Michelin steps up energy-transition programme
Initiatives in response to "current geopolitical situation and spiralling energy costs"
Clermont-Ferrand, France – Groupe Michelin is stepping up the implementation of a electrification progamme for the presses used to vulcanise tires, as part of its climate-change strategy.
The move, said Michelin in its full year financial report 13 Feb, is also in response to the current geopolitical situation and spiralling energy costs.
Michelin said it had earmarked €170 million for the next five years to implement the programme, which was initially launched in 2020.
Beyond that, the group said, the speed of press electrification will depend on its observed impact on energy performance.
In terms of its broader climate policies, Michelin has deployed several strategies over the past several years to increase the use of renewable energies.
Overall, 23% of the energy used by the group in 2022 was from renewable sources, up from 18% in 2021.
Michelin's initiatives in this area include the launch of biomass, solar power and wind power projects, which often have long maturity cycles.
Today, 21 group facilities are equipped with renewable energy installations, according to its statement.
As part of its energy-transition, the French group has decided to stop using coal as an energy source by 2030.
In its statement, Michelin said the number of sites still using coal was limited, but didn’t provide a figure.
The cost of replacing coal-based assets, Michelin said, is estimated at around €60 million, up from the €38 million spent last year.
For 2022, Michelin recorded a 16.6% year-on-year reduction in CO2 emissions (scopes 1 & 2) to 2,304 kilotonnes – 41% of its 2010 level, which the group is aiming to halve by 2030.
Michelin also reported an 11.2% reduction in the ‘environmental footprint of its industrial sites' in 2022 compared to 2010 – towards a targeted reduction of 33% by 2030.