We are at a historic crossroads in the #CleanEnergy momentum

Last week, I joined my fellow industry leading experts Jaime Muguiro, President of CEMEX USA, and Gretchen Watkins, President of Shell USA, at Global Clean Energy Action Forum / Clean Energy Ministerial, moderated by Marty Durbin, President of Global Energy Institute in Pittsburgh. We discussed #industrial #decarbonization opportunities – investment, infrastructure, and innovation – and I truly enjoyed it.

We are at a historic crossroads in the #CleanEnergy momentum.

Honeywell strongly supports provisions in the Inflation Reduction Act of 2022 that will help lower greenhouse gas emissions and reduce the impact of climate change. The company has a decades-long history of innovation to help its customers meet their environmental and social goals, and the Inflation Reduction Act of 2022 will allow Honeywell to further advance the effectiveness of these efforts.

Honeywell operates its own facilities and factories around the globe, where our goal is to get to carbon neutral in our facilities and operations by 2035. We have had an approximately 90% reduction in Scope 1 and Scope 2 greenhouse gas intensity since 2004. But what I feel proudest of is that we have geared ourselves to bring in battle-tested expertise to help our customers across the globe. In serving our customers across different industries – Energy, Oil & Gas, Steel & Cement, Pulp & Paper, Life Sciences, and Gigafactory – we don’t just deliver, but we act as a cross pollinator by bringing innovation that matters. Innovation that has a purpose. Hence, approximately 60% of 2021 sales were comprised of solutions that contribute to ESG-oriented outcomes. In addition, approximately 60% of R&D spend in 2021 was directed toward ESG-oriented outcomes.?

I personally believe anything that cannot be measured cannot be improved, and hence, with my #FutureShapers team at Honeywell, I am committed to helping our customers across different industries measure emissions. This can help pinpoint the exact source and scale of emissions, empowering teams to act on it swiftly and with accuracy. These Honeywell solutions help our customers take action from insights gained from emissions monitoring and emissions management. Our virtual power plant capability (VPP) unlocks additional value from battery energy storage systems and enables our customers to add additional revenue streams through participation in open electricity markets.?

What the clean energy market needs today is a lot of innovation to drastically decrease the cost of operations, whether it is hydrogen, sustainable aviation fuel, or battery energy storage. I think all these multiple moves help create that right climate, both financially as well as from the thought leadership point of view, to pull much-needed innovators into this market.

Taking the lead on this, Honeywell leverages its 116-year history in the market and acts as the glue that connects startups and small companies that have relevant cutting-edge technologies to large industrial customers, bringing meaning to the relationship and making it successful. We understand both sides of the world and make it purposeful with know-how and deep expertise. We have invested in some startups around green hydrogen and other technologies to accelerate the introduction of those technologies into the market.

Our goal is to create a collaborative and inclusive ecosystem to build and bring purpose-driven technologies for industries to transition quickly to these cleaner energies. And I look forward to continuing this conversation to build the future we want. Join my team @Phoenix next week at Honeywell Tech Symposium, where we will explore and experience many of these innovative solutions at work.