3M joins Water Resilience Coalition, CEO Water Mandate

Rhea-AI Summary

On August 16, 2021, 3M (NYSE: MMM) announced its membership in the Water Resilience Coalition (WRC), aiming to address global water scarcity affecting nearly two billion people. CEO Mike Roman stated that 3M will leverage its scientific expertise to promote sustainable water supply solutions. By joining the WRC leadership committee and endorsing the CEO Water Mandate, 3M will enhance its initiatives in water management. The company plans to invest $1 billion over 20 years for environmental improvements, including advanced water purification technologies.

Positive

• 3M is committed to addressing water scarcity issues through its membership in the Water Resilience Coalition, enhancing its corporate responsibility profile.
• Planned investment of $1 billion over 20 years in environmental goals, including state-of-the-art water purification technology, demonstrating long-term commitment to sustainability.
• Achieved a 39.8% reduction in total water consumption from 2005 to 2020, indicating effective implementation of water conservation strategies.

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• None.

ST. PAUL, Minn., Aug. 16, 2021 /PRNewswire/ -- 3M (NYSE: MMM) announced it is joining the Water Resilience Coalition (WRC) today, taking one more step forward in the company's ongoing commitment to help the nearly two billion people worldwide living in water-stressed and water-scarce communities.

"3M is proactively applying our science and innovation to improve the water supply used in our operations and the communities we serve," said Mike Roman, 3M CEO. "We are committed to sharing our expertise on global water solutions, and our participation in the WRC will expand and amplify our efforts."

By joining the WRC leadership committee and endorsing the United Nations Global Compact's CEO Water Mandate, 3M will be working to preserve the world's freshwater resources and achieve a net positive water impact. It will also be better positioned to advance its ongoing work to improve the environment and build a brighter future around the world.

"3M's expertise in science and creative solutions finds a significant space of opportunity in the CEO Water Mandate," said Jason Morrison, President of the Pacific Institute and Head of the CEO Water Mandate. "Additionally, by being a part of the leadership committee of the Water Resilience Coalition they also join a leading platform on water for businesses that are elevating their ambition and accelerating results through collective action on water."

3M's thoughtful approach to science and innovation has driven success for more than 100 years, and it will apply this same methodology to its collaborative work with fellow members.

Supporting communities with water challenges

In 2020, 3M's annual evaluation identified 16 facilities in extremely high water-stressed/scarce global locations, including locations in France, India, Mexico, Spain, Thailand, Turkey, and the United States. After the assessment, work began to understand current baselines and onboarding for those new sites, continuing into the first half of 2021. For example, the company began working with the Juarez (Mexico) City Water Department in 2016 to receive treated wastewater for on-site services. In 2017, 80% of total water consumed in three out of five buildings was treated or recycled water and in 2020, the site transitioned the remaining two buildings. It expects to save 10 million liters (2.6 million gallons) of water.

Since 2015, 3M has had a goal to engage 100% of water-stressed/scarce communities where it manufactures on community-wide approaches to water management. Each 3M site located in a water-stressed area is required to understand its water use, and associated business risks and impacts, and must work with local water resources to understand potential impacts on the surrounding area. Those sites are also asked to do water conservation planning, outlining current and future water conservation efforts.

Reducing water use in manufacturing operations

3M is also taking steps to reduce water use and improve water quality through installation of technologies at key manufacturing sites worldwide. For example, 3M Decatur in Alabama has installed a non-contact cooling water system that connects the plant's incoming water infrastructure to local utilities. This reduces the amount of water the plant uses from the Tennessee River by more than 95% and deepens the facility's connection with the community where its people live and work.

The work in Decatur will advance 3M's February 2021 commitment to reduce its water use 25% by 2030, with interim goals of 20% by 2025 and 10% by 2022—accelerating a prior goal to achieve a 10% reduction by 2025 (indexed to sales). To help identify solutions and potential barriers for water reduction, 3M employees can record and track observations within a global pollution prevention system that is accessible by engineers, developers, and managers. This broad visibility provides a deeper understanding of water use and facilitates collaboration on solutions from across the company.

As a result of ongoing water reduction efforts, 3M's total consumption decreased 39.8% between 2005 and 2020 (indexed to sales). 

Improving the quality of water returned to the environment

3M plans to invest $1 billion over the next 20 years to achieve its environmental goals, including a commitment to install state-of-the-art water purification technology at its largest water-using facilities by the end of 2023 and be fully operational by the end of 2024. These funds build on 3M's allocation of approximately $55 million for capital projects for environmental purposes in 2020, which include waste reduction and pollution control programs, such as water usage reduction and water quality improvement equipment, scrubbers, containment structures, solvent recovery units, and thermal oxidizers.

Beyond investing in remediation, installation of appropriate treatment technologies, and testing water sources, 3M is committed to applying our scientific and innovative approach to advancing technologies in this field. The company will continue to collaborate with communities who have questions about the quality of their water and work to determine whether 3M is able to provide solutions.

For more information on 3M's efforts to improve the environment, visit 3M.com/sustainability.

About Water Resilience Coalition
The Water Resilience Coalition brings together some of the biggest companies in the world to help preserve the world's freshwater resources. Led by the CEO Water Mandate, an initiative of the UN Global Compact, Coalition members commit to having a positive impact in water stressed basins, to develop and implement resilient practices across their industry, and to provide leadership and advocacy in the field of water resilience. Water Resilience Coalition (ceowatermandate.org/resilience)

About United Nations Global Compact
As a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption. Our ambition is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the Sustainable Development Goals through accountable companies and ecosystems that enable change. With more than 12,000 companies and 3,000 non-business signatories based in over 160 countries, and 69 Local Networks, the UN Global Compact is the world's largest corporate sustainability initiative — one Global Compact uniting business for a better world.

For more information, follow @globalcompact on social media and visit our website at unglobalcompact.org.

About 3M
At 3M (NYSE: MMM), we apply science in collaborative ways to improve lives daily as our employees connect with customers all around the world. Learn more about 3M's creative solutions to global challenges at www.3M.com or on Twitter @3M or @3MNews.

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SOURCE 3M

FAQ

What is the significance of 3M joining the Water Resilience Coalition?

3M's membership in the Water Resilience Coalition highlights its commitment to addressing global water scarcity and improving water management practices.

How much is 3M planning to invest in environmental initiatives?

3M plans to invest $1 billion over the next 20 years to achieve its environmental goals, including water purification technologies.

What reductions in water consumption has 3M achieved?

3M has achieved a 39.8% reduction in total water consumption from 2005 to 2020, indicating effective water conservation efforts.

Who is the CEO of 3M?

The CEO of 3M is Mike Roman.