Jabil Meets Greenhouse Gas Emission Reduction Goal Ahead of Schedule

Source: www.gulfoilandgas.com 2/28/2024, Location: North America

Jabil Inc. (NYSE: JBL) today released its fiscal year 2023 Sustainability Progress Report, detailing the significant progress the company has made toward meeting its five-year sustainability goals. The report highlights major steps forward in the company’s reduction of operational greenhouse gas emissions through its use of renewable energy, efficient use of water, and embrace of the circular economy to reduce landfill waste.

“At Jabil, we are driven by a common purpose: to make a positive impact for each other, our communities, and the environment,” said Kenny Wilson, CEO. “Our purpose and business strategy are firmly rooted in sustainable development, and it is Jabil’s priority to align our efforts with governmental regulations and policies while being mindful of the broader macroeconomic, social, and political trends that influence our contributions.”

Fiscal year 2023 accomplishments:

- Reduced enterprise-wide greenhouse gas (GHG) emissions 29% compared to our 2019 baseline. By hitting this target, we met our operational GHG emissions (Scope 1 and 2) reduction target for fiscal year 2025 two years ahead of schedule.

- Continued our transition to full use of renewable energy by signing Power Purchase Agreements with suppliers in Latin America and Europe.

- Earned Zero Waste to Landfill certification at five manufacturing sites, putting us 5% of the way to our goal of 20% of operations achieving 90% or more landfill diversion.

- Reduced our purchased or acquired water intensity by an average of 19% globally, compared to our 2021 baseline.

- Strengthened our circular economy capabilities through the acquisition of Retronix, a market leader in electronic component reclamation and refurbishment.

- Completed over 1 million volunteer hours in our local communities during calendar year 2023, achieving this bold goal for the second consecutive year.

- Implemented health and wellbeing programs at 99% of manufacturing sites.

- Established and qualified 25 programs for employees with disabilities across our global footprint.

Jabil’s sustainability strategy is closely aligned with the ambitions of our customers, many of whom are the world's leading brands. We recognize this shared objective by committing to partner with and support them as they strive to achieve their own ESG targets.

"Our mission at SolarEdge is to develop smart and renewable energy technologies that promote a low-carbon economy. As a company dedicated to helping build a sustainable future for the planet, it is important for us to have a strategic alliance with a manufacturing solutions provider like Jabil who shares our ambitions,” said Uri Bechor, COO, SolarEdge Technologies. “Together, Jabil and SolarEdge work to combat the global climate crisis through the delivery of industry-leading solutions that maximize power generation while lowering energy costs. In addition to delivering manufacturing excellence and being hyper-focused on quality and cost, Jabil’s steadfast commitment to advancing sustainability issues is vital to our own success. They have been hand-in-hand with us for more than a decade, and we are sure that Jabil will be with us through our journey to the next era."

Across the board, Jabil has made headway on the data-driven sustainability goals established in 2021. The company’s annual sustainability report includes updates aligned to the Global Reporting Initiative (GRI), Sustainable Accounting Standards Board (SASB), and Task Force on Climate-Related Financial Disclosures (TCFD). To ensure accurate reporting, the data within these reports are validated internally and by external third parties.

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