Lumentum Secures Approval for Near- and Long-Term Greenhouse Gas Emissions Reduction Targets from the Science-Based Targets Initiative

• Lumentum has received approval for near (2030) and long-term (2050) science-based emissions reduction targets from the SBTi.
• The SBTi has verified Lumentum’s net-zero science-based target by 2050.

SAN JOSE, Calif.--(BUSINESS WIRE)--Lumentum Holdings Inc. ("Lumentum"), a market-leading designer and manufacturer of innovative optical and photonic products for cloud, networking and industrial applications, announced today that its near-term and net-zero science-based targets for greenhouse gas (GHG) emissions have been approved by the Science-Based Targets initiative (SBTi). This approval highlights the company’s ambitious goals to reduce GHG emissions based on the latest climate science and in alignment with the objectives of its key customers, including cloud data center and artificial intelligence infrastructure providers.

Near-Term Greenhouse Gas Emissions Reduction Targets

The SBTi approved Lumentum’s near-term, science-based emissions reduction targets that align with the initiative’s criteria for limiting global warming to 1.5°C, including:

• 90% reduction in absolute Scope 1 and 2 GHG emissions by Fiscal 2030, from a Fiscal 2022 baseline.
• 52% reduction per data capacity delivered in Scope 3 GHG emissions (from use of sold cloud and networking products) within the same timeframe.
• 30% of Lumentum suppliers to have their own science-based targets for emissions covering purchased goods and services by Fiscal 2028.
• 25% of Lumentum customers to have their own science-based targets for emissions covering use of sold products by Fiscal 2028.

Long-Term Greenhouse Gas Emissions Reduction Targets

The SBTi also approved Lumentum’s long-term targets under its Corporate Net-Zero standard, as part of its commitment to reach net-zero GHG emissions across the value chain by 2050, including:

• Maintain a minimum 90% reduction in absolute Scope 1 and 2 GHG emissions expected in Fiscal 2030 to continue through Fiscal 2050, from a Fiscal 2022 baseline.
• 90% reduction in absolute Scope 3 GHG emissions by Fiscal 2050, within the same timeframe.

"Reducing greenhouse gas emissions is a priority for our customers, especially cloud operators and artificial intelligence infrastructure providers,” said Alan Lowe, president and CEO of Lumentum. “The approval of our science-based targets by SBTi highlights our alignment with customer priorities and our determination to lead in our industry in both technology innovation and sustainability, benefiting our customers and all stakeholders."

The SBTi Net-Zero Standard is the world’s only initiative that provides guidance and tools to help companies set net-zero targets in line with climate science.

To learn more about science-based targets and climate action initiatives at Lumentum, please visit its Sustainability page.

About Lumentum

Lumentum (NASDAQ: LITE) is a market-leading designer and manufacturer of innovative optical and photonic products enabling optical networking and laser applications worldwide. Lumentum optical components and subsystems are part of virtually every type of telecom, enterprise, and data center network. Lumentum lasers enable advanced manufacturing techniques and diverse applications, including next-generation 3D sensing capabilities. Lumentum is headquartered in San Jose, California, with R&D, manufacturing, and sales offices worldwide. For more information, visit www.lumentum.com and follow Lumentum on LinkedIn, X, Facebook, Instagram, and YouTube.

About the Science Based Targets Initiative (SBTi)

The SBTi drives ambitious corporate climate action by enabling businesses to set emissions reduction targets in line with the latest climate science. A collaboration between CDP, the United Nations Global Compact, World Resources Institute, and WWF, the initiative aims to accelerate companies toward halving emissions before 2030 and achieving net-zero by 2050. Learn more at www.sciencebasedtargets.org.