Facebook aims to reach net-zero emissions across the “value chain” by 2030
Facebook (NASDAQ:FB) said Thursday it has reached its target of strengthening its global business from renewables.
The social networking company founded in 2004 by Mark Zuckerberg, confirmed it had not reached its first 2020 deadline.
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Facebook will expand its efforts to reach net-zero emissions across the value chain by 2030. This includes active services such as suppliers and travel and employee commutes.
The NASDAQ-registered company first disclosed its plans to promote 100% renewable energy in 2018 as the leading technology companies made efforts to offset the impact on the environment. That’s two years after the Paris Climate Agreement, which has pledged to keep global temperatures below 2 degrees Celsius.
Facebook has also confirmed an agreement to buy renewable electricity from Indian power plants as part of a broader plan to become a domestic green electricity provider.
The social media giant said it would purchase electricity from a 32MW wind power project in South Karnataka, run by partner CleanMax.
The deal is one of several projects CleanMax is working on, and India is one of Facebook’s biggest markets in terms of user base.
The amount of electricity used by data companies and Bitcoin mining and how it affects the global climate for companies like Facebook are becoming increasingly important issues.
Data centers like Facebook uses make the most of 1% of the world’s total energy.
Apple, Amazon, Google’s fellow stocks, and Microsoft all spent a huge amount of money proposing their own climate targets and eliminating the carbon-producing generation.
Not only does it adhere to ESG principles, it could result in investor pressure to maintain growth, which could be a great balance act for the company.
