- Micron Technology, Inc. (NASDAQ: MU) announced it is committing to net-zero emissions from operations by 2050. These are the details.
Micron Technology, Inc. (Nasdaq: MU) has announced new targets to reduce greenhouse gas emissions as part of the company’s overall sustainability strategy outlined in its annual sustainability report. And the new commitments put Micron on a path to achieve net-zero emissions from its global operations (known as scope 1) and purchased energy use (known as scope 2) by 2050. These actions reinforce Micron’s meaningful steps to address the increasing threat of climate change.
Along with these new long-term commitments, Micron has also set new shorter-term and time-bound targets. And by 2030, Micron aims to reduce scope 1 greenhouse gas emissions across its own operations by 42% against its 2020 baseline. Through this combination of shorter-term targets and long-term commitments, Micron seeks to align its goals to the objective of international agreements on climate change to limit global warming to no more than 1.5 degrees C.
Plus the company also focuses on procuring renewable energy globally to support its net-zero objective and continues to target 100% renewable energy in the U.S. by the end of 2025. And Micron recently announced progress toward these goals, achieving 100% renewable energy in Malaysia and partnering with Idaho Power to advance solar-powered renewable energy in Idaho.
Micron takes a multifaceted approach toward meeting its net-zero operational commitments. And this includes investing in advanced abatement systems, prioritizing the use of gases with lower global warming potential, sourcing energy-efficient equipment, and purchasing renewable instead of fossil fuel-generated energy.
Micron plans to spend $1 billion by 2028 to meet its environmental targets, which also include 75% water conservation and 95% waste diversion globally in 2030. Last year, Micron announced the closing of a $1 billion green bond in which net proceeds from the issuance will be allocated to eligible projects that the company believes can drive its sustainability priorities, including renewable energy, green buildings, energy efficiency, water management, pollution control and a circular economy in line with the company’s Green Bond Framework.
KEY QUOTE:
“We know the well-being of our communities and team members, as well as the strength of our business, depends on the actions and investments we make to address our environmental footprint. That’s why sustainability is embedded across the entire spectrum of Micron’s business, from our operations and manufacturing sites across 17 countries, to our finance strategy, product development, and supply chain management. As a technology leader, we established these new greenhouse reduction targets to reinforce our commitments and further advance our environmental strategy.”
– Manish Bhatia, executive vice president of Global Operations at Micron
