GlobalData offers a comprehensive analysis of Martinrea International, 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 Martinrea International‘s ESG performance. GlobalData’s company profile on Martinrea International 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.
Martinrea International, a global automotive supplier, in its commitment to sustainability and addressing climate change, prioritizes a comprehensive approach, emphasizing the reduction of its carbon footprint and environmental compliance. This aligns with the company's corporate strategy deeply embedded in its vision and mission, aiming to gain a competitive edge in an industry valuing sustainability. Martinrea focuses on reducing its greenhouse gas (GHG) emissions, increasing the utilization of renewable resources, and reducing negative environmental impacts through a targeted climate change strategy as outlined in its 2022 Sustainability Report.
Through an active energy management system, Martinrea calculates its carbon emissions using the international standard Greenhouse Gas Protocol (GHG Protocol). In 2022, the company internally set ambitious carbon reduction targets (Scope 1 & 2) at 3% from the 2019 baseline across the entire organization. The reported carbon emission data for the year includes 82,306 mtCO2 for Scope 1, 202,855 mtCO2 for Scope 2, and a total of 285,161 mtCO2 for Scope 1 and 2 combined. The Carbon Intensity, measuring 0.0000599 mtCO2/sales(CADS), showcases a commendable 19% reduction since the 2019 baseline. Martinrea's manufacturing processes heavily rely on natural gas and electricity as primary energy sources, contributing to the majority of Scope 1 and Scope 2 emissions, respectively. The company is aware of the significance of Scope 3 emissions in the overall carbon footprint and is actively working to develop strategies for accurate data collection in this category.
The company recognizes the importance of reducing GHG emissions and has implemented various measures to achieve this goal. Martinrea employs SmartWay Certified Carriers for inbound freight shipments to reduce upstream and downstream Scope 3 carbon emissions. It also invests in energy reduction programs, water purification programs, and the use of renewable resources to minimize its environmental impact. Martinrea is dedicated to responsible supply chain management and encourages its suppliers to become ISO 14001 certified. The company also focuses on recyclability and end-of-vehicle programs to promote sustainability in the automotive industry.
Martinrea, as per its 2022 plans has committed to a target of achieving a 35% reduction in carbon emissions (Scope 1 and 2) by 2035. To realize this goal, the company's sustainability strategy prioritizes ongoing energy optimization initiatives across all its plants, alongside a phased-in increase of renewable electricity sources on a global scale. Martinrea endeavors to establish itself as a genuinely sustainable entity by prioritizing increased energy efficiency, followed by the incorporation of renewable energy where feasible, resorting to carbon offsets only when deemed necessary.
In conclusion, Martinrea International demonstrates a strong dedication to sustainability and addressing climate change through a comprehensive strategy aimed at reducing carbon emissions. The company's commitment to achieving substantial emission reductions, expanding the use of renewable resources, and advocating responsible supply chain management underscores its dedication to creating a more sustainable future.