HONEYWELL PROVIDES VISIBILITY AND CONTROL TO HELP REALIZE CARBON NEUTRAL BUILDINGS

Rhea-AI Summary

Honeywell (Nasdaq: HON) has launched its Carbon & Energy Management software, designed to help building owners track and optimize energy use at a device level. This new offering addresses the challenge of measuring sustainability progress amidst growing pressure from stakeholders and regulatory bodies. Commercial buildings contribute significantly to global energy consumption and CO2 emissions. The software utilizes AI and machine learning to autonomously improve energy efficiency and minimize environmental impact, aligning with Honeywell's commitment to achieve carbon neutrality by 2035.

Positive

• Launch of Carbon & Energy Management software enhances sustainability offerings.
• Utilizes AI and ML for improved energy efficiency and accountability.
• Aligns with Honeywell's goal of achieving carbon neutrality by 2035.

Negative

• None.

• Buildings are typically large contributors to a company's Scope 1 and 2 emissions, yet most organizations don't have the tools to fully understand and control the energy they consume
• Energy-management-as-a-service offering allows companies to fully account for carbon emissions down to a device level
• Product is the cornerstone of full suite of sustainability-focused solutions and services

ATLANTA, June 20, 2022  /PRNewswire/ -- In recent years, thousands of companies have voluntarily pledged to meet sustainability targets, but many of them likely lack the knowledge and the tools to properly measure progress and how to optimize their carbon and energy footprints.ⁱ Honeywell (Nasdaq: HON) is working to help solve this problem with its new Carbon & Energy Management, a carbon energy management software, that enables building owners to track and optimize energy performance against carbon reduction goals, down to a device or asset level.

Honeywell has ready now technologies to help its customers account for carbon emissions in a building at a device level.

Carbon & Energy Management is the centerpiece of Honeywell's new Sustainable Buildings solutions portfolio, which is ready now to help building owners and operators meet two pressing, yet often conflicting, objectives: reducing the environmental impact of buildings while optimizing indoor air quality to support occupant well-being, with the aim of helping them to meet carbon neutral goals.

Companies face increasing pressure today – from stakeholders as well as regulatory agencies – to curb energy consumption, reduce carbon emissions and create more sustainable, healthier facilities. There's an urgent reason for this: commercial buildings currently account for almost a third of global energy consumptionⁱⁱ and 37% of global energy-related CO₂ emissions.ⁱⁱⁱ While 28% of those emissions are related to building operations^iv – or the energy used to heat, cool and power the building – many building owners likely don't have device or asset level insight into energy consumption or carbon impact.

Leveraging the Honeywell Forge enterprise performance management software solution's artificial intelligence (AI) and machine learning (ML) algorithms, Carbon & Energy Management autonomously identifies and implements energy conservation measures to help drive efficiency, resiliency and accountability throughout a real estate portfolio. It continuously investigates, analyzes and optimizes building performance, down to an asset-specific level, measuring critical sustainability KPIs including carbon emissions.

"The buildings industry has long worked to improve energy efficiency and reduce carbon impact, but it is imperative to make meaningful change in the near term – and that means building owners need better data about their operations," said Manish Sharma, vice president and general manager of Sustainable Buildings, Honeywell. "Given the increased awareness of and investment in sustainability, it's critical for a company to know – and to clearly communicate to stakeholders – how its facilities are optimizing energy baselines to reduce their carbon impact. We're helping customers create new metrics for success and removing the complexity of carbon management while balancing healthier spaces with our ready now solutions."

'Impact investors' want to know in specific terms what companies' carbon reduction goals are and what they're doing to meet them.^v According to recent market studies, reducing a building's carbon footprint can potentially increase its commercial value.^vi

Honeywell Carbon & Energy Management establishes an energy performance baseline using up to a three-year usage history, live meter data and environmental factors to determine which assets are driving energy consumption. The enterprise-level Carbon & Energy Management software provides a real-time dashboard of critical sustainability KPIs; aggregates carbon data from energy-related emission sources in a building – gas, electricity and fuel sources; reduces energy consumption using advanced building control capabilities; and reduces carbon footprint without compromising occupant well-being or comfort.

Carbon & Energy Management continuously collects 24/7 energy use data, logged at 15-minute intervals, and submeters all energy-consuming assets to collect granular consumption information. This data allows Honeywell to help customers establish a rigorously derived baseline, provides a roadmap for carbon neutral, and helps customers to execute the roadmap to help meet their carbon neutral goals. The solution allows building owners to avoid capital outlays for technology upgrades to meet sustainability reporting demands and minimize the time required to implement solutions.

Honeywell's advanced Sustainable Buildings portfolio can help meet energy efficiency goals, improve occupant well-being and change the way occupants experience a building. The portfolio aligns with Honeywell's commitment to achieve carbon neutrality in its facilities and operations by 2035, building on a track record of sharply reducing its greenhouse gas footprint as well as its decades-long history of innovation to help customers meet their environment, social and governance goals.

About Honeywell Building Technologies

Honeywell Building Technologies (HBT) is transforming the way every building operates to help improve the quality of life. We are a leading building controls company with operations in more than 75 countries supported by a global channel partner network. Commercial building owners and operators use our hardware, software and analytics to help create safer, more sustainable and productive facilities. Our solutions and services are used in more than 10 million buildings worldwide.

Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

ⁱ UC San Diego Extended Studies, "COP26 and what top companies are doing to lead the way," Jennifer McEntee, April 22, 2022. [Accessed May 6, 2022]  
ⁱⁱ International Energy Agency, "Buildings: A source of enormous untapped efficiency potential." [Accessed May 6, 2022]  
ⁱⁱⁱ World Economic Forum, "Why building greener is crucial to meeting Paris climate targets," Patrick Henry, November 1, 2021. [Accessed May 9, 2022]
^iv World Green Building Council, "Bringing Embodied Carbon Upfront" [Accessed June 9, 2022]  
^v Blackrock, "Larry Fink's 2022 letter to CEOS: the power of capitalism," Larry Fink. [Accessed May 6, 2022]
^vi Financial Review, "Green buildings worth more to investors," Martin Kelly, October 21, 2021. [Accessed May 6, 2022]

Media Contacts:
Honeywell	FINN Partners
Megan McGovern	Meagan Meldrim
(470) 449-6313	(312) 329-3906
Megan.McGovern@Honeywell.com	Meagan.Meldrim@finnpartners.com

 

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SOURCE Honeywell

FAQ

What is Honeywell's new offering regarding carbon management?

Honeywell has introduced Carbon & Energy Management software to help building owners optimize energy use and track carbon emissions.

How does Honeywell's software help with sustainability goals?

The software provides insights at the device level, allowing organizations to measure and improve energy performance against carbon reduction targets.

What is the significance of the launch date for Honeywell's software?

The software was launched on June 20, 2022, amid increasing pressure on companies to reduce energy consumption and carbon emissions.

What are the environmental impacts of commercial buildings?

Commercial buildings account for nearly one-third of global energy consumption and 37% of global energy-related CO2 emissions.

What is Honeywell's carbon neutrality goal?

Honeywell aims to achieve carbon neutrality in its facilities and operations by 2035.