Europe, Cities & Urbanisation

Engineering giant pledges to be carbon neutral by 2020

Responsible Business | May 27, 2019

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Bosch, one of the world’s largest engineering companies, has said that it intends to become carbon neutral within its own operations by 2020. The company, which is active across the automotive, industrial processing, consumer goods and energy sectors, said that it will invest in renewable energy, energy efficiency and in carbon offset projects.

“We see climate action as our responsibility, and believe we have to act now,” chairman of Bosch’s board Volkmar Denner said. “Everyone has to contribute to climate action.”

The Intergovernmental Panel on Climate Change estimates that global carbon emissions need to fall by 45 per cent of 2010 levels by 2030 in order to avoid more than 1.5°C of global warming, a threshold level agreed by governments in the 2016 Paris Agreement. Achieving that target would require dramatic changes in how energy is generated and used, and major investments in mechanisms that would draw carbon down from the atmosphere, such as reforestation.

Manufacturing accounts for around a third of global carbon dioxide emissions. Bosch said that its emissions are around 3.3 million metric tonnes of carbon per year.

Bosch said that it has set a target of saving 1.7TWh of energy by 2030, investing €1 billion (US$1.1 billion) into energy efficiency techniques and technologies, from insulation and LED lighting to waste heat recycling. The company also aims to generate 400GWh of its energy needs from its own renewable sources, and has set aside €100 million to support its transition. The company will help to seed new renewable generation projects by signing long-term purchasing agreements with third party investors in solar parks and wind farms, and will invest in carbon offsets, including through the German government’s Alliance for Development and Climate.

In a statement, the company said that it hopes that other companies will follow its lead.

“Carbon neutrality is doable and, if pursued with the necessary determination, can be achieved quickly. Our investments benefit not only us at Bosch, but humankind in general as well,” Denner said.

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