Seagate Technology Holdings plc (NASDAQ: STX) has recently published its FY2023 ESG Performance Report, marking significant advancements in their environmental initiatives. The report, titled “Sustainable Datasphere: FY2023 ESG Performance Report,” details the company’s progress in renewable energy adoption and circularity programs.
Key Highlights:
- Over 50% of Seagate’s energy consumption in FY2023 came from renewable sources.
- Commitment to achieve 100% renewable energy by 2030 and carbon neutrality by 2040.
- Circularity programs led to the refurbishment and reuse of 1.19 million hard drives, preventing 553 metric tons of e-waste.
Progress in Renewable Energy and Carbon Neutrality
Seagate’s journey towards environmental sustainability includes a significant shift towards renewable energy sources. The company reported that more than half of its energy consumption now comes from renewable sources, with facilities in China, Thailand, and Northern Ireland achieving 100% renewable energy usage. This move aligns with Seagate’s ambitious goal to power all its manufacturing and R&D facilities entirely by renewable energy by 2030.
In pursuit of carbon neutrality, Seagate remains steadfast in its commitment to reduce its carbon footprint significantly by 2040. The company’s efforts have already led to a decrease in Scope 2 market-based emissions, which dropped significantly from approximately 749,000 metric tons of carbon dioxide equivalent in CY2021 to around 288,000 in CY2022.
Advancements in Circularity and E-Waste Reduction
Seagate has actively expanded its circularity program, which focuses on the refurbishment and redeployment of hard drives and solid-state drives. In FY2023 alone, this initiative has extended the life of roughly 1.19 million drives, which has been instrumental in reducing e-waste—an estimated 553 metric tons of electronic waste was diverted from landfills due to these efforts.
Commitment to Social Responsibility and Governance
The report also underscores Seagate’s achievements in diversity and inclusion, workplace safety, and community engagement. Notable accomplishments include:
- Recognition for consecutive years as a leader in LGBTQ inclusion and as a top employer for women and military veterans.
- A significant reduction in workplace incidents, with the Total Recordable Incident Rate at just 14% of the industry average.
- Engagement in over 150 community initiatives focusing on STEM education and academic collaborations.
For more detailed information on Seagate’s ESG initiatives, interested parties are encouraged to visit the company’s ESG dedicated web page.
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