Valmet Automotive has signed a public commitment letter to set science-based climate targets. The targets will be in line with the Science Based Targets Initiative, indicating how much and how quickly the company needs to reduce its greenhouse gas emissions to limit global warming from exceeding 1.5 °C aligned with the Paris Agreement.
The automotive sector is considered globally a main emitter of greenhouse gases. As a leading service provider to the automotive industry, Valmet Automotive is committed to accelerate the transformation to a low carbon society. For example, a third party verified our commitment to carbon neutrality as of January 1, 2022.
Valmet Automotive has prioritized climate actions for years. Now by signing the commitment letter, the company aligns its sustainability targets with the Science Based Targets requirements. Valmet Automotive’s climate protection activities focus on replacing fossil fuels with renewable energy, excluding offsets, and measures at critical points in the value chain, such as logistics.
– Meeting the high standards of the Science Based Targets Initiative is a further proof of Valmet Automotive’s ongoing and unwavering commitment to sustainability. Here we acknowledge our role in contributing to the future of our planet by minimizing risks of climate change and prove us as a leading strategic partner for OEMs, says Olaf Bongwald, CEO, Valmet Automotive.
Valmet Automotive will complement the commitment letter by developing science-based climate targets and by submitting them to the Science Based Targets Initiative organization for verification. Thus, Valmet Automotive will join more than 3,000 leading companies in climate action worldwide committed to limit global warming.
The Science Based Targets Initiative is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Science-based targets provide companies with a clearly defined path to reduce emissions in line with the Paris Agreement goals.
Mikael Mäki, Manager, Corporate Communications, Valmet Automotive
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The Valmet Automotive Group is a leading European manufacturer of electric vehicle battery systems and automotive kinematic systems (including electric vehicle charging flaps and active spoilers) for OEMs, as well as being one of the largest vehicle contract manufacturers in the world. In its strategic development, Valmet Automotive Group focuses on electromobility through the development and manufacturing of battery modules as well as packs for electrified vehicles. The activities in the group are organized in three business lines: Manufacturing, EV Systems and Roof & Kinematic Systems. Since its founding in 1968, Valmet Automotive has produced more than 1.8 million vehicles at its plant in Uusikaupunki, Finland. Valmet Automotive also operates two battery systems plants in Salo, Finland and Uusikaupunki, Finland and a third in Kirchardt, Germany. The company has locations in Finland, Germany, and Poland. Valmet Automotive’s largest shareholders are state-owned Finnish investment company Tesi and the Pontos Group, each with a stake of 38.46 %. 23.08 % is held by the Chinese Contemporary Amperex Technology Limited (CATL), the world leading manufacturer of battery cells for electric vehicles.