GlobalData offers a comprehensive analysis of Continental, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Continental‘s ESG performance. GlobalData’s company profile on Continental offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Continental, a leading automotive manufacturing company, has set target for net zero by 2040 for its greenhouse gas (GHG) emissions, with an intermediate goal of reducing its own CO2 emissions to 0.7 million metric tons by 2030. The company aims for 100% carbon neutrality throughout its entire value chain, including products, operations, and supply, by 2050, collaborating with partners across the value chain.
Continental's total own CO2 emissions, combining Scopes 1 and 2, decreased to 0.99 million metric tons in 2022, compared to 1.05 million metric tons in 2021. The company also contributed to sustainability efforts by utilizing negative CO2 emissions (CO2 removal) at 0.03 million metric tons in 2022. The company is committed to attaining 100% carbon neutrality for its remaining energy consumption by 2040, encompassing Scopes 1 and 2. This commitment involves reducing CO2 emissions through various initiatives, including energy efficiency projects, substituting fossil fuels, and neutralizing unavoidable CO2 emissions. The company has established a corporate objective to achieve a 95% waste recovery quota by 2030. The company is striving to attain carbon neutrality by 2050 at the latest for Scope 3 CO2 emissions, aligning with its sustainability ambition in accordance with the GHG Protocol.
Continental has implemented various measures to reduce its emissions and achieve its net-zero targets. These include investments in sustainable technologies and processes, as well as efforts to increase waste recovery and reduce accidents. The company is committed to sustainability and has set clear targets for various aspects of its operations. The company's performance in achieving these targets will be assessed by the Supervisory Board based on audited financial statements and non-financial reports.
In conclusion, Continental has set ambitious net-zero targets for its GHG emissions, aiming to achieve carbon neutrality in its entire value chain by 2050. The company is taking steps to reduce its own CO2 emissions, increase waste recovery. Continental's commitment to sustainability is evident in its long-term incentive plan and strategic orientation.
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