Despite the challenges of the current coronavirus pandemic, Bosch is continuing with its systematic pursuit of ambitious climate goals.
The German auto supplier and technology company announced last year that it would be the first globally operating industrial enterprise to become climate neutral by the end of 2020, at all 400 of its locations worldwide.
“We will achieve this goal,” CEO Dr. Volkmar Denner said yesterday at Bosch’s annual press conference. “At the end of 2019, we achieved carbon neutrality for all locations in Germany and as of today, we are 70% of the way to achieving this worldwide.:
To make carbon neutrality a reality, Bosch is investing in energy efficiency, increasing the proportion of renewables in its energy supply, buying in more green power and offsetting unavoidable carbon emissions.
“The share of carbon offsets will be significantly lower than planned in 2020, at just 25% instead of nearly 50%. In other words, we are making faster progress than we expected in improving the quality of the measures we take,” Denner said.
When it comes to climate action, Bosch is taking two new approaches to ensure its own efforts have a multiplier effect in the economy.
One goal is to make upstream and downstream activities along the value chain as climate neutral as possible, from purchased goods to use of products sold.
By 2030, the associated emissions (Scope 3) are expected to fall by 15%, or more than 50 million metric tons per year.
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To this end, Bosch has agreed on a target with the Science-Based Targets initiative, making Bosch the first automotive supplier to commit to a measurable target.
Moreover, the company plans to pool the knowledge of nearly 1,000 Bosch experts worldwide and experience from more than 1,000 energy-efficiency projects of its own in a new advisory company, called Bosch Climate Solutions.
Explaining this step, Denner said, “We want to make our experience available to other companies, to help them progress to carbon neutrality.”
“Climate action remains crucial for humanity’s survival. It costs money, but doing nothing will cost even more.”