Flex Commits to Cutting Operational Emissions in Half by 2030; Joins the Science Based Targets initiative
Chennai: Flex (NASDAQ: FLEX) today announced its commitment to cut operational emissions in half by 2030 as part of the company’s new long-term sustainability strategy. In partnership with suppliers and customers, Flex has set bold environmental goals to combat climate change. Aligning scope 1, 2 and 3 emissions reduction targets, the company has joined the Science Based Targets initiative (SBTi), the global movement of leading companies working to reach the Paris Agreement’s goal of limiting global temperature rise to 1.5°C above preindustrial levels. Flex conducted an exhaustive data analysis of each of the 15 categories of scope 3 emissions as part of its acceptance into the SBTi.
“Environmentally sustainable practices are more critical than ever before to combating the realities of climate change, driving supply chain resiliency and realizing greater advanced manufacturing efficiencies on the factory floor,” said Francois Barbier, president, Global Operations. “Joining the SBTi furthers our commitment to mitigate climate change through consistent and concerted action across the value chain. Throughout my tenure at Flex, I’ve never been more excited about the future of sustainable manufacturing.”
Building on more than 10 years of investment in emissions reduction and resource-efficient manufacturing processes, Flex is setting ambitious commitments, which include:
Reduce absolute scope 1 and 2 greenhouse gas emissions 50% by 2030 from a 2019 base year
Require 50% of its preferred suppliers to set greenhouse gas emissions reduction targets by 2025, and 100% by 2030
Commit to partner with 70% of customers by emissions covering purchased goods and services, capital goods and use of sold products to set science-based targets by 2025
Achieve zero waste in 50% of its manufacturing & logistics sites by 2025
Reduce water withdrawn by 5%, focusing on sites located in water scarce areas, by 2025
“We’re proud to partner with our suppliers and customers in our continued sustainability journey and collectively help address a growing global issue through meaningful action,” continued Mr. Barbier. “As we live our purpose of making great products for customers that create value and improve people’s lives, we are committed to doing so in a responsible way that contributes to a healthier, less resource intensive future for all.”
To learn more about Flex’s commitment to sustainability, please visit www.flex.com/sustainability.