Masco Corporation Sets Science-Based Target to Reduce Emissions by 50% by 2030

Rhea-AI Summary

Masco Corporation (NYSE: MAS) has set an aspirational target to reduce its scope 1 and 2 absolute greenhouse gas emissions by 50% by 2030 compared to 2020 levels. This initiative aligns with science-based targets to address climate change. CEO Keith Allman emphasized the company's commitment to sustainability through energy efficiency, renewable energy usage, and waste reduction. Masco aims to not only improve its environmental impact but also enhance the well-being of its workforce and communities. For more information on its sustainability efforts, visit masco.com/sustainability/.

Positive

• Aspirational target to reduce greenhouse gas emissions by 50% by 2030 compared to 2020.
• Commitment to sustainability aligns with science-based targets.
• Focus on energy efficiency and renewable energy use.

Negative

• The forward-looking nature of the emissions target introduces uncertainty regarding execution and results.

LIVONIA, Mich.--(BUSINESS WIRE)-- Masco Corporation (NYSE: MAS) today announced that it is setting an aspirational target to reduce its scope 1 and 2 absolute greenhouse gas emissions by 50% by the year 2030 compared to 2020 emissions. This goal aligns with the current standard of science-based targets deemed necessary to mitigate the worst effects of climate change.

“As a global leader in the design, manufacture and distribution of branded home improvement and building products, we believe our business should be part of the solution to the world’s climate crisis. Actively reducing emissions is an important step toward preserving our planet, protecting the thousands of Masco employees who work across the globe, and sustaining our planet and business for future generations,” said Keith Allman, President and Chief Executive Officer of Masco.

Allman continued, “We have a culture of continuous improvement, and we are moving forward on this front by making our facilities more energy efficient, increasing the use of renewable energy and continuing to reduce waste in our operations. This goal is another example of our commitment to doing business the right way and further enables our purpose to provide better living possibilities—for our homes, our environment and our community.”

Masco is committed to conducting business in a manner that is mindful of its environmental impact and promotes and sustains the health, safety, skills and potential of its workforce. To learn more about Masco’s sustainability efforts, visit masco.com/sustainability/.

About Masco Corporation

Headquartered in Livonia, Michigan, Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes Behr® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; Kichler® decorative and outdoor lighting; and HotSpring® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders. For more information about Masco Corporation, visit www.masco.com.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995, including our aspirational target to reduce emissions by 50% by 2030. Such statements involve risks and uncertainties that are difficult to predict and are based on certain assumptions and circumstances that may shift or evolve over time and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. We caution you against relying on any of these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005253/en/

Media Contact

Sue Sabo

Director – Communications and Corporate Giving

313-792-6226

sue_sabo@mascohq.com

 

Source: Masco Corporation

FAQ

What is Masco Corporation's greenhouse gas emissions reduction target?

Masco aims to reduce its scope 1 and 2 absolute greenhouse gas emissions by 50% by 2030 compared to 2020.

How does Masco plan to achieve its emissions reduction goal?

Masco plans to improve energy efficiency, increase renewable energy usage, and reduce waste in its operations.

What is the significance of Masco's emissions reduction target?

The target aligns with science-based standards necessary to mitigate climate change.

When was Masco's emissions reduction initiative announced?

The initiative was announced on January 18, 2023.

Who is the CEO of Masco Corporation?

Keith Allman is the President and CEO of Masco Corporation.