Whether its reducing methane gas emissions or reaching a carbon-neutral state, sustainability is a popular topic in our country and globally
Honeywell CEO, Darius Adamczyk stated that"50% of the companies R&D spend is focused on ESG solutions." For those that aren't familiar with ESG, it stands for environmental, social, and governance. That means that the company is putting a massive amount of actual dollars towards researching and developing solutions that positively impact the Earth.
It is estimated that some 1,600 companies, accounting for trillions of dollars in revenue have publicly set their sustainability pledges by now. This puts them on track to transition from pledge to performance, - something that will continue to be monitored over the next 15+ years, long after the current CEO will likely be at the helm.
According to the Oil & Gas Methane Partnership, in 2021, the global oil and gas industry lost $19 billion of natural gas due to methane leaks. Not only is it a costly mistake, but it is also harmful to the environment. The oil and gas industry has more effect on our climate than all the gas-powered vehicles on the planet because of the large amount of Methane it releases into the atmosphere.
The company has its hands in many different sectors. However, its diversity is also a strength when it comes to sustainability—playing a role in green fuels, hydrogen, plastics recycling, carbon capture, and more positions Honeywell as one of the most committed companies to sustainability in my eyes. After seeing Honeywell's current suite of sustainability solutions, I believe the company could be one of the leaders in sustainability solutions for the foreseeable future.
Moor Insights & Strategy, like all research and tech industry analyst firms, provides or has provided paid services to technology companies. These services include research, analysis, advising, consulting, benchmarking, acquisition matchmaking, or speaking sponsorships.
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