LAUSANNE, Switzerland and NEWARK, Calif., September 9, 2021 /3BL Media/- Logitech International (SIX: LOGN) (Nasdaq: LOGI) announced today that it is adopting a climate positive approach, addressing its carbon footprint across the entire value chain (Scope 1, 2, and 3) to achieve carbon neutrality this year and setting the company on a path to net zero by 2030, and beyond that, climate positive. The world needs faster climate action to combat climate change and its impacts. Therefore, Logitech is accelerating its previous commitments in support of the Paris Agreement and RE100 and is committing to remove more carbon than the company creates, shifting to renewable energy sources and investing in restoration programs.
“Climate change is one of the biggest challenges of our generation. Yet reduction of the net carbon output levels caused by human action isn’t happening fast enough – we need to do more now to help shape a climate positive future,” states Bracken Darrell, CEO of Logitech. “We are accelerating our climate strategy to be carbon neutral this year, across all of Logitech activities and products. We will be net zero by 2030 with an ultimate goal to become climate positive. We’re going beyond what countries have committed to in the Paris Agreement and we’re doing it 20 years earlier because it’s work that cannot wait.”
Accelerating action towards the 2050 goals of the Paris Agreement and the UN Framework Convention on Climate Change demands an expanded climate action strategy. In order for Logitech to adopt the more ambitious goal of net zero by 2030 and climate positive thereafter, the company is taking action with science-based targets that support a Reduce - Renew - Restore strategy with specific programs focused on minimizing energy-intensive products and activities across the company’s product portfolio, operations, value chain and product lifecycle.
Reduce, Renew, Restore Strategy
Reduce: Logitech’s commitment to Design for Sustainability is reinforced throughout all stages of the design and engineering process to reduce a product's potential carbon footprint with innovation in materials, energy efficiency, packaging, production processes, circularity and more - essentially eliminating carbon impact before it arises. The intention is also to revise and update existing products and processes to reduce the impact of existing activities year-on-year. Many Logitech products have already switched to using post consumer recycled plastics and recyclable packaging among other lower carbon options.
Renew: Utilizing renewable electricity is an integral component to Logitech’s energy strategy. Where absolute energy demand cannot be reduced, it will be transitioned to renewable energy sources such as Solar and Wind. Logitech uses a science-based approach in conjunction with life-cycle analysis capability to determine the company's direct carbon emissions (Scope 1 & 2) and indirect, value chain emissions (Scope 3). Work is already underway with suppliers and other stakeholders to transition Logitech’s footprint to renewable electricity via direct access to renewable utilities, on-site generation, and purchase of energy attribute certificates (EACs).
Restore: Adopting a climate positive approach involves a commitment to balance the full scope of emissions (Scope 1, 2, and 3). Over the next nine years, Logitech will progressively increase investments in third-party certified, nature-based, renewables and social projects to avoid carbon emissions, as well as remove carbon out of the air. With climate impacts becoming apparent, Logitech recognizes the urgent need to invest in and support forestry conservation, renewable energy infrastructure, new carbon sinks and climate-impacted communities. This year, Logitech is expanding its restoration investments through a multi-year carbon sequestration project in Fangcheng County, Henan Province, China - planting over 40 million trees. Logitech will eliminate more than 1 million tCO2 year-on-year, with our Reduce-Renew-Restore strategy in 2021 alone. Logitech plans to progressively increase investment in projects that capture and remove carbon, to rectify the damage caused over the last century and restore natural environments.
“We have reaffirmed our commitment to climate action and accelerated our program to reach the 1.5oC goal in support of the Paris Agreement 20 years earlier than anticipated,” states Prakash Arunkundrum, Head of Global Operations and Sustainability. “Science-based reduction targets are driving our momentum and we recognize that business as usual must fundamentally change, to adapt to the changing environment around us. Driving innovation in materials, measurement tools, and technical design processes, as well as collaborating across industries, helps us along our path towards reducing carbon emissions and accelerating towards a decarbonized economy.”
Logitech has the ambition to positively impact sustainability in the consumer electronics industry and is proactively taking an innovative approach to environmental and social sustainability. In addition to the company’s climate positive approach, Logitech is the first consumer electronics company to commit to providing detailed carbon impact labeling on product packaging across the entire portfolio. Learn more about all of Logitech’s sustainability initiatives in the 2021 Sustainability report or on the website.
Logitech helps all people pursue their passions by designing experiences so everyone can create, achieve, and enjoy more. Logitech designs and creates products that bring people together through computing, gaming, video, streaming and creating, and music. Brands of Logitech include Logitech, Logitech G, ASTRO Gaming, Streamlabs, Blue Microphones, Ultimate Ears and Jaybird. Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech at www.logitech.com, the company blog or @Logitech.
Tweet me: .@Logitech is adopting a #ClimatePositive approach, addressing its carbon footprint across the entire value chain to achieve carbon neutrality this year and setting the company on a path to net zero by 2030, and beyond that, climate positive: https://bit.ly/2X5TH5C
KEYWORDS: NASDAQ:LOGI, Logitech, Climate Positive, climate action, Carbon Neutrality, Net Zero