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Magna (TSX:MG) commits to carbon neutrality across global operations by 2030
Source: Magna International Inc.
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  • Magna International (MG) has announced its intent to achieve carbon neutrality in its operations by 2025 in Europe and by 2030 globally
  • In 2020, 12% of Magna’s global energy buy was from renewable energy sources
  • The company remains focused on delivering products that help customers achieve their own sustainability goals
  • Magna is a mobility technology company with operations in 27 countries
  • Magna International (MG) is down 0.01 per cent and is currently trading at $120.05 per share

Magna International (MG) has announced its intent to achieve carbon neutrality in its operations by 2025 in Europe and by 2030 globally.

Magna CEO Swamy Kotagiri commented,

“We believe achieving carbon neutrality is both a social responsibility and a business imperative in the fight against climate change. This ambitious – and achievable – goal is rooted in a science-based approach that aligns with the Paris Climate Accord and places us among industry leaders in Europe and North America.”

In 2020, 12 per cent of Magna’s global energy buy was from renewable energy sources. Plans are in place to transition all operations globally to renewable energy sources.

At the same time, the company remains focused on delivering products that help customers achieve their own sustainability goals, including reaching a zero-emissions future and improving fuel economy.

Magna has also signed on as the founding sponsor of the XPrize Abundant Energy Alliance. The XPrize Alliance is a global coalition of public, private, nonprofit and academic leaders and organizations that are advancing progress toward a net-zero future.

“Delivering a sustainable, safer and more accessible future for all who share the road and the world drives our business decisions and fuels our innovations,” added Kotagiri.

Magna is a mobility technology company with more than 158,000 employees, 342 manufacturing operations and 91 product development, engineering and sales centres in 27 countries.

Magna International (MG) is down 0.01 per cent and is trading at $120.05 per share as of 12:23 pm ET. 

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