Resideo Technologies Releases Inaugural ESG Report
- Report Highlights Company's Early Progress on Product Sustainability, Reductions in Environmental Impact of Manufacturing Operations and Employee Engagement
- Company Achieves Silver Medal Status from EcoVadis, a leading Global CSR Rating Company
SCOTTSDALE, Ariz., Oct. 27, 2022 /PRNewswire/ -- Resideo Technologies Inc. (NYSE: REZI), a leading global provider of home comfort and security solutions and distributor of commercial and residential security and audio-visual products, today released its inaugural Environmental, Social and Governance (ESG) report. The comprehensive report highlights the Company's sustainability journey since its formation in 2018, specifically covering its efforts to advance the Company's Purpose, to partner in lock step with customer responsibility goals, and to invest further in its people.
"This report is the culmination of a company-wide effort to identify our most pressing ESG priorities and challenges, develop a comprehensive framework for operationalizing our ESG commitments and track our progress, and ultimately provide greater transparency to our stakeholders regarding our ESG journey," said Jay Geldmacher, Resideo's president and CEO. "We believe this focus on sustainability is a key element of our vision to help protect what matters most. We are a purpose-driven company and recognize the strong connection between ESG and business performance."
Key highlights from Resideo's 2021 ESG report include:
- Introduces Resideo's corporate ESG framework and Green Horizons, an emerging internal qualification standard for sustainable product offerings.
- Resideo achieved silver medal status by EcoVadis, a leading global Corporate Social Responsibility and sustainable procurement rating platform, placing us in the top 25% of our peer category1
- ADI Global Distribution awarded Mission 500 Corporate Social Responsibility honor.
- Resideo estimates that more than 50% of our revenue from Products & Solutions comes from HVAC products that can contribute to, or can result in, energy savings in homes or buildings.
- Resideo's smart thermostats helped customers save 1.6 million metric tons of Carbon Dioxide Equivalent, comparable to the energy used by nearly 200,000 homes for one year.2
1 Benchmarked to the manufacturers of general-purpose machinery, which includes ~1350 companies. The sector average is 43.
2 Estimated energy savings from Resideo connected thermostats in 2021 were equated to metric tons of CO2 equivalent and energy required to power the average U.S. home using EPS's Greenhouse Gas Equivalent Calculator. This calculation also leverages 2015 RECS Survey Data.
- Resideo water leak detectors helped save $2.6 million in insurance claims and 2.4 million gallons of water in 2021.3
- Resideo is a social impact partner to leading organizations, including the Building Talent Foundation and Habitat for Humanity International.
Resideo's ESG mission and strategy incorporate five specific actions, aligned to our 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 www.resideo.com/sustainability, where the Company's 2021 ESG report is available for download.
Resideo is a leading global manufacturer and distributor of technology-driven products and solutions that provide comfort, security, energy efficiency and control to customers worldwide. Building on a 130-year heritage, Resideo has a presence in more than 150 million homes globally, with 15 million systems installed in homes each year. We continue to serve more than 110,000 professionals through leading distributors, including our ADI Global Distribution business, which exports to more than 100 countries from nearly 200 stocking locations around the world. For more information about Resideo, please visit www.resideo.com.
3 The estimation of gallons saved and insurance claim reduction in 2021 is the average water loss during pipe burst events and other insurance industry data.
This release contains "forward-looking statements." All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks and uncertainties, which may cause the actual results or performance of the Company to differ materially from such forward-looking statements. Such risks and uncertainties include, but are not limited to, statements regarding the Company's business; future financial position and business strategy; our ESG commitments, plans, policies, procedures and initiatives; and the other risks described under the headings "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" in our Annual Report on Form 10-K for the year ended December 31, 2021 and other periodic filings we make from time to time with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and actual results, developments, and business decisions may differ from those envisaged by our forward-looking statements. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the Company's ability to implement and fulfill any of the ESG commitments, strategies, plans or initiatives described in this press release or the ESG report. Except as required by law, we undertake no obligation to update such statements to reflect events or circumstances arising after the date of this press release and we caution investors not to place undue reliance on any such forward looking statements.
SOURCE Resideo Technologies, Inc.