Sands Releases its 2023 Environmental, Social and Governance Report
Las Vegas Sands (NYSE: LVS) has released its 2023 ESG report, which reviews the midpoint of its 2021-2025 ambitions. The company has made significant strides in emissions reduction, reducing emissions by 50% from the 2018 baseline, surpassing its 2025 target of a 17.5% reduction. In workforce development, Sands has invested $181 million towards a $200 million goal, and in community volunteerism, it has logged 222,823 hours towards a new goal of 250,000 hours by 2025.
Key achievements in 2023 include Sands China's relicensing in Macao, the grand opening of The Londoner Macao, and the completion of phase one renovation at Marina Bay Sands. The company also received LEED Gold Certification for its new Las Vegas headquarters. Additionally, Sands spent $2 billion on local procurement and launched several initiatives to support local businesses and innovation.
Sands remains committed to its ESG goals, with continued efforts in low-carbon transition, waste reduction, and community support. The company was recognized by Fortune and Newsweek for its responsible and sustainable business practices.
- Reduced emissions by 50% from the 2018 baseline, surpassing the 2025 target of 17.5%.
- Invested $181 million toward a $200 million goal in workforce development.
- Logged 222,823 volunteer hours towards a new 2025 goal of 250,000 hours.
- Received LEED Gold Certification for its new Las Vegas headquarters.
- Relicensed in Macao and opened The Londoner Macao.
- Completed phase one of the $1 billion renovation at Marina Bay Sands.
- Spent $2 billion on local procurement in 2023.
- Increased energy consumption in multiple areas due to a 123% rise in resort visitation.
Progress on the company's 2021-2025 ambitions in emissions reduction, workforce development and community service contributions highlight the reporting cycle's midpoint review.
Aiming toward its 2025 ambition of reducing emissions by
Along with solid ESG progress, last year marked a number of major milestones for Sands, including Sands China's relicensing in
Amid these endeavors, Sands made significant progress in multiple areas under the People, Communities and Planet pillars of its corporate responsibility program in 2023.
People – Aiming to invest
Separate of the workforce development investment, Sands spent
In support of the company's commitment to investing in local businesses and SMEs, Sands China launched the Sands Innovation Challenge and Sands Resorts Incubation Centre, which cultivate technology innovation among
Communities – In 2023, the company updated its original 2025 ambition to contribute 150,000 Team Member volunteer hours to community organizations after surpassing that target at the end of 2022 due to intensive support for pandemic-related initiatives along with core Sands Cares volunteer programs. Aiming toward its new 2025 goal of contributing 250,000 Team Member volunteer hours to communities, Sands reported 222,823 cumulative volunteer hours from 2021-2023. The company is well on its way to meeting the ambition, which supports its overarching commitment to ensuring host communities remain great places to live, work and visit.
Sands' Communities pillar priorities include helping alleviate hardship for disadvantaged populations and people experiencing crises; investing in capacity-building programs for local nonprofits; supporting initiatives to advance its regions' unique arts and cultural offerings; and working to build a thriving workforce of the future through education. In 2023, three global Sands Cares programs continued to unite the company's regions around community impact, with execution of the 10th Sands Cares Global Hygiene Kit Build and the second Sands Cares Global Food Kit Build, as well as completion of the Sands Cares Accelerator's seventh year of incubating the strategic initiatives of invited nonprofit members in
Planet – Though business returned to pre-pandemic levels in 2023, greenhouse gas emissions remained significantly below the 2018 baseline with a
In addition to continuing to surpass emissions as well as water use reduction targets in 2023, the company pursued aggressive efforts to reduce food waste and transition plastics and packaging to sustainable materials. Beyond execution on core environmental priorities in the areas of low-carbon transition, waste, materials and resources, and water stewardship, the Sands ECO360 team remained focused on developing a coordinated strategy for protecting biodiversity, which has been addressed as part of the company's water stewardship and sustainable sourcing initiatives.
"At this midpoint juncture, we are satisfied with the progress on our ambitions and targets but continue to drive hard on all initiatives, especially in areas where we want to increase our impact," Katarina Tesarova, senior vice president and chief sustainability officer, said. "As we look toward our 2025 targets and beyond, we are firmly committed to maintaining strong ESG performance in all aspects of our business."
Underscoring Sands' performance in 2023, the company was named one of Fortune's World's Most Admired Companies in the news outlet's 2024 list of the most respected and reputable global businesses. That designation followed recognition on Newsweek's 2024 America's Most Responsible Companies list and the 2023 Dow Jones Sustainability World and North America Indices.
For detailed information on Sands' accomplishments under the People, Communities and Planet pillars, read the 2023 ESG Report: https://www.sands.com/content/uploads/2024/06/LVS-ESG-Report-2023.pdf
About Sands (NYSE: LVS)
Sands is the world's preeminent developer and operator of world-class integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands in
Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Sustainability Indices for World and
Contacts:
Kristin Koca
Sands
702.923.9142
Kristin.Koca@sands.com
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SOURCE Las Vegas Sands Corp.
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