Honeywell Maoshu Liu: Sustainable technology is the "golden key" to the future

Shanghai, China, April 21, 2022 -- April 22, 2022 marks the 53rd Earth Day. This year's Earth Day, with the theme of "Invest In Our Planet", calls on companies to develop strong environmental, social and governance (ESG) standards to promote the transition to a green economy, and to join all parties in tackling the current climate crisis and protecting our planet.

On the occasion of Earth Day 2022, Maoshu Liu, Vice President and General Manager of Honeywell Performance Materials and Technologies Asia Pacific, shared his views on the theme of this year's Earth Day. Liu Maoshu said that responding to climate change and protecting the earth's environment are the focus of today's society, and the application of sustainable technologies will accelerate the transformation of the green economy, promote the transformation of the energy system, and promote the fundamental transformation of social production and consumption patterns. For enterprises, actively practicing ESG concepts and promoting the innovation and application of sustainable technologies is the only way to the future, and it is also a "golden key" to balance green development and long-term growth.

Anchor the "dual carbon" goal and actively practice the concept of ESG

China's goal of peaking carbon emissions before 2030 and achieving carbon neutrality before 2060 is not only a grand blueprint under the long-term plan for high-quality economic development, but also a great commitment to the global vision of carbon reduction. As a new starting point for the sustainable transformation of enterprises in various fields in the new era, ESG has been endowed with richer connotations in the context of China's "carbon peak" and "carbon neutrality".

Liu Maoshu said that integrating ESG into the process of production and management can help enterprises organize and implement transformation strategies in a planned manner, promote the research and development and application of new technologies, and enable enterprises to focus on longer-term economic and social benefits. The "dual carbon" goal is becoming the main driving force for enterprises to practice ESG concepts, which will form a two-way virtuous circle with the sustainable development ability of enterprises.

In the case of Honeywell, the company has a long history of improving its own environmental and sustainability performance, setting ambitious sustainability goals and exceeding them several times over the years, and actively helping the company and its customers achieve sustainability goals through technological innovation. In April 2021, Honeywell announced its commitment to achieve carbon neutrality across all business operations and facilities by 2035. To this end, Honeywell is continuing its commitment to sustainability through a package of initiatives that further increase investment in energy efficiency projects, adopt renewable energy, complete capital improvement projects for business facilities and corporate vehicles, and utilize carbon credits.

In April 2022, Honeywell reaffirmed its commitment to set emissions reduction targets that include other indirect greenhouse gas emissions (Scope 3) from the value chain, guided by the Science Based Targets initiative (SBTi). Previously, Honeywell had pledged to achieve carbon neutrality for both direct emissions (Scope 1) and indirect energy emissions (Scope 2) by 2035.

Honeywell is putting these goals into practice. In the future, Honeywell will continue to drive carbon reduction through a rigorous, end-to-end business operation system. At the same time, Honeywell's emission reductions will be publicly reported and verified by a third party as required by the Greenhouse Gas Protocol (GHG) protocol.

Sustainable development and long-term growth go hand in hand

As a leading high-tech company, Honeywell has a history of more than 100 years in sustainability, energy conservation and emission reduction. Since 2004, Honeywell has reduced the greenhouse gas intensity of its operations and facilities by more than 90 percent and improved energy efficiency by more than 70 percent. In addition, Honeywell has implemented more than 6,100 sustainability projects since 2010, saving an average of $105 million annually.

In fact, sustainability as an important part of the top-level design of the strategy has proven to be a practical and effective approach at Honeywell. Approximately 60% of Honeywell's new product development is focused on improving the environmental performance and social performance of its customers, and the company leverages its expertise and strengths in the field of sustainability to not only improve its internal sustainable operations, but also to further enhance the products and services we provide to our customers. In 2021, more than 60% of Honeywell's revenue came from businesses that helped solve global ESG challenges.

Honeywell is increasingly using its corporate operations as a testing ground for technological innovation. As we reduce greenhouse gas emissions from our operations and facilities, Honeywell uses our products and technologies wherever possible, testing and improving them through our own applications. At the same time, Honeywell provides a diverse range of sustainable products, technologies and solutions around the world, forming a virtuous circle of enterprise development and social progress.

