3M

"The company 3M has set a target of achieving Carbon neutrality. Net Zero Tracker
An interesting fact about their environmental policy is that they are the only company in the Chemicals industry with a Carbon neutrality target. Net Zero Tracker"

Current Score (vs. LY)

41.5 pts (2.5)

Last Update: Dec. 12, 2023

Current Rankings

Global: #97

S&P100: #67

Industrials: #12

93.3%

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

15.0%

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

25.0%

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2021Y2020Y2019
Scope 1 2,980,0003,600,0004,050,000
Scope 2 - location-based NANA1,780,000
Scope 2 - market-based 992,0001,250,0001,320,000
Scope 1-2 - location-based 2,980,0003,600,0005,830,000
Scope 1-2 - market-based 3,972,000 4,850,000 5,370,000
Scope 3 11,910,0009,361,0008,925,800
Total - location-based 14,890,00012,961,00014,755,800
Total - market-based 15,882,000 14,211,000 13,717,800

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 15,378,80815,882,000
Methodology Previous year intensity (revenue)As reported

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.


Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)



Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

3M belongs to the sector Industrials.

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

Scope Reduction Objectives Base Year Target Year Comments
S1S2LOC 50.0 2002 2025
S1S2MKT 50.0 2019 2030
S1S2MKT 80.0 2019 2040
S1S2MKT 100.0 2019 2050

Net Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email


Net Zero Future Commitments

Scope Scope 3 Coverage Target Year Comments
S1S2MKT NO 2050

Science-based Targets (SBTI)

Date Published / Updated :01/10/2024

Near-term Long-Term Net Zero Standard
Targets Set : 1.5°C by 2030 No target No

3M commits to reduce absolute scope 1 and 2 GHG emissions 52.6% by 2030 from a 2019 base year. 3M also commits to reduce absolute scope 3 GHG emissions 42% by 2030 from a 2021 base year.

Data source: SBTI

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Offsets

Last update for 3M Co by zerotracker.net: Sept. 4, 2024
Planning to use external offset credits Not Specified
Separate targets for emission reductions and removals No
Conditions on use of offset credits None
Plans for carbon dioxide removal (CDR) Not Specified

Data source from zerotracker.net - For more information, see methodology

Score Summary

Ref Principle Score
(points) 		Max
(points) 		Delta
(points)
1 At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified 10.0 10.0 0.0
2 Scope 3 emissions are fully reported and externally-verified 10.0 10.0 0.0
3 CDP score demonstrates the level of transparent disclosures 8.0 10.0 0.0
Transparency 28.0 30.0 0.0
4 Net Zero Commitments by 2050 include an intermediate target and cover all the emissions 6.0 10.0 0.0
5 Net Zero targets demonstrate a high-level of emergency 0.0 10.0 0.0
6 Emission reduction targets on a forward-looking basis are ambitious 0.0 10.0 0.0
7 Targets are science-based as validated by SBTi 0.0 10.0 0.0
Commitments 6.0 40.0 0.0
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 5.0 10.0 0.0
9 Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
10 Implied Temperature Rating by MSCi 2.5 10.0 2.5
Results 7.5 30.0 2.5
Total 41.5 100.0 2.5


Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email


Score Details

Criteria Results 2023 Score 2022 Score Vs. 2022 2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period? yes 5.0 / 5.0 5.0 0.0 5.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year? yes 5.0/ 5.0 5.0 0.0 5.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed? full 5.0 / 5.0 5.0 0.0 5.0
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? full 5.0 / 5.0 5.0 0.0 5.0
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)? B 8.0 / 10.0 8.0 0.0 8.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050? yes 3.0 / 3.0 3.0 0.0 3.0
Does the net zero target include an intermediate target by 2030? 2025 3.0 / 3.0 3.0 0.0 3.0
Does the net zero target include all the emissions? NC 0.0 / 4.0 0.0 0.0 0.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? 2050 0.0 / 5.0 0.0 0.0 0.0
Target year for achieving net zero emissions for S1+S2+S3 combined? NC 0.0 / 5.0 0.0 0.0 0.0
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2? -51.8
0.0 / 5.0 0.0 0.0 4.5
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?
No target found
 0.0 / 5.0 0.0 0.0 0.0
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to? NC 0.0 / 10.0 0.0 0.0 0.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %): 41.3
Actual (in %): 83.7
5.0 / 5.0 5.0 0.0 5.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
Forward-looking reduction could not be calculated
 0.0 / 5.0 0.0 0.0 5.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets? ITR: 3.0°C 2.5 / 10.0 0.0 2.5 7.5
Total 41.5 / 100.0 39.0 2.5 56.0


Available Data Sources

Reporting Year 2022 2021 2021 2020 2020 2020 2019 2019 2019
Source Wikirate (NV) Public Yourstake Public CDP Public CDP Public Wikirate (NV)
Publication Year 2023 2022 2022 2022 2021 2021 2020 2021 2020
Scope 1 2,420,000 2,980,000 2,980,000 3,600,000 3,600,000 3,600,000 4,050,000 4,050,000 4,050,000
Scope 2 - location-based 1,460,000 NA 1,590,000 NA 1,680,000 1,680,000 1,780,000 1,780,000 1,780,000
Scope 2 - market-based NA 992,000 992,000 1,250,000 1,250,000 1,250,000 1,320,000 1,320,000 NA
Scope 1-2 - location-based 3,880,000 2,980,000 4,570,000 3,600,000 5,280,000 5,280,000 5,830,000 5,830,000 5,830,000
Scope 1-2 - market-based NA 3,972,000 3,972,000 4,850,000 4,850,000 4,850,000 5,370,000 5,370,000 NA
Scope 3 10,700,000 11,910,000 11,910,000 9,361,000 9,279,300 9,279,300 8,925,800 8,925,800 0
Total - location-based 14,580,000 14,890,000 16,480,000 12,961,000 14,559,300 14,559,300 14,755,800 14,755,800 5,830,000
Total - market-based NA 15,882,000 15,882,000 14,211,000 13,573,300 14,129,300 13,717,800 14,295,800 NA

Sources

Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

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