Sands Releases its 2023 Environmental, Social and Governance Report
Progress on the company's 2021-2025 ambitions in emissions reduction, workforce development and community service contributions highlight the reporting cycle's midpoint review.
Aiming toward its 2025 ambition of reducing emissions by 17.5%, the company logged a 50% emissions reduction from a 2018 baseline in 2023. Sands has now spent
Along with solid ESG progress, last year marked a number of major milestones for Sands, including Sands China's relicensing in
Amid these endeavors, Sands made significant progress in multiple areas under the People, Communities and Planet pillars of its corporate responsibility program in 2023.
People – Aiming to invest
Separate of the workforce development investment, Sands spent
In support of the company's commitment to investing in local businesses and SMEs, Sands China launched the Sands Innovation Challenge and Sands Resorts Incubation Centre, which cultivate technology innovation among
Communities – In 2023, the company updated its original 2025 ambition to contribute 150,000 Team Member volunteer hours to community organizations after surpassing that target at the end of 2022 due to intensive support for pandemic-related initiatives along with core
Sands' Communities pillar priorities include helping alleviate hardship for disadvantaged populations and people experiencing crises; investing in capacity-building programs for local nonprofits; supporting initiatives to advance its regions' unique arts and cultural offerings; and working to build a thriving workforce of the future through education. In 2023, three global
Planet – Though business returned to pre-pandemic levels in 2023, greenhouse gas emissions remained significantly below the 2018 baseline with a 50% reduction logged in 2023. Resort visitation grew by 123% in 2023 compared to 2022, and, therefore, energy consumption increased in multiple areas, including fuel use for heating and cooking as well as operation of the Cotai Jet ferry service in
In addition to continuing to surpass emissions as well as water use reduction targets in 2023, the company pursued aggressive efforts to reduce food waste and transition plastics and packaging to sustainable materials. Beyond execution on core environmental priorities in the areas of low-carbon transition, waste, materials and resources, and water stewardship, the Sands ECO360 team remained focused on developing a coordinated strategy for protecting biodiversity, which has been addressed as part of the company's water stewardship and sustainable sourcing initiatives.
"At this midpoint juncture, we are satisfied with the progress on our ambitions and targets but continue to drive hard on all initiatives, especially in areas where we want to increase our impact," Katarina Tesarova, senior vice president and chief sustainability officer, said. "As we look toward our 2025 targets and beyond, we are firmly committed to maintaining strong ESG performance in all aspects of our business."
Underscoring Sands' performance in 2023, the company was named one of Fortune's World's Most Admired Companies in the news outlet's 2024 list of the most respected and reputable global businesses. That designation followed recognition on Newsweek's 2024 America's Most Responsible Companies list and the 2023
For detailed information on Sands' accomplishments under the People, Communities and Planet pillars, read the 2023 ESG Report: https://www.sands.com/content/uploads/2024/06/LVS-ESG-Report-2023.pdf
About Sands (NYSE: LVS)
Sands is the world's preeminent developer and operator of world-class integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.
Sands' portfolio of properties includes
Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Sustainability Indices for World and
Contacts:
Sands
702.923.9142
Kristin.Koca@sands.com
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