Geely bares 2045 carbon reduction, carbon neutrality targets

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Geely Automobile Holdings Limited revealed its 2045 carbon reduction target and carbon neutrality target to further its plans to become an Environmental, Social, and Governance (ESG) leader in China’s automotive industry.

KEY TAKEAWAYS

  • By what percent does Geely plan to reduce life cycle carbon emissions per vehicle by 2025?

    Geely plans to reduce life cycle carbon emissions per vehicle by more than 25 percent by 2025.
  • What areas of Geely's business will be improved to help the company become carbon neutral by 2045?

    Geely said that it will apply measures in its supply chain, manufacturing, and vehicle use.
  • What measures will Geely implement to achieve its 2045 carbon neutrality goals?

    Per the Chinese auto firm, it will promote the use of renewable electricity and recycled raw materials in the supply chain, adopt zero-emission and more cost-effective photovoltaic power in production plants, and increase the proportion of new energy vehicle sales.
  • geely-auto-logo

    The firm has published its 2021 ESG report introducing in detail Geely Auto’s practices and plans on ESG issues such as climate change, environmental protection, corporate governance, customer interests, sustainable supply chain, and employee rights. With the year 2020 as a baseline, the Chinese automotive brand looks to reduce life cycle carbon emissions per vehicle by more than 25 percent by 2025 and commits to achieving carbon neutrality by 2045.

    To this end, Geely will implement a series of carbon reduction measures in its supply chain, manufacturing, and vehicle use. The automaker’s steps will involve promoting the use of renewable electricity and recycled raw materials in the supply chain; adopting zero-emission and more cost-effective photovoltaic power in production plants; increasing the proportion of new energy vehicle sales.

    Geely “is the first Chinese passenger car company to commit to complying with the Science Based Targets Initiative (SBTi), and will publicly announce the next phase’s carbon reduction targets after these targets are submitted to and approved by SBTi in the future,” Geely said in a press release.

    The Hong Kong-based company has also participated in the “Business Ambition for 1.5C” led by SBTi and other organizations and the “Race to Zero” campaign led by the United Nations.

    Geely has also published its “Sustainable Finance Framework” in May 2022, under which it can issue green, sustainability bonds, and loans, at lower financing costs in the future to fulfill Geely Auto’s commitment to sustainable development.

    Photos from Geely

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