Resideo Technologies Releases 2023 Environmental, Social and Governance (ESG) Report, Demonstrating Progress and Announcing New Long-Term Targets

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Resideo Technologies (NYSE: REZI) has released its 2023 Environmental, Social and Governance (ESG) report, highlighting significant progress and new long-term targets. Key achievements include:

• A 10-point increase in EcoVadis score, placing Resideo in the top 8% of its peer category
• New carbon reduction target of 50% for Scope 1 and 2 emissions by 2035
• Nearly $5M investment in ESG-related capital expenditures for EMEA facilities
• Continued focus on sustainability-aligned innovation through the Green Horizons framework
• Emphasis on employee wellbeing and growth through training and mentorship programs
• Ongoing community impact initiatives with organizations like Mission 500 and Habitat for Humanity

The report underscores Resideo's commitment to transparency and progress in environmental sustainability, social responsibility, and ethical governance.

• 10-point increase in EcoVadis score
• New carbon reduction targets for Scope 1 and 2 GHG emissions

SCOTTSDALE, Ariz., Aug. 28, 2024 /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, safety, smart-living and audio-visual products, today released its 2023 Environmental, Social and Governance (ESG) report, detailing its ESG progress, new climate commitments, and continued execution of its ESG strategy¹.

Experience the full interactive Multichannel News Release here: https://www.multivu.com/players/English/9105153-resideo-technologies-2023-environmental-social-governance-esg-report/

"After five years as a stand-alone company, we are learning more every day about what is necessary to succeed with our customers and in our key markets," said Jay Geldmacher, President and CEO, Resideo Technologies. "At Resideo, we know sustainability is a process and 'It Starts with Us.' Each of our employees has a role to play in making our communities and our planet more resilient and sustainable. We must each take actions to make our business stronger and more sustainable."

Resideo's progress is underlined by its recent 10-point increase in its EcoVadis score². The company's current Silver Medal placing, awarded for the second time, puts it in the top 8% of its peer category across 21 sustainability criteria including environment, labor and human rights, ethics, and sustainable procurement.

Key highlights from Resideo's 2023 ESG report include:

1. Setting Climate Targets and Investing in Solutions: For Scope 1 and 2³ emissions, Resideo is establishing a reduction target of 50% by 2035. In addition, for its EMEA facilities, the company invested nearly $5M in capital expenditures related to ESG, including CO2e reduction projects, reductions in electrical energy costs, improvements in grid dependency and the addition of smart energy meters in multiple facilities.
2. Emphasizing Sustainability-Aligned Innovation: Resideo's product development teams, driven by the company's Green Horizons framework⁴, continue to showcase the role its products play in helping customers save energy, avoid water and fire disasters, and feel safer in their homes.
3. Prioritizing the Wellbeing and Growth of People: In 2023, Resideo continued to provide global training and mentorship opportunities including the Resideo Leadership Program and diversity, equity and inclusion-related training and engagement through its Employee Resource Groups.
4. Continuing a Commitment to Positive Community Impact: 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. Resideo is proud to continue to partner with additional organizations, including Habitat for Humanity International and the Building Talent Foundation to support key areas of safety and security, housing and training.

Resideo's 2023 report is another meaningful step in its ESG journey and commitment to speaking transparently about its goals for environmental sustainability. More information about Resideo's sustainability journey can be found at Resideo.com/sustainability, where the full ESG report is available for download.

1 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 environmental impact through its 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.

2 Resideo's EcoVadis Silver Medal placing means it is in the top 8% of its peer category. The most recent placement marks a 10-point increase from its 2022 submission. https://ecovadis.com/

3 Resideo's climate target considers a baseline year of 2022 and includes reductions in Scope 1 and 2 emissions only.

4 Green Horizons is Resideo's internal blueprint for sustainable product innovation, designed to lay the foundation for the development and evaluation of Resideo products both presently and in the long-term.

About Resideo
Resideo is a leading global manufacturer and developer of technology-driven products and components that provide critical comfort, energy management, smart-living 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.

Contacts
Investor Contact:
Jason Willey
investorrelations@resideo.com

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

 

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SOURCE Resideo Technologies, Inc.

FAQ

What are Resideo's new carbon reduction targets for 2035?

Resideo (REZI) has set a new carbon reduction target of 50% for Scope 1 and 2 emissions by 2035, using 2022 as the baseline year.

How much did Resideo invest in ESG-related capital expenditures for its EMEA facilities?

Resideo (REZI) invested nearly $5 million in ESG-related capital expenditures for its EMEA facilities, focusing on CO2e reduction, electrical energy cost reductions, and smart energy meter installations.

What is Resideo's Green Horizons framework?

Green Horizons is Resideo's (REZI) internal blueprint for sustainable product innovation, designed to guide the development and evaluation of products both in the present and long-term.

How did Resideo's EcoVadis score change in 2023?

Resideo (REZI) achieved a 10-point increase in its EcoVadis score in 2023, maintaining its Silver Medal status and placing the company in the top 8% of its peer category.

What community organizations does Resideo partner with for social impact?

Resideo (REZI) partners with organizations such as Mission 500, Habitat for Humanity International, and the Building Talent Foundation to support safety, security, housing, and training initiatives.