Wednesday 17 February 2021

Tech firm 3M to invest $1bn to become carbon neutral by 2050

Tech firm 3M to invest $1bn to become carbon neutral by 2050

Technology company 3M, which manufactures industrial, safety and consumer products, has made a commitment to invest around $1 billion (£0.7bn) over the next 20 years to achieve carbon neutrality by 2050.

By applying science and technological expertise, 3M expects to reduce carbon emissions by 50% by 2030 and 80% by 2040, working collaboratively with customers, governments and global partners.

Its new environmental goals also include reducing water use by 25% at its facilities and returning higher quality water to the environment after use in manufacturing operations during the same period.

The company expects to install water purification technology by the end of 2023 and be fully operational by 2024 at all of its largest water using locations.

3M's new carbon neutrality commitment builds upon its pledge to renewable power as a member of the RE100 initiative, which brings together hundreds of large and ambitious businesses committed to 100% renewable electricity.

Its global headquarters in Minnesota is now completely powered by renewable energy sources and is advancing its goal of reducing waste globally by eliminating single-use plastics and converting more facilities to zero landfill status.

Its ongoing efforts in sustainability and environmental stewardship include the creation of the Pollution Prevention Pays programme that has prevented more than two million tons of pollution.

3M Chairman and CEO Mike Roman said: “As we grow 3M, we will lead in environmental stewardship, social equity and justice and corporate governance.

“We are taking action now to bend the curve on carbon emissions and water use and improve water quality. Our investments will make us more effective and efficient and drive growth. Today's announcements demonstrate again how 3M applies science to improve lives to help shape the world through cleaner air, better water quality and less waste.”

Written by

Bruna Pinhoni

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