SOURCE: Las Vegas Sands
The release of the 2020 Environmental, Social and Governance Report (ESG) continues fulfilling our long-standing commitment to being a good corporate citizen, and to transparency and accountability in reporting on our efforts in support of our corporate responsibility pillars: to the People who both work at and visit our resorts, the communities we call home and the Planet we all share. A central component of the report is an accounting of our environmental and sustainability efforts.
A cornerstone of our business, our commitment to environmental sustainability is just as important to our operations as are our commitments to our People and Communities. Through SandsECO360, our global sustainability program, we minimize environmental impact and promote sustainability practices in our business regions throughout the world, focusing primarily on green buildings, environmentally responsible operations, and green meetings and events.
In the final year of our most recent environmental reporting cycle, which ended in 2020, we maintained focus on our pursuit of science-based targets, in line with the Science-Based Target Initiative (SBTI). We also committed considerable energy and resources to reducing waste in our resort operations, combatting climate change and supporting organizations around the world working to preserve our planet’s resources.
We set goals for reducing our greenhouse gas emissions by six percent, starting with a 2015 baseline. By 2019, we had met and exceeded that goal a full year ahead of schedule. We also realized a total emissions reduction in 2020 of 38 percent for our resort operations, and 92 percent for ferry operations, with our renewable energy initiatives helping to drive a large portion of those reductions. Additionally, each of our properties, from Las Vegas to Macao, increased their purchases of renewable energy credits, to help provide more emissions-free electricity to our guests.
The report also details our progress toward a comprehensive renewable energy strategy. Since 2016, we’ve maintained a focus on on-site generation, renewable energy credit purchases and other carbon offsets. In Las Vegas and Singapore, for example, solar panels have been installed on the roofs of parking garages and other key structures and renewable energy credits have been purchased, combining to significantly offset energy use, with 100 percent of electricity at The Venetian Resort Las Vegas being provided for through these efforts. And in Macao, a hybrid solar photovoltaic thermal system converts sunlight into electricity for use throughout our properties in China.
While we make significant progress toward minimizing energy use at our resorts, we also focus on protecting the planet as a whole. As part of our concerted approach, we developed the Drop by Drop Project with partner Clean the World, a unique initiative that invests in proactive, community-based water initiatives around the world. Launched in 2020 and having just announced the second group of grant recipients, the Drop by Drop Project supports efforts to reinvigorate ecosystems, leverage existing technology, increase resiliency, and engage local communities in the pursuit of clean water projects.
Tweet me: Through #SandsECO360, @LasVegasSands global #sustainability program, the company seeks to minimize environmental impact and promote sustainability practices in its business regions throughout the world. https://bit.ly/2VRmklU
KEYWORDS: Las Vegas Sands, ECO360, sustainability, NYSE:LVS, 2020 Environmental, Social and Governance Report, esg