Infinera’s Commitment to Emission Reduction Validated by Science Based Targets initiative
Rhea-AI Summary
Infinera (NASDAQ: INFN) announced that its greenhouse gas (GHG) emission reduction targets have been validated by the Science Based Targets initiative (SBTi). This validation reinforces Infinera's commitment to sustainability in the telecommunications industry through energy-efficient optical networking solutions and ESG initiatives.
SBTi has classified Infinera's Scope 1 and Scope 2 target ambitions as aligned with keeping global warming to 1.5°C in accordance with the Paris Agreement. Infinera's validated targets include:
- Reducing absolute Scope 1 and Scope 2 GHG emissions by 85% by 2030 from a 2020 base year
- Reducing absolute Scope 3 GHG emissions by 25% within the same timeframe
Infinera has already reduced Scope 1 and 2 GHG emissions by 75% since 2020 and is using renewable energy in over 80% of its Tier 1 and Tier 2 sites.
Positive
- SBTi validation of Infinera's GHG emission reduction targets
- Commitment to reduce Scope 1 and 2 GHG emissions by 85% by 2030
- Commitment to reduce Scope 3 GHG emissions by 25% by 2030
- 75% reduction in Scope 1 and 2 GHG emissions since 2020
- Renewable energy use in over 80% of Tier 1 and Tier 2 sites
Negative
- None.
SAN JOSE, Calif., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ: INFN) announced today that its greenhouse gas (GHG) emission reduction targets have been validated by the Science Based Targets initiative (SBTi). This third-party validation reinforces Infinera’s commitment to promoting sustainability in the telecommunications industry through energy-efficient optical networking solution design and environmental, social, and governance (ESG) initiatives. SBTi is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis.
SBTi’s Target Validation Team has classified Infinera’s Scope 1 and Scope 2 target ambitions as in line with keeping global warming to 1.5°C in accordance with the Paris Agreement. SBTi validates that Infinera’s 1.5°C-aligned target is currently the most ambitious designation available through SBTi’s evaluation process. Infinera’s targets as verified by SBTi include:
- A commitment to reduce absolute Scope 1 and Scope 2 GHG emissions by 85 percent by 2030 from a 2020 base year.
- A commitment to reduce absolute Scope 3 GHG emissions by 25 percent within the same timeframe.
Infinera is making significant progress in minimizing its carbon footprint, having reduced Scope 1 and 2 GHG emissions by 75 percent since 2020. The company also confirmed it is using renewable energy in over 80 percent of its Tier 1 and Tier 2 sites.
“SBTi’s validation marks another milestone in Infinera’s long-held sustainability journey, reflecting our ongoing dedication to developing optical networking solutions that offer our customers the lowest power consumption per bit to reduce the environmental impact of telecommunications networks,” said David Heard, CEO at Infinera. “We greatly appreciate our partnership with SBTi to set effective targets that prioritize our planet’s long-term sustainability while enabling a connected future.”
SBTi is a partnership between CDP, the United Nations Global Compact, the World Resources Institute (WRI), and the Worldwide Fund for Nature (WWF). Visit this link for more information on SBTi and participating companies.
Contacts:
Infinera Media:
Anna Vue
Tel. +1 (916) 595-8157
avue@infinera.com
Infinera Investors:
Amitabh Passi, Head of Investor Relations
Tel. +1 (669) 295-1489
apassi@infinera.com
About Infinera
Infinera is a global supplier of innovative open optical networking solutions and advanced optical semiconductors that enable carriers, cloud operators, governments, and enterprises to scale network bandwidth, accelerate service innovation, and automate network operations. Infinera solutions deliver industry-leading economics and performance in long-haul, submarine, data center interconnect, and metro transport applications. To learn more about Infinera, visit www.infinera.com, follow us on Twitter and LinkedIn, and subscribe for updates.
Infinera and the Infinera logo are registered trademarks of Infinera Corporation.
This press release contains forward-looking statements, including but not limited to the Company’s commitments to reduce absolute Scope 1, Scope 2 and Scope 3 GHG emissions by specified percentages during specified timeframes, the Company’s ability to meet such targets, and the environmental benefits of the Company’s optical networking solutions. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about these risks and uncertainties, and other risks and uncertainties that affect Infinera’s business, is contained in the risk factors section and other sections of Infinera’s Quarterly Report on Form 10-Q for the Fiscal Quarter ended June 29, 2024 as filed with the SEC on August 2, 2024, as well as any subsequent reports filed with or furnished to the SEC. These reports are available on Infinera’s website at www.infinera.com and the SEC’s website at www.sec.gov. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies and can be identified by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.
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