Dana Accelerates Greenhouse Gas Emissions Reduction and Commits to Setting Science-Based Targets
Dana Incorporated (NYSE: DAN) announced today it will accelerate its plans to reduce Scope 1 and 2 greenhouse gas (GHG) emissions by at least 50 percent by 2030, ahead of its original target of 2035 that was announced in October 2020. The company has also signed a commitment letter with the Science Based Target initiative (SBTi) to help set the company's future emissions targets.
Dana's GHG emissions target for 2030 brings forward the company's commitment to reduce more than 300,000 metric tons of carbon dioxide emissions annually.
"The ability to significantly accelerate our emissions reduction target is a result of our team's commitment to developing new technologies, delivering innovative products, and driving operational efficiencies," said James Kamsickas, Dana chairman and CEO. "The mobility industry is positioned to not only deliver products that are designed to reduce emissions during operation, but also to manufacture vehicle systems using business practices that further advance a greener world. We believe that leading the way in sustainability is critical to supporting our customers and directly aligns with our leadership in electrification."
The SBTi is a partnership between the Carbon Disclosure Project, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature. It focuses on partnering with companies to help guide emission reduction initiatives using science-based targets.
"As we continue on our sustainability journey, collaborating with organizations like SBTi will support us as we establish ambitious targets and identify key areas where we can further drive sustainability across our operations," said Doug Liedberg, chief compliance and sustainability officer for Dana Incorporated.