L3Harris Technologies announced today one of its key environmental, social and governance (ESG) ratings for 2022, which places it among the top five percent of aerospace and defense companies worldwide.
The newest rating for L3Harris, determined by Sustainalytics, ranks its ESG efforts ahead of nearly all its industry peers and marks three consecutive years of improvement and progress toward achieving its 2026 sustainability goals. Sustainalytics, a leading independent ESG rating firm, bases its ratings on a comprehensive framework of more than 70 management indicators.
“Committed corporate governance provides the foundation and maintains the course for our ESG journey,” said Christopher E. Kubasik, Chair and CEO, L3Harris. “The new additions to our board of directors over the past year bring expanded leadership and diversity crucial for our success and continued progress.”
In 2019, L3Harris committed to reduce greenhouse gas emissions by 30 percent, reduce water use by 20 percent and increase waste diversion by 75 percent by 2026. To date this year, L3Harris has met or exceeded its key environmental targets including reducing greenhouse gas emissions by 63,000 metric tons, reducing water use by 15 million gallons, increasing waste diversion by 783 tons and generating 195,000 megawatts of solar energy capacity through a virtual power purchase agreement.
“We are bound to the idea that creating sustainable value for all isn’t just important for our company, but for our world,” said Byron Green, Vice President of Global Operations, L3Harris. “Whether it’s investing in solar, providing social impact grants or hosting a virtual conference on diversity, equity and inclusion, our everyday actions demonstrate meaningful, tangible commitment.”
L3Harris began using Sustainalytics in 2020 as a marker for continuous ESG improvement. Its 2022 ESG risk rating score represents a 20 percent improvement from 2021 and nearly 40 percent improvement overall since 2020.