Valmet Automotive has signed a public commitment letter to set science-based climate targets. The targets will be in line with the Science Based Targets Initiative, indicating how much and how quickly the company needs to reduce its greenhouse gas emissions to limit global warming from exceeding 1.5 °C aligned with the Paris Agreement.
The automotive sector is considered globally a main emitter of greenhouse gases. As a leading service provider to the automotive industry, Valmet Automotive is committed to accelerate the transformation to a low carbon society. For example, a third party verified our commitment to carbon neutrality as of January 1, 2022.
Valmet Automotive has prioritized climate actions for years. Now by signing the commitment letter, the company aligns its sustainability targets with the Science Based Targets requirements. Valmet Automotive’s climate protection activities focus on replacing fossil fuels with renewable energy, excluding offsets, and measures at critical points in the value chain, such as logistics.
– Meeting the high standards of the Science Based Targets Initiative is a further proof of Valmet Automotive’s ongoing and unwavering commitment to sustainability. Here we acknowledge our role in contributing to the future of our planet by minimizing risks of climate change and prove us as a leading strategic partner for OEMs, says Olaf Bongwald, CEO, Valmet Automotive.
Valmet Automotive will complement the commitment letter by developing science-based climate targets and by submitting them to the Science Based Targets Initiative organization for verification. Thus, Valmet Automotive will join more than 3,000 leading companies in climate action worldwide committed to limit global warming.
The Science Based Targets Initiative is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Science-based targets provide companies with a clearly defined path to reduce emissions in line with the Paris Agreement goals.
SOURCE: Valmet Automotive
