Valeo vows to achieve carbon neutrality by 2050

Automotive supplier says it will reach 45 per cent of its objective across entire value chain by 2030

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ValeoValeo has said it is committed to achieve carbon neutrality by 2050 and will have reached 45 per cent of the target by 2030.

By 2030, the automotive supplier’s emissions will have decreased by 45 per cent across its entire value chain. This includes emissions from its suppliers, its own operating activities and the end use of its products – when compared with 2019.

And, by the year 2050, Valeo will have achieved carbon neutrality for all of its own operating activities and across its entire supply chain worldwide and will be 100 per cent carbon neutral in Europe. This includes the end use of its products.

The company is also a signatory of the “Business Ambition for 1.5°C” campaign that brings together firms committed to achieving carbon neutrality by 2050 using the strict framework of the Science Based Targets initiative.

According to Jacques Aschenbroich, Chairman and Chief Executive Officer, “The entire automotive industry is investing heavily to combat global warming. At Valeo, the reduction of CO2 emissions has been central to our strategy since 2010, and sales generated from technologies that help to reduce CO2 emissions have grown 20-fold to around 10 billion euros in 2021.”

He said that they intend to continue our efforts, with the aim of achieving carbon neutrality by 2050 and reaching nearly half of this objective by 2030.

On a mission

In its journey towards carbon neutrality, 2030 is an a fast-approaching and important milestone. By then, Valeo is committed to reducing emissions related to its operating activities by 75 per cent, from 1.1 million to 0.3 million metric tons of CO2 (Scopes 1 and 2).

It is also committed to bring down emissions related to its supply chain by 15 per cent, from 9.5 million to 8.1 million metric tons of CO2 (upstream Scope 3).

The company will also reduce emissions related to the end use of its products (Scope 3 downstream) by 15 per cent, from 39 million to 33.1 million metric tons of CO2. This reduction is expected to rise to 50 per cent when taking into account emissions avoided thanks to the Group’s electrification technologies, with CO2 emissions declining from 39 million to 19.5 million metric tons.

Also, Valeo will continue to expand its portfolio of technologies that contribute to low-carbon mobility, in particular its solutions for vehicle electrification, a field in which the Group is currently world leader. Over the past ten years, Valeo has invested more than 10 billion euros in technologies that reduce CO2 emissions.

(With inputs from Automotive Lead Research Team)

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