Commercial, Energy Efficiency, GHG Emissions, Sourcing Renewables - March 31, 2021
State Farms to cut emissions 50% by 2030
State Farm announced March 30 that it will reduce its greenhouse gas emissions by 50% by the end of 2030, alongside the release of its first-ever Environmental, Social, and Governance Snapshot report.
The report details the insurance company’s sustainability achievements, such as 80% of its facilities having an Energy Star Score of 75 or higher as it increases its energy efficiency. To achieve its ultimate 2030 emissions target, State Farm plans to reduce direct emissions, such as from company facilities and vehicles, and indirect emissions from its sourced electricity.
Most recently, the company completed a power purchase agreement to power its Richardson, Texas, office and data center facilities with renewable electricity.
Other sustainability projects in the works include the exploration of fleet electrification, energy efficiency projects, VPPAs, and green natural gas.
"For nearly one hundred years, State Farm has functioned on the belief that being a good neighbor means being good stewards of the neighborhoods we serve," Michael Tipsord, State Farm chairman, president & CEO, said in a statement. "We want to help make a better world by building resilient futures, empowering good neighbors, and protecting what matters."