Valeo

Valeo, a French automotive manufacturer, has established ambitious climate commitments aiming for carbon neutrality by 2050 across its entire value chain. This includes emissions from suppliers, its own operations (Scopes 1 and 2), and the end-use of its products (Scope 3).

In terms of emissions reporting, Valeo disclosed approximately 45.2 billion kg CO2e for both 2022 and 2023. For 2023, Scope 3 emissions accounted for the significant majority, with the use of sold products contributing about 36.2 billion kg CO2e and purchased goods and services contributing approximately 8 billion kg CO2e. Scope 1 and 2 emissions for 2023 totalled around 400 million kg CO2e.

Valeo has set a near-term target to reduce its Scope 1 and 2 emissions by 75% by 2030, compared to a 2019 baseline. This target is validated by the Science Based Targets initiative (SBTi) as aligned with a 1.5°C warming scenario. Additionally, Valeo aims to reduce its upstream (supply chain) and downstream (product use) Scope 3 emissions by 15% in absolute terms by 2030, also against the 2019 baseline. The company also has a commitment to reduce net Scope 3 emissions by 15% by 2035 from a 2018 baseline. Valeo is also committed to achieving carbon neutrality in its operations in Europe (Scopes 1, 2, and 3, including product end-use) by 2050.