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3M announces to invest USD 1 Billion Dollar plan to accelerate new environment goals

By the end of 2023, 3M plans to install state-of-the-art water purification system at all its largest water-using facilities and make them operational by 2024.

United States. Long-standing supporter and promoter of conservation efforts globally, 3M has announced to invest USD 1 billion over the next 20 years to achieve eco-friendly goals like achieving carbon neutrality by 2050, reducing water consumption by 25% at its facilities, and return high quality water to the environment after usage in industrial operations. The objectives of the long-term investment plan of the organization include waste reduction, pollution control, water usage reduction, and acquire the best available technology to continuously improve its manufacturing operation and create a sustainable environment.

Collaborating with customers, governments, and global partners to cut down carbon emissions and water use through its continued invention and introduction of innovative products and solutions. Leveraging science and technological expertise, 3M is planning to reduce carbon emissions, aiming for a 50% reduction by 2030, an 80% reduction by 2040, and 100% reduction by 2050 in its operations. Moreover, 3M is expected to take drastic actions to drive reduction in water usage in coming months and over the long-term, aiming for 10% reduction in water usage by 2022, a 20% reduction by 2025, and a 25% reduction by 2030. Through its initiatives, the company plans to return even high quality of water to the environment, removing impurities and toxins from the water it uses for the manufacturing operations. The new commitments add to the company’s existing 2025 goals of engaging with water-stressed and scarce communities to encourage community-wide approaches to water management.

3M has moved to the forefront of global sustainability efforts by announcing complete detailed plan to reduce the water utilization and net zero emissions by 2050. The science-based approach in 3M’s goals would improve the company’s own footprint and position them uniquely to gain benefit from the global transformation towards a net-zero world.

Announcing the eco-friendly initiatives, 3M Chairman and Chief Executive Officer said, “We are taking action now to bend the curve on carbon emissions and water use and improve water quality. Our investments will make us more effective and efficient and drive growth. Today's announcements demonstrate again how 3M applies science to improve lives to help shape the world through cleaner air, better water quality, and less waste.” He further added, “We are proactively reviewing our manufacturing facilities, going plant by plant to make investments and updates that will go beyond what is required, and at the same time further improve our operations. We are applying 3M technologies at a broad scale, which allows us to do more to reduce, restore and reuse the water in our manufacturing processes. We are offering our experience and expertise to communities so we can help others achieve better water quality."

TechSci Research said, “As the demand for water is increasing and the world is facing catastrophic shortages, the sustainability of water resources is becoming a critical public issue. Maximising the lifetime of components and reliability of the water purification system can lead to lower carbon footprint and reduced environmental impact. The choice of technology can have a significant impact on water and power usage throughout the lifetime of water purification system. The advancement in technology would further drive the market growth of POE water purifier in the coming years.”

According to TechSci research report on “ASEAN Water Purifier Market By Product Type (Under Sink, Counter Top, Faucet Mount & Others {Tankless, Smart Purifiers etc.}), By Sales Channel (Retail, Distributor and Others), By Country (Indonesia, Vietnam, Philippines, Singapore, Myanmar, Cambodia), Competition, Forecast & Opportunities, 2026”, ASEAN water purifier market was valued USD 749.84 Million in 2019 and is expected to grow at CAGR of 9.71% during the forecast period. Rapid urbanization, favourable government regulations for safe and portable water and growing industrial developments is expected to drive growth in ASEAN water purifiers market. Furthermore, rising number of waterborne disease and health disorders due to increasing levels of pollutants in groundwater and rivers, increasing level of contaminants in water such as suspended solids, toxins, harmful gases & chemicals coupled with depleting natural water resources is anticipated to fuel the water purifiers market in the region.

According to TechSci research report on “Global Water Purifiers Market By Technology (Membrane, Media & UV), By Region (Asia-Pacific, North America, Europe, Middle East & Africa and South America), Competition, Forecast & Opportunities, 2015 – 2026”, Global water purifiers market valued at USD 41.22 billion in 2019 and is projected to grow at a CAGR of 8.06% during 2020-2026 and reach a market value of USD 68.09 Billion by 2026. The rapid growth can be accounted to rapid industrialization, personal disposable income, and rising awareness about waterborne diseases. Moreover, continuous industrial expansion and unmonitored wastewater discharged into the water resources is deteriorating the quality of water, and leading to health concerns among consumers, which has increased the demand for water purifiers during the forecast period.

Relevant Reports

ASEAN Water Purifier Market By Mode (POU and POE), By Type (Under Sink, Counter Top, Faucet Mount & Others (Tankless, Smart Purifiers etc.), By Technology (RO, UF, UV, Media, & Others), By Sales Channel (Distributor, Direct, Retail, Plumber / Contractor and Online), By Country, Competition, Forecast & Opportunities,

Consumer Goods and Retail | Jul, 2021

Increasing health awareness, rapid economic growth, rising urbanization and deteriorating ground and surface water quality to drive the growth of the ASEAN water purifier market

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