Guangzhou Automobile Group (广州汽车集团有限公司|广汽集团)

GAC significantly increased its low-carbon vehicle sales at the rate required by its 1.5°C pathway between 2018 and 2020. In 2018, its low-carbon vehicle sales accounted for 1.7% of total sales, increasing to 13.2% by 2020. By 2025, GAC plans to realise more than 20% in the turnover share of new energy vehicles throughout GAC Group, of which the proportion of those within its self-owned brands will be more than 36%. To meet its 1.5°C pathway, the company will need to continue to significantly increase its low-carbon vehicle sales to be 64.5% of sales to be low-carbon by 2030.

GAC’s emissions from vehicles sold in the next five years are expected to stay within its 1.5°C carbon budget, based on its current efforts in the low-carbon transition. It is the only company projected to stay within its 1.5°C carbon budget from this year’s assessment.

GAC Group has not set an emission reduction target. GAC Honda has taken the initiative to set a carbon emission reduction goal by 2030 according to which carbon emissions are expected to decrease by 25,732 tons, and has developed an implementation plan with the ambition to exceed the goal, striving to achieve carbon neutralisation in GAC Honda’s production process ahead of schedule by 2040. Providing a group-level emission reduction target on scope 1, 2, 3 will improve GAC low-carbon transition performance.

GAC Group has set a new energy vehicle sale target, but group-level emission reduction targets are lacking. It aims to achieve a 20% of new energy vehicle turnover within GAC Group by 2025. GAC Honda has taken the initiative to set a carbon emission reduction goal by 2030.

GAC plans to increase new energy vehicle sales. It also invests in an Industrial Park as an infrastructure to foster intelligent and connected new energy vehicles.

In 2020, GAC reported that it achieved sales of new energy vehicles at an increase of 42.9% year on year. The current sale share of new energy vehicles is aligned with the 1.5°C pathway.

GAC’s scope 3 emissions intensity decreased from 86.6 grammes CO2 per passenger kilometre (gCO2/p.km) in 2015 to 70.9 gCO2/p.km in 2020. It only began disclosing its scope 1 and 2 emissions in 2019, which is insufficient to provide a meaningful assessment of its historic emissions intensity trend.

GAC demonstrated its efforts in the low-carbon transition via projected sold product performance and new energy vehicle sale shares. It also made a target for 2025 new energy vehicle sales, though its current target is not ambitious enough to stay aligned with the 1.5°C pathway.