Faurecia selects Schneider Electric as its exclusive advisor for offsite renewable electricity purchasing

Faurecia, one of the world's leading automotive technology companies, announced today that is has signed an exclusive advisory contract with Schneider Electric to procure offsite renewable electricity as part of its CO₂ neutral program. Under the agreement, Faurecia will benefit from Schneider Electric's support in the development and deployment of competitive processes for power purchase agreement sourcing to cover all Faurecia sites in Europe, North America, China and Brazil.

Faurecia intends to procure 1,200 MWh/y of offsite renewable electricity through development partners, representing 90% of its global consumption, in compliance with the most stringent industry standards for CO₂ emissions calculation (including the WRI, CDP, SBTi, and RE100).

By 2025, Faurecia aims to eliminate 920 ktCO₂ and reach CO₂ neutrality in its operations. This will be achieved by reducing the amount of energy used for electricity and heat through efficiency measures, by onsite renewable energy generation and through offsite power purchase agreements.

Faurecia wants to converge to CO₂ neutrality by 2030 for scopes 1, 2 and 3 - excluding the use phase of its products - and is aiming for full CO₂ neutrality - including the use phase of its products - by 2050.