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Sands Releases Its 2023 Environmental, Social and Governance Report
LAS VEGAS, NV / ACCESSWIRE / August 5, 2024 / Las Vegas Sands Published by Las Vegas Sands on J...
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[{"type":"text","content":"Sands Releases Its 2023 Environmental, Social and Governance ReportLAS VEGAS, NV / ACCESSWIRE / August 5, 2024 / Las Vegas SandsPublished by Las Vegas Sands on July 9, 2024Las 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 (SM...