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3M Plans $1 Billion in Spending to Cut Emissions, Save Water

  • CEO says none of the spending will go to buying carbon offsets
  • Cuts would equal annual emissions from almost 1.2 million cars
   

Photographer: Scott Eells/Bloomberg

3M Co. plans to spend $1 billion to zero-out emissions in its own operations by 2050 and slash water use, joining the growing ranks of companies pledging to curb emissions linked to climate change.

Achieving such a goal would mean eliminating the roughly 4 million metric tons of carbon dioxide emitted by more than 200 manufacturing sites and other locations globally in 2019, plus another 1.3 million metric tons tied to energy purchased by the company. Combined, those emissions are roughly equivalent to the annual greenhouse gas emissions of nearly 1.2 million passenger cars.