The Science Based Targets initiative has validated that the science-based greenhouse gas emissions reductions targets submitted by CIE Automotive conform with the SBTi Criteria and Recommendations. SBTi has classified the company’s scope 1 and 2 target ambition as in line with a 1.5°C trajectory.
In this sense, CIE Automotive commits to the following:
- Overall Net-Zero Target: CIE Automotive commits to reach net-zero greenhouse gas emissions across the value chain by 2050.
- Near-Term Targets: CIE Automotive commits to reduce absolute scope 1 and 2 GHG emissions 57.9% by 2033 from a 2021 base year. CIE Automotive commits to reduce absolute scope 3 GHG emissions 54.6% by 2033 from a 2021 base year.
- Long-Term Targets: CIE Automotive commits to reduce absolute scope 1, 2 and 3 GHG emissions 90% by 2050 from a 2021 base year.
The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. The SBTi develops standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. By 2024, 6,860 companies worldwide, have approved targets; while 3,627 companies have net-zero commitments.
In this context, CIE Automotive committed in 2022 to set targets and is now delivering on this commitment by joining the 235 companies in the Auto and components sector with targets approved by the SBTi. Of these, only 35 (including CIE Automotive) have targets aligned both with 1.5ºC and Net-Zero.
The validation of our targets by SBTi is a key step forward within the context of our overall commitment to the climate emergency. CIE Automotive wants to be pro-active and joins the voices emphasizing the urgency of action, encouraging all the different stakeholders to align with climate science by committing to science-based 1.5°C and net-zero targets too.
Learn more: https://sciencebasedtargets.org/net-zero.
