Equinix Sets 2030 Global Climate-Neutral Target

Rhea-AI Summary

Equinix (Nasdaq: EQIX) has committed to achieving climate neutrality by 2030, setting a science-based target for emissions reduction across its global operations and supply chain. This initiative is aligned with the Paris Climate Agreement and aims to reduce Scope 1 and 2 emissions by 50% from a 2019 baseline. The company plans to reach 100% renewable energy usage by 2030 and engage suppliers to set their science-based targets. Equinix has issued $3.7 billion in green bonds for sustainable projects and aims for 100% climate neutrality across emissions by 2030.

Positive

• Commitment to climate neutrality by 2030.
• Aiming for a 50% reduction in Scope 1 and 2 emissions by 2030.
• Plans to achieve 100% renewable energy by 2030.
• Issued $3.7 billion in green bonds for sustainable projects.
• Engagement with suppliers to reduce their emissions.

Negative

• No significant negative aspects identified.

REDWOOD CITY, Calif., June 16, 2021 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company™, announced today that it is committed to becoming climate-neutral and has set a science-based target (SBT) for emissions reduction across its global operations and supply chain by 2030. Aligned with the Paris Climate Agreement, this commitment is a critical step to ensure that Equinix continues to advance investments and innovations to reduce greenhouse gas emissions and keep global warming to 1.5 degrees Celsius.

The expected impact of these sustainability efforts on the broader digital ecosystem is sizable, and Equinix's many and diverse customers are expected to benefit from the greening of their digital supply chains. Equinix plans to remain committed to engaging these stakeholders to drive transparency and impact.

The targets are supported by Equinix's leadership and strategies across renewable energy, green finance, public policy advocacy, and leading design and operations. Equinix's approved emissions reduction target by the Science Based Target initiative (SBTi) builds on the company's strong track record on sustainable growth and innovation, including achieving over 90% renewable energy coverage for its data centers from 2018 to 2020. 

To date, Equinix has issued $3.7 billion in green bonds toward environmentally sustainable projects across green buildings, renewable energy, energy and water efficiency, waste and clean transportation. Equinix is a founding member of the EU Climate Neutral Data Centre Operator Pact, as well as a founding board member of the Renewable Energy Buyers Alliance (REBA). The company is committed to designing and operating with an environmental focus, and in 2020 invested $14 million to stand up a global Energy Efficiency Center of Excellence dedicated to driving improved efficiencies across its sites.

As part of its science-based target, Equinix is aiming to reduce its Scope 1 and 2 emissions (direct and indirect from electricity) by 50% by 2030 against a 2019 baseline. To achieve this goal, Equinix is targeting to reach 100% renewable energy by 2030, fulfilling its commitment to RE100. Additional carbon emission reductions will be achieved through driving energy efficiency savings, reducing refrigerant loss, phasing out high global warming potential (GWP) refrigerants and investigating the replacement of diesel generators with cleaner on-site generation technologies.

Equinix is also committing to partnering with top suppliers by engaging with those responsible for 66% of Equinix's Purchased Goods and Services and Capital Goods supplier-related emissions, to set their own science-based targets by 2025. The company will also address fuel- and energy-related activities (FERA) with the aim to reduce the carbon associated with the delivery of power to its sites by 50% by 2030.

Beyond achieving its science-based targets, Equinix aims to reach climate-neutrality by 2030 across its Scope 1 and 2 emissions. The company plans to take advantage of select carbon offsets and investigate new innovations, such as biodiesel, green hydrogen and other lower carbon on-site generation technologies.

Highlights/Key Facts

• In line with SBTi requirements, Equinix is aiming to make a 50% absolute reduction in Scope 1 and 2 emissions from a 2019 base year by 2030.
• Equinix will reach 100% renewable electricity by 2030 and achieve its RE100 goal which was set in 2015.
• Equinix will require that 66% of its suppliers by emissions—within the categories of Purchased Goods and Services and Capital Goods—will have science-based targets by FY2025, and Equinix will achieve a 50% absolute reduction in Scope 3 emissions from fuel and energy-related activities by 2030.
• The company is also targeting 100% climate-neutrality across Scope 1 and 2 emissions by 2030.

Quotes

Hriday Ravindranath, Global CTIO, BT

"BT has been leading on climate action for almost three decades and we've pledged to be a net-zero emissions business by 2045. We were one of the first companies in the world to adopt science-based targets and we're now using 100% renewable electricity worldwide. We're delighted to see our partner Equinix, with whom we deliver cloud solutions to multinational customers, announce their own ambitious targets. Working together, we will achieve more."

Page Motes, Head of Global Sustainability, Dell Technologies

"It takes collective action to make a global impact on climate change, and Equinix's next step is an important one. Setting science-based targets and reducing emissions across an organization's entire footprint are critical to measurable progress and align with our own climate strategy."

Jennifer Cooke, Research Director, IDC

"Equinix is leading by example to help create a more sustainable datacenter ecosystem. As illustrated by setting a science-based target, the company continues to make significant investments and progress in running highly efficient facilities and in buying renewable energy to reduce its impact on the environment, while demonstrating its commitment to transparency in reporting around its operational footprint."

Michael Winterson, Chairman, EUDCA

"Data centres are essential infrastructure of not only the digital economy but of the entire global economy. We as an industry have a duty to ensure we are constantly finding new sustainable solutions to how we source and utilise energy, water, heat and refrigerants.  Equinix's commitment to sustainable innovation in how they will achieve these Science Based Targets will accelerate the industry's goals of offering climate-neutral services to customers by 2030."

Heidi Huusko, Senior Manager, United Nations Global Compact (UNGC), one of the Science Based Targets initiative partners

"We congratulate Equinix on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement. By setting ambitious science-based targets grounded in climate science, Equinix is taking action to prevent the most damaging effects of climate change."

Raouf Abdel, EVP Global Operations, Equinix

"Digital infrastructure is the backbone of today's economy and allows people to work and connect from anywhere and everywhere. We share the urgency of governments, the industry, and our customers that innovation and action are essential to ensure data centers are more sustainable and reduce carbon emissions quickly to address the impacts of global climate change. Our recent Global Tech Trends survey illustrated this with an increase in demand for greater transparency in IT infrastructure.  We have seen this with the over 100% increase in requests for our Green Power Reports (GPRs), which empower customers to track progress against their own sustainability goals and reporting efforts."

Additional Resources

• Interactive Sustainability Report (ISR) [website]
• IDC Equinix's Sustainability Progress [analyst report]

About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage. With Equinix, they can scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, a failure to achieve Equinix's targets and commitments related to climate and sustainability, and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.

 

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SOURCE Equinix, Inc.

FAQ

What is Equinix's climate target for 2030?

Equinix aims to achieve climate neutrality by 2030, reducing its Scope 1 and 2 emissions by 50% from a 2019 baseline.

When did Equinix announce its commitment to climate neutrality?

Equinix announced its commitment to climate neutrality on June 16, 2021.

What is the scope of Equinix's emissions reduction targets?

Equinix's targets include a 50% reduction in Scope 1 and 2 emissions and engaging suppliers to set their own science-based targets.

How much has Equinix invested in green projects?

Equinix has issued $3.7 billion in green bonds toward environmentally sustainable projects.

What renewable energy goal has Equinix set for 2030?

Equinix aims to reach 100% renewable energy usage by 2030.