Forsee Power’s Carbon Reduction Trajectory Approved by the SBTi and Renewal of Gold Medal by EcoVadis

18 Dec 2024 17:45 CET

Regulatory News:

Forsee Power (FR0014005SB3 – FORSE), the expert in smart battery systems for sustainable electromobility, is proud to announce that the Science Based Target Initiative (SBTi) approved its trajectory to reduce carbon emissions. In the meantime, the Group receives the renewal of its Gold Medal by rating agency EcoVadis.

These two milestones reinforce Forsee Power’s ambition to lead ESG practices in the battery industry.

SBTi approves Forsee Power’s near-term and net-zero targets

Forsee Power’s mission is to decarbonize commercial and industrial transport. In addition to the company’s purpose, Forsee Power has committed to reducing CO2 emissions as early as 2019 and in 2023 pledged to submit science-based reduction to SBTi.

The Science Based Targets initiative has now validated that the science-based greenhouse gas emissions reductions targets submitted by Forsee Power conform with the SBTi Criteria and Recommendations. SBTi has classified Forsee Power’s scope 1 and 2 target ambition as in line with a 1.5°C trajectory.

Overall Net-Zero Target

• Forsee Power commits to achieving net-zero GHG emissions across the value chain by 2050.

Near-Term Targets

• Forsee Power is committed to reducing absolute scope 1 and 2 GHG emissions by 50% by 2030 from a 2022 base year.
• Forsee Power is also committed to reducing scope 3 GHG emissions by 51.6% per kWh within the same timeframe.

Long-Term Targets

• Forsee Power is committed to reducing absolute scope 1 and 2 GHG emissions by 90% by 2045 from a 2022 base year.
• Forsee Power is also committed to reducing scope 3 GHG emissions 97% per kWh within the same timeframe.

Forsee Power renews Gold Medal with EcoVadis, in the top 5% of the rated companies in its sector

EcoVadis assesses the quality of a company's CSR system through the study of its policies, actions and performance. This year, the Group achieves an overall score of 77/100, up 5 points compared to last year and getting closer to Platinum level. The assessment covers four themes for which Forsee Power obtained the following results:

- Environment: 80/100

- Labor and human rights: 80/100

- Ethics: 70/100

- Sustainable procurement: 70/100

Thus, Forsee Power renews its Gold Medal for the next 12 months.

“The future of mobility is electric and Forsee Power is a key player in the decarbonation of transport, powering a wide range of commercial and industrial vehicles globally. Vehicle manufacturers and operators are looking to simplify and accelerate the electrification of their applications. They also expect the lowest carbon footprint for their products. Since 2019, we have been committing to lower our environmental footprint and the approval of our science-based greenhouse gas emissions reductions targets by SBTi is an important step in our strategy to contribute to the mitigation of climate change. Our ESG performance was also rewarded by EcoVadis as we renew our Gold Medal, highlighting the progress made by all Forsee Power employees everywhere we operate,” explained Sophie Tricaud, Vice President Corporate Affairs at Forsee Power.

About Forsee Power

Forsee Power is an industrial group specializing in smart battery systems for sustainable electric transport (light vehicles, off-highway vehicles, buses, trucks, and trains). A major player in Europe, Asia and North America, the Group designs, assembles, and supplies energy management systems based on cells that are among the most robust in the market and provides installation, commissioning, and maintenance on site and remotely. More than 4,000 buses and 140,000 LEV have been equipped with Forsee Power’s batteries. The Group also offers financing solutions (battery leasing) and second-life solutions for transport batteries. Forsee Power and its 750 employees are committed to sustainable development and the Group has obtained the Gold medal from leading sustainability rating agency EcoVadis. For more information: www.forseepower.com | @ForseePower

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Forsee Power
Sophie Tricaud
VP Corporate affairs and Sustainability
investors@forseepower.com

NewCap
Thomas Grojean
Jérémy Digel
Investor Relations
forseepower@newcap.eu
+33 (0)1 44 71 94 94

NewCap
Nicolas Merigeau
Media Relations
forseepower@newcap.eu
+33 (0)1 44 71 94 98