Illumina Commits to Net Zero Global Greenhouse Gas Emissions by 2050

Rhea-AI Summary

Illumina (NASDAQ: ILMN) has announced its commitment to achieving net-zero greenhouse gas emissions by 2050, aligning with the Paris Agreement. The company has set science-based targets for emission reductions of 46% from direct and indirect operations by 2030. This initiative signifies a shift from prior climate goals based on a 2°C warming scenario to more rigorous 1.5°C guidelines. Additionally, Illumina has pledged $20 million by 2030 towards sustainability initiatives. These moves underscore the company's dedication to corporate social responsibility and the integration of sustainability into its business strategy.

Positive

• Commitment to net-zero emissions by 2050.
• Targets include a 46% reduction in emissions from direct and indirect operations by 2030.
• $20 million philanthropic commitment to sustainability initiatives by 2030.

Negative

• None.

SAN DIEGO, Sept. 9, 2021 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) elevates climate action goals with commitments for net zero greenhouse gas emissions aligned with the Paris Agreement, commits to verified Science Based Targets, signs the Business Ambition for 1.5 degree and joins the United Nations campaign Race to Zero.

"Human health and the health of our environment are intertwined. At Illumina, we are dedicated to making a positive impact on humanity, through the applications of our breakthrough genomics technologies, and also through how we operate," said Francis deSouza, Chief Executive Officer of Illumina. "With our commitment to responsible and sustainable practices, we aim to help shape a more sustainable and equitable future for all."

Illumina has set science-based emission reduction targets across their entire value chain that are consistent with keeping global warming to 1.5°C above pre-industrial levels. They have also committed to a long-term target of net-zero emissions by 2050. Targets have been submitted for verification with the Science Based Targets initiative (SBTi) and include commitment to SBTi's most ambitious guidelines.

Illumina has signed the "Business Ambition for 1.5°C,"  a global coalition set up by the UN Global Compact, the Science Based Targets initiative, and We Mean Business Ambition for 1.5°C. Illumina also joins the United Nations "Race to Zero" campaign in the run-up to the 26^th UN Climate Change Conference of the Parties (COP26) and underlines Illumina's commitment to leadership in corporate social responsibility. These elevated climate action goals represent an upgrade from previous targets Illumina had modeled using 2°C climate scenarios and an associated 30 percent emission reduction effort. In line with the latest research, Illumina has now adjusted their carbon emission reduction targets to the most aggressive climate action goals.

On the path to net zero, Illumina has established milestone targets including a 46 percent reduction of emissions from our direct operations by 2030 and a 46 percent reduction of emissions from our indirect operations with a focus on the value chain elements associated with purchased materials, transportation, investments, business travel, and employee commuting.

Included in Illumina's Climate Action plan is a $20 million philanthropic commitment by 2030 to support initiatives dedicated to sustainability innovation, environmental education, urban tree planting, biodiversity research, sustainable agriculture projects. 

"We have integrated our sustainability goals into our giving strategy acknowledging that often the most vulnerable populations in the world are being impacted the most by climate change despite having contributed the least to the climate crisis," said Sharon Vidal, Global Lead of Corporate Social Responsibility. "There is tremendous opportunity for innovation, collaboration, and community engagement to collectively make an impact and protect our communities and the planet."

"Climate change represents a threat to human health, the environment, and the global economy," said Sam Samad, Chief Financial Officer at Illumina. "Setting ambitious emission reduction targets are an important part of our overall business strategy to minimize risk associated with climate change, identify opportunities, build resilience on potential climate impact, and be transparent with all our stakeholders on our progress."

The company's net zero progress will be reported yearly in the annual Corporate Social Responsibility Report  and CDP submission.

About Illumina

Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as the global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture and other emerging segments. To learn more, visit www.illumina.com and connect with us on Twitter, Facebook, LinkedIn, Instagram, and YouTube.

Investors:
Brian Blanchett
+1.858.291.6421
ir@illumina.com

Media:
Dr. Karen Birmingham
+1.646.355.2111
+44(0) 7500 105665
kbirmingham@illumina.com

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SOURCE Illumina, Inc.

FAQ

What is Illumina's commitment regarding climate action?

Illumina has committed to achieving net-zero greenhouse gas emissions by 2050.

What are Illumina's emission reduction targets?

Illumina aims for a 46% reduction in emissions from both direct and indirect operations by 2030.

How much is Illumina investing in sustainability initiatives?

Illumina has pledged $20 million by 2030 for sustainability-related projects.

What previous targets did Illumina shift from?

Illumina adjusted its targets from a 2°C climate scenario to a more aggressive 1.5°C guideline.

How will Illumina report its climate action progress?

Illumina will report progress annually through its Corporate Social Responsibility Report.