News | December 8, 2023
Las Vegas Sands Named to Newsweek’s America’s Most Responsible Companies 2024
Sands has again been recognized by Newsweek as one of America’s Most Responsible Companies for 2024. The company ranked 259th out of 600 total companies on the list, the highest among integrated resort companies, and fifth among the 19 companies included in the Hotels, Dining & Leisure category.
“We deeply value this recognition as endorsement for our most recent accomplishments and ongoing work, which is indicative of our longstanding commitment to being a responsible company,” said Ron Reese, senior vice president of global communications and corporate affairs, who spearheads corporate responsibility initiatives for the company. “Our initiatives are centered around ensuring a people-centered culture with advancement opportunities for all, investing in and collaborating with our host regions to keep them strong, and continuing to advance environmental initiatives that drive ongoing progress in sustainability.”
Newsweek’s America’s Most Responsible Companies 2024 ranking focuses on a holistic view of corporate social responsibility that considers three pillars: environment, social and corporate governance. The media outlet’s partner for the ranking reviewed the top 2,000 public companies by revenue and based its analysis on two metrics: quantitative data from more than 30 key performance indicators for those three pillars and each company’s CSR reputation from an extensive survey of 17,000 U.S. residents that asked respondents to select companies familiar to them and evaluate their CSR performance generally and in ESG areas.
Sands’ environmental score of 87.47 out of 100 on America’s Most Responsible Companies 2024 was the company’s highest rating, demonstrating its leadership in environmental responsibility. Led by the Sands ECO360 global sustainability program, Sands’ environmental priorities are to address low-carbon transition, water stewardship, waste, plastic and packaging, responsible sourcing and biodiversity.
The company’s primary ambition under the Planet pillar of its corporate responsibility platform is to achieve a 17.5% reduction in carbon emissions by 2025. As of 2022, Sands had achieved a 50% reduction in carbon emissions from its 2018 baseline; however, the cumulative decrease reflected continued pandemic-related impact on property visitation. As business returns to more normal levels in 2023, Sands is continuing to aggressively pursue its low-carbon transition initiatives in the areas of energy efficiency, renewable energy and transportation, and will update on its progress in the 2023 ESG report scheduled for release in spring 2024.
The company also scored above 80 in the social category on Newsweek’s America’s Most Responsible Companies 2024 listing, reflecting its commitment to supporting people and making its local communities great places to live, work and visit. The global Sands Cares community engagement program leads Sands’ Community pillar and drives efforts to address hardship relief; promote educational opportunities, especially for underserved groups; advance local business and nonprofit partners; provide disaster relief and preparedness support; and preserve and protect the cultural heritage of the company’s host regions.
Under its Communities pillar, Sands set a target to contribute 150,000 Team Member volunteer hours by 2025 to accelerate impact in local regions. By the end of 2022, however, the company had surpassed this goal because of extensive Team Member support for pandemic-related initiatives in its communities, along with core Sands Cares volunteer efforts. While the new 2025 target will be announced in 2024, Sands Team Members continue to contribute thousands of hours to local nonprofits and community issues.
Under its People pillar, Sands aims to build the workforce of the future, through its priority on professional growth and advancement for Team Members as well as the local labor pool. The company also is dedicated to helping local businesses, especially small and medium enterprises, succeed. Other core People pillar priorities include advancing diversity, equity and inclusion; ensuring health, safety and well-being; and protecting fundamental human rights and freedoms for its Team Members, suppliers, partners and guests. Finally, responsible gaming and business practices are a cornerstone of the company’s efforts to safeguard its people.
Sands’ target ambition under the People pillar is to invest $200 million in workforce development by 2025. As of the end of 2022, Sands had invested $56 million in workforce development initiatives, bringing the company’s cumulative investment to $113 million since 2021, well past the halfway point. Sands will next update on its progress in the 2023 ESG Report published next spring.
To learn more about Sands’ ESG initiatives, read its latest ESG report here: https://www.sands.com/2022-environmental-social-and-governance-report/