Autoliv's ambitious climate commitment approved by SBTi
Autoliv, Inc. (NYSE: ALV) announced its climate targets have been approved by the Science Based Targets initiative as of February 14, 2022. Originally, in June 2021, Autoliv committed to achieving carbon neutrality in its operations by 2030 and net-zero emissions across its supply chain by 2040. The company plans to reduce emissions by utilizing renewable electricity, improving energy efficiency, and developing low carbon products to support customer transitions to zero-emission vehicles. This aligns with ambitious goals to combat climate change.
- Approval of climate targets by Science Based Targets initiative demonstrates commitment to sustainability.
- Carbon neutrality in operations targeted by 2030 and net-zero emissions in supply chain by 2040.
- Plans to enhance renewable energy use and efficiency may improve operational performance.
- None.
STOCKHOLM, Feb. 14, 2022 /PRNewswire/ -- Autoliv, Inc. (NYSE: ALV) and (SSE: ALIV.sdb), the worldwide leader in automotive safety systems, today announces that its detailed climate targets have been approved by the Science Based Targets initiative.
In June 2021, Autoliv became the first automotive safety supplier to announce its commitment to become carbon neutral in its own operations by 2030 and furthermore aim for net-zero emissions across its supply chain by 2040. These commitments place Autoliv among the frontrunners in the broader group of automotive suppliers.
Autoliv's near-term emissions reductions have now been approved by the Science Based Targets initiative.
Autoliv will reduce its carbon emissions through use of renewable electricity in its own and supplier operations, improve energy and materials efficiency, adopt low carbon logistics and low carbon materials, and develop attractive low carbon product offerings to support its customers in their transformation to electrified, zero emission vehicles.
"Autoliv's vision of Saving More Lives is the guiding light in all we do. Sustainability is firmly rooted in our business strategy and, as a market leader in our field, our efforts are aligned with the broader societal agenda. As we are now turning our commitments into action, we are further encouraged by the Science Based Targets initiative, clarifying our contribution to a sustainable development of the automotive industry," said Mikael Bratt, President and CEO, Autoliv.
"We congratulate Autoliv on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement," said Alberto Carrillo Pineda, Managing Director, Science Based Targets at CDP, one of the Science Based Targets initiative partners. "By setting ambitious science-based targets grounded in climate science, Autoliv is taking action to prevent the most damaging effects of climate change."
More information about Autoliv's Sustainability and Climate commitment may be found at www.autoliv.com.
CONTACT:
Inquiries:
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Investors & Analysts: Anders Trapp, Tel +46 (0)8 587 206 71
Investors & Analysts: Henrik Kaar, Tel +46 (0)8 587 206 14
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SOURCE Autoliv
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