Ferrari, renowned for its luxury sports cars, is advancing its sustainability efforts with the latest partnership with Shell. The 10-year arrangement is set to bolster the decarbonization of Ferrari’s Maranello plant in Italy. Ferrari’s commitment to environmental responsibility is demonstrated by this alliance as Shell will provide 650 GWh of renewable energy. As Ferrari accelerates its push towards sustainability, the agreement aligns with its quest to drastically cut greenhouse gas emissions.
What Does the Agreement Involve?
Shell’s involvement includes supplying renewable energy and additional guarantees sourced from renewables across Ferrari’s entire energy usage in Italy. Shell Energy Italia’s CEO, Gianluca Formenti, believes the partnership with Ferrari exemplifies collaboration in sustainable business development.
“We are proud to further strengthen our partnership with Ferrari by signing this important Corporate Power Purchase Agreement,”
Formenti remarked, highlighting the agreement’s alignment with Shell’s strategy of producing energy with reduced emissions.
How Is Ferrari Progressing on Its Decarbonization Path?
Ferrari launched its decarbonization journey in 2022, aiming for climate neutrality by 2030. Recent efforts have already cut Scope 1 and 2 emissions by 30% since 2021, largely through adopting renewable electricity. This move follows the closure of its gas-powered trigeneration facility at its Maranello headquarters. With an ambitious target to reduce emissions further, agreements such as this with Shell are crucial stepping stones toward their environmental objectives.
Similar collaborations between automotive and energy sectors have emerged over the past few years as global companies aim to reduce carbon footprints. Ferrari’s recent strides parallel industry trends where luxury car brands partner with energy providers for sustainable solutions. Notably, carmakers are increasingly opting for renewable energy to meet emission reduction targets.
Shell’s collaboration extends beyond energy supply. They are supporting Ferrari’s recent goal to cut Scope 3 emissions by 25% by 2030. Addressing both Scope 1 and 2 footprints, such initiatives depict Ferrari’s broader endeavor to rethink energy usage and embrace sustainable practices.
Ferrari’s Chief Industrial Officer, Davide Abate, emphasizes the importance of sourcing renewable energy within their decarbonization strategy.
“This agreement represents a further step forward in our journey towards decarbonizing the Maranello plant,”
Abate notes.
This partnership between Shell and Ferrari exemplifies how industry leaders can collaborate to advance sustainability goals. Ferrari’s decision to embrace renewable energy reflects its strategic priority to lead in environmental sustainability. Harnessing renewable power facilitates ongoing reductions in greenhouse gas emissions and supports Ferrari’s ambitious emission targets effectively.
