Newell Brands Releases 2021 Corporate Citizenship Report and Sets 2040 Carbon Neutral Goal for all Scope 1 and Scope 2 Emissions

Rhea-AI Summary

Newell Brands (NASDAQ: NWL) released its 2021 Corporate Citizenship Report, outlining progress in sustainability, operational impact, and employee engagement amidst challenges like COVID-19 and supply chain issues. Key goals include achieving carbon neutrality by 2040 and increasing 20% recycled content in packaging by 2025. Highlights include improved employee engagement scores, increased diversity representation, and significant community contributions totaling nearly $17 million.

Positive

• Achieved carbon neutrality goal by 2040 for Scope 1 and 2 emissions.
• Improved employee engagement score to 75.
• Diversity representation increased to 35% women in leadership roles.
• Donated over $17 million in products to communities.

Negative

• None.

Third-annual report highlights progress against corporate citizenship goals on operations, sustainability and diversity, inclusion and belonging and introduces new goals for packaging and philanthropy

ATLANTA--(BUSINESS WIRE)-- Newell Brands Inc. (NASDAQ: NWL) announced today the release of its annual 2021 Corporate Citizenship Report, Creating Shared Value. The third-annual report showcases Newell Brands’ progress on its corporate citizenship goals to create more sustainable products, reduce operational impacts, prioritize the success and growth of employees and invest in communities. Newell Brands is proud of its achievements over the past year while facing the longer-term impacts of COVID-19, including global supply chain pressures, inflation, labor shortages and ongoing health and safety concerns.

“We are delighted to share our 2021 Corporate Citizenship Report and I’m pleased announce our goal to achieve carbon neutrality by 2040 for all Scope 1 and 2 emissions across our portfolio. This commitment symbolizes a significant step forward in our efforts to do our part to combat climate change,” said Ravi Saligram, Newell Brands President and CEO. “We dramatically improved employee engagement and continued driving our diversity, inclusion and belonging programs, including making progress on overall representation of people of color in the United States. I applaud our 32,000 employees for embracing corporate citizenship as a key tenet of our culture and making Newell Brands a force for good in the world.”

In 2021, Newell Brands conducted its first materiality assessment to better understand the corporate citizenship topics most important to stakeholders. Based on the materiality assessment, Newell Brands shifted to four corporate citizenship focus areas which guide the Company’s reporting, including Products, Planet, People and Communities. Across the four areas, accomplishments highlighted in the report include:

Products

• Introduced the Innovation Operating Model, a strategy for product innovation that incorporates new tools for sustainable design.
• Added a new 2025 packaging goal to use at least 20 percent non-virgin (recycled content) in plastic packaging for Newell manufactured goods.
• Seventy designers participated in the Earth Day Design Jam and created concepts for turning waste into new products.
• Nearly 83,000 pounds of Home Fragrance products have been collected and recycled through a partnership with TerraCycle since it launched in 2020.

Planet

• A cross-functional Climate Task Force was established to create a climate policy and establish a plan for carbon neutrality. Newell Brands committed to carbon neutrality by 2040 for all Scope 1 and 2 emissions across the global portfolio.
• Piloted an eight-week energy management program across eight sites that resulted in the identification of 6.2 million kWh of excess energy that could be reduced.
• Thirteen facilities around the world submitted projects for consideration during the Newell Brands Sustainability Excellence Awards program.

People

• Improved the employee engagement score to 75, in line with global benchmarks and a significant improvement from prior employee engagement surveys.
• Achieved representation of 35 percent women among the direct reports of Business Unit CEOs and center-led Functional Heads as part of the Company’s diversity, inclusion and belonging goals.
• Launched three new leadership development employee programs around the world.
• Reported a .62 global recordable incident rate that is considered a world-class level among manufacturers.

Communities

• Donated more than 15 million products worth nearly $17 million to support communities in need.
• Through the Newell Brands Charitable Foundation, supported 14 nonprofits in eight communities across the United States as part of the Foundation’s Local Impact Grant Program.
• Created the company’s first matching gift program where employees can donate to three different organizations and the funds are matched dollar-for-dollar by the Newell Brands Charitable Foundation.
• Established philanthropic goal to invest $1 million in our communities through the Local Impact Grant Program by 2025.

Newell Brands understands that operating sustainably and giving back are critical to the long-term success of the company. The report provides the company's latest disclosures against the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD) frameworks. More information on these and other sustainability accomplishments can be found in the full report and Executive Summary. Visit NewellBrands.com to learn more about the Company’s corporate citizenship programs.

About Newell Brands

Newell Brands (NASDAQ: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Rubbermaid, FoodSaver, Calphalon, Sistema, Sharpie, Paper Mate, Dymo, EXPO, Elmer’s, Yankee Candle, Graco, NUK, Rubbermaid Commercial Products, Spontex, Coleman, Campingaz, Contigo, Oster, Sunbeam and Mr. Coffee. Newell Brands' beloved, planet friendly brands enhance and brighten consumers' lives at home and outside by creating moments of joy, building confidence and providing peace of mind.

This press release and additional information about Newell Brands are available on the company’s website, www.newellbrands.com.

Forward-Looking Statements

This news release contains forward-looking information based on management's current views and assumptions, including goals for and projections of future results, the expected execution and effect of our sustainability and citizenship strategies and initiatives and the amounts and timing of their expected impact. These statements that are based on management's expectations and beliefs concerning future events impacting the company. Many factors outside our control, including competitive pressures, evolving legal and regulatory requirements, and societal and market conditions globally and in the markets in which we do business, could cause actual results to vary.

There can be no assurance that these future events will occur as anticipated. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to publicly update them. Please refer to the cautionary statements set forth in the "Forward-Looking Statements" section and under the caption “Risk Factors” in Newell Brands’ Annual Report on Form 10-K for other factors that could affect these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005723/en/

Investor Relations:

Sofya Tsinis

Vice President, Investor Relations

+1 (201) 610-6901

sofya.tsinis@newellco.com

Media:

Beth Stellato

Chief Communications Officer

+1 (470) 580-1086

beth.stellato@newellco.com

 

Source: Newell Brands Inc.

FAQ

What are Newell Brands' sustainability goals for 2021?

Newell Brands aims for carbon neutrality by 2040 and plans to have at least 20% recycled content in plastic packaging by 2025.

How did Newell Brands perform in employee engagement in 2021?

Newell Brands improved its employee engagement score to 75 in 2021, aligning with global benchmarks.

What was Newell Brands' donation amount to communities in 2021?

Newell Brands donated over $17 million worth of products to support communities in need in 2021.

What challenges did Newell Brands face in 2021?

Newell Brands faced challenges including COVID-19 impacts, supply chain pressures, and inflation.

What progress did Newell Brands make in diversity and inclusion in 2021?

In 2021, Newell Brands achieved 35% representation of women among direct reports of Business Unit CEOs.