11 NOV. 2024
HORSE net-zero emissions target receives Science Based Targets initiative (SBTi) approval
– HORSE has received Science Based Targets initiative (SBTi) approval for its greenhouse gas (GHG) reduction targets
– Targets include net-zero emissions across HORSE’s entire value chain by 2050
– Key 2030 targets*:
Reduce Scope 1 and 2 GHG emissions by 42%
Increase renewable electricity sourcing from 71% to 100%.
Reduce Scope 3 GHG emissions from the use of sold products by 25%
* using 2023 as the base year
– HORSE is a division of Horse Powertrain, a global leader in hybrid and combustion powertrain solutions across 17 plants and 5 R&D centres
HORSE, a division of Horse Powertrain and a leader in innovative and low emissions powertrain systems, has had its ambitious emissions target – to be net-zero emissions across the entire value chain by 2050 – approved by the Science Based Targets initiative (SBTi).
As part of its near-term objectives, HORSE has committed to reducing absolute Scope 1 and Scope 2 emissions by 42% by 2030.
In addressing Scope 3 emissions, HORSE has pledged to reduce GHG emissions from the use of its sold products by 25% by 2030.
These reductions will be achieved through various initiatives, including increasing low-carbon engine sales to 60% of total sales, purchasing 100% renewable electricity, using biomethane in production plants, and implementing energy efficiency measures, among other strategies.
These targets are aligned with HORSE’s broader sustainability strategy (ESG Plan 2030) of not only providing innovative solutions for markets transitioning towards more sustainable futures, but also being a transformation agent within the automotive industry towards decarbonisation.
Patrice Haettel, CEO of HORSE, said: “Achieving this approval from Science Based Targets initiative (SBTi) demonstrates just how seriously we are taking the sustainability of our business and our planet. We are committed to giving more back than we take and it’s why we will continue with our mission to develop and deliver innovative power solutions that support a decarbonised future. These targets are clear demonstration of our drive to create meaningful change within the automotive industry.”
Science Based Targets initiative (SBTi) is a global organisation developing standards and tools to create science-based targets to help companies identify and reduce greenhouse gas (GHG) emissions and future-proof business growth.
Targets are considered ‘science-based’ if they are in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement.