Car parts supplier Bosch said Thursday it plans to produce zero net carbon emissions "from 2020" and to spend two billion euros ($2.2 billion) on renewable electricity over the next decade.

"Our calculations show that it's possible, so we're doing it," Bosch chief executive Volkmar Denner said during the German group's annual press conference.

"From 2020, Bosch will no longer have a carbon footprint."

"Unavoidable" emissions will be compensated by investments in environmental projects, Denner said, while the group's operations will be made more energy efficient and it will buy more renewable electricity.

"Climate change isn't waiting, and we have to react more quickly to reach the objectives of the Paris Accord," he added.

Bosch said it will be able to halve the cost of the measures by saving almost one billion euros over the coming decade thanks to more efficient energy use.

The firm aims to reduce CO2 output from the steady levels seen in recent years by between one and two percent annually.

Also Thursday, privately-held Bosch shared some financial information about its performance in 2018, filling in details after a preliminary release in January.

The group's revenues crept up to 78.5 billion euros, while operating, or underlying profit climbed seven percent to 5.5 billion.

Bosses expect a tough 2019 around the world for the auto industry with falling production, especially in China.

But Bosch itself aims to "slightly increase" sales year-on-year, noting its performance in the first three months had been in line with the first quarter of 2018.

Related Links
Carbon Worlds - where graphite, diamond, amorphous, fullerenes meet

Tweet

Thanks for being here; We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor $5 Billed Once credit card or paypal		SpaceMediaNetwork Monthly Supporter $5 Billed Monthly paypal only

New Zealand unveils plan to go carbon neutral by 2050
Wellington (AFP) May 8, 2019
New Zealand introduced legislation Wednesday to make the South Pacific nation carbon neutral by 2050, although greenhouse gas emissions from the economically vital agricultural sector will not have to meet the commitment. Prime Minister Jacinda Ardern said the bill would help New Zealand contribute to a goal of limiting average global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) over pre-Industrial Revolution levels. "The government is today delivering landmark action on climate chang ... read more