By Kim Richters

BMW AG on Monday released sustainability targets for the next ten years, including reducing carbon-dioxide emissions per vehicle by at least one third.

The German car maker said the carbon reduction will be achieved across the entire lifecycle of a vehicle, from the supply chain to the end of the use phase. BMW plans to cut production emissions by 80% compared with 2019 levels.

"For a fleet of around 2.5 million vehicles, as produced by the BMW Group in 2019, this would correspond to a reduction of more than 40 million tonnes of CO2 over the lifecycle in 2030," the company said.

BMW said the compensation for its management board and executive management will be tied to the sustainability targets and it plans to release updates on its goals from 2021.

"This new strategic direction will be anchored in all divisions--from administration and purchasing to development and production, all the way to sales," BMW Chief Executive Oliver Zipse said in a statement.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

July 27, 2020 07:22 ET (11:22 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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