March 11, 2019: In recent weeks 3M (NYSE: MMM) announced a new goal to source 100% renewable energy across all of its global facilities by 2050. Alongside this goal the company has also joined RE100 – a leading group of companies who have made commitments to source 100% of their energy needs from renewable sources.
In 2015 Trillium filed a shareholder proposal that led to 3M setting its first-ever quantitative renewable energy goals. Trillium applauds 3M for taking this momentous next step in accelerating the company’s renewable energy sourcing.
Companies increasingly have the opportunity to drive significant change in the demand and consumption of clean energy. By making this commitment, 3M is demonstrating a proactive approach to reducing exposure to volatile energy prices, enhancing U.S. energy security, reducing reputational risk, and meeting the global need for cleaner energy.
Contact: Brianna Murphy, Trillium Asset Management, bmurphy[at]trilliuminvest.com
Important disclosure: This is not a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. The specific securities were selected on an objective basis and do not represent all of the securities purchased, sold or recommended for advisory clients