Sands has once again received recognition from Newsweek as one of America's Most Responsible Companies for 2024. The company secured the 259th position among the 600 companies listed, marking the highest rank among integrated resort companies and fifth among the 19 entities in the Hotels, Dining & Leisure category.
Ron Reese, Senior Vice President of Global Communications and Corporate Affairs, expressed gratitude for the acknowledgment, emphasizing the company's dedication to responsibility. He stated, "We deeply value this recognition as an endorsement for our recent achievements and ongoing efforts, reflecting our longstanding commitment to being a responsible company."
The ranking by Newsweek for America's Most Responsible Companies 2024 assesses corporate social responsibility through three pillars: environment, social, and corporate governance. The evaluation includes quantitative data from over 30 key performance indicators and a comprehensive survey of 17,000 U.S. residents assessing CSR performance, particularly in environmental, social, and governance (ESG) areas.
Sands attained an environmental score of 87.47 out of 100, the highest among its scores, showcasing its leadership in environmental responsibility. Focused on its Sands ECO360 global sustainability program, the company addresses key environmental priorities such as low-carbon transition, water stewardship, waste management, plastic reduction, responsible sourcing, and biodiversity.
Under the Planet pillar of its corporate responsibility platform, Sands aims for a 17.5% reduction in carbon emissions by 2025. Although achieving a 50% reduction by 2022 from its 2018 baseline, the impact of the pandemic on property visitation influenced the cumulative decrease. Sands remains committed to aggressive initiatives in energy efficiency, renewable energy, and transportation, with updates scheduled in the 2023 ESG report set for release in spring 2024.
In the social category, Sands scored above 80 in Newsweek's America's Most Responsible Companies 2024 listing, highlighting its dedication to supporting people and enhancing local communities. The Sands Cares community engagement program, driving efforts under the Community pillar, addresses hardship relief, promotes educational opportunities, supports local businesses and nonprofits, provides disaster relief, and preserves the cultural heritage of host regions.
Within its Communities pillar, Sands established a goal to contribute 150,000 volunteer hours from Team Members by 2025 to enhance the impact on local regions. By the conclusion of 2022, the company had not only achieved but exceeded this target. This success was attributed to robust Team Member support for pandemic-related initiatives in local communities and active participation in Sands Cares volunteer programs. While the specifics of the new 2025 target will be disclosed in 2024, Sands Team Members persist in dedicating numerous hours to local nonprofits and community causes.
Under the People pillar, Sands is committed to cultivating the workforce of the future, emphasizing professional growth and progression for Team Members and the local labor pool. The company is also devoted to assisting local businesses, particularly small and medium enterprises, in prospering. Key priorities within the People pillar encompass promoting diversity, equity, and inclusion, ensuring health, safety, and well-being, and safeguarding fundamental human rights and freedoms for Team Members, suppliers, partners, and guests. Responsible gaming and business practices serve as a fundamental aspect of the company's initiatives to protect its people.
Sands aspires to invest $200 million in workforce development by 2025 under the People pillar. By the close of 2022, Sands had already invested $56 million in workforce development initiatives, bringing the cumulative investment to $113 million since 2021, surpassing the halfway point. Sands will provide the next update on its progress in the 2023 ESG Report scheduled for publication next spring.
To know more about Sands’ ESG initiatives, click here .