Energy Efficiency, GHG Emissions, Industrial, Solar  -  July 8, 2024

Watts Water Sets New Emissions Reduction Target

Watts Water established an absolute carbon emissions reduction target, a change from the company's previous approach of targeting reduced emissions intensity. By 2034, the Watts' goal is to reduce absolute carbon emissions by 30% over the next 10 years.

The manufacturer and provider of plumbing, heating, and water quality products and solutions also committed to begin reporting on Scope 3 emissions in 2026.

As reported in its latest Sustainability Report, in 2023, the company decreased energy use and emissions by deploying an air leak detection program, on-site solar, LEDs and other facility upgrades. 

The company reported completion of its five-year plan well ahead of previously set targets, including reducing its Scope 1 and 2 market-based emissions intensity by 60% in 2023 — far surpassing its goal of 15% as compared to 2018.

Watts installed solar at four of its manufacturing facilities generating approximately 700,000 kWh of electricity, and supported and accelerated utility-level decarbonization by purchasing approximately 7,200 metric tons of CO2 equivalent (MTCO2e) certified wind renewable energy certificates (RECs). RECs represent 47% of the company's market-based emissions globally, as its Americas region has the largest share of its global Scope 2 emissions.

“For the past 150 years, our mission has been driven by the belief that safeguarding water isn’t just a business endeavor, it’s an obligation,” said Robert J. Pagano, Jr., CEO, President, and Chairperson of the Board, in a statement. “In 2023, we continued to integrate sustainability at every level of our business, and we’re proud of the advancements we’ve made throughout our supply chain and operations, in our approach to product strategy and design, and through engagement with our employees and communities.”

In 2023, Watts gained further insights into its own supply chain's sustainability performance by engaging its top 100 suppliers by spend to join the EcoVadis platform. Of these suppliers, approximately 70% have completed and shared the EcoVadis scorecard. The company participated in EcoVadis global ESG rating assessment for the first time in late 2023 as a global organization.

Watts completed a reporting gap assessment, aligned with requirements and recommendations from the Corporate Sustainability Reporting Directive (CSRD), the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the International Sustainability Standards Board (ISSB) to inform its global ESG reporting strategy and priority actions. In late 2023, the company also kicked off a double material assessment under CSRD requirements to determine the material ESG topics that will be reported in accordance with the European Sustainability Reporting Standards (ESRS).

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