ESG report: Las Vegas Sands invests $56m in 2022 to reach 2025 goal
Las Vegas Sands invested $56m in 2022 towards corporate social procedures and $113m since 2021 towards its 2025 goal.
Earlier, the operator announced spending $200m in workforce development initiatives to develop local talent and team members in the hospitality sector.
This was revealed by Sands in its environmental, social, and governance (ESG) report. The report outlines the company’s 2022 progress towards goals for corporate responsibility established for its 2021–2025 period.
The new 2025 goal will be announced in the 2023 ESG Report.
Sands donated 192,330 volunteer hours, surpassing its 2025 target of 150,000 team members supporting local communities in just two years.
In terms of the environment, greenhouse gas emissions continued to be below the 2018 baseline for Sands’ 2025 emissions reduction goal of 17.5%, reaching a 50% reduction in 2022.
Despite the pandemic’s effects, the company has taken several reduction initiatives to meet its 2025 goals.
To save energy, Sands properties installed controls in 3,300 hotel rooms in 2022. Additionally, they are switching to LED options.
In addition to producing 235MW hours from solar power plants, Sands purchased 151,000MW hours of renewable energy certificates. They also added more electric charging stations.
Katarina Tesarova, SVP and Chief Sustainability Officer, said: “We set targets that push the company to achieve tangible results and the work we have outlined toward these ambitions has put us on a solid track to reach our goals.
“Beyond these three primary ambitions, we have a full range of core priorities under our People, Communities and Planet pillars that have also produced significant impact and are summarised in the report.”
Sands’ achievement in 2022 was highlighted on the Dow Jones Sustainability Indices (DJSI) for World and North America. Sands China was also named to the DJSI World Index for the first time.
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