Michelin intends to expand its hydrogen fuel cell operations this decade.
It has formed Symbio, a joint venture with French automaker Faurecia, with the aim of making it a “world leader” in the region.
“While we will remain true to our core mission, we plan to significantly alter the Group’s brand by 2030 by extending to new high-value activities around and beyond tires.”Michelin Group CEO Florent Menegaux.
Michelin’s strategy for the ‘earth’ pillar includes a target of halving Scope 1 (direct) and Scope 2 (power-related) emissions, as well as Scope 3 (indirect) emissions from transportation, by 2030, compared to a 2010 baseline.
The company will concentrate on obtaining renewable resources and raw materials that are recycled, renewable, or certified as sustainable. Michelin Group claims that by 2050, it would have achieved carbon neutrality and used 100 percent recycled raw materials.