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Lockheed Martin Expands Sustainability Goals

Stocks in this article: LMT

BETHESDA, Md., April 24, 2014 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) continues to meet and exceed established sustainability goals as outlined in the corporation's 2013 Sustainability Report, released today. The full report is available at 

Lockheed Martin Aeronautics' C-130J Super Hercules production line at the Marietta, Georgia facility. The C-130J incorporates state-of-the-art technology, which reduces labor requirements, lowers operating and support costs, and provides life cycle cost-savings over earlier C-130 models.

"Our customers are seeking new ways of thinking about how to address major issues like renewable energy, information security and climate change - and we're serious about using our capabilities to find solutions to these challenges," said Chairman, President and CEO Marillyn A. Hewson. "Our commitment to sustainability continues to accelerate our business strategy. We respect and support our employees, our communities and our environment because it's the right thing to do."

The 2013 Sustainability Report highlights:

  • Operational Efficiency – The company reduced costs by 23 percent by decreasing overhead, cutting capital expenses, negotiating supplier savings, redesigning program governance structures and removing a net 2.1 million square feet of facility space.
  • Resource Efficiency – Lockheed Martin achieved performance goals associated with its Go Green initiative, including a 17 percent reduction in water use; 36 percent reduction in waste sent to landfills; 18 percent reduction in carbon emissions; and 12 percent reduction in energy use since 2010.
  • Governance: In 2013, Lockheed Martin continuously enhanced efforts to uphold high standards and controls for ethical business conduct, compliance and transparency. Employees completed more than 525,000 business conduct and compliance training sessions, achieving a 100 percent completion rate.
  • Product Performance: Lockheed Martin will always innovate to deliver optimal economic and performance value over the lifecycle of its products. We began partnerships to develop waste-to-energy conversion systems and ocean thermal energy power to address key global sustainability issues, including waste disposal, energy security and climate adaptation.
  • Information Security: The company works to minimize the probability and impact of undesirable events associated with security incidents in its operations and for its customers' missions. The company helped develop cyber security tools and training to raise the preparedness level for protecting sensitive data, both within and beyond Lockheed Martin.
  • Talent Competitiveness: Lockheed Martin fosters an inclusive workplace culture that also surpassed safety performance goals, including a 73 percent decrease in missed worked days and a 59 percent decrease in serious injuries compared to levels when Lockheed Martin's Target Zero safety program began in 2003.
  • Supplier Sustainability: The company partners with active suppliers to advance responsible sourcing practices and improve transparency. By releasing a Supplier Code of Conduct, Lockheed Martin heightened awareness of the company's expectations for environmental, social and business conduct, including human rights amongst its suppliers.
  • Community / Educational Contributions – Lockheed Martin donated more than $25 million to communities worldwide including nearly 10 million, supporting science, technology, engineering and math (STEM) education programs.
  • Sustainability Honors – In 2013, Lockheed Martin was named to the prestigious Dow Jones Sustainability North America Index; named one of the top companies on the Carbon Disclosure Project's Leadership Index.

The Lockheed Martin 2013 Sustainability Report includes a letter of opinion from an external advisory panel of experts that reviewed the report. The report adheres to the Global Reporting Initiative G4 reporting guidelines. 

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