STOCK TITAN

Sonos Announces Long-term Sustainability Commitment

Rhea-AI Impact
(No impact)
Rhea-AI Sentiment
(Positive)
Tags

Introduces Sonos Climate Action Plan, commits to being carbon neutral by 2030 and achieving net zero by 2040.

Launches Product Sustainability Program to drive down the environmental impact of its products.

SANTA BARBARA, Calif.--(BUSINESS WIRE)-- Today Sonos (Nasdaq: SONO) introduced its first Climate Action Plan as the foundation of its commitment to a more sustainable future. Implementing the plan will drive Sonos’ value chain to carbon neutrality by 2030 and to net zero by 2040. Details of the plan were released as part of Sonos’ 2021 Listen Better Report, offering an annual overview of the company’s ESG efforts.

“With our Climate Action Plan, we’re entering a new phase in our commitment to environmental responsibility, stepping up our efforts across the board to reduce our impact,” said Patrick Spence, Sonos CEO. “Sonos is a company founded on innovation; we are invigorated by the challenge to innovate and create better solutions for our customers and for the planet.”

Complementing a clear and measurable climate plan, Sonos also introduced a new approach to product sustainability, with an immediate goal of improving energy efficiency, given that more than three quarters of Sonos’ carbon emissions can be attributed to the energy consumed during each product’s lifecycle.

Taking Action on the Climate Crisis

Sonos partnered with VitalMetrics to map the carbon footprint of the company's value chain - from sourcing materials and packaging, to product use and end-of-life. Based on this environmental baseline report, Sonos developed a Climate Action Plan to guide reduction of greenhouse gas emissions across the company’s areas of greatest impact - products, supply chain and distribution - as well as direct operations.

“To make the changes necessary to protect our environment in the coming decades, all corporations must first understand the full impact they have on the environment. This is challenging, expansive work, and we are pleased to see Sonos stepping up,” said Sangwon Suh, chief scientist at VitalMetrics. “I hope more companies follow their lead to develop ambitious climate targets based on science and take real actions to accomplish them.”

With a primary focus on product and operational carbon reductions, supported by high-quality, verified offsets, Sonos is committed to meeting its goals through natural strategies including habitat regeneration and conservation. For the year ahead, Sonos has partnered with SeaTrees by Sustainable Surf to help offset Sonos’ direct emissions with a marine ecosystem project in the Southern Cardamom Watershed in Cambodia.

"We’re stoked to have Sonos help us restore blue carbon ecosystems around the world, and reverse climate change, while creating positive sustainable development benefits for local communities,” said Kevin Whilden, Co-Founder and Executive Director of Sustainable Surf.

The Climate Action Plan also has Sonos collaborating with organizations using sound to improve the environment and funding cutting-edge bioacoustic research. The company has also joined Music Declares Emergency to support the wider music industry in reducing its environmental impact.

“We are committed to a sustainable future for Sonos and for our planet, and we’re beginning that journey with ambitious targets,” said Deji Olukotun, Sonos Director of Policy and Corporate Social Responsibility. “The climate crisis demands an accelerated pace of innovation from all companies. This means working together with partners, and harnessing our resources and meaningful partnerships to drive the greatest possible impact.”

Transforming Product Design and Performance

Sonos has long believed a premium listening experience can be consistent with environmental consciousness. In addition to its Climate Action Plan, Sonos today introduced its Product Sustainability Program designed to drive down the carbon footprint and overall environmental impact of its products.

The company unveiled short- and long-term targets across energy efficiency, materials, product longevity and packaging, and this year, will conduct its first product environmental life cycle assessment.

  • Energy Efficiency: Product energy use is the most significant contributor to Sonos’ carbon footprint. The company is committed to improving the energy efficiency of its product portfolio, with a focus on idle and sleep states. Sonos introduced sleep mode with Roam – helping make it Sonos’ most energy efficient speaker – and by FY23, all new Sonos products will include sleep mode. The company aspires to reduce idle power consumption to less than 2 watts for its entire portfolio, starting with all portable products in FY22.
  • Product Longevity: Sonos strives to keep its products in use for a long time and continues to support every speaker it has released. In FY21, the company began a new Design for Disassembly process, which will be incorporated into all new speakers and components, starting in FY23. This approach builds in features – such as fasteners instead of adhesives – that make it easier to repair, refurbish and recycle.
  • Materials: Electronic waste (e-waste) is one of the fastest-growing waste streams in the world. Sonos is working towards a circular future where its products can be recycled to make new Sonos products. By the end of FY23, 100% of new Sonos products will begin using post-consumer recycled plastic in place of virgin plastics, and will also be 100% halogen-free.
  • Packaging: A comprehensive approach to product circularity must include packaging. And to Sonos, premium packaging also means responsible packaging. This year, Sonos undertook a major packaging design update using FSC (Forest Stewardship Council) certified, proprietary Sonos Custom Kraft paper. This paper was first used for Roam, and will continue to be used for new products launching between FY22 and FY25. By FY25, Sonos packaging will be made with 100% responsibly sourced paper, including paper that is either PCR (post-consumer recycled), FSC-certified or made from plant-based fibers as we aim to eliminate plastics from our packaging entirely. The company continues to reduce the use of plastics from its packaging, using PCR plastics where necessary.

Transforming Supply Chain & Distribution

As part of its sustainability commitment, Sonos also announced it is joining the Responsible Business Alliance (RBA), the world's largest industry coalition dedicated to corporate social responsibility in global supply chains, and will commit to progressively align its own operations with the social, environmental and ethical industry standards outlined in the RBA Code of Conduct.

“We look forward to having Sonos support our vision of companies driving sustainable value for workers, the environment and business throughout the global supply chain,” said Rob Lederer, CEO of the Responsible Business Alliance (RBA). “As a member of the RBA, Sonos joins like-minded companies dedicated to improving working and environmental conditions and business performance through leading standards and practices.”

Sonos will spend the next year formalizing its environmental goals and refining the company’s approach to the supply chain and distribution focus areas of its Climate Action Plan. This includes working with major suppliers to improve their respective climate footprints, and exploring the localization of repairs and refurbishment where possible.

About Sonos

Sonos (Nasdaq: SONO) is the world’s leading sound experience company. As the inventor of multi-room wireless home audio, Sonos innovation helps the world listen better by giving people access to the content they love and allowing them to control it however and wherever they choose. Known for delivering an unparalleled sound experience, thoughtful design aesthetic, simplicity of use, and an open platform, Sonos makes the breadth of audio content available to anyone. Sonos is headquartered in Santa Barbara, California. Learn more at www.sonos.com.

Media Contact

Tom Lodge

PR@sonos.com

Source: Sonos

Sonos, Inc.

NASDAQ:SONO

SONO Rankings

SONO Latest News

SONO Stock Data

1.70B
121.01M
2%
93.06%
8.2%
Consumer Electronics
Household Audio & Video Equipment
Link
United States of America
SANTA BARBARA