- BorgWarner Inc (NYSE:BWA) has committed to reducing its absolute Scope 3 emissions by at least 25% by 2031 from a 2021 baseline.
- The Scope 3 target, along with BorgWarner’s previously announced target to achieve 85% absolute Scope 1 and Scope 2 emissions reduction by 2030, were submitted for validation to the Science Based Target initiative (SBTi).
- The science-based targets align with Charging Forward, BorgWarner’s accelerated path to electrification that aims to achieve a net-zero carbon emissions future.
- Also Read: BorgWarner Acquires Switzerland-Based Engineering Services Provider Drivetek
- To meet the Scope 3 target, BorgWarner will focus on transitioning its product portfolio to electrification and furthering circular product development by increasing the content of recyclable and remanufactured material.
- The company will also ask its suppliers to develop a carbon-efficient supply base.
- Also Read: BorgWarner Invests $500M In Wolfspeed, Explores Deeper Collaboration
- Price Action: BWA shares are trading lower by 1.24% at $40.65 on the last check Thursday.
- Photo Via Wikimedia Commons
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Gainers
LogicMark, Inc. (NASDAQ: LGMK) shares jumped 76.1% to $0.2466 after the company announced financial results for the year ended 2022. The company reported FY22 revenue of $11.9 million.
