NET 0 Tracker
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"
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, 2023Greenhouse Gas Emissions
Last 3 Years Emissions Data Summary
| Y2021 | Y2020 | Y2019 | |
|---|---|---|---|
| Scope 1 | 2,980,000 | 3,600,000 | 4,050,000 |
| Scope 2 - location-based | NA | NA | 1,780,000 |
| Scope 2 - market-based | 992,000 | 1,250,000 | 1,320,000 |
| Scope 1-2 - location-based | 2,980,000 | 3,600,000 | 5,830,000 |
| Scope 1-2 - market-based | 3,972,000 | 4,850,000 | 5,370,000 |
| Scope 3 | 11,910,000 | 9,361,000 | 8,925,800 |
| Total - location-based | 14,890,000 | 12,961,000 | 14,755,800 |
| Total - market-based | 15,882,000 | 14,211,000 | 13,717,800 |
Note: Data sources detailed here
| Y2022 | Y2021 | |
|---|---|---|
| Total CO2e estimate (by Net0Tracker) | 15,374,459 | 15,882,000 |
| Methodology | Previous year intensity (revenue) | As reported |
Carbon emissions are estimated according to comparable years, intensity and sector benchmarks
Performance vs. Target
Value Chain (scope 3) Emissions by Category
Emissions Trajectory (Full Scopes)
Please refer to the library for viewing the supporting documentation
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.
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 |
Offsets
Last update for 3M Co by zerotracker.net: June 8, 2022| 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 |
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 |
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
- CDP: Data from CDP Climate Change Questionnaire - see Free SFDR data library
- Yourstake: Data from YourStake.org - see Free SFDR data library
- Wikirate: Data from Wikirate.org. Scope 1, Scope 2 and Scope 3 emissions metrics designed by Global Reporting Initiative and contributed by the Wikirate community, adaptation by the Net0Tracker team, licensed under CC BY 4.0. Wikirate-NV means non-verified data sourced in Wikirate. See explanation here
Please refer to the library for viewing the supporting documentation
Library
Sustainability Reports
GHG DATA
Disclosures - Verification
Targets reporting
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