11:50 AM EST, 01/28/2025 (MT Newswires) -- Lumentum Holdings ( LITE ) said Tuesday that the Science-Based Targets Initiative has approved its near- and longer-term goals to reduce and eventually prevent nearly all of its Scope 1, 2 and 3 greenhouse gas emissions over the next 25 years.

The optical and photonics products manufacturer said it is targeting a 90% reduction in its direct (Scope 1) and indirect (Scope 2) emissions compared with 2022 levels by fiscal 2030. Longer term, it expects to eliminate more than half of emissions throughout its upstream and downstream supply chain (Scope 3) by 2030 and up to 90% by 2050.

Lumentum ( LITE ) said roughly 25% of its customers and 30% of its suppliers expect to have their own science-based targets in place by fiscal 2028.

The Science-Based Targets initiative was created to assist companies and financial institutions lower their emissions of carbon dioxide, methane and other greenhouse gases as part of global efforts to limit the increase in average temperatures around the world by 1.5 degrees Celsius compared with pre-industrial levels.

LITE shares were up 1.8% in recent trading.

Price: 75.53, Change: +1.36, Percent Change: +1.83