Forsee Power's Commitment to Sustainable Energy Solutions

Forsee Power Enhances Commitment to Sustainability

Forsee Power, the innovator in smart battery systems for sustainable electromobility, has made remarkable strides in achieving its carbon reduction goals. The Science Based Target Initiative (SBTi) has approved its ambitious plans aimed at significantly cutting carbon emissions, marking a key milestone in the company's journey toward sustainability.

This approval aligns with Forsee Power’s broader mission, which prioritizes decarbonizing commercial and industrial transportation. Since 2019, the company pledged to take crucial steps to mitigate its environmental footprint and has now set definitive targets recognized by the SBTi.

Approved Carbon Reduction Targets

Forsee Power’s near-term and long-term goals focus on substantial reductions in greenhouse gas (GHG) emissions. The SBTi has validated these science-based targets, confirming they meet the criteria designed to keep global temperature increases below 1.5 degrees Celsius.

Overall Net-Zero Commitment

The company aims to achieve net-zero GHG emissions across its entire value chain by 2050. This comprehensive approach underscores Forsee Power's dedication not only to meeting but exceeding sustainability benchmarks.

Near-Term and Long-Term Emission Reductions

In the near term, Forsee Power plans to cut absolute scope 1 and 2 GHG emissions by 50% by 2030, using 2022 as its base year. This proactive strategy includes a commitment to reducing scope 3 emissions by 51.6% per kilowatt-hour (kWh) during the same timeframe. Looking ahead, the company is set to further reduce scope 1 and 2 emissions by 90% by 2045 while achieving a remarkable 97% decrease in scope 3 emissions per kWh.

Recognition for Sustainability Efforts

Forsee Power's efforts have also been acknowledged by EcoVadis, a leading sustainability rating agency, which has renewed the company's Gold Medal status. This award places Forsee Power in the top 5% of rated companies within its sector, reflecting the high quality of its corporate social responsibility practices.

Assessment Highlights

In its latest assessment, Forsee Power scored an impressive 77 out of 100, a 5-point increase from the previous year, moving closer to the Platinum level. The evaluation analyzed various themes, including:

• Environment: 80/100
• Labor and Human Rights: 80/100
• Ethics: 70/100
• Sustainable Procurement: 70/100

These scores illustrate Forsee Power's holistic approach towards enhancing its operational sustainability and social responsibility.

Forsee Power's Vision for the Future

As a pivotal player in the transition to electric mobility, Forsee Power focuses on a wide range of commercial and industrial vehicles globally. The company's contributions are significant, as it not only supplies advanced battery solutions but also strives to facilitate the electrification of vehicles while minimizing their carbon impact.

Vice President of Corporate Affairs at Forsee Power, Sophie Tricaud, emphasizes the company's commitment with enthusiasm, stating, "The future of mobility is electric, and Forsee Power is a key player in the decarbonation of transport. The approval of our greenhouse gas emissions reduction targets by SBTi marks a crucial step in our strategy to address climate change efficiently."

About Forsee Power

Forsee Power specializes in smart battery systems for sustainable transport including light vehicles, buses, trucks, and trains. It operates extensively in Europe, Asia, and North America, delivering robust energy management systems. With over 4,000 buses and 140,000 light electric vehicles equipped with its batteries, Forsee Power stands out for its commitment to innovative solutions, financing options like battery leasing, and second-life applications for transport batteries. Employing around 750 individuals, the Group aims for continuous advancements in sustainable development.

Frequently Asked Questions

What is Forsee Power's main focus?

Forsee Power focuses on developing smart battery systems for sustainable electromobility, aiming to decarbonize transport solutions.

What recognition has Forsee Power received recently?

Forsee Power has received approval from the Science Based Target Initiative for its carbon reduction strategy and has renewed its Gold Medal status from EcoVadis.

When does Forsee Power aim to achieve net-zero emissions?

The company commits to achieving net-zero GHG emissions across its value chain by 2050.

What specific emissions reductions targets does Forsee Power have?

Forsee Power targets a 50% reduction in absolute scope 1 and 2 GHG emissions by 2030 and a 90% reduction by 2045.

Where does Forsee Power operate?

Forsee Power has a significant presence in Europe, Asia, and North America, focusing on diverse transportation sectors.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.