Brazil – Iochpe-Maxion SA, the São Paulo, Brazil-based parent of brands such as Maxion Wheels and Maxion Structural Components, has announced a set of sustainability commitments under its ‘ROADMAP ZERO’ strategy, which aims to make the components supplier into a carbon neutral business by 2040.

In the past year, Iochpe-Maxion issued sustainability-linked bonds to the value of USD400m and set a series of emissions reduction targets in line with its 2040 objective. The group aims to reduce its CO₂ emissions – that is to say, its emissions generated directly by its business operations as well as emissions created indirectly through its energy and fuel supply – by 30% by 2025 against a 2019 baseline. By 2030, the group aims to reduce emissions by 70%, at which point it plans to source 90% of its energy from renewable sources. Iochpe-Maxion is currently piloting on-site renewable energy generation which, if successful, could become a major source of electricity particularly for those plants where renewable energy is not readily available from the grid.