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Sands Releases Its 2022 Environmental, Social and Governance Report
LAS VEGAS, NV / ACCESSWIRE / August 8, 2023 / Las Vegas Sands: Published by Las Vegas Sands on...
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[{"type":"text","content":"Sands Releases Its 2022 Environmental, Social and Governance ReportLAS VEGAS, NV / ACCESSWIRE / August 8, 2023 / Las Vegas Sands:Published by Las Vegas Sands on April 4, 2023Las Vegas Sands (NYSE:LVS) has released its latest environmental, social and governance (ESG) report outlining the company's 2022 progress on the corporate responsibility ambitions and priorities established for its 2021-2025 reporting period.Targeted for achievement by 2025, Sands' performance on its ambitions in the People, Communities and Planet pillars of its corporate responsibility program through 2022 included:People - Aiming toward its 2025 target to invest $200 million in workforce development initiatives to advance Team Members and local talent in the hospitality industry, Sands invested $56 million in 2022 and $113 million since 2021. Funding has supported core initiatives such as the Sands Academy Team Member training and development program and the Sands China F.I.T. (financial support, invitational matching, and training and development) program for small and medium enterprises, as well as other regional workforce development initiatives.Communities - In 2022, Sands exceeded its 2025 goal of contributing 150,000 Team Member volunteer hours to support local communities with 192,330 volunteer hours provided to date. Extensive Team Member volunteer support for pandemic-related initiatives in Macao, such as community testing and vaccinations, propelled accomplishment of this ambition in just two years. Sands plans to set a new 2025 target this year, which will be presented in the 2023 ESG Report.Planet - Greenhouse gas emissions remained significantly below the 2018 baseline for Sands' 2025 emissions reduction goal of 17.5%, achieving a 50% reduction in 2022. While the pandemic continued to impact property visitation, the company has pursued a number of emissions reduction projects to ensure it remains on track to meet the target in 2025 as business is expected to rebound, increasing energy consumption. In 2022, Sands properties installed controls to reduce energy use while guests are away in 3,300 hotel rooms and are replacing hard-to-convert incandescent and fluorescent lighting to LED solutions. The company purchased 151,000 megawatt hours of renewable energy certificates and generated 235 megawatt hours from solar plants. Sands properties also ...