The 3M Company: How to Use Radical Transparency to Generate Value for the Company

The 3M Company: How to Use Radical Transparency to Generate Value for the Company

DOI: 10.4018/978-1-5225-2417-5.ch007
OnDemand PDF Download:
$30.00
List Price: $37.50

Abstract

This chapter has a purpose to acknowledge 3M's greatest opportunity to overcome sustainability and transparency challenges which lies within innovation and collaboration. As a science company, 3M partners with its customers and communities to make the world cleaner, safer and stronger. Starting with technology and working toward the improvement of every life on the planet allows the company to think holistically about addressing global challenges. With an eye toward the future, 3M launched their 2025 sustainability goals. These goals range from investing in sustainable materials and energy efficiency to water management and helping the customers reduce their greenhouse gas emissions through the use of 3M products. 3M has also set goals around building a diverse workforce and worker and patient safety in health care and industrial settings. 3M continues to invest in developing products that help its customers reach their environmental goals, as well as increasing its social sustainability efforts.
Chapter Preview
Top

Introduction

As the global population marches toward 9 billion people, it is creating an even more urgent need to address sustainability challenges — from air pollution and water shortages to food safety and clean energy. The company’s greatest opportunity to overcome these challenges lies with innovation and collaboration. As a science company, 3M partners with its customers and communities to make the world cleaner, safer and stronger. Starting with technology and working toward the improvement of every life on the planet allows the company to think holistically about addressing global challenges. The company’s investments in sustainable technologies are guided by the customers’ needs. These include glass bubbles that make cars lighter and more fuel efficient, films that make smartphones and buildings more energy efficient, and low global warming potential immersion fluid that cools data centers.

Beyond collaborating with customers, 2015 has been a year of many 3M partnerships toward building a better future:

  • 3M joined other global companies to help municipalities implement recycling programs through the Closed Loop Fund. This landmark partnership will invest $100 million to protect the environment, generate revenue for cities and create thousands of jobs.

  • 3M made an agreement to purchase electricity from a wind farm, helping us work toward our renewable energy goals for 2025.

  • 3M announced a revised pulp and paper sourcing policy providing leading-edge protection for forests, critical habitats and forest communities worldwide.

  • During 3M’s Global Volunteer Day, 3Mers from 80 international locations renovated schools, built outdoor learning centers and engaged thousands of students on the power of science to improve lives. This supports our broader work to encourage young people to enter STEM-related fields.

  • 3M Pollution Prevention Pays (3P) program celebrated its 40th anniversary, having prevented over 2.1 million tons of pollution and saving nearly $2 billion (USD) since 1975.

With an eye toward the future 3M launched their 2025 sustainability goals. These goals range from investing in sustainable materials and energy efficiency to water management and helping our customers reduce their greenhouse gas emissions through the use of our products. 3M has also set goals around building a diverse workforce and worker and patient safety in health care and industrial settings. 3M continues to invest in developing products that help our customers reach their environmental goals, as well as increasing its social sustainability efforts as demonstrated by its ongoing commitment to the UN Global Compact and its principles. Moving forward, the emphasis on applying 3M science to improve lives will continue to grow, as will the emphasis on collaboration — with customers, partners and communities.

3M is driven by its Vision: 3M Technology advancing every company, 3M Products enhancing every home and 3M Innovation improving every life. Sustainability is embedded in every aspect of that vision.

Our world is changing more rapidly than ever before and the global community faces evolving challenges of access to clean water; access to education and jobs; access to adequate healthcare; a changing climate; and a demand for raw materials that strains our world’s resources. As a company rooted in scientific exploration, 3M is applying technological expertise to help solve some of these challenges that serve as barriers to the improvement of every life on the planet. The people in 3M believe the path to progress begins with a clear purpose and that the best ideas empower people to think, create and live with intent. A sense of purpose is at the heart of how they approach every idea, every product, every life and every community the company touches.

Complete Chapter List

Search this Book:
Reset