Home Service company Europcar Mobility Group becomes the first mobility services company to have its ambitious carbon reduction targets approved by the SBTi

Europcar Mobility Group becomes the first mobility services company to have its ambitious carbon reduction targets approved by the SBTi

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PARIS–(BUSINESS WIRE)–Regulatory news:

In line with its industry leadership in terms of ESG* ratings, Europcar Mobility Group (Paris:EUCAR) today announces that The Science Based Targets initiative** validated the company’s greenhouse gas emission reduction objectives submitted by the company, deemed to be in line with the SBTi Criteria and Recommendations.

The SBTi Target Validation Team has classified the company’s Scope 1 and 2 target ambition and determined that it is consistent with a 1.5°C trajectory. In this context, Europcar Mobility Group undertakes to:

  • reduce absolute scope 1 and 2 GHG emissions (direct emissions) 46.2% by 2030 from a reference year of 2019,

  • reduce absolute Scope 3 GHG emissions (indirect emissions) 27.5% over the same period.

The approval of these carbon reduction targets reinforces the Group’s strategy, which aims to actively contribute to the low-carbon transition, by encourage the transition from vehicle ownership to use, while allowing its customers to increasingly use green mobility solutions.

In 2005, the Group was the first player in the vehicle rental sector to join the United Nations Global Compact in favor of sustainable development. In 2019, Europcar Mobility Group reinforced this ambition by joining the Science Based Targets initiative, to carry out actions in line with the objectives of the Paris Agreement, and by launching its “One Sustainable Fleet” program.

Since 2021, this ambition has been part of a global carbon reduction plan, allowing the Group to have a systemic approach, encapsulating and managing all the key processes having an impact in terms of carbon reduction: purchases and financing of the fleet, purchases excluding fleet, policy and business travel, station network, product and service offering.

As part of this plan, the Group will increase the share of green vehicles (EV, PHEV) in its fleet over the years. With this in mind, the Group announced in September 2021 robust objectives for the “greening” of its fleet, as part of a program to refinance its fleet:

  • reduce the carbon emissions of its fleet of cars and vans to an average of 93 g CO2/km for passenger cars and 144 g CO2/km for vans respectively, by the end of 2024,

  • aim for green vehicles (less than 50 g CO2/km) to represent 20% of its fleet of cars and vans by the end of 2024.

Mobility, which accounts for nearly 30% of carbon emissions in Europe, is at the heart of the transition challenges our world is currently facing. As a leading mobility services company, we are committed to doing our part in the necessary reshaping of mobility ecosystems, by providing large-scale green mobility solutions to our customers, being faithful to our goal: “to offer attractive alternatives to owning a vehicle, in a responsible and sustainable way”.

In this context, I welcome the endorsement of our targets by the SBTi, giving weight to our systemic approach to carbon reduction. We plan to take advantage of this approval, by pushing our “low carbon initiatives” further in all the Group’s key functions, and by gradually involving our customers”.

Caroline Parot, CEO, Europcar Mobility Group

* Main ESG ratings of Europcar Mobility Group:

– Rated AA by MSCI ESG Ratings in 2020 and 2021;

– Sustainalytics rating (reverse rating scale, from 40+ to 0): increase from 17.4 in 2019 to 12.1 in 2020, stable in 2021. 1st out of 339 companies in the Transport sector;

– Ecovadis gold medal: 70/100 in 2020 and 72/100 in 2021, including 90/100 for its environmental performance, top 1% of its sector;

– Score B in the CDP Climate Change 2020 and 2021 questionnaire.

About Europcar Mobility Group

Europcar Mobility Group is a major player in the mobility markets and listed on Euronext Paris. The vocation of Europcar Mobility Group is to offer attractive alternatives to owning a vehicle, in a responsible and sustainable manner. With this in mind, the Group offers a wide range of car and van rental services – whether for a few hours, a few days, a week, a month or more – with a fleet that is already “light CO2” and equipped with engines the most recent, and which will be more and more “green” in the years to come. Customer satisfaction is at the heart of the Group’s ambition and that of its employees. It also fuels the continuous development of new offers in the Group’s three service lines – Professional, Leisure and Proximity – which meet the specific needs and use cases of businesses and individuals alike. The Group’s 4 major brands are: Europcar® – European leader in car and light commercial vehicle rental, Goldcar® – European leader in low-cost car rental, InterRent® – “mid-range” car rental and Ubeeqo® – one of the European leaders in round-trip car-sharing (BtoB, BtoC). Europcar Mobility Group offers its mobility solutions worldwide through an extensive network in more than 140 countries (including wholly-owned subsidiaries – 18 in Europe, 1 in the United States, 2 in Australia and New Zealand – supplemented by franchises and partners).

More details on our website: www.europcar-mobility-group.com

** About the Science Based Targets Initiative

The Science Based Targets Initiative (SBTi) is a collaboration between CDP, the UN Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practices in science-based target setting and independently assesses corporate targets.

More information: https://sciencebasedtargets.org/