Logitech Reports Carbon Reduction Progress in FY24 Impact Report

Rhea-AI Summary

Logitech International (NASDAQ: LOGI) has released its FY24 Impact Report, highlighting significant progress in carbon reduction and sustainability efforts. The company has reduced its Scope 1 and 2 emissions by 58% since 2019 and Scope 3 emissions by 24% compared to 2021. Through its Designing for Sustainability (DfS) initiative, Logitech achieved a reduction of nearly 139,000 tons CO2e across its portfolio and operations in 2023.

Key achievements include:

• 75% of products now use recycled plastics
• 66% of products are carbon labeled
• 66 product lines use low-carbon aluminum
• 94% of electricity comes from renewable sources

Logitech has also made strides in equity and inclusion, achieving gender parity in its leadership team and 40% female representation on its Board of Directors.

Positive

• Reduced Scope 1 and 2 emissions by 58% since 2019
• Decreased Scope 3 emissions by 24% compared to 2021
• Achieved a reduction of 139,000 tons CO2e across portfolio and operations in 2023
• 75% of products now use recycled plastics
• 66% of products are carbon labeled
• 94% of electricity comes from renewable sources
• Achieved gender parity in leadership team with 50:50 male-to-female ratio
• 40% female representation on Board of Directors

Negative

• None.

Company releases FY24 Impact Report detailing environmental and social achievements

LAUSANNE, Switzerland & SAN JOSE, Calif.--(BUSINESS WIRE)-- Logitech International (SIX: LOGN) (Nasdaq: LOGI) published its annual Fiscal Year 2024 Impact Report detailing the Company’s progress toward its sustainability ambition. The Company reports continued product carbon reduction progress at scale by Designing for Sustainability (DfS) across its portfolio. In 2023, modifications at the product level amounted to a reduction of nearly 139,000 tons CO₂e across the Company’s portfolio and operations, equivalent to circling the Earth approximately 13,000 times¹ in an average gasoline-powered car.

“Logitech continues its impactful and pioneering sustainability efforts,“ said Hanneke Faber, Logitech CEO. “In our quest to achieve our ambitious near-term target of reducing Scope 3 emissions by 50% by 2030, we have now reduced our carbon footprint (Scope 1 and 2) by 58% since 2019 and our value chain (Scope 3) emissions by 24% compared to 2021. Designing for Sustainability and using renewable energy sources will be our pathway to further lowering our footprint.”

Designing for Sustainability

Logitech leverages the power of design to spur innovation and scale progress. Environmental and social impacts are conscientiously factored into every design decision from the moment raw materials are sourced right through to the end-of-life of a product. The Company intentionally incorporates product carbon footprint reduction into its design criteria across its portfolio. The FY24 Impact Report features several products that have achieved carbon reductions by implementing DfS, including Wave Keys wireless keyboard with a 37% carbon footprint reduction compared to the 1st generation and Casa Pop-Up Desk with a 34% carbon footprint reduction compared to a ‘do nothing’ scenario. By enhancing and scaling its design for sustainability competencies, the Company has reduced its carbon footprint and achieved the following:

• 3 in 4 products use Next Life Plastics (recycled plastic), eliminating more than 25,000 tCO₂e in 2023. A total of 75,000 tCO₂e and over 30,000 tons of virgin plastic have been avoided since the program began in 2020.
• Transparency: 66% of Logitech products are now carbon labeled, up from 42% in 2022. The Company is on target to carbon label all its products by the end of 2025.
• 66 product lines use low-carbon aluminum, produced with renewable energy, eliminating more than 13,000 tCO₂e in 2023.
• 19% of products use FSC™-certified paper packaging, and the majority (73%) of new product introductions have moved to FSC™-certified packaging.
• Across the globe, 94% of the Company’s electricity footprint comes from direct and indirect renewable electricity purchases.

An Advocate for Equity & Inclusion

Logitech has successfully achieved gender parity at the top of the Company. Its leadership team has a 50:50 male-to-female ratio and is led by a female CEO. Its Board of Directors posts 40% female representation.

The Company continues to elevate programs and products that promote equity and inclusivity in communities throughout the world. In addition to working towards narrowing the gender gap in the tech industry at large, it is focused on creating safe and inclusive digitally accessible environments and partnering with organizations like Girls Who Code, AbleGamers, GLAAD, Team4Tech, and The Royal College of Art in London. Its continued work with Pensole Lewis College (PLC), a historically Black college, furthers design creativity and advances STEAM educational programs in BIPOC communities.

Additionally, the Company’s Supplier Diversity Pledge encourages Black, Women, and Minority-owned partnerships and it has expanded outreach to diverse suppliers. It also maintained its Gender Fair certification for the 3rd year since co-founding the Coalition for Gender Fair Procurement in 2021.

Logitech’s FY24 Impact Report was developed with reference to the Global Reporting Initiative (GRI) standards, and in alignment with the United Nations Global Compact (UNGC) and UN Sustainable Development Goals (SDGs).

More information on these and other sustainability accomplishments can be found in the FY24 full report. Learn more about Logitech’s sustainability initiatives and commitments on the website at Logitech.com/sustainability.

About Logitech

Logitech designs software-enabled hardware solutions that help businesses thrive and bring people together when working, creating, gaming and streaming. As the point of connection between people and the digital world, our mission is to extend human potential in work and play, in a way that is good for people and the planet. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech and its other brands, including Logitech G, at www.logitech.com or company blog.

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1According to https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator#results 138,797 tCO2e equates to 322,034,875 miles driven by an average gasoline power passenger vehicle. According to https://www.space.com/17638-how-big-is-earth.html, the equatorial circumference of Earth is 24,901 miles.

(LOGIIR)

View source version on businesswire.com: https://www.businesswire.com/news/home/20240722888537/en/

Editorial Contacts:

Marie Perriard, Head of Sustainability Communications - USA mperriard@logitech.com

Nicole Kenyon, Head of Global Corporate & Employee Communications - USA (510) 988-8553

Ben Starkie, Corporate Communications - Europe +41 (0) 79-292-3499

Source: Logitech International

FAQ

What progress has Logitech (LOGI) made in carbon reduction according to its FY24 Impact Report?

Logitech has reduced its Scope 1 and 2 emissions by 58% since 2019 and Scope 3 emissions by 24% compared to 2021. In 2023, the company achieved a reduction of nearly 139,000 tons CO2e across its portfolio and operations through its Designing for Sustainability initiative.

How many Logitech (LOGI) products use recycled plastics as of FY24?

According to Logitech's FY24 Impact Report, 3 in 4 products (75%) now use Next Life Plastics, which are recycled plastics. This initiative has eliminated more than 25,000 tCO2e in 2023.

What percentage of Logitech's (LOGI) electricity comes from renewable sources in FY24?

Logitech's FY24 Impact Report states that 94% of the company's electricity footprint comes from direct and indirect renewable electricity purchases.

What is Logitech's (LOGI) progress on carbon labeling its products as of FY24?

Logitech reports that 66% of its products are now carbon labeled, up from 42% in 2022. The company aims to carbon label all its products by the end of 2025.