Yahoo Finance ADTRAN Announces New SBTi-Approved Targets for Sustainability
ADTRAN Holdings, Inc. ADTN has announced new commitments under the Science Based Targets initiative (SBTi), aiming for net-zero emissions across its value chain by 2048. As an early supporter of SBTi, the company follows the global objective of limiting warming to 1.5°C in line with the 2015 Paris Agreement.
ADTRAN’s near-term science-based targets, based on 2016 levels, include reducing scope 1 and 2 greenhouse gas emissions by 74.5% by 2032. These emissions include those directly generated by the company, such as from fleet vehicles. Additionally, it plans to cut scope 3 emissions — indirect emissions from purchased services and product use — by 40%. By 2048, the company targets a 90% reduction in scope 1 and 2 emissions and a 95% decrease in scope 3 emissions. Since joining the SBTi in 2016, ADTRAN has been developing a scope 3 plan to meet the SBTi’s net-zero standard for managing these most challenging emissions.
ADTRAN highlighted its efforts to cut energy use, improve operations and promote sustainable growth while openly reporting progress to encourage industry-wide change. The new SBTi targets not only demonstrate the company’s dedication to climate responsibility but also mark a notable advancement in its environmental initiatives.
Sustainability Initiatives of ADTRAN’s Peers
Sustainability is vital for all participants at this stage. As climate change emerges as a global focal point, companies are increasingly working toward achieving carbon neutrality. Several of ADTRAN’s peers have also recently announced their progress in this area.
ADTRAN Holdings, Inc. Price and Consensus
ADTRAN Holdings, Inc. price-consensus-chart | ADTRAN Holdings, Inc. Quote
Cisco Systems, Inc. CSCO has set science-based targets to cut greenhouse gas (GHG) emissions. The company aims for a 90% reduction in scope 1 and 2 GHG emissions by 2025 and plans to ensure all new products and packaging use Circular Design Principles by the same year. Cisco also targets a 30% reduction in scope 3 emissions, covering purchased goods and services, upstream transportation, distribution and product use by 2030. Additionally, the company is working toward achieving net-zero GHG emissions across its value chain by 2040.
Juniper Networks, Inc. JNPR is committed to sustainability initiatives and targets to reach net zero emissions by 2040, as outlined in its corporate social responsibility 2024 report. Further, it expects to reduce scope 1 and 2 emissions by 42% by 2030, using 2022 as the baseline year. JNPR targets to lower scope 3 (which includes the use of sold products, supply chain emissions and upstream transportation and distribution emissions) by 25% by 2030.
NETGEAR, Inc. NTGR has introduced a new line of wireless access points with about 60% of their weight made from recycled materials. The company aims to use recycled materials in 30% of new products in 2024 and to increase this to 60% by 2028. NETGEAR is also committed to achieving net-zero operational scope 1 and 2 emissions by 2025. Additionally, by 2025, NETGEAR plans to incorporate 20% Post-Consumer Waste (PCW) in product packaging and 60% PCW in master cartons, supporting circular economy principles.
ADTN’s Zacks Rank & Stock Price Performance
ADTN currently carries a Zacks Rank #4 (Sell). Shares of the company have lost 37.9% in the past year against the sub-industry's growth of 42.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.
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