Ford Motor Company is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln brand.
Carbon Capture Utilization and Storage (CCUS)
- Role and Importance: While the document does not specifically emphasize CCUS, Ford's overall strategy includes significant efforts to reduce carbon emissions through various technological advancements and operational improvements.
- Investments and Developments: Ford has invested over $26 million in facility upgrades to improve energy efficiency, which indirectly supports carbon capture and reduction efforts. This investment has helped achieve a 40% reduction in greenhouse gas emissions from manufacturing since 2017.
- Technological Collaboration: Ford collaborates with suppliers and partners through platforms like Manufacture 2030 to measure, mitigate, and reduce emissions across its global supply chain.
Sustainability and Green Initiatives
- Emission Reduction Goals: Ford aims for carbon neutrality by 2050. Between 2019 and 2022, they reduced their overall Scope 3 emissions by 23% and Scope 1 and 2 emissions by 35.4% since 2017.
- Greenhouse Gas Regulations and Policies: Ford has incorporated 60.6% carbon-free electricity in its operations globally, striving for higher renewable energy usage in its manufacturing processes.
- Energy Transition Strategy: Ford is investing over $50 billion from 2022 to 2026 to develop and manufacture electric vehicles (EVs) and batteries. By 2030, they aim for half of their global vehicle sales to be electric.
Key Takeaways
- Ford is making significant strides towards carbon neutrality through investments in energy efficiency, renewable energy, and electric vehicle production.
- The company is committed to responsible sourcing of materials, particularly for its EV and battery supply chain, ensuring environmental protection and human rights adherence.
- Ford's sustainability initiatives are supported by extensive training programs for employees and suppliers, and the company's philanthropic efforts aim to improve community welfare and support sustainable development.
Website:
https://www.ford.com/
10-K Report:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000037996/000003799624000009/f-20231231.htm
Sustainability Report:
https://media.ford.com/content/dam/fordmedia/North%20America/US/2023/sustainability/2023%20Integrated%20Sustainability%20and%20Financial%20Report.pdf
