Magna aims for carbon neutrality by 2030
April 27, 2021
Global automotive supplier Magna International Inc., headquartered in Aurora, Ontario, Canada, has announced its goal of achieving carbon neutrality in its European operations by 2025 and globally by 2030.
“While sustainability has long been ingrained in Magna’s culture, this decade will be our most decisive yet, as we accelerate our efforts to protect the planet for future generations,” stated Swamy Kotagiri, CEO. “We believe achieving carbon neutrality is both a social responsibility and a business imperative in the fight against climate change. This ambitious – and achievable – goal is rooted in a science-based approach that aligns with the Paris Climate Accord and places us among industry leaders in Europe and North America.”
In 2020, 12% of the company’s global energy buy was from renewable energy sources, and plans are in place to transition all operations globally to renewable energy sources. In addition, over 91% of total waste outputs last year from operations were recycled or otherwise diverted from landfills.
The company will also retain its focus on delivering products that help customers achieve their own sustainability goals, including reaching a zero-emissions future and improving fuel economy. Such products include a suite of e-powertrain solutions, active-aerodynamics, and lightweight structures and exterior components.
“Delivering a sustainable, safer and more accessible future for all who share the road and the world drives our business decisions and fuels our innovations. Importantly, we are working alongside our customers, suppliers and employees throughout this journey,” added Kotagiri.
Magna has also signed on as the founding sponsor of the XPrize Abundant Energy Alliance, a global coalition of public, private, nonprofit and academic leaders and organizations that are advancing progress toward a net-zero future.
