- Announces first scope 3 goal, a milestone for a diverse,
global company with thousands of products
- Refines scopes 1 and 2 near-term targets for 2030 in
alignment with the 1.5° C trajectory of the Paris
Agreement
ST.
PAUL, Minn., Oct. 3, 2024
/PRNewswire/ -- 3M announced today
that its near-term, science-based emissions reduction targets have
been validated by the Science Based Targets initiative (SBTi) as
being in line with the 1.5° C trajectory of the Paris Agreement.
This milestone reaffirms 3M's ongoing commitment to climate action,
decarbonization of its operations and portfolio of products and
continual innovation on behalf of customers around the
world.
"3M has a long history of reducing
its greenhouse gas emissions. The validation of our targets by SBTi
reflects years of collaboration and dedication by 3Mers working on
a detailed action plan to innovate across our portfolio to
decarbonize industry, accelerate our climate solutions and improve
our environmental footprint," said Gayle
Schueller, senior vice president and chief sustainability
officer at 3M. "We will continue to
drive innovation in our products and our processes, empowering
customers to reach their sustainability goals, and working together
to build a low-carbon economy."
The SBTi provides a framework for companies to set targets
according to climate science. SBTi offers standards, guidance, and
tools for establishing emissions reduction targets. The SBTi has
validated the following near-term targets for 3M:
- Reduce absolute scope 1 and scope 2 greenhouse-gas emissions by
52.6 percent by 2030, from a 2019 baseline.
- Reduce absolute scope 3 emissions by 42% by 2030 from a 2021
baseline.
"Not only has 3M been an early
adopter of setting targets for greenhouse gas emissions reductions,
but we have also helped evolve the science of measurement and
accounting for supply chain emissions (Scope 3), which are
particularly challenging for a diverse, global company like
3M." Schueller continued, "For years,
we have focused on demonstrating our math, path and plan and we
will continue to leverage that on behalf of our
customers."
The announcement of the 3M's first scope 3 GHG emissions target
– validated by SBTi – is a milestone in the company's journey to
account for a portfolio that spans across industries including
automotive, protective safety, energy, consumer packaged goods, and
electronics. 3M has been documenting
and reporting scope 1 and 2 inventory since 2002 and has been
developing its scope 3 emissions inventory since 2011 in line with
the GHG Protocol Corporate Value Chain (scope 3) Accounting and
Reporting Standard. For more than a decade, 3M has been collaborating with customers to
provide the data and solutions to meet their sustainability
goals.
More information about 3M's sustainability strategy, goals and
progress can be found on the company website and in the 2024 Q1
Global Impact Summary.
About 3M
3M (NYSE: MMM) believes science helps create a brighter world for
everyone. By unlocking the power of people, ideas and science to
reimagine what's possible, our global team uniquely addresses the
opportunities and challenges of our customers, communities, and
planet. Learn how we're working to improve lives and make what's
next at 3M.com/news.
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SOURCE 3M Company
