The Science Based Targets initiative has validated Illumina's targets to reach Net-Zero greenhouse gas emissions by 2050
SINGAPORE, July 29, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN), a global leader in DNA sequencing and array-based technologies, announced today it is among the first group of companies worldwide to receive approval of its net-zero targets by the Science Based Targets initiative (SBTi). This includes validation of Illumina's corporate greenhouse gas (GHG) emissions reduction targets by the organization.
The SBTi is a global body that enables businesses to set ambitious emissions reduction targets in line with the latest climate science. Its Net-Zero Standard is the world's first science-based certification of companies' net-zero targets in line with the Paris Agreement's goal of keeping planetary warming to 1.5°C.
"Illumina proudly joins the SBTi as the first genomics company in the world with a verified, science-based, net-zero target," said John Frank, Chief Public Affairs Officer of Illumina. "We chose to pursue this approach for our net-zero target to demonstrate that our long-term climate targets are credible, ambitious, and will have a positive impact on human health and our planet."
Illumina SBTi-approved targets
- Net-Zero Target
- Commitment to reach net-zero GHG emissions across Illumina's direct operations (Scope 1 and 2) and our value chain (Scope 3) by 2050 from its 2019 baseline levels
- Near-Term Targets Commitments based on 2019 baseline levels
- Reduce absolute GHG emissions from direct operations by 46% by 2030
- Reduce absolute GHG emissions from indirect operations with a focus on value chain elements associated with purchased materials, transportation, investments, business travel, and employee commuting, by 46% by 2030
- Increase annual sourcing of renewable electricity from 0.6% in 2019 to 100% by 2030
- Long-Term Target Commitments based on 2019 baseline levels
- Reduce absolute GHG emissions from direct operations by 90% by 2050
- Reduce absolute GHG emissions from indirect operations associated with purchased goods and services, capital goods, upstream transportation and distribution, business travel, employee commuting, and investments by 90% by 2050
In October 2021, the SBTi launched the world's first Corporate Net-Zero Standard. In January 2022, it opened this certification to all companies, and Illumina was among the first to request verification of its net-zero target. Now, Illumina is among the first group of companies in the world to receive validation of its science-based targets.
"The SBTi Net-Zero Corporate Standard creates alignment and drives action," said Frank. "There is still much work to be done, but we have committed to the most ambitious level of climate action and we urge others to do the same."
"As a science-based organization, we are compelled to ensure our reduction targets are aligned and verified to a science-based approach," said Sharon Vidal, Head of Corporate Social Responsibility at Illumina. "The validation of our net-zero targets from the SBTi is vital to the integration of environmental stewardship into the fabric of our operations."
Illumina's net-zero progress and sustainability performance will be reported in the annual Corporate Social Responsibility Report.
Illumina's Climate Action Plan includes a $20 million philanthropic commitment to support initiatives dedicated to sustainability innovation and environmental justice, and goals to reduce water-use intensity and waste to landfill in direct operations. Click here to learn more about Illumina's approach to environmental sustainability.
Use of Forward-Looking Statements
This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements include our ability to meet our net-zero targets in a timely fashion, if at all. Other risk factors related to our business are detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts' expectations, or to provide interim reports or updates on the progress of the current quarter.
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit www.illumina.com and connect with us on Twitter, Facebook, LinkedIn, Instagram, and YouTube.
Source: Illumina Singapore Related Stocks: NASDAQ:ILMN