3M announced a series of new and updated climate-related goals, including a new target to reduce absolute Scope 3 greenhouse gas (GHG) emissions by 42% by 2030, on a 2021 basis.

The company also announced that its near-term emissions reduction goals have been validated by the Science Based Targets initiative (SBTi) as being in line with the 1.5° C trajectory of the Paris Agreement.

Gayle Schueller, Senior Vice President and Chief Sustainability Officer at 3M, said:

“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. 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 new targets follow the announcement by 3M in 2021 of commitments to achieve carbon neutrality in its operations by 2050, and interim goals to reduce Scope 1 and 2 emissions by at least 50% by 2030 and 80% by 2040, on a 2019 basis. In its Q1 2024 Global Impact Summary Report, 3M revealed that it has already achieved a 48.6% reduction in Scope 1 and 2 emissions. The company’s SBTi-approved updated near-term goal targets a 52.6% Scope 1 and 2 reduction by 2030.

Scope 3 emissions include indirect emissions across a company’s upstream and downstream value chain, including those originating in its supply chain, and from the use of its products. In the company’s 2024 Global Impact Report, 3M noted that a “methodology does not exist to calculate full scope 3 emissions for a company as complex as 3M,” which has more than 55,000 products across industries including automotive, protective safety, energy, consumer packaged goods, and electronics. 3M said that it 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, including participating in the pilot of the standard.

Schueller said:

“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. For years, we have focused on demonstrating our math, path and plan and we will continue to leverage that on behalf of our customers.”