Dana Accelerates Greenhouse Gas Emissions Reduction and Commits to Setting Science-Based Targets

Rhea-AI Summary

Dana Incorporated (NYSE: DAN) has announced it will accelerate its efforts to reduce Scope 1 and 2 greenhouse gas (GHG) emissions by at least 50% by 2030, advancing its original 2035 target. This initiative will decrease over 300,000 metric tons of carbon dioxide emissions annually. The company signed a commitment letter with the Science Based Target initiative (SBTi) to establish future emissions targets. Dana attributes this acceleration to advancements in technology and operational efficiencies, positioning itself as a leader in sustainability within the mobility industry.

Positive

• Accelerated GHG emissions reduction target to 50% by 2030, ahead of 2035 goal.
• Commitment to eliminate over 300,000 metric tons of CO2 emissions annually.
• Collaboration with SBTi to set ambitious future emissions targets.
• Enhancements in technology and operational efficiency contributing to sustainability.

Negative

• None.

MAUMEE, Ohio, July 12, 2021 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today it will accelerate its plans to reduce Scope 1 and 2 greenhouse gas (GHG) emissions by at least 50 percent by 2030, ahead of its original target of 2035 that was announced in October 2020.  The company has also signed a commitment letter with the Science Based Target initiative (SBTi) to help set the company's future emissions targets.

Dana's GHG emissions target for 2030 brings forward the company's commitment to reduce more than 300,000 metric tons of carbon dioxide emissions annually.

"The ability to significantly accelerate our emissions reduction target is a result of our team's commitment to developing new technologies, delivering innovative products, and driving operational efficiencies," said James Kamsickas, Dana chairman and CEO. "The mobility industry is positioned to not only deliver products that are designed to reduce emissions during operation, but also to manufacture vehicle systems using business practices that further advance a greener world.  We believe that leading the way in sustainability is critical to supporting our customers and directly aligns with our leadership in electrification."

The SBTi is a partnership between the Carbon Disclosure Project, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature. It focuses on partnering with companies to help guide emission reduction initiatives using science-based targets.

"As we continue on our sustainability journey, collaborating with organizations like SBTi will support us as we establish ambitious targets and identify key areas where we can further drive sustainability across our operations," said Doug Liedberg, chief compliance and sustainability officer for Dana Incorporated.

To learn more about Dana's focus on sustainability, visit: www.dana.com/sustainability.

About Dana Incorporated
Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions for all mobility markets across the globe.  The company's conventional and clean-energy solutions support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions.

Based in Maumee, Ohio, USA, the company reported sales of $7.1 billion in 2020 with 38,000 associates in 33 countries across six continents.  Founded in 1904, Dana was named one of "America's Most Responsible Companies 2021" by Newsweek for its emphasis on sustainability and social responsibility.  The company is driven by a high-performance culture that focuses on its people, which has earned it global recognition as a top employer, including "World's Best Employer" from Forbes magazine.  Learn more at dana.com.

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SOURCE Dana Incorporated

FAQ

What is Dana's new greenhouse gas emissions reduction target?

Dana has accelerated its GHG emissions reduction target to at least 50% by 2030.

How many metric tons of CO2 emissions will Dana reduce annually?

Dana aims to reduce over 300,000 metric tons of CO2 emissions annually.

What initiative has Dana signed to help establish future emissions targets?

Dana has committed to the Science Based Target initiative (SBTi).

When did Dana originally announce its emissions reduction goal?

Dana's original emissions reduction goal was announced in October 2020.