Faurecia selects Schneider Electric as its exclusive advisor for offsite renewable electricity purchasing
Faurecia, one of the world’s leading automotive technology companies, announced today that is has signed an exclusive advisory contract with Schneider Electric to procure offsite renewable electricity as part of its CO2 neutral program. Under the agreement, Faurecia will benefit from Schneider Electric’s support in the development and deployment of competitive processes for power purchase agreement sourcing to cover all Faurecia sites in Europe, North America, China and Brazil.
Faurecia intends to procure 1,200 GWh/y of offsite renewable electricity through development partners, representing 90% of its global consumption, in compliance with the most stringent industry standards for CO2 emissions calculation (including the WRI, CDP, SBTi, and RE100).
Procuring zero-carbon energy from renewable sources is essential to meeting our 2025 objective to become CO2 neutral for our direct emissions. As well as producing our own renewable energy on site wherever possible, these power purchase agreements will ensure that all our energy needs will be met with low- or zero-carbon options.
One year after starting our partnership with Faurecia, we are delighted to have the opportunity to grow our relationship under this new advisory service. Together, our organizations are driving industrial change for the better when it comes to energy efficiency and decarbonization.
By 2025, Faurecia aims to eliminate 920 ktCO2 and reach CO2 neutrality in its operations. This will be achieved by reducing the amount of energy used for electricity and heat through efficiency measures, by onsite renewable energy generation and through offsite power purchase agreements.
Faurecia wants to converge to CO2 neutrality by 2030 for scopes 1, 2 and 3 - excluding the use phase of its products - and is aiming for full CO2 neutrality – including the use phase of its products - by 2050.