View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 12, 2022

Vitesco aims for carbon neutrality along value chain by 2040

Sustainability key to corporate strategy.

By Simon Warburton

Vitesco says it wants to achieve carbon neutrality along its entire value chain by 2040 at the latest.

The supplier maintains it is “going well beyond its direct environmental impact” (scopes 1 and 2), which the company seeks to make completely climate-neutral by 2030.

The objective is to apply to all business processes along the entire value chain (scope 3) by 2040 at the latest; specifically, all supplier products and subsequent use of Vitesco Technologies components and systems in vehicles.

“With our broad product portfolio of solutions for electric mobility, we see ourselves as a key driver of the technological transformation to clean, climate-friendly mobility,” said Vitesco Technologies CEO, Andreas Wolf.

“Therefore, sustainability is key to our corporate strategy. Moving forward, we’re taking a rigorous approach in this regard, with a clear goal in mind.”

With its stock exchange listing last September, Vitesco has presented a sustainability agenda encompassing five focal topics: In addition to clean mobility, resource efficiency, circularity, fair working conditions, diversity, responsible purchasing and partnerships, climate protection is also included.

“We’re already on the right track in this regard,” added Vitesco CHRO responsible for sustainability at executive board level, Ingo Holstein.

“By 2030, we will be shaping our own corporate activities worldwide in a CO2-neutral way.”

Vitesco notes it sources 100% of its purchased electricity worldwide from renewable energy sources. As a result, the company has reduced emissions from its own processes by 89% compared to the base year, 2019.

“For the remaining energy still procured from fossil-fuel resources, we will create ecologically viable alternatives in the near future, such as heat from biogas and systematic electrification,” added the company.

Besides covering its electricity needs exclusively from renewable energy sources, Vitesco is also working on reducing its overall energy consumption. “We want to save a total of 80 GWh of energy by 2030 with the help of energy efficiency programmes at our locations,” said Vitesco head of operations, Hans-Jürgen Braun.

In order to achieve complete climate neutrality, Vitesco has covered product added value, but also activities which are not product-related, such as business travel, investment and leasing.

Added to this are CO2 emissions from the upstream supply chain and subsequent use of its products in the vehicle. These two phases each make up more than 40% of the company’s total emissions.

Vitesco Technologies is due to publish its first comprehensive sustainability report in the spring.

https://www.vitesco-technologies.com/en-us/press/22-01-12

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto