Car parts supplier Bosch plans to go carbon neutral

In the wake drastic climate change in the world, countries are coming up with means and way to curb the high rate of global warming in diverse ways.

First is ensuring that there is enough vegetation cover where the recommended percentage in 10% which is at the moment at a very alarming rate.

The other area among many others where global warming is being contributed at a very high rate is on the automobile sector where vehicles are emitting a lot of gas and releasing a lot of gas into the air.

Gracefully, some companies are coming up with technology to the manufacturing of automobile with less gas emitting automobiles.

Car parts supplier Bosch said 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 per cent 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 per cent 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.

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