Magna Commits to Carbon Neutrality in Global Operations by 2030
April 22 2021 - 8:00AM
Magna enters a new era in the company’s sustainability journey with
its announcement to achieve carbon neutrality in its operations by
2025 in Europe and by 2030 globally.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2ece7735-efbe-4175-abd1-c2beb7309fcb
“While sustainability has long been ingrained in Magna’s
culture, this decade will be our most decisive yet as we accelerate
our efforts to protect the planet for future generations,” said
Magna CEO Swamy Kotagiri. “We believe achieving carbon neutrality
is both a social responsibility and a business imperative in the
fight against climate change. This ambitious – and achievable –
goal is rooted in a science-based approach that aligns with the
Paris Climate Accord and places us among industry leaders in Europe
and North America.”
In 2020, 12% of Magna’s global energy buy was from renewable
energy sources, and plans are in place to transition all operations
globally to renewable energy sources. In addition, over 91% of
total waste outputs last year from operations were recycled or
otherwise diverted from landfills.
At the same time, the company remains focused on delivering
products that help customers achieve their own sustainability
goals, including reaching a zero-emissions future and improving
fuel economy. Such products include a suite of e-powertrain
solutions, active-aerodynamics, and lightweight structures and
exterior components.
“Delivering a sustainable, safer and more accessible future for
all who share the road and the world drives our business decisions
and fuels our innovations. Importantly, we are working alongside
our customers, suppliers and employees throughout this journey,”
added Kotagiri.
As further evidence of the company’s commitment, Magna has also
signed on as the founding sponsor of the XPrize Abundant Energy
Alliance, a global coalition of public, private, nonprofit and
academic leaders and organizations that are advancing progress
toward a net zero future.
Magna’s dedication to sustainability can been seen through the
creative and impactful efforts of its operations around the world,
and the company looks forward to accelerating progress in the
coming years.
TAGSCarbon neutrality, sustainability, Earth Day
INVESTOR CONTACTLouis Tonelli, Vice-President, Investor
Relations louis.tonelli@magna.com, 905.726.7035
MEDIA CONTACTTracy Fuerst, Vice President, Corporate
Communications & PRtracy.fuerst@magna.com, 248.761.7004
ABOUT MAGNAWe are a mobility technology company. We have more
than 158,000 entrepreneurial-minded employees and 342 manufacturing
operations and 91 product development, engineering and sales
centres in 27 countries. We have complete vehicle engineering and
contract manufacturing expertise, as well as product capabilities
that include body, chassis, exteriors, seating, powertrain, active
driver assistance, electronics, mechatronics, mirrors, lighting and
roof systems. Our common shares trade on the Toronto Stock Exchange
(MG) and the New York Stock Exchange (MGA). For further information
about Magna, visit www.magna.com.
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