Electronics giant Bosch wants to lead the way in combatting climate change. This May company CEO Volkmar Denner made the surprise announcement that Bosch will try to go CO2-neutral by 2020.
To neutralize the 3.3 million tons carbon dioxide it currently produces in such a short time, the firm will buy more ecologically produced power and invest in compensation initiatives like reforestation in Panama, wind-energy facilities in the Philippines and protecting trees in Africa.
Such measures will increase costs by €1 billion, and Bosch is investing an additional billion on top of that to expand its use of regenerative energy and improve energy efficiency. If its goals are achieved, Bosch would become the first company of its size and type to become CO2 neutral.