Canadian based supplier and contract assembler Magna plans to achieve operational carbon neutrality by 2025 in Europe and 2030 worldwide.

In 2020, 12% of energy purchases was from renewable energy sources and all operations will use such sources eventually. About 91% of total waste outputs from operations were recycled or otherwise diverted from landfills last year.

Magna products such as e-powertrain, active aerodynamics, and lightweight structures and exterior components help automaker customers achive their own emissions and energy consumption reduction goals.

Magna is founding sponsor of the XPrize Abundant Energy Alliance, a global coalition of public, private, nonprofit and academic leaders and organisations.

Magna CEO Swamy Kotagiri said: "We believe achieving carbon neutrality is both a social responsibility and a business imperative in the fight against climate change. This ambitious and achievable goal is rooted in a science-based approach that aligns with the Paris Climate Accord and places us among industry leaders in Europe and North America."

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By GlobalData