Michelin

"Michelin's net zero target is to achieve carbon neutrality across its entire manufacturing base, logistics operations, and raw materials and components supply chain by 2050. Net Zero Tracker
The company also has an interim target to reduce all scope 1 & 2 emissions by 38% and CO₂ emissions by 15% vs. 2018 by 2030. Net Zero Tracker
An interesting fact about Michelin's environmental policy is that it includes the use of carbon removal within its target boundary, meaning the company may use carbon offsetting or carbon capture to achieve its goals. Net Zero Tracker
In addition, you can check out …"

Current Score (vs. LY)

51.0 pts (-)

Last Update: Dec. 12, 2023

Current Rankings

Global: #67

CAC40: #18

Consumer Discretionary: #8

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2022Y2021Y2020
Scope 1 1,180,0001,346,1231,204,534
Scope 2 - location-based NA1,880,5711,589,000
Scope 2 - market-based 1,130,0001,417,6211,258,170
Scope 1-2 - location-based 1,180,0003,226,6942,793,534
Scope 1-2 - market-based 2,310,000 2,763,744 2,462,704
Scope 3 146,000,000144,795,561165,810,462
Total - location-based 147,180,000148,022,255168,603,996
Total - market-based 148,310,000 147,559,305 167,486,082

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 149,315,738147,559,305
Methodology Scope 3 based on previous yearAs reported

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.


Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)



Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

Michelin belongs to the sector Consumer Discretionary.

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

Scope Reduction Objectives Base Year Target Year Comments
S3 15.0 2018 2030 Note that all the scope 3 emissions categories are not fully covered
S1S2MKT 27.5 2019 2030
S1S2MKT 50.0 2010 2030
S1S2MKT 100.0 2010 2050


Net Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email



Net Zero Future Commitments

Scope Scope 3 Coverage Target Year Comments
S1S2MKT NO 2050


Science-based Targets (SBTI)

Date Published / Updated :01/07/2024

Near-term Long-Term Net Zero Standard
Targets Set : 1.5°C by 2030 Targets Set : 1.5°C by 2050 Yes by 2050
Michelin is a member of the Business Ambition for 1.5 campaign (link here )

Overall Net-Zero Target: Michelin commits to reach net-zero greenhouse gas emissions across the value chain by 2050. Near-Term Targets: Michelin commits to reduce absolute scope 1 and 2 GHG emissions 47.2% by 2030 from a 2019 base year*. Michelin also commits to reduce absolute scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, upstream transportation and distribution and downstream transportation and distribution 27.5% within the same timeframe.
*The target boundary includes biogenic emissions and removals from bioenergy feedstocks. Long-Term Targets: Michelin commits to reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2019 base year*. Michelin also commits to reduce absolute scope 3 GHG emissions 90% within the same timeframe.
*The target boundary includes land-related emissions and removals from bioenergy feedstocks.

Data source: SBTI

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Offsets

Last update for Michelin by zerotracker.net: Oct. 17, 2023
Planning to use external offset credits Yes
Separate targets for emission reductions and removals No
Conditions on use of offset credits
  • No conditions specified
Plans for carbon dioxide removal (CDR) Yes (unspecified)

Additional notes: Offsets: "For Michelin, setting course to net zero means (i) reducing carbon emissions from its own operations and the operations of its value chain by 90% and (ii) over the longer term, preparing solutions to capture and store enough carbon to offset each year’s residual emissions. This is aligned with the process defined in the SBTi’s Corporate Net-Zero Standard, October 2021." [p. 164 of https://web.archive.org/web/20231017140941/https://www.michelin.com/en/documents/2022-universal-registration-document/] Removals: "Do you intend to neutralize any unabated emissions with permanent carbon removals at the target year? Yes" [https://web.archive.org/web/20231017135329/https://www.michelin.com/en/documents/response-to-cdp-climate-change-questionnaire-2020/]

Data source from zerotracker.net - For more information, see methodology

Score Summary

Ref Principle Score
(points)
Max
(points)
Delta
(points)
1 At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified 10.0 10.0 -
2 Scope 3 emissions are fully reported and externally-verified 5.0 10.0 -
3 CDP score demonstrates the level of transparent disclosures 9.0 10.0 -
Transparency 24.0 30.0 -
4 Net Zero Commitments by 2050 include an intermediate target and cover all the emissions 6.0 10.0 -
5 Net Zero targets demonstrate a high-level of emergency 0.0 10.0 -
6 Emission reduction targets on a forward-looking basis are ambitious 1.0476481331168825 10.0 -
7 Targets are science-based as validated by SBTi 7.5 10.0 -
Commitments 14.547648133116883 40.0 -
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 10.0 10.0 -
9 Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 -
10 Implied Temperature Rating by MSCi 2.5 10.0 -
Results 12.5 30.0 -
Total 51.0 100.0 -


Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email


Score Details

Criteria Results 2023 Score 2022 Score Vs. 2022 2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period? yes 5.0 / 5.0 -
Are S1+S2 figures verified by a 3rd-party for the last reporting year? yes 5.0/ 5.0 -
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed? partly 2.5 / 5.0 -
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? partly 2.5 / 5.0 -
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)? A- 9.0 / 10.0 -
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050? yes 3.0 / 3.0 -
Does the net zero target include an intermediate target by 2030? 2030 3.0 / 3.0 -
Does the net zero target include all the emissions? NC 0.0 / 4.0 -
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? 2050 0.0 / 5.0 -
Target year for achieving net zero emissions for S1+S2+S3 combined? NC 0.0 / 5.0 -
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2? 1.0
1.0 / 5.0 -
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?
No target found
0.0 / 5.0 -
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to? Targets Set Well-below 2°C 7.5 / 10.0 -
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %): 7.5
Actual (in %): 20.9
5.0 / 5.0 -
Momentum: last year % reduction vs. forward-looking target Objective (in %): 1.1
Actual (in %): 16.4
5.0 / 5.0 -
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 -
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 -
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets? ITR: 2.7°C 2.5 / 10.0 -
Total 51.0 / 100.0 -


Available Data Sources

Reporting Year 2022 2022 2022 2021 2021 2020 2019
Source Public Wikirate (NV) Wikirate (NV) CDP NZPDU NZPDU NZPDU
Publication Year 2023 unknown unknown 2022 2022 2021 2020
Scope 1 1,180,000 65 65 1,346,123 1,346,122 1,204,534 1,429,707
Scope 2 - location-based NA NA NA 1,880,571 1,880,571 1,589,000 1,820,871
Scope 2 - market-based 1,130,000 NA NA 1,417,621 1,417,621 1,258,170 1,489,458
Scope 1-2 - location-based 1,180,000 65 65 3,226,694 3,226,693 2,793,534 3,250,578
Scope 1-2 - market-based 2,310,000 NA NA 2,763,744 2,763,743 2,462,704 2,919,165
Scope 3 146,000,000 0 0 144,795,561 144,795,561 165,810,462 165,810,462
Total - location-based 147,180,000 65 65 148,022,255 148,022,254 168,603,996 169,061,040
Total - market-based 148,310,000 NA NA 147,559,305 146,820,326 167,486,082 167,942,543

Sources

Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email