Valeo says it is committed to achieving carbon neutrality by 2050 and will have reached 45% of its objective by 2030.
By 2030, the French manufacturer maintains its emissions will have decreased by 45% across its entire value chain; including emissions from its suppliers, its own operating activities and end use of its products, compared with 2019.
By 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% carbon neutral (including end use of its products) in Europe.
Valeo is also a signatory of the ‘Business Ambition for 1.5°C’ campaign, which brings together companies committed to achieving carbon neutrality by 2050 using the framework of the Science Based Targets initiative.
“The entire automotive industry is investing heavily to combat global warming,” said Valeo CEO, Jacques Aschenbroich. ” 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 EUR10bn (US$12bn) in 2021.
“We intend to continue our efforts, with the aim of achieving carbon neutrality by 2050 and reaching nearly half of this objective by 2030.”
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By GlobalDataValeo adds it will continue to expand its portfolio of technologies, which contribute to low-carbon mobility, in particular its solutions for vehicle electrification. During the past ten years, Valeo has invested more than EUR10bn in technologies that reduce CO2 emissions.
In 2019, 57% of Valeo’s sales were generated by technologies that help to reduce CO2 emissions. Today, one in three vehicles worldwide is fitted with Valeo technology that helps to reduce CO2 emissions.
Valeo has also pursued a development policy, reducing its water, energy and packaging consumption by 46%, 29% and 32%, for example.
From this year, Valeo will take into account CO2 emissions reduction and sustainable development criteria when determining the variable compensation of more than 1,500 senior executives.
