GlobalData offers a comprehensive analysis of Seagate, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Seagate’s ESG performance. GlobalData’s company profile on Seagate offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Seagate announced two ambitious environmental goals in 2022: to power all their manufacturing and R&D sites with 100% renewable energy by 2030 and to achieve carbon neutrality by 2040. Seagate recognizes the unsustainable nature of the current linear consumption model and focuses its environmental efforts on conserving energy and water, reducing greenhouse gases, decreasing waste generation, and innovating in the circular economy. Seagate's latest filings mentioned the keywords 'Circular Economy' and 'Recycling' most number of times in relation to 'Climate Change'.
Seagate’s largest sources of Scope 1 and 2 GHG emissions continue to be purchased electricity and fugitive emissions. In 2021, the company's total Scope 1 emissions were 355,206 metric tons of CO2e, Scope 2 (market-based) emissions were 749,492 metric tons of CO2e, while its total Scope 3 emissions were 11,056,100 metric tons of CO2e. Seagate achieved a 2.32% decrease in Scope 1 and Scope 2 (market-based) GHG emissions between CY2017 and CY2021. The company remains committed to its current Science Based Targets while actively working towards its new moonshot goals.
The company also focuses on preventing waste from being produced and then moves to reuse or recycle waste where possible. In CY2021, Seagate achieved a 17.5% increase in water recycling and a 17.1% reduction in water intensity compared to CY2020, demonstrating its commitment to improving water sustainability. Additionally, 87% of hazardous waste generated in FY2022 was recycled, and 21K MWh of non-hazardous waste was diverted from landfills in FY2022.
In conclusion, Seagate has set ambitious goals to achieve 100% renewable energy usage and carbon neutrality. They prioritize sustainability through energy and water conservation, GHG reduction, circular economy practices, and waste recycling. Seagate's commitment to these initiatives reflects their dedication to environmental responsibility.
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