Magna, a Canadian parts manufacturer for automakers, embracing the global call for environmental responsibility and ambition to reach net-zero emissions by 2050. To solidify this commitment, the company seeks validation from the Science Based Targets initiative (SBTi) – the global benchmark for decarbonization aligned with the Paris Climate Agreement. Alongside this, the firm pledges to realize its immediate Scope 1, 2, and 3 emissions milestones by 2030.
Magna CEO Swamy Kotagiri encapsulates this transformative vision, stating, “Magna has focused on creating a better world of mobility, and the company’s pursuit of net-zero emissions reflects this commitment. To reach this ambitious target, we are addressing not only the emissions we produce within our own facilities but also those of our entire supply chain while supporting the industry’s move to low-carbon mobility technology. By embracing sustainable practices, shifting to renewable energy sources, making our manufacturing processes more efficient, and partnering with our customers in the transition to electric vehicles, we want to make a positive impact on the planet and future generations.”
Key to Magna’s net-zero strategy are definitive milestones: a transition to 100% renewable electricity for European operations by 2025, with a global adoption by 2030. The company’s near-term focus involves curtailing approximately 42% of its scope 1 and 2 emissions and about 25% of its scope 3 emissions by 2030. Both these near-term goals and the broader net-zero ambition have been presented to the SBTi for validation.
Recognizing that sustainable mobility necessitates a communal effort, Magna emphasizes the need for expansive synergy across the sector. This synergy involves the combined vigor of employees, suppliers, consumers, and partners to effectuate their shared vision on an impressive scale.
Highlighting the collective momentum, Ahmed ElGanzouri, Global Director of Sustainability and Energy at Magna, observes, “We know we can’t fight climate change alone, which is why we are working with our customers and partners, including 10,000 supplier companies, to optimize our natural resources. Beyond Magna, I see a true cooperative spirit across the industry to identify the challenges and address them together.”
Magna’s proactive stance encompasses active collaborations with globally influential organizations and consortia. Noteworthy among these is the Suppliers Partnership for the Environment (SP), a dynamic consortium catalyzing innovation within the global automotive supply chain by connecting automakers, suppliers, the U.S. EPA, and global governmental entities.
Kellen Mahoney, SP Director, comments on the trajectory, suggesting, “Collaboration is a key driving force that is propelling the automotive industry towards a sustainable future. Magna’s unwavering commitment and dedication to creating a greener planet is not only commendable but, as one of the world’s largest automotive suppliers, presents an opportunity for even greater collaboration to help shape a future where sustainable practices become the industry standard.”
Internally, Magna demonstrates its commitment by advancing toward previously set sustainability markers. By 2023, they anticipate achieving their goal of diminishing global energy intensity by 10% across manufacturing locales, with an eye on a further 20% reduction by 2027. Remarkably, over the past two years, more than 30 Magna divisions have attained carbon neutrality – a testament to their unwavering eco-conscious ethos.
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