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3M pledges big emissions cuts by 2030, including in its supply chain

Brooks Johnson, The Minnesota Star Tribune on

Published in Business News

By the end of the decade, 3M says it will stop emitting millions of tons of greenhouse gases, including those outside the company’s control.

For the first time, the Minnesota-based manufacturer has set a target to reduce what are called Scope 3 emissions, which are those greenhouse gases produced by its supply chain and include the transportation of goods. These emissions account for 75% of the company’s overall greenhouse gas impact.

The company intends to reduce Scope 3 emissions by 41% from a 2021 baseline, a goal verified by the nonprofit Science Based Targets initiative (SBTi) as adequate in the short term to help keep global warming below 1.5 degrees Celsius.

“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,” Gayle Schueller, chief sustainability officer at 3M, said in a statement this week.

Like many companies, 3M intends to be carbon-neutral in its operations by 2050. Also like many companies, 3M has had an easier time reducing its in-house emissions through renewable energy, while supply-chain emissions remain stickier.

Just over a quarter of the 9,700 companies working with SBTi have set a Scope 3 target, and many do not report Scope 3 emissions.

“We’re pleased to see 3M setting these targets,” said Danielle Fugere, president of shareholder advocacy group As You Sow, which endorses SBTi validation. “They appear to be doing this in a way that’s transparent, not confusing or misleading.”

 

3M is already well on its way to meeting its Scope 1 and 2 goals, which include electricity usage and other on-site emissions at offices and factories. Since 2019 these emissions have dropped 48%. The company’s goal is a 52.6% decrease by 2030 and an 80% decrease by 2040.

The supply-chain emissions target followed more than a decade of developing a reporting standard, according to 3M.

“Scope 3 is important because it reflects emissions associated with all the people who supply your paper, your chemicals, your transportation,” Fugere said. “It puts suppliers on notice that 3M is cutting emissions, so suppliers will have to as well — and that will benefit other large companies looking to achieve emissions reductions.”

3M ranks highly among fellow industrial conglomerates in environmental, social and governance rankings by MSCI. But before the latest emissions pledge the company was “misaligned with global climate goals,” according to the market research firm.

Last year the maker of Post-it Notes, safety gear and Scotch tape emitted 2.9 million tons of carbon dioxide-equivalent gases and counted 9 million tons of Scope 3 emissions in its supply chain.

The data excludes the impact of 3M’s health care operations, which were spun off into a new company, Solventum, this spring.


©2024 The Minnesota Star Tribune. Visit at startribune.com. Distributed by Tribune Content Agency, LLC.

 

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