Discussions around the transition of the global energy sector to sustainable energy sources have been going on for decades, but this transition is now a global priority due to increased public pressure, political and commercial will and the development of technologies to support the transition.
Honeywell President and CEO Darius Adamczyk recently shared with Bloomberg’s Erik Schatzker how Honeywell is innovating to help our customers switch to sustainable energy sources and help customers achieve results focused on the environment, Society and Governance (ESG) during a fireside chat at the Qatar Economic Forum.1
Here are some of Darius’ highlights:
It is very clear that the world needs many technological solutions around sustainability, not only related to energy, but also to human health, well-being and safety. Through the range of solutions we offer, Honeywell adds value when it comes to sustainability.
Much of Honeywell’s history is rooted in technologies that optimize energy efficiency. The development of control and automation solutions that today connect to the Internet of Things is an important part of our company’s heritage and, in many cases, these controls and automation help optimize energy consumption. energy, whether for buildings, energy networks or aviation.
Continued investments are needed throughout the energy supply chain to enable the transition.
For example, there is a lot of pent-up demand for flying, and aviation has come back faster than most of us would have expected. This is mainly due to consumer travel.
As energy is consumed, we need technologies that can make that consumption as efficient as possible – in the aviation sector, this is where Honeywell innovations like hydrogen fuel cells and technology to produce sustainable aviation fuel (SAF) are essential.
In 2021, we committed to being carbon neutral in our facilities and operations by 2035.
Sustainability is not new to Honeywell. Since 2004, we have reduced our own greenhouse gas intensity by more than 90% and achieved an improvement of approximately 70% in energy efficiency.
Recently, we announced a set of enhanced sustainability commitments, including setting a science-based target to further quantify and set a target to reduce our Scope 3 greenhouse gas emissions.
Additionally, by joining the U.S. Department of Energy’s Better Climate Challenge, we are committed to reducing U.S. Scope 1 and 2 GHG emissions by 50% and improving 10% more energy efficiency by 2030, compared to 2018.
To achieve this, we will use our own technologies whenever possible.
1The methodology for identifying ESG-oriented solutions is available oninvestor.honeywell.com(see “ESG/ESG information/Identification of ESG-oriented offers”).