Canada-Based Magna Commits to Attain a Net-Zero Goal by 2050
The company’s aim is to attain net-zero emissions status by 2050 and fulfill its Scope 1, 2 and 3 targets by 2030.
August 31, 2023. By EI News Network
The company’s aim is to attain net-zero emissions status by 2050 and fulfill its Scope 1, 2 and 3 targets by 2030.
Swamy Kotagiri, CEO of Magna, stated, “Magna has focused on creating a better world of mobility, and the company’s pursuit of net-zero emissions reflects this commitment.”
He further added, “To reach this ambitious target, we are addressing not only the emissions we produce within our own facilities but also those of our entire supply chain, while supporting the industry move to low-carbon mobility technology. By embracing sustainable practices, shifting to renewable energy sources, making our manufacturing processes more efficient and partnering with our customers in the transition to electric vehicles, we want to make a positive impact on the planet and future generations.”
In order to reach net-zero emissions, Magna will take a number of interim measures, such as switching to only renewable electricity by 2030 globally and by 2025 in the company's European operations. Magna has committed to reducing its scope 1 and scope 2 emissions by 42 percent and its scope 3 emissions by 25 percent, respectively, by 2030 as part of its net-zero strategy. Along with its net-zero aim, Magna has also submitted these short-term targets to the SBTi for confirmation.
With a goal of 20 percent energy intensity reduction by 2027, the company is on track to meet its promise in 2023 to lower global energy intensity by 10 percent in all manufacturing sites. Additionally, over the past two years, more than 30 Magna divisions have become carbon neutral.
please contact: contact@energetica-india.net.
Rahul Goenka
Director
ElectroRide Gears Up for Nationwide EV Rollout with Focus on Underserved Regions
Rohit Saboo
President and CEO
EV Bearings from NBC Redefining Standards in Automotive Industry
Aryaman Tandon
Managing Partner – Mobility Energy and Transportation
EV Market to Become a USD 45 Billion Opportunity by FY30
Vishal Gupta
Co-Founder and Chief Technical Officer
Maxvolt Energy Drives Innovation in Li-ion Battery Storage for EVs and Renewables
Sumit Kumar
Chief Strategy Officer
Skilled Apprentices: A Key to Higher ROI in Renewable Energy