State Farm Commits to Reducing Greenhouse Gas Emissions
In conjunction with today’s release of the first State Farm® Environmental, Social and Governance Snapshot, State Farm announces its commitment to reduce its greenhouse gas (GHG) emissions by 50 percent by the end of 2030.
Initially, State Farm will focus its efforts on reducing two types of emissions:
- Direct GHG emissions, such as those from company facilities and vehicles (Scope 1 emissions)
- Indirect GHG emissions, such as those from the generation of electricity supplied to the Company (Scope 2 emissions)
“As a company, our mission is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams,” said State Farm Chairman, President & CEO Michael Tipsord. “We also believe we have a responsibility to promote, influence, and engage in environmentally sustainable behaviors on behalf of our current and future customers and associates.”
This 50-percent reduction goal aligns with the Science-Based Target initiative (SBTi) goal of keeping global temperature rise below 1.5 degrees Celsius by 2050.
State Farm is currently working with a third party to validate its GHG assessment and obtain Independent Assurance Statements for 2019 and 2020 GHG baseline data.
State Farm has already made progress toward this goal, with recent facility efficiency measures detailed in its ESG report along with a recently-finalized renewable power purchase commitment for its Richardson, Texas office and data center facilities.
State Farm is also exploring sustainable solutions for fleet vehicles, energy efficiency capital projects, virtual power purchase agreements, and green natural gas.