Progress on the company's 2021-2025 ambitions in emissions
reduction, workforce development and community service
contributions highlight the reporting cycle's midpoint
review.
LAS
VEGAS, July 9, 2024 /PRNewswire/ -- Las Vegas
Sands (NYSE: LVS) has released its latest environmental,
social and governance (ESG) report, outlining the company's 2023
progress on the corporate responsibility priorities established for
its 2021-2025 reporting period. Sands is on track to meet or has
surpassed the targets set for its three primary ambitions in the
areas of emissions reduction, workforce development and community
volunteerism.
Aiming toward its 2025 ambition of reducing emissions by 17.5%,
the company logged a 50% emissions reduction from a 2018 baseline
in 2023. Sands has now spent $181
million toward its ambition to invest $200 million in workforce development by 2025 and
logged 222,823 hours toward its 2025 community volunteerism
ambition, which was originally established at 150,000 hours. In the
2023 ESG Report, the company announced a new community service
target to contribute 250,000 volunteer hours by 2025.
Along with solid ESG progress, last year marked a number of
major milestones for Sands, including Sands China's relicensing in
Macao; celebrating the official
grand opening of The Londoner Macao, a $2
billion redesign of the former Sands Cotai Central
integrated resort; and completing the majority of the $1 billion phase one renovation at Marina Bay
Sands. In addition, the company received Leadership in Energy and
Environmental Design (LEED) Gold Certification for its new
Las Vegas corporate headquarters,
which opened in 2023.
Amid these endeavors, Sands made significant progress in
multiple areas under the People, Communities and Planet pillars of
its corporate responsibility program in 2023.
People – Aiming to invest $200
million in workforce development by 2025, Sands spent
$68 million to advance Team Members
and local talent in the hospitality industry in 2023, for a total
of $181 million invested since 2021.
Funding has supported Team Member training and development programs
and local workforce and hospitality industry initiatives, such as
the $1 million Sands Hospitality
Scholarship Program in Singapore.
Separate of the workforce development investment, Sands spent
$2 billion in 2023 to procure goods
and services from local businesses and small and medium enterprises
(SMEs) around the world, contributing to its regions' economic
health and helping sustain job opportunities.
In support of the company's commitment to investing in local
businesses and SMEs, Sands China launched the Sands Innovation
Challenge and Sands Resorts Incubation Centre, which cultivate
technology innovation among Macao
entrepreneurs. Sands also held procurement academies for local
businesses on Long Island where the company aims to build its next
world-class integrated resort.
Communities – In 2023, the company updated its original
2025 ambition to contribute 150,000 Team Member volunteer hours to
community organizations after surpassing that target at the end of
2022 due to intensive support for pandemic-related initiatives
along with core Sands Cares volunteer programs. Aiming toward its
new 2025 goal of contributing 250,000 Team Member volunteer hours
to communities, Sands reported 222,823 cumulative volunteer hours
from 2021-2023. The company is well on its way to meeting the
ambition, which supports its overarching commitment to ensuring
host communities remain great places to live, work and visit.
Sands' Communities pillar priorities include helping alleviate
hardship for disadvantaged populations and people experiencing
crises; investing in capacity-building programs for local
nonprofits; supporting initiatives to advance its regions' unique
arts and cultural offerings; and working to build a thriving
workforce of the future through education. In 2023, three global
Sands Cares programs continued to unite the company's regions
around community impact, with execution of the 10th
Sands Cares Global Hygiene Kit Build and the second Sands Cares
Global Food Kit Build, as well as completion of the Sands Cares
Accelerator's seventh year of incubating the strategic initiatives
of invited nonprofit members in Las
Vegas, Macao and
Singapore.
Planet – Though business returned to pre-pandemic levels
in 2023, greenhouse gas emissions remained significantly below the
2018 baseline with a 50% reduction logged in 2023. Resort
visitation grew by 123% in 2023 compared to 2022, and, therefore,
energy consumption increased in multiple areas, including fuel use
for heating and cooking as well as operation of the Cotai Jet ferry
service in Macao. However, Sands
achieved the significant reduction in emissions thanks to its
persistent approach to energy efficiency projects and commitment to
renewable energy certificate purchases.
In addition to continuing to surpass emissions as well as water
use reduction targets in 2023, the company pursued aggressive
efforts to reduce food waste and transition plastics and packaging
to sustainable materials. Beyond execution on core environmental
priorities in the areas of low-carbon transition, waste, materials
and resources, and water stewardship, the Sands ECO360 team
remained focused on developing a coordinated strategy for
protecting biodiversity, which has been addressed as part of the
company's water stewardship and sustainable sourcing
initiatives.
"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."
Underscoring Sands' performance in 2023, the company was named
one of Fortune's World's Most Admired Companies in the news
outlet's 2024 list of the most respected and reputable global
businesses. That designation followed recognition on Newsweek's
2024 America's Most Responsible Companies list and the 2023 Dow
Jones Sustainability World and North America Indices.
For detailed information on Sands' accomplishments under the
People, Communities and Planet pillars, read the 2023 ESG Report:
https://www.sands.com/content/uploads/2024/06/LVS-ESG-Report-2023.pdf
About Sands (NYSE: LVS)
Sands is the world's
preeminent developer and operator of world-class integrated
resorts. The company's iconic properties drive valuable leisure and
business tourism and deliver significant economic benefits,
sustained job creation, financial opportunities for local
businesses and community investment to help make its host regions
ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay
Sands in Singapore
and The Venetian Macao, The Plaza Macao, The
Londoner Macao, The Parisian Macao and Sands
Macao in Macao SAR,
China, through majority ownership
in Sands China Ltd.
Dedicated to being a leader in corporate responsibility, Sands
is anchored by the core tenets of serving people, communities and
the planet. The company's ESG leadership has led to inclusion on
the Dow Jones Sustainability Indices for World and North America, as well as Fortune's list of
the World's Most Admired Companies. To learn more,
visit www.sands.com.
Contacts:
Kristin
Koca
Sands
702.923.9142
Kristin.Koca@sands.com
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SOURCE Las Vegas Sands Corp.
