BorgWarner Partners with Manufacture 2030 to Reduce Supply Chain Emissions
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 current outlook, expectations, estimates and projections. Words such as "anticipates," "believes," "continues," "could," "designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal," "guidance," "initiative," "intends," "may," "outlook," "plans," "potential," "predicts," "project," "pursue," "seek," "should ," "target," "when," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact, contained or incorporated by reference in this release that we expect or anticipate will or 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/borgwarner-partners-with-manufacture-2030-to-reduce-supply-chain-emissions-302081467.html
SOURCE BorgWarner
