% by 2025. The company is also working on developing innovative renewable energy technologies, such as its Solstice line of low-global-warming-potential refrigerants.
In addition to its focus on decarbonisation, corporate energy, corporate PPAs, and renewable energy, Honeywell is also committed to sustainability in other areas. The company has set a target to achieve zero waste to landfill at its global sites by 2025. Honeywell is also working on developing sustainable products and solutions that can help its customers reduce their environmental impact.
Honeywell's commitment to sustainability is reflected in its corporate governance structure. The company has a Sustainability Council, which is responsible for overseeing the company's sustainability strategy and ensuring that sustainability is integrated into all aspects of the company's operations. Honeywell also publishes an annual sustainability report, which provides transparency on the company's sustainability performance and progress towards its sustainability goals.
In conclusion, Honeywell International Inc. is a multinational conglomerate that is committed to sustainability and decarbonisation. The company's focus on corporate energy, corporate PPAs, and renewable energy, as well as its commitment to zero waste to landfill and sustainable product development, demonstrate its commitment to sustainability. Honeywell's expertise in energy management and innovative technologies make it a leader in the smart building market and a key player in the transition to a low-carbon economy.