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Magna International Sets Ambitious Climate Targets, Aims for Net-Zero Emissions by 2050

ESGMagna International Sets Ambitious Climate Targets, Aims for Net-Zero Emissions by 2050

Automotive supplier and mobility technology provider Magna International has announced a series of climate-focused commitments, including a target to achieve net-zero emissions by 2050 and 100% renewable electricity use globally by 2030. The company also aims to transition to 100% renewable electricity use in its European operations by 2025. Furthermore, Magna has set interim targets for 2030, which include reducing Scope 1 and 2 emissions by 42% and Scope 3 emissions by approximately 25%. The company has submitted these targets for validation by the Science Based Targets initiative (SBTi). Magna’s CEO emphasized the importance of addressing emissions across its supply chain and supporting the industry’s move to low-carbon mobility technology. The automotive sector is responsible for approximately 9% of global greenhouse gas emissions, making Magna’s efforts significant in the industry’s decarbonization journey.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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