Schaeffler continues decarbonization journey and plans to achieve complete climate neutrality by 2024 and aims to achieve climate neutrality in its production processes by 2030.
A goal for which the choice of materials, particularly steel, is key: every day the company processes as much steel as the Eiffel Tower, or more than 7,000 tons.
That is why Schaeffler has increased its stake in H2 Green Steel, the steel supplier, by investing another 65 million euros, a significant increase that brings its total stake to 100 million euros.
This is the highest share Schaeffler has ever invested in a minority stake in another company.
The advantage of the green steel purchased from H2 Green Steel is that it has up to 95 percent less embodied CO₂ emissions (Scope 3 upstream) than conventional steel produced via the blast furnace route.
Andreas Schick, Chief Operating Officer of Schaeffler AG, explained: «For Schaeffler, steel is the decisive lever to decarbonize our supply chain. The partnership with H2 Green Steel takes us a long way toward our goal of climate neutrality».