L3Harris Recognized as a Top ESG Leader in the Aerospace and Defense Industry
L3Harris Technologies announced one of its critical environmental, social, and governance (ESG) ratings for 2022, putting it in the top five per cent of aerospace and defence companies worldwide.
Sustainalytics' latest rating for L3Harris puts its ESG efforts ahead of almost all of its industry peers. This is the third year in a row that L3Harris has improved and made progress toward its 2026 sustainability goals. Sustainalytics, a leading independent ESG rating firm, uses a framework of more than 70 management indicators to determine its ratings.
"Our ESG journey is built on and kept on track by committed corporate governance," said Christopher E. Kubasik, Chair and CEO of L3Harris. “The new additions to our board of directors over the past year bring expanded leadership and diversity, which are crucial for our success and continued progress.”
L3Harris committed in 2019 to reducing greenhouse gas emissions by 30%, reducing water use by 20%, and increasing waste diversion by 75% by 2026.
L3Harris has met or surpassed its critical environmental goals so far this year. For example, it has cut greenhouse gas emissions by 63,000 metric tonnes, cut water use by 15 million gallons, increased waste diversion by 783 tonnes, and used a virtual power purchase agreement to make 195,000 megawatts of solar energy capacity.
“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 we put money into solar energy, give grants for social impact, or host a virtual conference on diversity, equity, and inclusion, our everyday actions show that we care in real ways."
L3Harris began using Sustainalytics in 2020 as a marker for continuous ESG improvement. Its ESG risk rating score for 2022 is 20% better than its score for 2021, and it has improved by nearly 40% since 2020.