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FORVIA, the world’s 7th largest automotive technology company combining Faurecia and HELLA, announces today that its joint CO2 neutrality roadmap was validated by the Science Based Target initiative (SBTi) on June 6, 2022. Together, Faurecia and HELLA will reach net zero emissions by 2045 – an objective corresponding to the most ambitious standard of SBTi. Only twenty companies worldwide have had their net zero commitments approved so far.
The targets cover:
Overall net-zero target: FORVIA commits to reach net-zero greenhouse gas (GHG) emissions across the value chain by 2045, from a 2019 base year.
Near-term targets: FORVIA commits to reduce absolute scope 1 and 2 GHG emissions 80% by 2025, from a 2019 base year. FORVIA also commits to reduce absolute scope 3 GHG emissions 45% by 2030, from a 2019 base year.
Long-term targets: FORVIA commits to reduce absolute scope 1, 2 and 3 GHG emissions 90% by 2045, from a 2019 base year.
This third target represents a 90% reduction in the emissions of Faurecia and HELLA production plants and products for their full lifecycle, “from cradle to grave”. The last 10% will be offset by removals, meaning CO2 from the atmosphere will be sequestrated in sustainable materials like plastics. FORVIA launched its Sustainable Materials division a year ago for this purpose.
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As released in October 2021, the SBTi Net-Zero Standard provides a common, science-based understanding of net-zero, requiring deep and complete decarbonization, applying to all sectors, anywhere in the world. It offers companies a 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 by 2050 at the latest.
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Energy (scopes 1 & 2):
Materials (scope 3):
Hydrogen:
A commitment to hydrogen as the energy of the future.
Sustainable finance
Governance
Commitments and best practices sharing