GHG Emissions, Industrial - June 18, 2021
Rolls-Royce Reveals Decarbonization Strategy
Rolls-Royce released its strategy for achieving net-zero emissions by 2050 by developing new technologies and accelerating the adoption of sustainable fuels.
The luxury automaker plans to make all its new products compatible with net-zero and use its net-zero technologies to reduce lifetime emissions of new products sold 35% by 2030 in the interim.
Part of the company’s commitment to accelerating the adoption of sustainable fuels will include reassessing executive remuneration and leveraging its partnerships to support the development of new technologies. Rolls-Royce plans on increasing its R&D spend on net-zero carbon technologies from 50% today to 75% by 2025.
More specifically, Rolls-Royce set targets for decarbonizing its own operations, including eliminating Scope 1 and 2 emissions by 2030 and developing ways for its products to be net-zero compatible through sustainable fuels or fuel cells, microgrids and electric engine technologies. The production site in Bristol, U.K., will already achieve net-zero carbon status in 2022, while all civil airplanes in production will be compatible with SAF by 2030.
“At Rolls-Royce, we believe in the positive, transforming potential of technology,” CEO Warren East said in a statement. “We pioneer power that is central to the successful functioning of the modern world. To combat the climate crisis, that power must be made compatible with net zero carbon emissions. This is a societal imperative as well as one of the greatest commercial and technological opportunities of our time. Our products and services are used in aviation, shipping and energy generation, where demand for power is increasing as the world’s population grows, becomes increasingly urbanised, more affluent and requires more electricity. These sectors are also among those where achieving net zero carbon is hardest. As a result, our innovative technology has a fundamental role to play in enabling and even accelerating, the overall global transition to a net zero carbon future. We believe that as the world emerges from the COVID-19 pandemic and looks to build back better, global economic growth can be compatible with a net zero carbon future and that Rolls-Royce can help make that happen.”