Seagate Commits to Power Global Footprint With 100% Renewable Energy by 2030 and to Achieve Carbon Neutrality by 2040

Rhea-AI Summary

Seagate Technology Holdings plc (NASDAQ: STX) announced its commitment to achieve 100% renewable energy by 2030 and carbon neutrality by 2040, as part of its 16th Global Citizenship Annual Report. In FY2021, the company exceeded its energy conservation goal by saving approximately 23,000 MWh. Seagate also reported a 17% reduction in hazardous waste generation per exabyte and a 9% increase in water recycling. The report highlights advancements in diversity, including a rise in women in leadership positions and recognition for LGBTQ+ equity.

Positive

• 100% renewable energy pledge by 2030
• Carbon neutrality goal set for 2040
• Saved approximately 23,000 MWh in FY2021, exceeding the goal
• 17% decrease in hazardous waste generation per exabyte in FY2021
• 9% year-over-year increase in water recycling
• 4% increase in women in executive positions
• Named one of the best companies for LGBTQ+ equity with a 100% score

Negative

• None.

Company's fiscal year 2021 Global Citizenship Annual Report details its progress toward protecting the environment

FREMONT, Calif.--(BUSINESS WIRE)-- Seagate^® Technology Holdings plc (NASDAQ: STX), a world leader in mass-data storage infrastructure solutions, today pledged to power its global footprint with 100% renewable energy by 2030, and to achieve carbon neutrality by 2040. The environmental sustainability goals are being announced in conjunction with the release of the company’s 16th Global Citizenship Annual Report (GCAR). Building on our Science Based Targets, we are expanding our actions in support of Seagate’s commitment to a sustainable datasphere and protecting the environment.

“Seagate’s value of Integrity compels us to take meaningful and measurable action on climate change,” said Joan Motsinger, senior vice president, business sustainability and transformation at Seagate. “Today, we publicly share our commitments, and we are well on our way to achieving these milestones both within our operations, with electricity sources, and with our suppliers and customers.”

Seagate will reach its environmental sustainability goals through commitments spanning Scope 1, 2, and 3 greenhouse gas (GHG) emissions as defined by The Greenhouse Gas Protocol and Reporting Standard.

“Seagate, along with industry peers and global stakeholders, must address the harm caused by materials depletion, power and water overuse, and waste,” said Balan Shanmuganathan, senior director of sustainability at Seagate. “That is why we are boldly and publicly committing to specific and aggressive reductions in greenhouse gas emissions to achieve carbon neutrality.”

In addition to establishing its long-term environmental sustainability goals, the company also published its 2021 fiscal year (July 2020-June 2021) Global Citizenship Annual Report. The report offers a comprehensive look at the company’s yearly progress towards meeting emission reduction targets, product stewardship, talent enablement, diversity goals, labor standards, fair trade, supply chain, and more. Highlights of the report include:

Environmental

• Energy Conservation
  • In FY2021, we saved approximately 23,000 MWh amounting to 14,000 tCO2e of electricity through energy conservation and efficiency initiatives, exceeding our conservation goal of 10,000 MWh for the year.
• Recycling
  • Continued product circularity partnerships with Dell and Google to recycle components such as voice coil magnet assemblies and materials that use rare earth elements.
• Hazardous Waste
  • Seagate has decreased the intensity of hazardous waste generated per exabyte (EB) by 17% in FY2021, mostly through recycling, diverting 84% of waste away from landfill.
• Water Recycling
  • Water recycling increased by more than 9% year-over-year.

Social

• Women in Leadership
  • Seagate is taking steps to ensure that women have an equitable voice in leadership. Compared to FY2020, there was a 4% increase in women in the company's executive positions and a 2.9% increase in women in director positions.
• LGBTQ+
  • Seagate was named as one of the best companies for LGBTQ+ equity by the Human Rights Campaign with a score of 100% from the organization’s 2021 Corporate Equality Index for the third year in a row.

Governance

• Ethics
  • Guided by our value of Integrity, Seagate is dedicated to upholding the highest standards of ethics. For further details about the ethical and legal commitments that underpin how we tell our brand story please visit the Seagate Trust Center.
  • Established the Global Compliance and Ethics Council (GCEC) to align Seagate business functions with Seagate’s corporate Compliance and Ethics Program strategy, policies, and procedures.
    • The GCEC determined that there were no significant risks of corruption or non-compliance in FY2021 through ethics risk assessments at our seven manufacturing sites.

To learn more about Seagate’s ESG efforts, visit Seagate’s Global Citizenship page.

About Seagate Technology

Seagate Technology crafts the datasphere, helping to maximize humanity’s potential by innovating world-class, precision-engineered mass-data storage and management solutions with a focus on sustainable partnerships. A global technology leader for more than 40 years, the company has shipped over three billion terabytes of data capacity. Learn more about Seagate by visiting www.seagate.com or following us on Twitter, Facebook, LinkedIn, YouTube, and subscribing to our blog.

©2022 Seagate Technology LLC. All rights reserved. Seagate, Seagate Technology, and the Spiral logo are registered trademarks of Seagate Technology LLC in the United States and/or other countries. All other trademarks or registered trademarks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220421005003/en/

For More Information Contact:

Greg Belloni (415) 235-9092

gregory.belloni@seagate.com

Jan Jee Chong +65 6807 7173

janjee.chong@seagate.com

Source: Seagate Technology Holdings plc

FAQ

What are Seagate's renewable energy goals for 2030?

Seagate aims to achieve 100% renewable energy for its global operations by 2030.

When does Seagate plan to achieve carbon neutrality?

Seagate has set a goal to achieve carbon neutrality by 2040.

How much electricity did Seagate save in FY2021?

Seagate saved approximately 23,000 MWh of electricity in FY2021.

What was the hazardous waste reduction reported by Seagate for FY2021?

Seagate reported a 17% reduction in the intensity of hazardous waste generated per exabyte in FY2021.

How has Seagate improved gender diversity in leadership?

Seagate reported a 4% increase in women in executive positions and a 2.9% increase in director positions compared to FY2020.