Western Digital’s Ambitious Carbon Reduction Goals Approved by the Science Based Targets initiative

Rhea-AI Summary

Western Digital (NASDAQ: WDC) has announced its commitment to reduce operational emissions by 42% by 2030, aligning with the Paris Climate Agreement. The Science Based Targets initiative (SBTi) has approved these goals, which include a 50% reduction in product emissions intensity. Key actions include increasing energy efficiency, adopting on-site solar, and procuring renewable energy. As of mid-2021, facilities in Northern California run on 100% renewable energy. The company aims to play a significant role in combating climate change while enhancing its operational sustainability.

Positive

• Committed to reducing Scope 1 and 2 emissions by 42% by 2030.
• Approved by Science Based Targets initiative, aligning with the Paris Agreement.
• Aims to reduce emissions intensity of products by 50% by 2030.
• Achieved 100% renewable energy in Northern California facilities.
• Reduced energy intensity of products by 25% from FY 2019 to 2020.
• Reduced Scope 1 and 2 emissions by more than 8% from FY 2019 to 2020.

Negative

• None.

With a Focus on Reducing Operational Emissions by 42 Percent by 2030, Western Digital’s Goals Will Put It on a Trajectory to Meet or Exceed the Guidance in the Paris Climate Agreement

SAN JOSE, Calif.--(BUSINESS WIRE)-- Western Digital (NASDAQ: WDC) announced today that the Science Based Targets initiative (SBTi), has approved its greenhouse gas emissions reduction goals, which are in line with the Paris Agreement and SBTi criteria and requirements. Science-based targets are emissions reduction goals in line with what the latest climate science says is needed to prevent the worst impacts of climate change.

“Committing to these aggressive science-based targets is the right thing to do for the planet, society, our customers and employees. The next few years are critical, and companies have a vital role to play in helping achieve transformation at the pace and scale that is needed,” said Joshua Parker, senior director, Corporate Sustainability, Western Digital. “We are already making rapid progress in reducing our emissions, demonstrating our commitment to building a sustainable economy.”

A partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature, the SBTi helps companies establish science-based targets to reduce greenhouse gas emissions and transform business operations to fit the future low-carbon economy.

SBTi offers organizations two different ambition levels in its pursuit to reduce greenhouse emissions: the Standard Commitment to limit global warming to well below 2°C above pre-industrial levels and a more demanding 1.5°C trajectory commitment, consistent with the conclusions in the Paris Climate Agreement.

Western Digital has committed to the more aggressive 1.5°C path.

"We congratulate Western Digital on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement," said Alberto Carrillo Pineda, Managing Director, Science Based Targets at CDP, one of the Science Based Targets initiative partners. "By setting ambitious science-based targets grounded in climate science, Western Digital is taking action to prevent the most damaging effects of climate change."

Under its new targets, Western Digital commits to reduce its Scope 1 and 2 emissions by 42% by 2030, from a 2020 base year. The company is also adopting a Scope 3 target to reduce the emissions intensity of its products by 50% by 2030.

To achieve these goals, Western Digital will focus primarily on energy reductions through increased operational efficiencies, adoption of on-site solar, and direct procurement of renewable energy. The company is making progress in several areas:

• As of mid-2021, Western Digital’s facilities in Northern California run on 100% renewable energy.
• Western Digital purchased 100% renewable energy for its Shenzhen office and is exploring options at other sites throughout the world.
• Western Digital has implemented on-site solar at multiple facilities around the world.
• From fiscal year 2019 to 2020, Western Digital reduced the energy intensity of its products by 25%.
• From fiscal year 2019 to 2020, Western Digital reduced Scope 1 and 2 emissions by more than 8%.

To learn more about Western Digital’s sustainability activities, please visit the Western Digital sustainability website.

About Western Digital

Western Digital creates environments for data to thrive. As a leader in data infrastructure, the company is driving the innovation needed to help customers capture, preserve, access and transform an ever-increasing diversity of data. Everywhere data lives, from advanced data centers to mobile sensors to personal devices, our industry-leading solutions deliver the possibilities of data. Western Digital data-centric solutions are comprised of the Western Digital^®, G-Technology™, SanDisk^® and WD^® brands.

Forward-Looking Statements

This news release contains certain forward-looking statements, including the company’s Scope 1, 2 and 3 greenhouse gas emission reduction goals. There are a number of risks and uncertainties that may cause these forward-looking statements to be inaccurate including, among others: future responses to and effects of the COVID-19 pandemic; volatility in global economic conditions; impact of business and market conditions; impact of competitive products and pricing; our development and introduction of products based on new technologies and expansion into new data storage markets; risks associated with cost saving initiatives, restructurings, acquisitions, divestitures, mergers, joint ventures and our strategic relationships; difficulties or delays in manufacturing or other supply chain disruptions; hiring and retention of key employees; our substantial level of debt and other financial obligations; changes to our relationships with key customers; disruptions in operations from cyberattacks or other system security risks; actions by competitors; risks associated with compliance with changing legal and regulatory requirements and the outcome of legal proceedings; and other risks and uncertainties listed in the company’s filings with the Securities and Exchange Commission, including the company’s most recently filed periodic report, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210909005019/en/

Lisa Neitzel

+1-408-717-7607

lisa.neitzel@wdc.com

T. Peter Andrew

Western Digital Investor Relations

1-800-695-6399

investor@wdc.com

Source: Western Digital

FAQ

What are Western Digital's emission reduction targets?

Western Digital aims to reduce Scope 1 and 2 emissions by 42% by 2030 and product emissions intensity by 50%.

What organization approved Western Digital's sustainability goals?

The Science Based Targets initiative (SBTi) approved Western Digital's greenhouse gas emissions reduction goals.

What is the significance of Western Digital's commitment to the Paris Agreement?

Western Digital's commitment binds it to ambitious targets for reducing emissions, contributing to global efforts against climate change.

How does Western Digital plan to achieve its sustainability goals?

The plan includes increasing operational efficiencies, onsite solar adoption, and direct procurement of renewable energy.

What progress has Western Digital made in sustainability as of mid-2021?

As of mid-2021, Western Digital's Northern California facilities operate on 100% renewable energy.