- Partnership will support BorgWarner in reaching Scope 3
emissions reduction goal
- Suppliers will be encouraged to use tool to track energy
usage
AUBURN
HILLS, Mich., March 6,
2024 /PRNewswire/ -- BorgWarner has entered into a
strategic partnership with Manufacture 2030, a decarbonization
software provider, to effectively measure and reduce its supply
chain carbon footprint and support its goal of reducing absolute
Scope 3 greenhouse gas (GHG) emissions 25% by 2030.
Through the agreement, BorgWarner will leverage M2030's
extensive expertise in CO2 reduction and unique software to
encourage its direct material suppliers to increase their emissions
reduction efforts. M2030 will work directly with BorgWarner's
supply base to gather energy usage data related to the
manufacturing of products such as electricity, natural gas and
more. That data will then be fed into an interactive dashboard
where emissions and energy reduction efforts can be tracked. The
tool also provides best practice sharing opportunities for pursuing
emissions reduction. By utilizing the tool, BorgWarner will promote
collaboration, accountability and engagement across its supply base
on emissions reduction.
"BorgWarner is greatly looking forward to working together with
M2030 and utilizing the decarbonization resources the company
offers. Reducing our carbon footprint in our supply base is a vital
step in creating a cleaner, more sustainable future for all," said
Volker Weng, Vice President of
BorgWarner Inc. and President and General Manager, BorgWarner
Drivetrain and Battery Systems, Environmental Sustainability Lead.
"Offering this software to our suppliers enables them to manage,
track and reduce their emissions, which in turn enables us to
reduce our Scope 3 emissions footprint."
Most recently, the SBTi validated BorgWarner's targets
to reduce absolute Scope 1 and 2 GHG emissions 85%, and absolute
Scope 3 GHG emissions 25% by 2030, both from a 2021 base year.
Another key lever in the company's pursuit of Scope 3 emissions
reduction is the company's Charging Forward accelerated
electrification strategy, which aims to advance its position as a
technology leader in eProducts and maximize its foundational
portfolio.
About BorgWarner
For more than 130 years, BorgWarner
has been a transformative global product leader bringing successful
mobility innovation to market. Today, we're accelerating the
world's transition to eMobility – to help build a cleaner,
healthier, safer future for all.
About Manufacture 2030
Manufacture 2030 provides
global brands, corporations and their small and medium-sized
suppliers with the data, tools and support they need to be certain
they can hit their GHG emissions reduction targets. Its unique
AI-powered software platform and support services help measure,
manage, and reduce emissions across global supply chains. For more
information, visit https://manufacture2030.com.
Forward Looking Statements: This release may contain
forward-looking statements as contemplated by the 1995 Private
Securities Litigation Reform Act that are based on management's
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other than statements of historical fact, contained or incorporated
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may occur in the future regarding our financial position, business
strategy and measures to implement that strategy, including changes
to operations, competitive strengths, goals, expansion and growth
of our business and operations, plans, references to future success
and other such matters, are forward-looking statements. Accounting
estimates, such as those described under the heading "Critical
Accounting Policies and Estimates" in Item 7 of our most recently
filed Annual Report on Form 10-K ("Form 10-K"), are inherently
forward-looking. All forward-looking statements are based on
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions and
expected future developments, as well as other factors we believe
are appropriate under the circumstances. Forward-looking statements
are not guarantees of performance, and the Company's actual results
may differ materially from those expressed, projected or implied in
or by the forward-looking statements.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this release.
Forward-looking statements are subject to risks and uncertainties,
many of which are difficult to predict and generally beyond our
control, that could cause actual results to differ materially from
those expressed, projected or implied in or by the forward-looking
statements. These risks and uncertainties, among others, include:
supply disruptions impacting us or our customers, such as the
current shortage of semiconductor chips that has impacted original
equipment manufacturer ("OEM") customers and their suppliers,
including us; commodity availability and pricing, and an inability
to achieve expected levels of recoverability in commercial
negotiations with customers concerning these costs; competitive
challenges from existing and new competitors including OEM
customers; the challenges associated with rapidly changing
technologies, particularly as they relate to electric vehicles, and
our ability to innovate in response; the difficulty in forecasting
demand for electric vehicles and our electric vehicles revenue
growth; disruptions in the global economy caused by wars, including
the wars in Ukraine and the
Middle East; the ability to
identify targets and consummate acquisitions on acceptable terms;
failure to realize the expected benefits of acquisitions on a
timely basis; the possibility that our recently-completed tax-free
spin-off of our former Fuel Systems and Aftermarket segments into a
separate publicly traded company will not achieve its intended
benefits for us; the failure to promptly and effectively integrate
acquired businesses; the potential for unknown or inestimable
liabilities relating to the acquired businesses; our dependence on
automotive and truck production which is highly cyclical and
subject to disruptions; our reliance on major OEM customers; the
extent, duration, and impact of the recent and any future strikes
involving some of our OEM customers and any actions such OEM
customers take in response; fluctuations in interest rates and
foreign currency exchange rates; our dependence on information
systems; the uncertainty of the global economic environment; the
outcome of existing or any future legal proceedings, including
litigation with respect to various claims, or governmental
investigations, including related litigation; future changes in
laws and regulations, including, by way of example, taxes and
tariffs, in the countries in which we operate; impacts from any
potential future acquisition or disposition transactions; and the
other risks noted in reports that we file with the Securities and
Exchange Commission, including Item 1A, "Risk Factors" in our most
recently filed Form 10-K and/or Quarterly Report on Form 10-Q. We
do not undertake any obligation to update or announce publicly any
updates to or revisions to any of the forward-looking statements in
this release to reflect any change in our expectations or any
change in events, conditions, circumstances, or assumptions
underlying the statements.
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SOURCE BorgWarner