Climate Change Data

Environmental Metrics

ESG Focus Areas

• Energy Efficiency
• Greenhouse Gas Emissions
• Water
• Waste
• Indoor Air Quality

Environmental Achievements

• Reduced greenhouse gas emissions intensity by 53% in Australian offices over 14 years.
• Reduced energy use by an average of 42% in Australian offices over 14 years.
• Reduced energy intensity and carbon emissions intensity in shopping centers by 39% and 45% respectively over nine years.

Social Achievements

• Created new jobs in the energy efficiency sector.
• Supported collaboration among organizations committed to energy efficiency.
• Improved building value.

Governance Achievements

• Established strong governance and trustworthy management.
• Developed collaborative rating tool development.
• Ensured reliable ratings that everyone can trust.

Climate Goals & Targets

Environmental Challenges

• Split incentives in the market where those in the best position to effect change have little or no incentive to do so.
• Information asymmetries between building owners and prospective tenants or buyers.
• Organizational failures within firms meaning that low or no cost opportunities are not taken up.
• Performance gap between modeled energy use in design and actual energy use in operation.

Mitigation Strategies

• Mandatory disclosure of NABERS Energy ratings through the Commercial Building Disclosure (CBD) program.
• Commitment Agreements to ensure targeted NABERS ratings for new buildings.
• Continuous improvement through annual re-rating and monitoring.
• Independent design reviews to test energy modeling and ensure accuracy.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Climate Active Carbon Neutral Standard for Buildings

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 13 (Climate Action)

NABERS initiatives contribute to these goals by improving energy efficiency and reducing greenhouse gas emissions.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• STEM education
• Safe water access
• Child safety
• COVID-19 relief
• Sustainability

Environmental Achievements

• Installed additional duct, inline fans & damper with controllers to reduce chiller load; Installed occupancy sensor for reducing lighting switching operation leading to reduced power consumption by 20%; Replaced Storage Thermal Lantern (STL) isolation valve with better isolation properties valve; Revamping existing APFC (Automatic Power Factor Controller) with smaller steps capacitor bank; Fulgaon factory has solar power generation saving power through green energy – 700 kWp; At Fulgaon factory installed Energy Management system to monitor hourly energy consumption

Social Achievements

• Mobilized resources to distribute food and hygiene kits across nine cities; Partnered with the Government to distribute multi-lingual educational material on hand-washing and social distancing; Worked with local and state authorities to build and hand over COVID-19 care centers and ICUs; Implemented several employee programs to assist them during the challenging period by helping them meet their medical, financial, and family needs; Reimbursed vaccination cost for all employees and immediate family members; Offered COVID-19 support center in select cities with basic nursing and medical care; Launched COVID helpline and COVID micro site for effective help and management

Governance Achievements

• Established a whistle blower/vigil mechanism for its employees and Directors to report their genuine concerns; Adopted a policy on prevention, prohibition, and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013; Every employee is required to complete mandatory online training on Prevention of Sexual Harassment at Workplace

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting industrial production, capital spending, commercial and infrastructure construction, commodity prices, and foreign exchange variations; Supply chain disruptions, extended credit terms, low workplace mobility and logistical challenges; Second wave of COVID-19 impacting pace of economic recovery; Aggressive competitive landscape, pricing pressures on sale of goods and services to Honeywell, or a reduction in the volume or change in the mix of orders or sales to Honeywell

Mitigation Strategies

• Implemented work from home for all employees (except mandatory functions); Conducted RTPCR tests for all employees coming to office; Monitored social distancing and other precautions; Limited visitor site access; Reimbursed vaccination cost; Offered COVID-19 support center; Launched COVID helpline and COVID micro site; Managing variable cost structure, rationalization of discretionary spends, productivity drives

Supply Chain Management

Responsible Procurement

• Vendors are selected through a stringent process; Sustainable sourcing enables the Company to build a strong relationship with suppliers by helping them improving their performance in environmental, social, and ethical aspects; Honeywell has a robust Health, Safety and Environmental (HSE) Policy; Vendors have to ensure compliance to the HSE policy; Vendors must follow the Honeywell Code of Conduct rules

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Pressure and Temperature Transmitters, Enterprise Building Integrator, Emergency Shutdown System

