Faurecia commits to net zero science based targets
Faurecia, one of the world’s leading automotive technology companies, has committed to set science-based targets to reach net-zero global emissions by no later than 2050. In line with the Science Based Targets initiative (SBTi) the Group aims to contribute to limit global warming to 1.5°C as aligned with the most ambitious aim of the Paris Agreement.
The new SBTi Net-Zero Standard, as released in October 2021, sets the basis for the next level of ambition to companies, beyond mid-term 1.5°C targets and provides a common, robust, science-based understanding of net-zero, requiring deep and complete decarbonization. For the first time, the SBTi Net-Zero Standard offers companies robust certification to demonstrate to consumers, investors and regulators that their net-zero targets are reducing emissions at the pace and scale required to keep global warming to 1.5°C in the long run.
Science clearly states that it is necessary to reduce the critical impacts of climate change on human society and nature, by reaching net-zero global emissions by 2050 at the latest in order to limit global warming to 1.5°C. As a world leading industrial player, we not only have this strong conviction that we need to act now, we also have the clear determination to join this net zero race with our ecosystem to achieve this urgent transformation.
With this new commitment to Science Based Targets, which occurs two years after Faurecia launched its CO₂ Neutrality program, the Group is continuing its long-time focus on the environment and climate change. Faurecia will be CO₂ neutral for its internal emissions by 2025 (scopes 1 & 2) and will reduce by 50% its scope 3 emissions by 2030, before reaching net zero by 2050 at the latest. To achieve this goal, the Group is partnering with the right experts to equip its 300 sites globally with efficient systems to reduce energy consumption, to establish on-site and off-site power purchase agreements across its many countries of operations.
The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the Worldwide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.