Valeo

Valeo, headquartered in France and operating in the motor vehicles, trailers, and semi-trailers industry, reported total carbon emissions of approximately 45.2 billion kg CO2e in 2023. This included Scope 1 emissions of 186 million kg CO2e, Scope 2 emissions of 464 million kg CO2e, and Scope 3 emissions of approximately 44.7 billion kg CO2e. The majority of Scope 3 emissions were attributed to the use of sold products (36.2 billion kg CO2e) and purchased goods and services (8 billion kg CO2e).

Looking ahead to 2025, Valeo anticipates total emissions of approximately 39.4 billion kg CO2e, with around 400 million kg CO2e from Scope 1 and 2, and 39 billion kg CO2e from Scope 3.

Valeo is committed to reducing its environmental impact with several targets:

• Near-term targets (by 2030):
  • A 75% absolute reduction in Scope 1 and 2 GHG emissions compared to a 2019 baseline. These targets have been validated by the Science Based Targets initiative (SBTi) as aligned with a 1.5°C scenario.
  • A 15% absolute reduction in Scope 3 GHG emissions from purchased goods and services, and from the use of sold products, also compared to a 2019 baseline.
• Long-term targets (by 2050):
  • To achieve carbon neutrality across all its operating activities and its entire supply chain worldwide (Scopes 1, 2, and upstream Scope 3).
  • To achieve 100% carbon neutrality in its European operations, encompassing Scope 1, 2, and 3 emissions, including the end-use of its products.

Valeo had previously aimed to reduce its Scope 1 and 2 GHG emissions as a proportion of sales by 10% from a 2015 baseline by 2020, and by 8% between 2016 and 2020. The company also states an ambition to achieve net-zero emissions by 2050. All reduction targets are directly from Valeo SE.