World globe in the center of trees

Magna’s Most Ambitious Environmental Commitment

Hiking the wilderness along Lake Superior’s North Shore, trekking Mt. Everest Base Camp or kayaking with my dog Denali, a rescue mix named for North America’s tallest peak, fuels my love of the outdoors and my passion for conservation.

As a sustainability and decarbonization enthusiast, I am also proud to be part of Magna’s most ambitious environmental commitment to date: to achieve net-zero emissions by 2050, an important step in fighting the climate crisis. This latest effort is part of the Science Based Targets initiative (SBTi), a partnership that helps companies set reduction goals in line with climate science.

Our net-zero goal builds on initiatives already under way at the company. This year, we achieved our commitment to reduce our corporate energy intensity, meaning using less energy to produce a product, by 10% in all of our manufacturing facilities, with a target of 20% reduction by 2027. We have also pledged to use 100% renewable electricity at our facilities in Europe by 2025 and globally by 2030, and this will have us exceed our SBTi Scope 1 and 2 2030 near-term decarbonization commitments.

As a mobility technology company, this is the right thing to do from an environmental perspective for our world and future generations. It also is the right thing to do for our business. By alleviating the impacts of climate change, our business reduces risk and becomes more resilient.

Magna’s expanded sustainability effort comes during a summer season where we have seen unprecedented climate-related changes, from record-breaking temperatures to deadly floods and wildfire smoke across North American cities. Earth saw its hottest June on record, according to NASA’s global temperature analysis, increasing the chance that 2023 will be the hottest year on record. At Magna, we understand the urgency to step up and do everything we can to stem this global challenge.

We recognize that the fight against climate change requires collective action, which is why we are actively collaborating with our customers and partners, including 10,000 supplier companies, to conserve our natural resources. The spirit of cooperation extends beyond Magna, as we witness a genuine effort within the industry to identify challenges and collectively address them together.

Most importantly, Magna is filled with people who are committed to creating a sustainable world, at work and at home. This dedication to our planet is a reflection of the outdoor places that inspire every one of us.

Headshot - Ahmed ElGanzouri. Global Director, Sustainability and Energy

Ahmed ElGanzouri

Magna is taking a significant step forward in its commitment to sustainability and environmental stewardship by submitting net-zero emissions targets for validation by the Science Based Targets initiative (SBTi), the widely-accepted benchmark for decarbonization targets in line with the Paris Climate Agreement. The company’s goal is to achieve net-zero emissions by 2050, with SBTi near-term commitments and 100% renewable electricity by 2030.

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