Emissions

Greenhouse gas emissions

Brembo's policy on climate change has included, since 2015, increasingly challenging objectives consistent with the commitments set by the United Nations during the COP21 in Paris in order to combat climate change effects. To win this challenge Brembo implemented a strategy structured into a series of actions aimed at achieving short-, medium- and long-term objectives to cut its greenhouse gas emissions.

In detail , the Group set an annual sustainability goal defined as a percentage of emissions avoided due to improvements, including efficient use of any form of energy and the use of renewable energy, compared with the previous year’s emission levels. In 2023, the target of reducing CO2eq emissions thanks to the improvement actions, compared to the previous year’s emissions, set at 20%, was reached and exceeded with a result of about 31.7%. This was achieved thanks to the energy efficiency projects implemented in all the Group's plants and the increase in the share of renewable energy purchased in Poland, Czech Republic, US, India and China.

In 2021, the Group set its medium- and long-term objectives, relating to all factories. The Group is committed to reducing its Scope 1, market-based Scope 2 and Scope 3 emissions by at least 4.2% year-on-year, with the ultimate goal of reaching Net Zero emissions by 2040. Objectives are inspired by the SBTi (Science-Based Targets initiative) Net Zero criteria for keeping the global temperature increase well below 1.5°C. Brembo intends to submit its targets for validation to the SBTi.

Future goals

Road Map to Net-Zero

To achieve Net-Zero emissions, Brembo has defined a Road Map that is subject to continuous refinement in accordance with technical, technological and market developments. The Road Map also includes the supply of renewable energy, both self-produced and purchased, to reach a share of 70% of consumption in 2025 and 100% in 2030.

Further areas of action are represented by the increase in the use of secondary raw materials within products, transport optimisation, energy efficiency and technological innovation.

Great commitment is expected in the involvement of the supply chain so that each supplier reduces its Scope 1 and Scope 2 emissions.

To ensure that the defined strategy is implemented and consistent with the objectives set, the Environment and Energy Area coordinates a working group that involves all the company functions concerned and which in different ways collaborate and carry out the improvement initiatives aimed at reducing CO2eq emissions.

Scope 1, market-based Scope 2 and Scope 3 emissions generated by Brembo’s manufacturing activities in 2023 amounted to slightly more than 2,476,000 tonnes of Co2eq. In 2023, Scope 1 and market-based 2 emissions, equal to 280,887 tonnes of CO2eq, decreased by 2.8% compared to 2022, when they amounted to 288,848 tonnes of CO2eq.

This result was achieved thanks to energy efficiency projects totalling 22,550 tons of CO2eq and to the purchase of renewable energy solutions equal to 543,571 tons of CO2eq. According to this classification, the most relevant share of Brembo's emissions is tied to the work of its suppliers that produce and transport machinery and components for Brembo.

Every year, Brembo subjects its GHG emissions inventory and related emissions calculation methodology to limited assurance by a third party. In particular, for 2023 the GHG emissions inventory and related emissions calculation methodology will be subject to limited assurance in early 2024 according to the criteria set out in the standard ISAE 3410, revised by Deloitte & Touche S.p.A.

In 2023, in view of ongoing improvement, Brembo reviewed its method to calculate several categories of Scope 3 emissions, as illustrated in greater detail in the notes in the table.