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Jack Henry (JKHY) to Reduce Carbon Footprint With New Targets

Jack Henry JKHY intends to set its science-based climate targets in collaboration with the Science Based Targets initiative.

On the back of the recent targets, the company strives to reduce its short-term Greenhouse Gas (GHG) emissions. Moreover, Jack Henry aims at achieving long-term sustainability of its business model on the heels of its latest move.

Additionally, the move bodes well for the company’s deepening focus toward its ‘Low Carbon Transition Plan’ and 100% renewable energy commitments.

According to Jack Henry’s 2022 Sustainability Report, it lowered its Scope 1 and 2 GHG emissions in fiscal 2021 by 13.5% and 16.7% from fiscal 2020 and fiscal 2019, respectively.

Jack Henry & Associates, Inc. Price and Consensus

Jack Henry & Associates, Inc. Price and Consensus
Jack Henry & Associates, Inc. Price and Consensus

Jack Henry & Associates, Inc. price-consensus-chart | Jack Henry & Associates, Inc. Quote

Carbon Neutrality Gaining Steam

We note that Jack Henry which carries a Zacks Rank #4 (Sell), faces stiff competition in the carbon neutrality game which is constantly gaining steam with the growing endeavors of many other tech companies like Lam Research LRCX, KLA Corporation KLAC and Applied Materials AMAT, to name a few.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Lam Research seems to be progressing well on its environmental sustainability path, which is evident from its recent accomplishments. The company, which is committed to reaching its goal of net-zero carbon emissions by 2050 and operating its business on 100% renewable energy by 2030, has introduced a foundational strategy to boost sustainability throughout the supply chain.

Further, LRCX has come up with various energy-efficient etch products, which are capable of reducing tool use of helium by up to 80%. The products are designed to boost generator efficiency by up to 15% in NAND and foundry logic development.

Meanwhile, KLA is committed to powering its global operations with 100% renewable energy by 2030. It is targeting a 46% cumulative reduction in both Scope 1 and Scope 2 emissions by 2030 from its 2019 baseline.

Applied Materials, on the other hand, joined a global initiative called RE100, committing to 100% renewable electricity. Reportedly, the company is progressing well to achieve 100% renewable electricity by 2030, which is a major positive. By running its business on 100% renewable energy and sourcing it worldwide by 2030, the company will be able to reduce its carbon footprint.

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