3M Headquarters To Operate 100 On Renewable Energy
By 2050, the parent company of Top 40 supplier 3M/Promotional Markets aims to have all its facilities worldwide powered by renewable sources.
When it comes to going green, 3M is going big.
The parent company of Top 40 supplier 3M/Promotional Markets (asi/91240) announced Thursday that its St. Paul, MN headquarters will operate 100% on renewable electricity, effective tomorrow – Friday, March 1. By 2050, the global tech and manufacturing corporation aims to have all of its facilities around the world fueled entirely by renewable energy. 3M has set an interim target to source at least 50% of its electricity from renewables by 2025.
The company was winning praise from environmentalists for its emphasis on getting more eco-friendly. “Seeing such a large manufacturer commit to ‘go all in’ on renewables to produce sustainable new products is an encouraging step forward,” said Helen Clarkson, CEO of The Climate Group, a non-profit that works with business and government leaders to address climate change. “Big brands like this can influence positive action from other companies and customers and accelerate the clean energy transition around the world.”
Currently, 3M sources about 30% of its total electricity from renewable sources. Since 2002, the supplier has decreased its greenhouse gas emissions by 68%, while also doubling revenue. As further evidence of its commitment to sustainability, 3M said Thursday that it’s joining RE100, a global leadership initiative led by The Climate Group and the Carbon Disclosure Project (CDP), that brings together influential businesses committed to sourcing 100% renewable power for their worldwide operations. “We are continuing to step up our leadership toward a more sustainable future – in our own operations, and in solutions for our customers,” said 3M CEO Mike Roman.
In evolving into renewable energy at its 409-acre corporate headquarters, which is home to about 30 buildings/research labs and 12,000 employees, 3M became the largest company in Xcel Energy Inc’s service area across eight Western and Midwestern states to convert to 100% renewable electricity. Xcel will provide the majority of the power for 3M’s headquarters from wind farms located near Pipestone, MN. Additional electricity will come through wind projects that are part of Xcel’s Windsource program and solar sources.
“We applaud 3M’s leadership in making a bold commitment to 100% renewable energy. Xcel Energy is proud to partner with 3M, because we both share a drive to innovate and a commitment to reducing carbon emissions and protecting the environment,’’ said Chris Clark, president of Xcel Energy-Minnesota, North Dakota, South Dakota.
In December, 3M announced an increased commitment to build sustainability into its pipeline, which produces thousands of products and technologies. Effectively, 3M is requiring that a Sustainability Value Commitment be included in all new products introduced beginning in 2019.
With estimated North American promotional product revenue of $93 million,
3M Promotional Markets ranks 18th on Counselor’s latest list of the largest suppliers in the industry.