Honeywell Creates New Division to Address Sustainability-Focused Business Opportunities
Global tech and engineering conglomerate Honeywell has just announced that it has created a new business unit called Sustainable Technology Solutions. It is designed to offer technologies including advanced #plastics #recycling, renewable fuels, #renewableenergy storage and controls, and #carbon capture and hydrogen economy solutions.
Taking the tack that #sustainability can be a strong catalyst for product and service #innovation, the company plans to bias allocation of R&D spend for new products to #ESG-orientated solutions; with 60% going in this direction.
Honeywell expects the Sustainable #Technology Solutions #business unit to develop from $200 million in 2021 to $700 million in 2024.
Peter Drucker penned “If you want something new, you have to stop doing something old.” To do that, as Steve Jobs said, it's necessary to “Think different.”
Honeywell's #leadership has done just that.
How can you think differently?