Awards & Recognition

• Golden Peacock Award for Corporate Social Responsibility

Environmental Metrics

ESG Focus Areas

• Decarbonization & Climate Strategy
• Environmental Impact of Products & Services
• Human Capital Management
• Inclusion and Diversity
• Business Ethics & Integrity
• Supply Chain Management/ Responsible Sourcing

Environmental Achievements

• Reduced Scope 1 and Scope 2 greenhouse gas intensity by more than 90% since 2004
• Executed 240 projects addressing nearly 20% of 2021 carbon footprint
• Saved 165 million gallons of water in water-stressed regions through 185+ projects since 2013
• 26 Honeywell locations globally certified for energy management efficiency with ISO 50001

Social Achievements

• 19,000 promotions, lateral moves, and progressions in 2022
• Offered 80+ jobs/internships to students through National Society of Black Engineers
• Recognized as a “BEST PLACE TO WORK FOR DISABILITY INCLUSION” by Disability:IN
• Distributed over $7.7 million in relief assistance to employees since 2004
• Completed 21,000 volunteer hours in 2022

Governance Achievements

• 33% of Board committees are chaired by a woman
• Comprehensive integrity and compliance training made available in 20+ languages
• Implemented digital tools and processes with over 1,000 data elements to enhance our anti-corruption program
• Annual on-site audits of high-risk suppliers to ensure alignment with our Supplier Code of Business Conduct
• Rated a CPA-Zicklin TRENDSETTER by the Center for Political Accountability

Climate Goals & Targets

Environmental Challenges

• Transition risks (policy and legal changes, market shifts)
• Physical risks (acute and chronic events)
• Supply chain disruptions due to climate events

Mitigation Strategies

• Comprehensive program to audit facilities for GHG emission reduction opportunities
• Quarterly evaluation of potential impact from changes in climate-related regulations and litigation
• Continuous innovation to expand sustainable product and service offerings
• Eco-efficiency assessments for new products
• Climate change data incorporated into emergency response plans
• Business Continuity Management Program
• Physical risk considerations incorporated into due diligence for new locations
• Energy efficiency initiatives in new locations and existing facilities

Supply Chain Management

Supplier Audits: Annual on-site audits of high-risk suppliers

Responsible Procurement

• Supplier Code of Business Conduct
• Supplier diversity program
• Screening and vetting of new suppliers
• Continuous monitoring of existing suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Reduced revenue from business disruption
• Increased costs from repairing or restoring damaged locations
• Increased cost related to relocation due to sea level rise
• Increased cost related to increased need for cooling and heating due to changing temperatures

Transition Risks

• Increased pricing of greenhouse gas emissions due to regulations
• Reduced demand for goods and services due to shift in consumer preferences or changes in purchasing power

Opportunities

• Reduced operating costs through efficiency gains
• Increased revenue through demand for sustainable products
• Better competitive position to reflect shifting consumer preferences

Reporting Standards

Frameworks Used: SASB, TCFD, CDP

Certifications: ISO 14001, ISO 45001, ISO 50001, AS9100, RC14001, Rainbow Tick (New Zealand)

Third-party Assurance: Third-party limited assurance per ISO 14064-3 for Scope 1 and 2 GHG emissions

Sustainable Products & Innovation

• Solstice® low-GWP refrigerants
• Ecofining™ technology for renewable fuels
• Honeywell Forge Sustainability+ software
• UpCycle Process Technology for plastics recycling

Awards & Recognition

• CPA-Zicklin TRENDSETTER
• Best Place to Work for Disability Inclusion
• National Partner of the Year (NSBE)
• Best Places to Work LGBTQ+

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Substantially elevated green power sourcing at Hadapsar facility starting January 2024 through third-party PPA model.
• Implemented Zero Liquid Discharge mechanism at manufacturing unit.

Social Achievements

• Various diversity, equity and inclusion initiatives to encourage workplace diversity.
• 100% of permanent employees and workers covered under Maternity and Paternity benefits.

Governance Achievements

• Leverages Honeywell’s policies on anti-corruption and anti-bribery.

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: 60% (for health and safety practices and working conditions)

Responsible Procurement

• Supplier Code of Business Conduct
• Supply chain due diligence program including screening of new suppliers, supplier monitoring, and supplier on-site audits.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO 45001:2018, ISO 14001:2015

Third-party Assurance: Not Applicable

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed