Micron Technology, Inc. (Nasdaq: MU) today announced new targets to reduce greenhouse gas emissions as part of the company’s overall sustainability strategy outlined in its annual sustainability report. 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 how Micron is taking meaningful steps to address the increasing threat of climate change.
In addition to these new long-term commitments, Micron has also set new shorter-term, time-bound targets. 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.
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. 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.
“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,” said Manish Bhatia, executive vice president of Global Operations at Micron. “As a technology leader, we established these new greenhouse reduction targets to reinforce our commitments and further advance our environmental strategy.”
Micron takes a multifaceted approach toward meeting its net-zero operational commitments. This includes investing in advanced abatement systems, prioritizing 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. In 2021, Micron announced the closing of a $1 billion green bond in which net proceeds from 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.
Micron will continue to be transparent about its progress towards these goals with regular updates to stakeholders in its annual sustainability report and other outlets.