Wednesday, July 10, 2024
Las Vegas Sands has unveiled its latest environmental, social, and governance (ESG) report, detailing the company’s substantial progress in 2023 towards the corporate responsibility priorities set for the 2021-2025 reporting period. The report indicates that Sands is on track to meet or exceed its goals in emissions reduction, workforce development, and community volunteerism.
Emissions Reduction
Sands aimed for a 17.5% reduction in emissions by 2025, but has already achieved a remarkable 50% reduction from a 2018 baseline as of 2023. This significant achievement underscores the company’s commitment to environmental sustainability.
Workforce Development
In pursuit of its goal to invest $200 million in workforce development by 2025, Sands has allocated $181 million to date. In 2023 alone, $68 million was invested to enhance the skills and career opportunities of Team Members and local talent within the hospitality industry. This funding supports various training and development programs, including the $1 million Sands Hospitality Scholarship Program in Singapore.
Community Volunteerism
Originally targeting 150,000 volunteer hours by 2025, Sands surpassed this milestone by the end of 2022. Consequently, a new target was set at 250,000 volunteer hours by 2025. By the end of 2023, Sands had accumulated 222,823 volunteer hours, demonstrating strong progress towards this ambitious goal.
Major Milestones
2023 was a pivotal year for Sands, marked by several significant achievements. Notably, Sands China received relicensing in Macao and celebrated the grand opening of The Londoner Macao, a $2 billion renovation project. Additionally, Sands completed the majority of the $1 billion first phase of renovations at Marina Bay Sands. The company’s new Las Vegas corporate headquarters, which opened in 2023, received the LEED Gold Certification, highlighting its commitment to sustainable building practices.
People
Beyond workforce development investments, Sands spent $2 billion in 2023 on procuring goods and services from local businesses and SMEs worldwide, contributing to economic health and job sustainability. Sands China also launched initiatives like the Sands Innovation Challenge and the Sands Resorts Incubation Centre to foster technological innovation among Macao entrepreneurs. Additionally, procurement academies were held for local businesses on Long Island, where Sands plans to develop a new integrated resort.
Communities
Sands’ commitment to community support includes alleviating hardship for disadvantaged populations, investing in capacity-building programs for local nonprofits, and advancing regional arts and cultural offerings. In 2023, Sands executed global programs such as the 10th Sands Cares Global Hygiene Kit Build and the second Sands Cares Global Food Kit Build. The Sands Cares Accelerator also completed its seventh year, supporting strategic initiatives of nonprofit members in Las Vegas, Macao, and Singapore.
Planet
Despite a return to pre-pandemic business levels and a 123% increase in resort visitation compared to 2022, Sands maintained a 50% reduction in greenhouse gas emissions from the 2018 baseline. This was achieved through energy efficiency projects and renewable energy certificate purchases. Sands also continued efforts to reduce water usage, food waste, and transition to sustainable materials in plastics and packaging. The Sands ECO360 team focused on developing strategies for biodiversity protection, integrated with the company’s water stewardship and sustainable sourcing initiatives.
Overall, the 2023 ESG Report reflects Sands’ ongoing dedication to its corporate responsibility pillars: People, Communities, and Planet. The company’s significant achievements in these areas demonstrate a strong commitment to sustainability and positive social impact.
“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.”
Highlighting its impressive performance in 2023, Sands earned a spot on Fortune’s 2024 list of the World’s Most Admired Companies, showcasing its reputation and respect in the global business community. This accolade was accompanied by recognition on Newsweek’s 2024 list of America’s Most Responsible Companies and inclusion in the 2023 Dow Jones Sustainability World and North America Indices.
Tags: America Travel News, community volunteerism, Emissions Reduction, las vegas, Travel Destination News, Travel News, Workforce Development
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Tags: America Travel News, community volunteerism, Emissions Reduction, las vegas, Travel Destination News, Travel News, Workforce Development
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