Qualcomm Plans To Achieve Net-zero Global Emissions For Scopes 1, 2 And 3 By 2040 - Quick Facts

(RTTNews) - Wireless technology innovator Qualcomm Inc. (QCOM) announced Monday plans to achieve net-zero global emissions for Scopes 1, 2 and 3 by 2040 and committed to the Science Based Targets initiative's (SBTi) Business Ambition for 1.5°C.

This builds on the Company's existing greenhouse gas (GHG) emissions reduction goal and includes interim 2030 science-based emissions reduction targets across Scopes 1, 2 and 3.

Qualcomm has set three long-term GHG reduction goals, which supplement the Company's existing 2025 GHG reduction strategy.

The company intends to reduce absolute Scope 1 and 2 GHG emissions by 50% by 2030 from 2020 base year. It will also reduce absolute Scope 3 GHG emissions by 25% by 2030 from 2020 base year and expects to reach net-zero global emissions for Scopes 1, 2 and 3 by 2040.

Qualcomm is already working towards achieving these long-term goals by purchasing 100% renewable energy for its San Diego headquarters.

The Company's strategy includes transitioning to renewable energy via long-term Power Purchase Agreements (PPAs), decarbonizing its operations and using a minimal amount of Renewable Energy Credits (RECs) and carbon offsets for residual emissions.