Flex Commits to Cutting Operational Emissions in Half by 2030; Joins the Science Based Targets initiative
Flex (NASDAQ: FLEX) announced plans to halve operational emissions by 2030 as part of a sustainability strategy. The company has joined the Science Based Targets initiative (SBTi) to align reduction targets across scope 1, 2, and 3 emissions. Key commitments include reducing absolute greenhouse gas emissions by 50% from 2019 levels, requiring suppliers to set emissions targets, achieving zero waste in half of its sites by 2025, and reducing water withdrawal by 5%. This initiative reflects Flex's dedication to sustainable practices and addressing climate change.
- Commitment to reduce operational emissions by 50% by 2030.
- Joining the Science Based Targets initiative to align emissions reduction goals.
- Ambitious sustainability commitments including zero waste in 50% of manufacturing sites by 2025.
- None.
SAN JOSE, Calif., April 22, 2021 /PRNewswire/ -- 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 year1 - Require
50% of its preferred suppliers to set greenhouse gas emissions reduction targets by 2025, and100% 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 withdrawn2 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.
About Sustainability at Flex
Guided by its purpose and building on more than a decade of investment in sustainability, Flex applies an accountable, ethical approach to doing business. As the advanced manufacturing partner of choice, Flex drives disciplined practices that stand strong to help address the world's broader environmental and social challenges, cultivate a workplace that enhances experiences and opportunities for its people, and lead with integrity throughout the value chain. By 2030, Flex, in partnership with customers and suppliers, is committed to significantly lowering emissions through science-based targets, investing in its communities, advancing a safe, inclusive and respectful workplace for all and driving environmental, social and corporate governance-compliant practices with transparency. Through these commitments, Flex enables market leading brands to maintain a competitive, enduring advantage. Sustainability is in Flex's DNA. Learn more about Flex's 2030 sustainability goals.
About Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.
Contacts
Media & Press
Jessica Anderson
Sr. Manager, Corporate Communications
(408) 577-4789
Jessica.Anderson@flex.com
Investors & Analysts
David Rubin
Vice President, Investor Relations
(408) 577-4632
David.Rubin@flex.com
1 The target boundary includes biogenic emissions and removals from bioenergy feedstocks
2 Per revenue
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SOURCE Flex
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