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NewsMagna announces net-zero emissions goal by 2050 and 100% renewable electricity usage...

Magna announces net-zero emissions goal by 2050 and 100% renewable electricity usage by 2030.

Magna International outlines goals for achieving net-zero carbon emissions by 2050 and transitioning to 100% renewable electricity by 2030.

 

  • Magna International, a global automotive contract manufacturer, targets net-zero carbon emissions by 2050.

  • Magna commits to shifting all European operations to 100% renewable electricity by 2025 and achieving the same globally by 2030.


 

Magna International, a leading global automotive contract manufacturer, is steadfast in its commitment to environmental sustainability. The company, a significant player in the automotive industry with a vast international presence, has unveiled a comprehensive plan to address its carbon emissions and energy sources.

Magna International

Aligned with the goals outlined in the Paris Climate Agreement, Magna International has taken the initiative to submit its objectives for validation by the Science Based Targets initiative (SBTi). These objectives are aimed at achieving net-zero carbon emissions by 2050, as part of a larger effort to combat climate change. As a notable step toward this ultimate target, Magna has set interim milestones to be achieved by 2030.

LG Magna e-Powertrain | Photo: LG Magna e-Powertrain

Key aspects of Magna’s sustainability journey include:

  1. Global Emissions Reduction: Magna has set ambitious targets to reduce its carbon footprint. By 2030, the company aims to decrease approximately 42% of its Scope 1 and Scope 2 emissions, along with 35% of its Scope 3 emissions. These comprehensive reductions encompass not only the emissions generated by Magna’s own operations but also extend to its entire supply chain. This approach underscores the company’s commitment to driving change at multiple levels within the industry.
Fisker FI Pilot | Photo: Fisker

2. Renewable Electricity Transition: In addition to its emissions targets, Magna is dedicated to transforming its energy consumption. The company has pledged to transition all of its European operations to run on 100% renewable electricity by 2025. This pledge extends globally, with Magna aiming for all its operations worldwide to be powered by 100% renewable electricity by 2030. This substantial shift in energy sources demonstrates Magna’s dedication to embracing sustainable practices across its entire operational spectrum.

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3. Ongoing Progress and Collaborative Engagement: Magna acknowledges the complexity of achieving these goals. To this end, the company continues to make progress on its previous commitments. It remains on track to fulfill its promise of reducing global energy intensity by 10% across all manufacturing facilities this year. Looking ahead, Magna aims to achieve a 20% reduction by 2027.

2023 Fisker Ocean | Photo: Fisker

Magna’s commitment to environmental stewardship goes beyond internal efforts. The company actively engages in collaboration across the automotive industry and beyond. Initiatives like the Suppliers Partnership for the Environment (SP) facilitate collective action to drive sustainable practices throughout the automotive supply chain. As one of the industry’s significant stakeholders, Magna’s commitment serves as an example of how large-scale collaboration can shape a greener future.

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