Resideo Technologies Releases 2022 Environmental, Social and Governance (ESG) Report

Rhea-AI Summary

Resideo Technologies Inc. has released its 2022 Environmental, Social and Governance (ESG) report, highlighting progress in product sustainability, reduction in environmental impact, and employee engagement. The report also includes key initiatives and partnerships.

Positive

• Resideo has committed to decreasing greenhouse gas emissions and shares its emissions metrics. It has aligned with the Task Force on Climate-Related Financial Disclosures (TCFD). The company has invested in Diversity, Equity, Inclusion, and Belonging (DEIB) through Employee Resource Groups (ERGs). Resideo's products and solutions have shown positive impact, such as saving water, offsetting energy use, and supporting non-profit organizations. Resideo's ESG mission focuses on innovating sustainable offerings, reducing environmental impact, committing to a safe work environment, and driving fair and ethical governance.

Negative

• None.

• Report Highlights Company's Continued Progress on Product Sustainability, Reductions in Environmental Impact of Manufacturing Operations and Employee Engagement 
• Company Shares Scope 1 and 2 Greenhouse Gas (GHG) Emissions aligned to SASB
• New Report Aligns with TCFD for First Time and Begins Process for CDP

SCOTTSDALE, Ariz., Aug. 30, 2023 /PRNewswire/ -- Resideo Technologies Inc. (NYSE: REZI), a leading global provider of home comfort, life safety and security solutions, and distributor of commercial and residential security and audio-visual products, today released its 2022 Environmental, Social and Governance (ESG) report that demonstrates how the Company has continued its ESG journey since releasing the inaugural report last year. The report showcases continued progress Resideo has made in the areas of product sustainability, reductions in environmental impact of manufacturing operations, increased transparency, a strong focus on company culture, and the development of the next generation of leaders.

Experience the full interactive Multichannel News Release here:
https://www.multivu.com/players/English/9105151-resideo-technologies-releases-2022-environmental-social-governance-esg-report/

"While Resideo is approaching five years as a stand-alone company, we are pleased to have served customers around the world for more than 130 years with solutions that help make homes and buildings, and the people that inhabit them, safer, more secure and sustainable," said Jay Geldmacher, President and CEO, Resideo Technologies. "Throughout our evolution, we have considered the well-being of people and the planet, and today, with the release of our second annual ESG Report, we demonstrate this commitment through our initiatives to help advance the future of living."

Key highlights from Resideo's 2022 ESG report include: 

• Commitment to decrease its greenhouse gas (GHG) emissions, sharing Scope 1 and 2 emissions formally aligned to the Sustainability Accounting Standards Board (SASB) reporting metrics.
• Alignment to the Task Force on Climate-Related Financial Disclosures (TCFD).
• Investment in Diversity, Equity, Inclusion, and Belonging (DEIB), with activities in Employee Resource Groups (ERGs), which are open to all employees.

The Products & Solutions organization was proud to share continued growth in innovation with its Green Horizons framework and the impact its solutions and services can provide, including:

• The Energy Management team helped sustain power in communities during grid emergencies by managing more than 200 individual demand response events for electric utilities that shifted 7.4 GWh of electricity demand¹.
• Leak-detection products helped save consumers an estimated 2.4 million gallons of water in 2022 and helped avoid what would have been more than $2.7 million in insurance claims².
• Resideo's smart thermostats offset the energy use and emissions of 275,000 homes in 2022, saving 2.2 million metric tons of carbon dioxide equivalent³.

ADI Global Distribution continued its partnership with Mission 500, a non-profit organization focused on supporting children and families living in poverty across the U.S. In addition to Mission 500, Resideo is proud to partner with Habitat for Humanity International and Building Talent Foundation to support key areas of safety and security, housing and training.

Resideo's ESG mission and strategy incorporate five specific actions, aligned to its key commitment to contribute to a better world.

• Environmental – Innovate: innovating sustainable offerings in water, air, energy, and security for homes and buildings; Reduce: working toward reducing our environmental impact through our own Resideo footprint. 
• Social – Commit: committing to an equitable, safe and nurturing work environment; Impact: improving the future of organizations, partners and individuals through positive impact in our communities. 
• Governance – Trust: driving a foundation of trust in the market through fair and ethical governance. 

More information about Resideo's sustainability journey can be found at Resideo.com/sustainability, where the full ESG report is available for download.

¹Aggregated results from Demand Response events estimated from 28 utility and energy market load management programs during 2022.

²Estimated gallons saved, and insurance claims based on average flow rate, duration of leaks and the average cost of a water-leak claim. Insurance Information Institute reports both the annual frequency of water claims already used in the calculation and the average claim severity in dollars. 

³Estimated energy savings from Resideo connected thermostats in 2022 were equated to metric tons of Carbon Dioxide Equivalent and energy required to power the average U.S. home using the EPA's Greenhouse Gas Equivalencies Calculator. 

About Resideo
Resideo is a leading global manufacturer and developer of technology-driven products and components that provide critical comfort, energy management, and life safety and security solutions to over 150 million homes globally. Through our ADI Global Distribution business, we are also a leading wholesale distributor of low-voltage security and life safety products for commercial and residential markets and serve a variety of adjacent product categories including audio visual, data com, wire and cable, and smart home solutions. For more information about Resideo, please visit www.resideo.com. 

Investor Contact:
Jason Willey
investorrelations@resideo.com

Media Contact: 
Sarah Reckard
Sarah.Reckard@resideo.com

View original content:https://www.prnewswire.com/news-releases/resideo-technologies-releases-2022-environmental-social-and-governance-esg-report-301913717.html

SOURCE Resideo Technologies

FAQ

What is Resideo's commitment to greenhouse gas emissions?

Resideo has committed to decrease its greenhouse gas (GHG) emissions and shares its Scope 1 and 2 emissions metrics. The metrics are aligned with the Sustainability Accounting Standards Board (SASB) reporting metrics.

What initiatives has Resideo taken in Diversity, Equity, Inclusion, and Belonging (DEIB)?

Resideo has invested in DEIB through activities in Employee Resource Groups (ERGs), which are open to all employees.

What positive impact have Resideo's products and solutions shown?

Resideo's products and solutions have saved water, offset energy use, and supported non-profit organizations. For example, their leak-detection products helped save consumers an estimated 2.4 million gallons of water in 2022 and their smart thermostats offset the energy use and emissions of 275,000 homes, saving 2.2 million metric tons of carbon dioxide equivalent.

What is Resideo's ESG mission?

Resideo's ESG mission focuses on innovating sustainable offerings, reducing environmental impact, committing to a safe work environment, and driving fair and ethical governance.