Cummins Targets Net-Zero Carbon Emissions Through PLANET 2050
Cummins Inc. CMI recently announced its strategy for a sustainable environment, wherein the company is targeting net-zero carbon emissions by 2050.
The engine maker’s strategy involves science-based targets that meet or exceed the benchmarks in the United Nations Paris agreement on climate change.
The strategy — PLANET 2050 — is aimed at addressing climate change and air emissions, ensuring the most sustainable use of natural resources, and improving communities.
Cummins has laid out eight specific goals it looks forward to reach by 2030. Some of the goals include reduction of greenhouse gas emissions from facilities and newly-sold products by 50% and 25%, respectively. It also anticipates to partner with customers to cut greenhouse gas emissions by 55 million metric tons, and reduce volatile organic compounds emissions from paint and coating operations by 50%.
Cummins also targets to generate 25% less waste, recycle more, eliminate single-use plastics, and reduce water consumption by 30%. The company, in order to achieve the stated goals, is set to make investments which will require new technologies and capabilities.
Further, Cummins is set to initiate a strategic community environmental program in 2020, which is in sync with its 2030 goals. As part of its emphasis on communities and natural resources, Cummins has also collaborated with United Nations, governments, civil society organizations, and other stakeholders to tackle global water issues through corporate water stewardship.
Additionally, the company will continue to work in collaboration with others to promote tough, clear and enforceable regulations across the globe, in order to tackle air emissions and science-based climate policies.
Zacks Rank & Stocks to Consider
Currently, Cummins carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the Auto-Tires-Trucks sector are Spartan Motors, Inc. SPAR, SPX Corporation SPXC and BRP Inc. DOOO, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Spartan Motors has an estimated earnings growth rate of 85.42% for the ongoing year. The company’s shares have surged 115.8% in a year’s time.
SPX has an expected earnings growth rate of 23.18% for 2019. The company’s shares have appreciated 60.4% in the past year.
BRP has a projected earnings growth rate of 18.49% for the current year. Its shares have gained around 36.4% over the past year.
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