Sands Releases its 2024 Environmental, Social and Governance Report

Rhea-AI Summary

Las Vegas Sands (NYSE: LVS) has released its 2024 ESG report, highlighting significant achievements in its 2021-2025 environmental and social initiatives. The company has exceeded its targets in key areas:

- Invested $220 million in workforce development, surpassing the $200 million goal

- Accumulated 255,955 Team Member volunteer hours, exceeding the 250,000-hour target

- Reduced scope 1 and 2 emissions by 50% from 2018 baseline, well ahead of the 17.5% target

Notable 2024 achievements include:

• $3 billion spent on local and SME procurement
• $12 million in philanthropic contributions
• 11% reduction in water use intensity from 2019
• 6% increase in waste diversion rate
• Progress in sustainable initiatives with 62% achievement in sustainable water bottles and 18% in cage-free egg procurement

Positive

• Exceeded emissions reduction target: 50% reduction vs 17.5% goal
• Surpassed $200M workforce development goal with $220M investment
• Exceeded volunteer hours target with 255,955 hours
• $3B spent on local businesses and SMEs
• 11% reduction in water use intensity, exceeding 3% target
• 6% increase in operational waste diversion rate
• Strong ESG recognition: included in Dow Jones Sustainability Indices and top 10% global ESG scores

Negative

• Only 62% progress toward sustainable water bottle goal due by 2025
• progress (18%) on cage-free egg procurement target of 100% by 2028

Company surpasses its 2021-2025 ambitions in workforce development and community service contributions, while performing ahead in emissions reduction.

LAS VEGAS, April 10, 2025 /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) has released its latest environmental, social and governance (ESG) report, outlining the company's 2024 performance on the corporate responsibility priorities established for its 2021-2025 reporting period.

Most notably, Sands has surpassed two of its three primary ambitions in the areas of workforce development and community volunteerism while performing ahead of its 17.5% science-based emissions reduction target. These goals align with the company's People, Communities and Planet corporate responsibility pillars.

At the close of 2024, Sands had spent $220 million on workforce development initiatives, accomplishing its People pillar ambition to invest $200 million by 2025. In achieving this target, Sands spent nearly $38 million in 2024 to advance job skills and career training for Team Members, hospitality industry professionals and the local labor pool in its regions.

The company also surpassed its Communities pillar target of contributing 250,000 Team Member volunteer hours by 2025, with a total of 255,955 hours amassed between 2021-2024. Sands' Team Members logged 33,132 volunteer hours for more than 70 nonprofit organizations in 2024.

Sands' scope 1 and 2 emissions remained below its 2025 Planet ambition of reducing emissions by 17.5% from the 2018 base year, with emissions down 50% in 2024. Implementation of energy-efficiency projects and continued purchases of energy attribute certificates drove progress in this area.

In 2024, the company also released its first low-carbon transition plan, which outlined a new 30% emissions-reduction target that complements its existing 17.5% emissions-reduction target validated by the Science Based Targets initiative (SBTi). Sands aims to achieve the new 30% target, which is aligned with the Paris Agreement to limit temperature increase to 1.5°C, by 2025.

In addition to these primary ambitions, the company made advancements in multiple areas under its People, Communities and Planet pillars in 2024.

People – Separate of the workforce development investment, Sands spent $3 billion to procure goods and services from local businesses and small and medium enterprises (SMEs) around the world, contributing to its regions' economic health and helping sustain job opportunities. The company also invested $26 million in diverse businesses. A variety of programs support workforce and local business development, ranging from Team Member and industry training to supplier advancement through procurement academies and business development opportunities. 

Communities – In addition to the Team Member community service ambition, Sands provided $12 million in philanthropic contributions to nonprofit organizations and continued focusing on building their capacity through both funding and mentorship. The company's signature capacity-building initiative, the Sands Cares Accelerator, incubates the strategic initiatives of nonprofit members and graduated its fourth member in 2024. Community revitalization was another top priority, and Sands China made significant investments in promoting key Macao landmarks and enabling local entrepreneurs to develop businesses in a culturally significant area.

Planet – In addition to maintaining achievement of its emissions-reduction target, Sands met or exceeded desired levels of progress in other areas, including increasing its 2024 operational waste diversion rate by 6% over the 2019 base year, tracking ahead of the 5% increase targeted by 2025. The company also prevented, rescued or diverted 29% of food waste, which is targeted for 25% by 2025.

Sands reduced potable water use intensity by 11% from the 2019 base year, which is ahead of its 3% reduction targeted by 2025. The company continued working toward goals of reducing single-use plastics by transitioning to 100% sustainable solutions for Sands-branded water bottles at the end of 2025, with 62% achieved in 2024, and procuring 100% cage-free eggs by 2028, increasing cage-free egg purchases from 3% of total eggs sourced in 2023 to 18% in 2024.

"In 2025, we are focused on closing the gaps around our 2025 goals and continuing to push ahead in  areas where we've achieved our ambitions or are currently surpassing our targets," Katarina Tesarova, senior vice president and chief sustainability officer, said. "We are motivated to aim higher as we set our sights on a strong finish to our current reporting period and prepare to establish new goals for our 2026-2030 cycle."

Underscoring Sands' performance in 2024, the company was included in the 2024 Dow Jones Sustainability World and North America Indices, Newsweek's 2025 America's Most Responsible Companies list and the S&P Global Sustainability Yearbook 2025, receiving designation among the top 10% of overall global ESG scores. Sands was the only U.S.-based company in the casinos and gaming category listed in the yearbook.

For detailed information on the company's corporate responsibility accomplishments and initiatives, read the 2024 ESG Report: https://www.sands.com/resources/reports/.

About Sands (NYSE: LVS)
Sands is the leading global developer and operator of 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 Singapore and The Venetian^® Macao, The Londoner Macao^®, The Parisian Macao^®, The Plaza Macao and Four Seasons Hotel Macao, and Sands^® Macao in Macao SAR, China, through majority ownership in Sands China Ltd.

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 North America. To learn more, visit www.sands.com.

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SOURCE Las Vegas Sands Corp.

FAQ

What are the key achievements in Las Vegas Sands (LVS) 2024 ESG report?

LVS exceeded targets in workforce development ($220M invested), volunteer hours (255,955), and emissions reduction (50% from 2018 baseline), while spending $3B on local procurement and $12M in philanthropy.

How much did LVS reduce its emissions in 2024 compared to 2018?

LVS reduced its scope 1 and 2 emissions by 50% in 2024 compared to the 2018 base year, significantly exceeding its 17.5% reduction target.

What are LVS's environmental targets for 2025?

LVS aims for a 30% emissions reduction aligned with the Paris Agreement, 100% sustainable water bottles, and continues progress toward 100% cage-free eggs by 2028.

How much did LVS invest in workforce development and local businesses in 2024?

LVS spent $38M on workforce development in 2024 alone, while investing $3B in local businesses and SMEs, plus $26M in diverse businesses.

What sustainability recognition did LVS receive in 2024?

LVS was included in the 2024 Dow Jones Sustainability Indices, Newsweek's Most Responsible Companies list, and ranked in the top 10% of global ESG scores in S&P Global Sustainability Yearbook.