Extensive solar power portfolio will propel progress toward 2020 goals of Net Zero carbon emissions and 100% renewable energy
Today, The Estée Lauder Companies Inc. (NYSE: EL) joins the business community and world leaders in New York City for Climate Week NYC to announce its progress toward a sustainable future.
As a global company, employer and corporate citizen committed to reducing its carbon footprint, The Estée Lauder Companies is proud to announce significant progress toward its environmental sustainability goals of achieving Net Zero carbon emissions and sourcing 100% renewable energy (RE100) by the end of 2020. Major progress includes the advancement of multiple solar projects across the globe - as part of a broader portfolio of climate and energy solutions to achieve the company’s 2020 sustainability commitments - and the expansion of capital funding dedicated to low-carbon sustainability initiatives.
“As a global business, we understand the importance of being responsible citizens in the communities we serve and see the need for action across sectors when it comes to climate change.” said Nancy Mahon, Senior Vice President, Global Corporate Citizenship and Sustainability at The Estée Lauder Companies. “That’s why, as part of our enterprise-wide strategy for a low-carbon future, we set goals to reach Net Zero carbon emissions and to source 100% renewable electricity for our operations by the end of 2020. The Estée Lauder Companies is proud to be a sponsor of Climate Week and part of the global coalition addressing climate change.”
Nancy Mahon will join a panel discussion at the Opening Ceremony on Monday, September 23, to address the role the business sector can play in minimizing the risk climate change poses to the future of our planet. She will share insights into how the company is minimizing its own climate impact: developing a portfolio of projects that reflects the full scope of climate change mitigation strategies, including renewable energy technologies such as ground-mounted and rooftop solar, wind energy and more.
Over the past three years, The Estée Lauder Companies has implemented significant solar energy solutions in the United States and Europe. One of the company’s initial major investments in support of its Net Zero goal was the installation of a 1 megawatt on-site solar system at its UK-based manufacturing plant in 2016. This system provides 12-14% of the manufacturing site's annual electricity requirements, and in 2019, the site generated 815 megawatt hours (mWh) of solar, saving 483 metric tons of carbon dioxide each year - the equivalent of powering 268 homes in the UK year-round.
Implementation of the latest wave in The Estée Lauder Companies’ solar portfolio will begin later this year with the launch of a 1.3 megawatt ground-mounted solar array at its Melville facility in New York. The site will produce more than 1,800 mWh of solar electricity annually from more than 3,300 panels, preventing the release of a projected 1,300 metric tons of carbon emissions into the atmosphere.
The company’s plans for its solar portfolio continue into the future. These include the activation of photovoltaic solar arrays at both a new distribution center in Switzerland, and a key manufacturing plant in Blaine, Minn. The systems combined will generate almost 2,500 mWh of solar power annually and reduce greenhouse gas emissions by a combined 1,500 metric tons each year.
These achievements toward the company’s Net Zero goals are integral to The Estée Lauder Companies’ commitment to embedding citizenship and sustainability throughout its business operations.