For example, digital technologies and solutions such as Honeywell's Intelligent Manufacturing Management Execution System (MES) and Honeywell Excellence System (HES) are currently used not only within Honeywell, but also by many of our partners and customers – and the company has extended these technologies and innovative practices to the industry and society, actively helping Chinese enterprises transform and upgrade. At the same time, the fact that there are more use cases on the client side also gives us more feedback on the technical side, which in turn promotes us to launch a new generation of solutions, and this positive cycle allows us to find more solutions.

Liu Maoshu also said that the company's commitment to sustainable development and reducing its own carbon emissions is also an important part of practicing corporate social responsibility and values. The continuous reduction of carbon emissions and the continuous improvement of energy efficiency in the company's operations can make employees realize that their work has a positive impact on social development and environmental protection, thereby greatly enhancing team cohesion and sense of mission, and promoting the long-term development of the company.

Honeywell's sustainable technologies help our customers deliver environmental performance and social benefits

The "dual carbon" goal not only brings challenges to reducing emissions to industries with high energy consumption, especially large carbon dioxide emissions, such as petrochemicals, aviation, construction, traditional equipment manufacturing, etc., but also nurtures development potential for technological innovation and application. In China, Honeywell adheres to the strategy of "East for East", and continuously develops products and technologies that meet the energy and environmental needs of customers, serves the long-term goal of China's high-quality development, and shapes a sustainable future with Chinese partners.

Taking Honeywell Performance Materials and Technologies as an example, we are promoting the development and implementation of low-carbon solutions in the Chinese market with Honeywell's innovative products and technologies as the engine in the fields of new energy, renewable resources and material recycling, technologies to improve hydrocarbon conversion efficiency and reduce energy consumption, carbon capture, utilization and storage, non-CO2 greenhouse gas emission reduction technologies and green hydrogen applications.

For example, Honeywell's breakthrough hydrofluoroolefin (HFO) technology helps customers reduce their carbon footprint and improve energy efficiency without sacrificing end-product performance, and Solstice's® range of low-GWP refrigerants, blowing agents, propellants and solvents are used worldwide and have helped reduce more than 260 million tons of carbon dioxide equivalent to today, equivalent to the potential emissions of more than 56 million vehicles throughout the year.

In April, Honeywell announced that Sinopharm Shanghai Biopharma Co., Ltd., a subsidiary of China's Sinopharm Group, had adopted Honeywell's low-GWP, energy-efficient refrigerant Solstice® N40 (R-448A), in its vaccine cold storage expansion project in Shanghai to store a variety of vaccines for use in the Shanghai area, including COVID-19 vaccines. This technology effectively reduces carbon emissions in the process of vaccine storage and distribution, and helps China achieve its goals of "carbon peak" and "carbon neutrality".

Also recently was the recent partnership between Honeywell and Donghua Energy Co., Ltd. to build a 1 million tons per year sustainable aviation fuel (SAF) production base. In this project, Donghua Energy introduced Honeywell UOP's Ecofining™ process technology, which is the first technology to be used in a major producer of commercial aviation SAF, helping to create a precedent for sustainable aviation fuel production. When completed, the project will be one of the world's largest production bases for sustainable aviation fuel (SAF) based on food waste oil and animal fat, helping to drive carbon reduction in the aviation industry.

"Honeywell offers a wide range of industrial technologies and digital solutions for the sustainable development of modern society. Creating a safer, more sustainable future for future generations is a responsibility for companies like Honeywell. "Honeywell adheres to the development concept that lucid waters and lush mountains are invaluable assets, continues to take sustainable development as its core strategy, and is committed to improving the performance of itself and its customers in terms of environmental and sustainable development, so as to contribute to China's 'dual carbon' goals and high-quality sustainable development." ”

Honeywell Maoshu Liu: Sustainable technology is the "golden key" to the future

Honeywell Maoshu Liu: Sustainable technology is the "golden key" to the future

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