Ferrari
Automobile Manufacturers
Netherlands
ESRS disclosure: ESRS E1 \ DR E1-1 \ Paragraph 16 b
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- Provide a detailed account of the decarbonisation levers identified and the key actions planned within your transition plan for climate change mitigation. This should include references to your GHG emission reduction targets and climate change mitigation actions, as specified in Disclosure Requirements E1-4 and E1-3. Additionally, elucidate any changes anticipated in your product and service portfolio, as well as the adoption of new technologies within your operations or across the upstream and/or downstream value chain.
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Question Id: E1-1_03
Our decarbonization levers to reach Carbon Neutrality by 2030 include:
- Energy efficiency & use of renewable sources: Phasing out of our trigeneration plant by 2024, installation of photovoltaic panels since 2023.
- Our products: Launch of the first full electric Ferrari by 2025, engine production with 100% recycled alloy by 2026, use of recycled materials in our products ongoing.
- Carbon Avoidance: Purchase of Carbon Credits in partnership with ClimateSeed since 2022.
- Constant dialogue with partners: Introduction of Hydrotreated Vegetable Oil (HVO) fuel in our European outbound logistics on road since 2023, launch of the Green Dealer Award since 2023.
These actions are aligned with our targets to reduce Scope 1 and 2 emissions by 90% and Scope 3 emissions by 40% per car by 2030 compared to 2021.
Report Date: 4Q2024Relevance: 90%
- Provide an explanation for each identified material climate-related risk, specifying whether the entity classifies the risk as a climate-related physical risk or a climate-related transition risk, in accordance with the Disclosure Requirement related to ESRS 2 SBM-3 concerning material impacts, risks, and opportunities and their interaction with strategy and business model.
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Question Id: E1.SBM-3_01
The identified material climate-related risks are classified as follows:
Physical Risks for Maranello and Modena facilities:
- Acute: Increased Hail Frequency and Severity, Increase of Summer Blackout, Increase in Flooding Risk, Increased Wind Storm Severity, Increase in Drought Risk and Water Stress, Increase in Wildfires Risk.
- Chronic: Gas Equipment Production Reduction, Fuel Cell Efficiency Reduction, Health Hazards Accelerating invasion potential of disease vectors, Increased Heat Waves Frequency and Length, Increase in Mean Temperature, Solar Panel Production Reduction.
Physical Risks for supply chain:
- Acute: Increased Drought Exposure, Hydrogeologic Risk, Increased Flooding Exposure, Acute Climate Risk on Countries Extracting Critical Materials.
- Chronic: Increased Chronic Risk Exposure, Chronic Climate Risk on Countries Extracting Critical Materials.
Transition Risks organization worldwide:
- Market: Failure in Intercepting Favourable Markets, Failure in Aligning with Countries Climate Ambitions, Disalignment with Peers Transition Plans, Exposure to Critical Materials Price Soar, CBAM Induced Increased Costs of Extra EU Supplies, Future Hypothetical Carbon Tax.
- Normative: Failure in Aligning with Countries Targets, Failure in Aligning with Cities Targets.
- Reputational: Penalty Fees for Exceeding Vehicle Emission Mandates, Change in climate induced luxury perception.
- Technology: Supply Shortages of Critical Materials, Scarcity of Components and Materials Needed for the PV Arrays.
Report Date: 4Q2024Relevance: 90%