Bmw Paris Agreement

In an interview with journalists in Munich, CEO Oliver Zipse said BMW wanted to reduce CO2 emissions by millions of tonnes a year by 2030 as part of its “very clear commitment” to the Paris climate agreement. BMW Group`s strategy is therefore much more ambitious than the UN agreement to limit global warming to two degrees. The implementation of a detailed 10-year plan setting interim targets for each year up to 2030 has been developed. “We will report annually on our progress and test ourselves against those goals. The compensation of our board of directors and management will also be linked to this,” said Mr. Zipse. Whether or not annual targets are met is published in integrated reports. Starting in 2021, these annual updates on sustainable development goals as well as financial figures and information on overall business developments will be presented in a single document. As a result, BMW Group`s sustainable business is further examined by external and independent auditors. “We are going to have a difficult autumn,” he warned.

The BMW Group places sustainability and resource efficiency at the heart of the company`s strategic direction. BMW AG Chairman Oliver Zipse gave the first details on this strategic direction and outlined the company`s objectives for the 2030 phase. The BMW Group is built on a solid foundation: in recent years and decades, the company has always set sustainability standards. The principle of continuous improvement will remain at the heart of the strategy to reduce CO2 emissions and improve resource efficiency. Reducing CO2 emissions is one of the priorities of the sustainable development strategy. Despite the current challenges of the coronavirus pandemic, the BMW Group still intends to maintain its CO2 emissions target for 2021. The milestones were set years ago, it must now meet its ambitious CO2 emission targets for Europe this year and next and, by 2020, it will achieve a significant reduction in CO2 emissions of around 20% in the EU compared to 2019. Zipse said the group plans to sell seven million electric or hybrid vehicles by 2030, up from 500,000 vehicles sold by the end of 2019. BMW CEO Oliver Zipse said achieving the new climate targets would require BMW to “anchor sustainability in everything from administration to procurement to development and production.”