Lear Joins Climate Group's RE100 Initiative, Committing to 100% Renewable Electricity for its Global Sites by 2030

Rhea-AI Summary

Lear Corporation (NYSE: LEA), a leader in automotive technology, has joined Climate Group's RE100 initiative. This global effort commits over 370 companies to source 100% of their electricity from renewable sources. Lear aims to achieve this goal for all its global sites by 2030, with current operations in Germany, Poland, and the UK already meeting this target. The company utilizes various renewable methods tailored to each location. Lear's focus reflects its dedication to sustainability and energy efficiency, aiming for a carbon-neutral future.

Positive

• Joined Climate Group's RE100 initiative, enhancing corporate sustainability image.
• Aims for 100% renewable energy for all global operations by 2030.
• Current operations in Germany, Poland, and the UK already meet renewable goals.
• Six operational solar installations globally, with plans for more.

Negative

• None.

SOUTHFIELD, Mich., Aug. 3, 2022 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced it has joined Climate Group's RE100, a global renewable electricity initiative that includes over 370 major companies.

RE100 members commit to sourcing 100% of the electricity used across their global operations with electricity produced from renewable sources.

By integrating its Energy Efficiency Playbook and renewable energy strategy across the company, Lear plans to achieve 100% renewable energy for electric power consumed at its global sites by 2030.

Lear's operations in Germany, Poland and the United Kingdom currently meet the goal. In addition, the company is operating six on-site solar installations in Europe, South America, and Asia, with a seventh installation planned to be announced later this year.

Lear will use a combination of methods to procure and generate renewable electricity for its remaining global sites. The type of power source will depend on geographical location, applicable legislation and government regulations. 

"Lear's strategy, aligned with RE100 and the United Nations' Sustainable Development Goals, illustrates our commitment to industry collaboration and building a more sustainable global economy," said Lear Vice President of Renewable Energy and Sustainability Jozef Chrzanowski. "We are excited to become a member of RE100 and take another step towards a carbon neutral future."

"Lear's commitment to 100% renewable electricity globally by 2030 demonstrates its leadership in energy transition," said the Director of Energy at Climate Group Sam Kimmins. "Together, our RE100 members represent a powerful force for positive change, and we encourage all large-scale businesses to join us."

RE100 is focused on accelerating change towards zero carbon grids by 2040.

To learn more about Lear's Climate Goals and sustainability strategy see our 2021 sustainability report here.

About Lear Corporation

Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Lear's diverse team of talented employees in 38 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 186 on the Fortune 500. Further information about Lear is available at lear.com or on Twitter @LearCorporation

About RE100

RE100 is a global initiative bringing together the world's most influential businesses committed to 100% renewable electricity. Led by Climate Group, in partnership with CDP, our mission is to drive change towards 100% renewable grids, both through the direct investments of our members, and by working with policymakers to accelerate the transition to a clean economy. The initiative has over 370 members, ranging from household brands to critical infrastructure and heavy industry suppliers. With a total revenue of over US$6.6 trillion, our members represent 1.5% of global electricity consumption, an annual electricity demand higher than that of the UK.

 

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SOURCE Lear Corporation

FAQ

What is Lear Corporation's commitment to renewable energy through RE100?

Lear Corporation has committed to sourcing 100% of its electricity from renewable sources globally by 2030 as part of the RE100 initiative.

What locations currently meet Lear's renewable energy goals?

Lear's operations in Germany, Poland, and the United Kingdom currently meet the goal of 100% renewable energy.

How many companies are involved in the RE100 initiative?

The RE100 initiative includes over 370 major companies dedicated to sourcing 100% renewable electricity.

What is Lear Corporation's strategy for achieving renewable energy targets?

Lear plans to use a combination of procurement and generation methods tailored to geographical and regulatory conditions to achieve its renewable energy targets.

What role does Lear Corporation play in the automotive industry?

Lear Corporation is a global automotive technology leader focused on Seating and E-Systems.