Schaeffler Group to be climate neutral by 2040
The Schaeffler Group will be operating as a climate-neutral company from 2040. This objective covers the entire supply chain and is underpinned by mid-term sustainability targets. The Schaeffler Group is accelerating the pace of the Sustainability Roadmap it adopted in 2019.
The company’s own production facilities (Scope 1 and 2) will already be climate neutral from 2030, and by 2025 it aims to prevent as much as three-quarters of its production emissions. The emissions from intermediates and raw materials occurring in the supply chain (Scope 3 upstream) will be reduced by 25 percent by 2030. The Schaeffler Group aims to achieve climate neutrality in this area as well by 2040. The base year for all calculations is 2019. To achieve these targets, the company will focus on tangible reduction measures, and only unavoidable emissions will be neutralized by means of carbon offsetting.
Klaus Rosenfeld, Chief Executive Officer of Schaeffler AG, says: “Sustainability plays a key role in implementing our corporate strategy. The decarbonization of the Schaeffler Group by 2040 is a top priority for us. Through our defined targets and specific measures, we are doing our part to help achieve the objectives of the Paris Climate Agreement. In doing so we are strengthening our position as a preferred technology partner and supplier of sustainable solutions and products, for example in the electric mobility and renewable energy segments.”
The Schaeffler Group is pursuing a clear strategy to achieve its self-imposed targets and operate climate neutrally from 2040. Specific measures for divisions, regions and functions are being defined and implemented across the company, as Schaeffler pursues the course it embarked on some years ago. Effectively, the carbon intensity is now being included into the company-wide management model across the entire supply chain of the Schaeffler Group, allowing the effect on the climate of individual process steps to be recorded and managed. The integration of the sustainability targets into the compensation structures for top executives is also evidence of the company’s clear commitment to sustainability.
Since 2020, 100 percent of the electricity purchased for all production sites in Germany has come from renewable sources. This also allowed around 260,000 metric tons of CO2 to be avoided last year. By 2024, all Schaeffler sites worldwide will purchase electricity generated from 100 percent renewable sources. Cumulative energy efficiency gains of 100 gigawatt hours will also have been realized by 2024. This is roughly equivalent to the annual power consumption of 28,500 three-person households in Germany. In 2020, more than 100 measures had already resulted in annual savings of more than 27 gigawatt hours.