Veoneer sets ambitious climate targets for a sustainable future

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Nov 18, 2021, 03:04 ET

STOCKHOLM, Nov. 18, 2021 /PRNewswire/ -- Besides its overall goal to support halving the number of global deaths and injuries from road traffic accidents, the automotive technology company Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), announces ambitious carbon emission targets for a more sustainable future.

Veoneer's portfolio of technologies supports the Sustainable Development Goal #3 — halving the number of global deaths and injuries from road traffic accidents. Traffic safety is, together with the climate challenge, two of the global challenges where the automotive industry has a responsibility to act for a sustainable future.

Veoneer's Board of Directors has set ambitious targets related to the climate. The company acts in three steps along its' entire value chain:

Carbon neutral in own operations by 2030 (own manufacturing and tech centers, including Arriver)
Carbon neutral products by 2039 (from sourcing to disposal)
Carbon neutral company by 2040

Today, 67% of the electricity consumption in Veoneer's manufacturing facilities is fossil free. Front-runners are the manufacturing facilities in Sweden (100% fossil free), followed by Canada (93% fossil free) and France (92% fossil free).

"Veoneer's ambitious climate-related targets will strengthen our customers' ambitions in reducing their supply chain emissions," says Jan Carlson, Chairman, President and CEO of Veoneer.

For more information please contact:

Thomas Jönsson, EVP Communications & IR,

[email protected], tel +46 (0)8 527 762 27

Veoneer, Inc. is a worldwide leader in automotive technology. Our purpose is to create trust in mobility. We design, develop, and manufacture state-of-the-art software, hardware and systems for occupant protection, advanced driving assistance systems, and collaborative and automated driving to OEMs globally. Headquartered in Stockholm, Sweden, Veoneer has 7,500 employees in 11 countries. In 2020, sales amounted to $1.37 billion. The Company is building on a heritage of close to 70 years of automotive safety development. In 2018, Veoneer became an independent, publicly traded company listed on the New York Stock Exchange (NYSE: VNE) and on the Nasdaq Stockholm (SSE: VNE SDB).

Safe Harbor Statement: This release contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Veoneer, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and/or data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any forward-looking statements in light of new information or future events, except as required by law.

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SOURCE Veoneer