Energy Efficiency, GHG Emissions, Industrial, Solar - August 29, 2024
Timken Lowers Emissions by 40%
The Timken Company, a global company in engineered bearings and industrial motion products, achieved a decrease of 40% in emissions from its 2018 baseline year through year-end 2023.
The company increased its capital investments from 2022 to 2023 to fund projects aimed at increasing efficiency and lowering emissions in its plants, including on-site renewable energy sources. Currently, 15 of the company’s plants use renewable energy.
In 2023, Timken completed the following solar energy projects at its facilities around the world:
- Bharuch, India: A new 1,000-kWh solar roof installation is expected to avoid 1,020 metric tons of CO2e annually
- San José Iturbide, Mexico: New trackers on solar panels will help reduce more than 500 metric tons of CO2e annually
- Prahova, Romania: A solar panel installation and electric vehicle charging station will avoid 900 metric tons of CO2e annually
Details were issued in its corporate social responsibility (CSR) report that highlights the company's progress towards its target to lower aggregate Scope 1 and Scope 2 GHG emissions intensity by 50% by 2030.
"Our deep experience and specialized expertise provide us with a unique perspective and ability to navigate a rapidly changing world together," said Richard G. Kyle, Timken president and CEO, in a statement. "As we look to the future, our founder Henry Timken's vision of making the world move more efficiently and sustainably remains at the core of our strategy and our approach to CSR."
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