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Share Name Share Symbol Market Type
3M Company NYSE:MMM NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  4.45 2.19% 207.5166 208.95 204.06 204.52 3,200,485 21:50:00

3M to Invest $1 Billion to Achieve Carbon Neutrality, Reduce Water Use, Improve Water Quality

16/02/2021 1:54pm

Dow Jones News


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By Michael Dabaie

 

3M Co. said it expects to invest about $1 billion over the next 20 years to accelerate new environmental goals of achieving carbon neutrality by 2050, reducing water use by 25% at its facilities, and returning higher quality water to the environment after use in manufacturing operations.

3M said it expects to further reduce carbon emissions, aiming for a 50% reduction by 2030, an 80% reduction by 2040, and 100% carbon neutrality in its operations by 2050.

Starting this year, as part of its ongoing review of its manufacturing facilities, 3M said it will also work to ensure all operations become "best in class" for minimizing emissions that can be produced during manufacturing operations.

3M said it is committed to reducing water use at its worldwide manufacturing facilities over the next decade. The company said it is taking immediate steps to drive reductions in water use in the coming months and over the longer-term aims for a 10% reduction in water use by 2022, a 20% reduction by 2025 and a 25% reduction by 2030.

3M expects to install state-of-the-art water purification technology by the end of 2023 and be fully operational by 2024 at all of its largest water-using locations, it said. This will enable the company to return higher quality water to the environment after its use in manufacturing operations.

Through its efforts, 3M said it expects to reduce its overall water usage by 2.5 billion gallons a year.

"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," Chief Executive Mike Roman said.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

February 16, 2021 08:39 ET (13:39 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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