Munich – Knorr-Bremse, the global market leader for braking systems and other rail and commercial vehicle systems announced a renewed, ambitious climate strategy.
Knorr-Bremse will invest in energy efficiency and generation of renewable energy. In parallel the company will increase its purchase of renewable energy, green electricity products and certificates. With this the company will halve its CO2 emissions by 2030 in accordance with the goals of the Paris Climate Agreement and beyond this commits to climate-neutrality across all global operations from 2021 onwards.
Knorr-Bremse has renewed its commitment to ESG (Environmental, Social, Governance) excellence with an ambitious renewed climate strategy aimed at near-term climate neutrality.
“Knorr-Bremse recognizes climate change as one of the most pressing challenges of our time. As an internationally operating industrial company, Knorr-Bremse considers climate protection as a key corporate responsibility and aims to make a significant contribution to climate neutrality,” said Bernd Eulitz, CEO of Knorr-Bremse. “We have set the ambitious target of cutting our locations’ CO2 emissions by 50 percent by 2030 at the latest and beyond this of reaching climate neutrality as early as 2021. These targets are in line with the requirements derived from climate science to limit global warming to a maximum of 1.5°C and go beyond the goals of the Paris Climate Agreement.”
To achieve the decarbonization goal, Knorr-Bremse aims to halve the CO2 emissions generated by the energy consumption of its plants and offices around the world and by its vehicle fleet by 2030. This corresponds to an average reduction of 4.2 percent per year compared to the 2018 baseline of 143,000 metric tons of CO2.
Three levers to halve Scope 1 & 2 CO2 emissions
Knorr-Bremse will apply three levers to achieve a 50 percent reduction in CO2 emissions from its own operations (Scope 1) and from external energy sources (Scope 2).
First, the company will invest in energy efficiency measures and transition to lower-carbon fuels for heating and in its vehicle fleet.
Second, Knorr-Bremse will invest to increase the share of own generated renewable energy at its locations around the world.
Third, Knorr-Bremse will increase its purchasing of renewable energy through long-term power purchase agreements, green electricity products and certificates. The majority of Knorr-Bremse’s environmental investments are earmarked to be in energy efficiency and own generation of renewable energy.
The entire announcement can be read by clicking HERE.