Difference between revisions of "Stellantis N.V."

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     | title =
     | title =
     | label4= Headquarters (Benelux Organization)
     | label4= Headquarters (Benelux Organization)
     | data4 = Amsterdam, Netherlands  
     | data4 = Amsterdam, the Netherlands  
     | title =
     | title =
     | label5= Year of Origin
     | label5= Year of Origin
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     | title =
     | title =
     | label6= Emissions (All Scopes)
     | label6= Emissions (All Scopes)
     | data6 = 11,68 Megatons of CO2 (2020)
     | data6 = 11.68 Megatons of CO2 (2020)
     | title =  
     | title =  
    | label7= NCI assessment
    | data7 = Moderate
     | title =  
     | title =  
     | label7= Total Revenue  
     | label8= Total Revenue  
     | data7 = 152 billion EUR (2020)
     | data8 = 149 billion EUR (2020)
     | label8= Stock Exchange
     | label9= Stock Exchange
     | data8 = Bijv. Tokio, Amsterdam
     | data9 = Bijv. Tokio, Amsterdam
     | label9= Key People
     | label10= Key People
     | data9 = John Elkann (Chairman), Carlos Tavares (CEO), Robert Peugeot (Vice Chairman)  
     | data10 = John Elkann (Chairman), Carlos Tavares (CEO), Robert Peugeot (Vice Chairman)  
     | label10= Number of Employees
     | label11= Number of Employees
     | data10 = 189.512
     | data11 = 281,595
     | title =
     | title =
     | label11= Subsidiaries
     | label12= Subsidiaries
     | data11 = {{plainlist|
     | data12= {{plainlist|
* Comau
* Comau
* Sevel
* Sevel
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  |below      =  
  |below      =  
}}
}}
'''Stellantis N.V. ''', stylized as '''Stellantis''' is an international automotive producer. <ref>https://www.stellantis.com/en/company/about-us</ref> The company was created in January 2021 through a merge of Peugeot S.A.(PSA) into Fiat Chrysler Automobiles N.V.(FCA) with Fiat Chrysler Automobiles N.V. as the surviving company in the 'merger'. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_2020_12_31_Annual_Report.pdf P6</ref> After the merge the company was renamed Stellantis N.V. Stellantis owns 14 automotive brands (Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugot, Ram, and Vauxhall).<ref>https://www.stellantis.com/en/search?q=</ref> Stellantis' headquarters are located in Amsterdam, the Netherlands. In 2020 Stellantis had a total of 189.512 employees<ref>https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_2020_12_31_Annual_Report.pdf P28</ref> The company has industrial operations in nearly 30 countries and consumers in more than 130 markets. <ref>https://www.stellantis.com/en/company/about-us</ref> Revenue of Stellantis was 152 Billion euros in 2021 of which 13,4 billion euros was profit <ref>https://www.stellantis.com/en/news/press-releases/2022/february/full-year-2021-results</ref>  
'''Stellantis N.V. ''', stylized as '''Stellantis''' is an international automotive producer. <ref>https://www.stellantis.com/en/company/about-us</ref> The company was created in January 2021 through a merge of Peugeot S.A.(PSA) into Fiat Chrysler Automobiles N.V.(FCA). The surviving company in the 'merger' was renamed Stellantis NV. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_2020_12_31_Annual_Report.pdf P6</ref> Stellantis owns 14 automotive brands (Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugot, Ram, and Vauxhall).<ref>https://www.stellantis.com/en/search?q=</ref> Stellantis' headquarters are located in Amsterdam, the Netherlands. In 2021 Stellantis had a total of 281,595 employees.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_NV_2021_Annual_Report.pdf p29</ref> The company has industrial operations in nearly 30 countries and consumers in more than 130 markets. <ref>https://www.stellantis.com/en/company/about-us</ref> Revenue of Stellantis was 149.42 billion euros in 2021 of which 14 billion euros was profit <ref>https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_NV_2021_Annual_Report.pdf p12</ref>  


With annual sales of approximately eight million vehicles, Stellantis is ranked as the fourth-largest global automaker by volume.<ref>https://www.forbes.com/wheels/news/stellantis-fiat-chrysler-merges-with-psa-becoming-worlds-fourth-largest-automaker/</ref> With this ranking, Stellantis is without question a key player in its industry.   
With annual sales of approximately eight million vehicles, Stellantis is ranked as the fourth-largest global automaker by volume.<ref>https://www.forbes.com/wheels/news/stellantis-fiat-chrysler-merges-with-psa-becoming-worlds-fourth-largest-automaker/</ref> With this ranking, Stellantis is without question a key player in its industry.   
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{| class="wikitable"
{| class="wikitable"
|+Executive Board (2021)<ref>https://www.stellantis.com/en/company/governance/leadership</ref>
|+Board of Directors (2021)<ref>https://www.stellantis.com/en/company/governance/leadership</ref>
!Name
!Name
!Function
!Function
! Remuneration x1000EUR <ref>https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_NV_2021_Annual_Report.pdf p163</ref>
|-
|-
|John Elkann
|John Elkann
|Chairman
|Chairman
|7,884
|-
|-
|Carlos Taveres
|Carlos Taveres
|CEO
|CEO
|19,153
|-
|-
|Robert Peugot
|Robert Peugot
|Vice Chairman
|Vice Chairman
|203
|-
|-
|Henri de Castries
|Henri de Castries
|Senior Independent Director
|Senior Independent Director
|273
|-
|-
|Andrea Agnelli
|Andrea Agnelli
|Non-executive Director
|Non-executive Director
|226
|-
|-
|Fiona Clare Cicconi
|Fiona Clare Cicconi
|Non-executive Director
|Non-executive Director
|208
|-
|-
|Nicolas Dufroucq
|Nicolas Dufroucq
|Non-executive Director
|Non-executive Director
|Unkown
|-
|-
|Ann Frances Godbehere
|Ann Frances Godbehere
|Non-executive Director
|Non-executive Director
|228
|-
|-
|Wan Ling Martello
|Wan Ling Martello
|Non-executive Director
|Non-executive Director
|221
|-
|-
|Jacques de Saint-Exupéry
|Jacques de Saint-Exupéry
|Non-executive Director
|Non-executive Director
|198
|-
|-
|Kevin Scott
|Kevin Scott
|Non-executive Director
|Non-executive Director
|203
|}
|}
=== Top Executive Team===


{| class="wikitable"
{| class="wikitable"
|+FCA Executive Board (2020)<ref>https://www.stellantis.com/en/company/governance/leadership</ref>
|+Executive Team (2021)<ref>https://www.stellantis.com/en/company/governance/leadership</ref>
!Name
!Name
!Function
!Function
!Remuneration x1000EUR<ref>https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_2020_12_31_Annual_Report.pdf P160</ref>
|-
|-
|John Elkann
|Carlos Taveres
|Chairman
|CEO
|2391,2
|-
|Silvia Vernetti
|Global Corporate Officer
|-
|Emmanual Delay
|Chief Performance Officer
|-
|Yves Bonnefont
|Chief Software Officer
|-
|Philippe de Rovira
|Chief Affiliates Officer
|-
|Mark Stewart
|Chief Operating Officer, North America
|-
|Antonio Filosa
|Chief Operating Officer, South America
|-
|Carl Smiley
|Chief Operating Officer, India & Asia Pacific
|-
|Christophe Musy
|Senior Vice President, ASEAN
|-
|Maxime Picat
|Chief Operating Officer, Enlarged Europe
|-
|Xavier Duchemin
|Senior Vice President, Eurasia
|-
|Samir Cherfan
|Chief Operating Officer, Middle East & Africa
|-
|Grégoire Olivier
|Chief Operating Officer, China
|-
|Christian Meunier
|Brand Chief Executive Officer, Jeep
|-
|Christine Feuell
|Brand Chief Executive Officer, Chrysler
|-
|Timothy Kuniskis
|Brand Chief Executive Officer, Dodge
|-
|Mike Koval
|Brand Chief Executive Officer, Ram
|-
|Vincent Cobée
|Brand Chief Executive Officer, Citroën
|-
|Olivier Fançois
|Brand Chief Executive Officer, Fiat & Abarth
|-
|Uwe Hochgeschurtz
|Brand Chief Executive Officer, Opel & Vauxhall
|-
|Linda Jackson
|Brand Chief Executive Officer, Peugot
|-
|Jean-Philippe Imparato
|Brand Chief Executive Officer, Alfa Romeo
|-
|Béatrice Foucher
|Brand Chief Executive Officer, DS Automobiles
|-
|Luca Napolitano
|Brand Chief Executive Officer, Lancia
|-
|Davide Grasso
|Brand Chief Executive Officer, Maserati
|-
|Brigitte Courtehoux
|Brand Chief Executive Officer, Free2Move
|-
|-
|Michael Manley
|Giacomo Carelli
|CEO
|Chief Executive Officer, Leasys
|11729,6
|-
|-
|Richard Palmer
|Richard Palmer
|CFO
|Chief Financial Officer
|4471,5
|-
|Xavier Chéreau
|Chief Human Resources & Transformation Officer
|-
|Giorgio Fossati
|General Counsel
|-
|Oliver Bourges
|Chief Planning Officer
|-
|-
|John Abbott
|Michelle Wen
|Non-executive Director
|Chief Purchasing & Supply Cahin Officer
|43,8
|-
|Arnaud Deboeuf
|Chief Manufacturing Officer
|-
|-
|Andrea Agnelli
|Ralph Gilles
|Non-executive Director
|Chief Design Officer
|45,9
|-
|-
|Tiberto D'adda Brandolini
|Jean-Pierre Ploué
|Non-executive Director
|Chief Design Officer
|44,7
|-
|-
|NGlenn Earle
|Harald Wester
|Non-executive Director
|Chief Engineering Officer
|71,5
|-
|-
|Valerie Mars
|Nicolas Morel
|Non-executive Director
|Deputy Chief Engineering Officer
|60,9
|-
|-
|Ruth J. Simmons
|Ned Curic
|Non-executive Director
|Chief Technology Officer
|Unkown
|-
|-
|Ronald L. Tompson
|Thierry Koskas
|Non-executive Director
|Chief Sales & Marketing Officer
|58,2
|-
|-
|A. Michelangelo Volpi
|Richard Schwarzwald
|Non-executive Director
|Chief Customer Experience Officer
|52,4
|-
|-
|T. Patience Wheatcrof
|Jean-Christphe Qemard
|Non-executive Director
|Deputy Chief Customer Experience Officer
|59,7
|-
|-
|Ermenegildo Zegna
|Bertrand Blaise
|Non-executive Director
|Chief Cummunication & CSR Officer
|68
|}
|}


=== Accountant ===
=== Accountant ===
The independent auditor of Stellantis is Ernst & Young Accountants LLP.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_2020_12_31_Annual_Report.pdf P3</ref> The sustainability report of FCA was checked by an external independent audit firm, Deloitte & Touche S.p.A. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P166</ref> The firm  Grant Thornton was the independent auditor for the PSA CRS report.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P308</ref>
The independent auditor of Stellantis is Ernst & Young Accountants LLP.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_NV_2021_Annual_Report.pdf p3</ref> In the Independent Auditor Report of 2021, they state that assessment of the climate-related risks and the possible effects of the energy transition did not result in a separate key audit matter.<ref>Stellantis. (2022). Annual Report 2021. p. 384. Retrieved from <nowiki>https://www.stellantis.com/en/investors/reporting/financial-reports</nowiki></ref> The years before that, climated-related risks are not mentioned. In 2018, however, one of the key audit matters was the US emissions investigations.<ref>FCA. (2019). FCA N.V. Annual Report 2018. p. 314. Retrieved from  <nowiki>https://www.stellantis.com/en/fca-psa-archives/fca/financial-reports</nowiki>)</ref> Beginning of 2019, settlements were reached and in the report of 2019, this was not a key audit matter anymore.<ref>FCA. (2020). FCA N.V. Annual Report 2019. p. 323. Retrieved from <nowiki>https://www.stellantis.com/en/fca-psa-archives/fca/financial-reports</nowiki>)</ref>


=== Main Activities ===
=== Main Activities ===
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Stellantis has not received NOW support from the Dutch government. <ref>https://www.uwv.nl/overuwv/Images/uwv-register-now-vijfde-aanvraagperiode.pdf</ref> Stellantis does not have Royal status.<ref>https://www.koninklijkhuis.nl/onderwerpen/onderscheidingen/predicaat-koninklijk/overzicht-predicaat-koninklijk</ref>
Stellantis has not received NOW support from the Dutch government. <ref>https://www.uwv.nl/overuwv/Images/uwv-register-now-vijfde-aanvraagperiode.pdf</ref> Stellantis does not have Royal status.<ref>https://www.koninklijkhuis.nl/onderwerpen/onderscheidingen/predicaat-koninklijk/overzicht-predicaat-koninklijk</ref>


== Paris Agreement to Today ==
'''Shareholders'''
 
* Exor (14.35%)
* EPF (7.16%)
* BPI (6.15%)
* Amundi Asset Management(3.40%)
* BlackRock Inc. (3.31%)
* Dongfeng (3.17%)
 
== Paris Agreement until Today ==
===PSA===
===PSA===


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===FCA===
===FCA===


FCA used the [https://sdgs.un.org/goals/ SDGs] to create targets for 2020 that covered priority areas for the company.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf</ref> The majority of these targets were met in 2020. For example, one of FCA's commitments was to minimize environmental impacts from our products by reducing CO2 emissions and improving fuel economy. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P24</ref> Within this commitment FCA selected 5 different targets for 2020, all these targets were met. One of the targets was to achieve 40% reduction in CO2 emissions vs 2006 for mass-market cars sold in Europe, according to EU regulation requirements. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf</ref> This target was met as the company reduced the CO2 emissions by 41%. This is just one of the examples of the many commitments and targets that were set by FCA.
FCA used the [https://sdgs.un.org/goals/ SDGs] to create targets for 2020 that covered priority areas for the company.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf</ref> The majority of these targets were met in 2020. For example, one of FCA's commitments was to minimize environmental impacts from their products by reducing CO2 emissions and improving fuel economy. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P24</ref> Within this commitment FCA selected 5 different targets for 2020, all these targets were met. One of the targets was to achieve 40% reduction in CO2 emissions vs 2006 for mass-market cars sold in Europe, according to EU regulation requirements. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf</ref> This target was met as the company reduced the CO2 emissions by 41%. their second target was to achieve at least 5% to 15% improvement in fuel economy for major renewals of FCA US vehicles compared with replaced vehicles. This target was met as powertrain and technology upgrades for existing products contributed to fuel economy improvements up to 15%. Their third target was to develop electric/hybrid technologies that are beneficial to society. This target was met as FCA released 7 new electrified models. Their 4th target was to maintain a wide offering of CNG models in Europe and promote technological innovation. This target was met as FCA was confined among leaders for natural gas vehicles in Europe with more than 780.000 natural gas vehicals sold since 1997. Lastly, FCA had a target to reduce CO<sub>2</sub> emissions by 30% vs 2008 on the entire Maserati product range. This target was met as FCA reduced emissions by 30% vs the 2008 on the entire Maserati product range in the main three regulated markets (U.S., China, EU)


=== Financial Results since 2015 ===
=== Financial Results since 2015 ===
In 2021 revenue of Stellantis was 149.42 billion euros of which 14 billion euros was profit.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_NV_2021_Annual_Report.pdf</ref>


{| class="wikitable"
{| class="wikitable"
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|-
|-
|2015<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/psa/financial-documents/2015/2015_annual_report_0.pdf</ref>
|2015<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/psa/financial-documents/2015/2015_annual_report_0.pdf</ref>
|54,676 million EUR  
|54.676 million EUR  
|1,202 million EUR
|1.202 million EUR
|XXX EUR
|XXX EUR
|-
|-
|2016<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/psa/financial-documents/2016/rapport-annuel-2016-VA.pdf</ref>
|2016<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/psa/financial-documents/2016/rapport-annuel-2016-VA.pdf</ref>
|54,030 million EUR  
|54.030 million EUR  
|2,149 million EUR
|2.149 million EUR
|XXX EUR
|XXX EUR
|-
|-
|2017<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/psa/financial-documents/2017/Annual-report-2017-version-def-VERSION2.pdf</ref>
|2017<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/psa/financial-documents/2017/Annual-report-2017-version-def-VERSION2.pdf</ref>
|65,210 million EUR  
|65.210 million EUR  
|2,358 million EUR
|2.358 million EUR
|XXX EUR
|XXX EUR
|-
|-
|2018<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/psa/financial-documents/2018/Annual-results-Groupe-PSA-2018.pdf</ref>
|2018<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/psa/financial-documents/2018/Annual-results-Groupe-PSA-2018.pdf</ref>
|74,027 million EUR  
|74.027 million EUR  
|3,295 million EUR
|3.295 million EUR
|XXX EUR
|XXX EUR
|-
|-
|2019<ref>stellantis.com/content/dam/stellantis-corporate/archives/psa/financial-documents/2019/Groupe-PSA-Annual-report-2019-incl-auditors-report.pdf</ref>
|2019<ref>stellantis.com/content/dam/stellantis-corporate/archives/psa/financial-documents/2019/Groupe-PSA-Annual-report-2019-incl-auditors-report.pdf</ref>
|74,731 million EUR  
|74.731 million EUR  
|3,584 million EUR
|3.584 million EUR
|XXX EUR
|-
|2020
|XXX million EUR
|XXX EUR
|XXX EUR
|-
|2021
|XXX million EUR
|XXX EUR
|XXX EUR
|XXX EUR
|}
|}
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|-
|-
|2015<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2015/FCA_2015_Annual_Report.pdf</ref>
|2015<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2015/FCA_2015_Annual_Report.pdf</ref>
|110,595 million EUR  
|110.595 million EUR  
|377 million EUR
|377 million EUR
|XXX EUR
|XXX EUR
|-
|-
|2016<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2016/FCA_2016_Annual_Report.pdf</ref>
|2016<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2016/FCA_2016_Annual_Report.pdf</ref>
|111,018 million EUR  
|111.018 million EUR  
|1814 million EUR
|1.814 million EUR
|XXX EUR
|XXX EUR
|-
|-
|2017<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2017/FCA_NV_2017_Annual_Report.pdf</ref>
|2017<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2017/FCA_NV_2017_Annual_Report.pdf</ref>
|110,934 million EUR  
|110.934 million EUR  
|3510 million EUR
|3.510 million EUR
|XXX EUR
|XXX EUR
|-
|-
|2018<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2018/FCA_NV_2018_Annual_Report.pdf</ref>
|2018<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2018/FCA_NV_2018_Annual_Report.pdf</ref>
|110,412 million EUR  
|110.412 million EUR  
|3632 million EUR
|3.632 million EUR
|XXX EUR
|XXX EUR
|-
|-
|2019<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2019/FCA_NV_2019_Annual_Report.pdf</ref>
|2019<ref>https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2019/FCA_NV_2019_Annual_Report.pdf</ref>
|108,187 million EUR  
|108.187 million EUR  
|6630 million EUR
|6.630 million EUR
|XXX EUR
|-
|2020
|XXX million EUR
|XXX EUR
|XXX EUR
|-
|2021
|XXX million EUR
|XXX EUR
|XXX EUR
|XXX EUR
|}
|}


====Scandals and controversies====
== Current Emissions ==
In 2021 FCA was fined $30 million after the company pled guilty to federal criminal charges related to corruption.<ref>https://www.wardsauto.com/industry-news/stellantis-unit-fca-fined-30-million-corruption-scandal</ref> As part of the punishment an independent monitor, Frances McLeod, will keep tabs on FCA for the next year, therefore also affecting Stellantis. FCA  corrupted United Auto Workers (UAW) leaders by giving millions of dollars in gifts and cash. One of the attorneys on the case stated that "the sentencing of FCA marks a significant milestone in this historic case". <ref>https://www.wardsauto.com/industry-news/stellantis-unit-fca-fined-30-million-corruption-scandal</ref>
 
====Stellantis====


== Current Emissions ==
In the newest CSR report from Stellantis, no information on the amount of CO2 emission is given. Stellantis does provide a breakdown of the percentage per scope. In this, it is shown that the largest footprint comes from vehicles sold in scope 3 as it is 85%.


As Stellantis was created in 2021 through the merge of PSA and FCA, currently the sustainability report of this company is not yet available. Stellantis does state on their website that, they take the 2030 United Nations Sustainable Development Goals as a framework for their actions in the transition to a more sustainable future.<ref>https://www.stellantis.com/en/responsibility/csr-vision</ref>
[[File:emmissions.png|thumb|Total carbon footprint of vehicles sold by Stellantis in Europe <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/stellantis/2021/Stellantis_2021_CSR_Report.pdf</ref>]]


'''Note:''' The next section on Policies, Emissions, and Climate Plans will be on the data provided by both PSA and FCA in their [https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf/ CRS Report] and [https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf/ Sustainability Report].  The creation of Stellantis produces a new company and therefore a simple combination of the emissions and goals of PSA and FCA is not enough to get a clear overview of the new company. The stellantis CRS report will be published in the spring of 2022 and will provide more accurate data on the company as a whole.<ref>https://www.stellantis.com/en/responsibility/responsible-purchasing-practices</ref>
===PSA===
===PSA===


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!Scope 3
!Scope 3
|-
|-
|0,686689 Megatonnes of CO2 (2020)
|0.686689 Megatonnes of CO2 (2020)
|0,200595 Megatonnes of CO2 (2020)
|0.200595 Megatonnes of CO2 (2020)
|0,675060 Megatonnes of CO2 (2020)
|0.675060 Megatonnes of CO2 (2020)
|-
|-
|}
|}
Line 302: Line 381:
''Scope 1 and 2''
''Scope 1 and 2''
{| class="wikitable"
{| class="wikitable"
|+GHG Emissions(tons of CO2)<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P82</ref>
|+GHG Emissions (tons of CO2)<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P82</ref>
!Type
!Type
!Scope 1
!Scope 1
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''Scope 3''
''Scope 3''


In 2019 scope 3 emissions from purchases of material and components were '''4251''' tons of CO2. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P86</ref> The emissions generated by business travel is divided by air travel and train transport. The CO2 emission for air travel was '''5844,285''' ton in 2020. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P90</ref> The Co2 emission for train transport was '''51,043''' tons of CO2 in 2020. The emissions from business travel in total was '''5895,328''' tons of CO2. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P90</ref> The GHG eq emissions for shipment and transport in 2020 was '''470.242''' tons of CO2 eq. for upstream transport and '''194.672''' CO2 eq for downstream transport.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P89</ref> This includes, road, air, rail, and sea travel. The total scope 3 emissions that were reported in the PSA CSR report is '''675.060,328''' tons of CO2 in 2020.
In 2019 scope 3 emissions from purchases of material and components were '''4251''' tons of CO2. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P86</ref> The emissions generated by business travel is divided by air travel and train transport. The CO2 emission for air travel was '''5844,285''' ton in 2020. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P90</ref> The CO2 emission for train transport was '''51,043''' tons of CO2 in 2020. The emissions from business travel in total was '''5895,328''' tons of CO2. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P90</ref> The GHG eq emissions for shipment and transport in 2020 was '''470.242''' tons of CO2 eq. for upstream transport and '''194.672''' CO2 eq for downstream transport.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P89</ref> This includes, road, air, rail, and sea travel. The total scope 3 emissions that were reported in the PSA CSR report is '''675.060,328''' tons of CO2 in 2020.


===FCA===
===FCA===
Line 338: Line 417:
!Scope 3
!Scope 3
|-
|-
| 0,877603 Megatonnes of CO2 (2020)
| 0.877603 Megatonnes of CO2 (2020)
| 2,035614 Megatonnes of CO2 (2020)
| 2.035614 Megatonnes of CO2 (2020)
| 0,001296 Megatonnes of CO2 (2020)
| 0.001296 Megatonnes of CO2 (2020)
|-
|-
|}
|}
Line 347: Line 426:
''Scope 1''
''Scope 1''


The direct emissions were '''877.603''' tons of CO2 in 2020.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133</ref>
The direct emissions were '''877,603''' tons of CO2 in 2020.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133</ref>


FCA reports direct CO2 emissions based on direct energy consumption with the aid of the IPCC 2006 conversion factors. The company reports indirect CO2 emissions according to the standards and guidelines outlined in the GHG Protocol.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133</ref> FCA states that emissions of greenhouse gases (GHGs) other than CO2 have a negligible impact and are therefore not included. CO2 represents more than 99% of the
FCA reports direct CO2 emissions based on direct energy consumption with the aid of the IPCC 2006 conversion factors. The company reports indirect CO2 emissions according to the standards and guidelines outlined in the GHG Protocol.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133</ref> FCA states that emissions of greenhouse gases (GHGs) other than CO2 have a negligible impact and are therefore not included. CO2 represents more than 99% of the
Line 354: Line 433:
''Scope 2''
''Scope 2''


The indirect emissions were '''2.035.614''' tons of CO2 in 2020.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133</ref>
The indirect emissions were '''2,035,614''' tons of CO2 in 2020.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133</ref>


Indirect emissions were calculated using the market-based method.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133</ref>
Indirect emissions were calculated using the market-based method.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133</ref>
Line 389: Line 468:
|}
|}


[[File:BEV.png|thumb|T&E's carmaker Ev readiness Index <ref>https://www.transportenvironment.org/discover/volvo-and-vw-the-only-european-carmakers-on-track-to-electrify-on-time-study/</ref>]]


The emissions for both PSA and FCA are surprisingly low for automotive producers. This can be attributed mostly to the low reporting of the companies' scope 3 emissions. PSA reports for their scope 3 emissions purchased goods and services and business travel, these are only two of the 15 different sectors that are included in scope 3 emissions.<ref>https://ghgprotocol.org/sites/default/files/standards/Corporate-Value-Chain-Accounting-Reporing-Standard_041613_2.pdf</ref> FCA only reports upstream and downstream emission from Logistics Processes in really low numbers. This leaves out a large portion of the CO2 emissions from both companies and therefore their emissions cannot be seen as complete.
The emissions for both PSA and FCA are surprisingly low for automotive producers. This can be attributed mostly to the low reporting of the companies' scope 3 emissions. PSA reports for their scope 3 emissions purchased goods and services and business travel, these are only two of the 15 different sectors that are included in scope 3 emissions.<ref>https://ghgprotocol.org/sites/default/files/standards/Corporate-Value-Chain-Accounting-Reporing-Standard_041613_2.pdf</ref> FCA only reports upstream and downstream emission from Logistics Processes in really low numbers. This leaves out a large portion of the CO2 emissions from both companies and therefore their emissions cannot be seen as complete.
Most of the emissions from PSA and FCA, and therefore also Stellantis fall under the ''use of products''. As there is data lacking on this section of their emissions some calculations were done to get an estimate. According to an article posted by ''de correspondent,'' a petrol car produces around 50 tons of CO<sub>2</sub> over its lifespan. <ref>https://decorrespondent.nl/6601/waarom-de-elektrische-auto-nu-al-groener-rijdt-maar-er-betere-argumenten-zijn-om-over-te-stappen/694075842075-4e3a4cf5</ref> In 2020 Stellantis sold 6,2 million cars.<ref>https://fiatgroupworld.com/2021/02/14/stellantis-sold-6-2-million-vehicles-in-2020-dropping-two-positions-in-the-top-10-global-ranking/</ref> This means that in 2020 Stellantis produced 310 megatons of CO<sub>2</sub>. This shows just how much information is missing from the current annual reports, as they are not reporting on their largest section.


== Climate Policy and Plans ==
== Climate Policy and Plans ==


===Stellantis===
Given its main sources of greenhouse gas emissions, Stellantis' climate plans are focused on three issues<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/stellantis/2021/Stellantis_2021_CSR_Report.pdf</ref>:


On March 1st, 2022 Stellantis came out with a statement regarding its climate plans called [https://www.stellantis.com/en/news/press-releases/2022/march/dare-forward-2030-stellantis-blueprint-for-cutting-edge-freedom-of-mobility#:~:text=Stellantis%20will%20be%20the%20industry,contribution%20to%20a%20sustainable%20future./''Dare Forward 2030''].<ref>https://www.stellantis.com/en/news/press-releases/2022/march/dare-forward-2030-stellantis-blueprint-for-cutting-edge-freedom-of-mobility#:~:text=Stellantis%20will%20be%20the%20industry,contribution%20to%20a%20sustainable%20future.</ref> This plan includes 4 main goals for 2030:
1. Cutting CO<sub>2</sub> vehicle emissions


1. 50% reduction of CO2 emissions by 2030
2. Moving Forward into a carbon-efficient production system


2. Setting the course for 100% battery electric vehicles sales in Europe and 50% in the United States
3. Improving the environmental performance of the supply chain


3. Achieving number one position in customer satisfaction
For each of these issues, Stellantis has created a short-term, medium-term, and long-term commitment.  


4. Doubling net revenues while transforming our business models and sustaining double-digit operating margins
{| class="wikitable"
|+Climate Targets <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/stellantis/2021/Stellantis_2021_CSR_Report.pdf p37</ref>
!CRS Issue
!Strategic KPIs
!Short-Term
!Medium-Term
!Long-Term
|-
|CRS Issue #1
|Percentage of nameplates with LEV offering (focus on U.S. and EU)
|2025: EU(98%), U.S.(95%)
|2030: EU(100%), U.S. (100%)
|2038: EU(100%), U.S. (100%)
|-
|CRS Issue #1
|Share of LEV in global sales mix (focus on U.S. and EU)
|2025: EU 44% LEV inc. 34% BEV, U.S. 37% LEV incl. 14% BEV
|2030: EU 100% BEV, U.S 50% BEV
|2038: EU 100% BEV, U.S. 100% BEV
|-
|CRS Issue #2
|Absolute scope 1 and 2 GHG emissions (tons of CO<sub>2</sub>-eq)
|2025: -50% vs 2021
|2030: -75% vs 2021
|2038: Carbon Net Zero, with single digit % compensation of residual emissions vs 2021 level
|-
|CRS Issue #2
|Share of decarbonized electricity used (%)
|2025: 50%
|2030: 100%
|2038: 100%
|-
|CRS Issue #3
|Share of Annual Purchased Value from suppliers with CO2 reduction targets compliant with the Paris Agreement
|2025: 80% Annual Purchase Value from strategic (Level 1 and Level 2) suppliers
|2030: 95% Annual Purchase Value from strategic (Level 1 and Level 2) suppliers
|2038: Carbon Net-Zero of the supply chain with minimal compensation
|-
|CRS Issue #3
|CO<sub>2</sub> emissions of purchased parts
|2025: Award business compliant with CO<sub>2</sub> emission targets defined for each new EV project
|2030: -40% of CO<sub>2</sub> emissions of purchased parts per EV vs 2021
|2038: Carbon Net-Zero of the supply chain with minimal compensation
|}


Furthermore, Stellantis aims to be '''carbon net-zero by 2038'''.<ref>https://www.stellantis.com/en/investors/events/strategic-plan</ref> This plan does not include more information on the current emissions of the company.
To establish its targets, Stellantis referred to the Science-Based Targets initiative (SBTi) methodology.  


===PSA===
=== NewClimate Institute (NCI) Report ===


Groupe PSA has identified three CSR issues that are related to Climate Change:
== Due Diligence ==


1. Cutting CO2 Vehicle emissions
===Due Diligence===


In order to work on this issue, PSA has set a target of a reduction of 37% per vehicle kilometer of GHG emissions by 2034 from a 2018 base year, assessed on a well-to-wheel perimeter.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P61</ref> This target has been approved by the Science Based Targets initiative (SBTi) as the unconditional necessity to limit global warming to 2 degrees.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P61</ref>
===Scandals and controversies===
 
In 2021 FCA was fined $30 million after the company pled guilty to federal criminal charges related to corruption.<ref>https://www.wardsauto.com/industry-news/stellantis-unit-fca-fined-30-million-corruption-scandal</ref> As part of the punishment an independent monitor, Frances McLeod, will keep tabs on FCA for the next year, therefore also affecting Stellantis. FCA  corrupted United Auto Workers (UAW) leaders by giving millions of dollars in gifts and cash. One of the attorneys on the case stated that "the sentencing of FCA marks a significant milestone in this historic case". <ref>https://www.wardsauto.com/industry-news/stellantis-unit-fca-fined-30-million-corruption-scandal</ref>
Another target that has been set is, in 2025 100% of the models marketed by the PSA Groupe worldwide will be proposed in electric or plug-in hybrid versions. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P64 </ref>
 
 
2. Moving forward into a carbon-efficient industrial system
 
Target: By 2050 all the PSA plants will be carbon-neutral.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P42</ref> PSA aims to achieve this through the use of renewable energies and new carbon-free technologies.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P40</ref> Furthermore, PSA will offset inevitable emissions in order to reach this goal.
 
 
3. Improving the environmental performance of the supply chain and logistics
 
Extraction of materials and production of parts are the second source (about 17%) of CO2 emissions for PSA. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P85</ref> Therefore, this is plays a key role in PSA's target to reduce CO2 emissions. The purchasing department's strategy to reduce GHG emissions in its entire supply chain consists of selecting suppliers according to environmental criteria such as the ISO 14001 certification. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P85</ref> Furthermore, the purchasing department also collects status reports from their major suppliers on their current and future CO2 emissions. <ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P85</ref> The supply chain ambition aims to reduce logistic carbon emissions by a third per vehicle between 2016 and 2035, this would lead to an average decrease of 2,1% per year.<ref>https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P86</ref>
 
Throughout the PSA CSR report, the company states one disclaimer: "In 2021, the Stellantis teams will start converging operations and monitoring tools. The Stellantis KPIs and targets will result from this roadmap. 2021 CSR targets related to the Groupe PSA scope have been set internally for operational steering, in line with the Push to Pass plan." Therefore, the goals set by PSA will not be exactly the same for Stellantis.
 
===FCA===
 
FCA did not release a new set of targets in their 2020 sustainability report due to the merge and creation of Stellantis. <ref>om/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdfP17</ref> The company's 2020 sustainability report was focused more on looking back at what they had achieved by 2020, rather then stating goals and targets set for the future.


===Due Dilligence===
An article posted by Transport & Environment showed that Stellantis ranks worst with low short-term battery electric vehicle sales. The article states that Stellantis together with other companies such as BMW, do not have ambitious phase-out targets and no clear industrial strategy.<ref>https://www.transportenvironment.org/discover/volvo-and-vw-the-only-european-carmakers-on-track-to-electrify-on-time-study/</ref>


== Conclusion ==
== Conclusion ==
PSA and FCA have both acknowledged their roles in the climate crisis and have set goals for 2020 and the future. So far the main targets set by PSA for the future are a reduction in scope 3 emissions of 37% per vehicle kilometer and that by 2050 all PSA plants will be carbon neutral. FCA has not released its goals for the future as they are waiting for the 2022 Stellantis report. For the plans available from PSA and FCA , it can be said that too little is being done to meet the requirements set by the Paris Agreement. The reporting of emissions from both PSA and FCA is currently insufficient as it lacks large portions of scope 3 emissions and does not accurately represent the companies. It is unclear if the emission and targets set by PSA and FCA will be enough to reduce their CO2 emissions and keep them within the 2 degrees. Stellantis has released its plans at the beginning of March, in which it is stated that the company aims to reduce CO2 emissions by 50% in 2030 and aims to be carbon net-zero by 2038. The only step mentioned by Stellantis to reach these goals is to increase the sale of battery electric vehicles. This on its own is not enough to create such a large reduction in CO2 emissions. Stellantis will have to broader their policies and plans in their Climate report that will come out in the spring of 2022.
Stellantis has released its plans at the beginning of March, in which it is stated that the company aims to reduce CO2 emissions from scope 1 and 2 by 75% in 2030 and aims to be carbon net-zero by 2038 relating the whole value chain. One of the steps taken by Stellantis to reach these goals is to increase the sale of battery electric vehicles but as this is only stated to be to 50% in the U.S. As 81% of Stellantis' emissions is from cars sold a goal of selling 50% electric vehicle in the U.S. is not enough to create a large reduction in CO2 emissions. Futhermore, Stellantis aims to reduce their CO2 emissions by obliging their suppliers to on their way to climate neutrality, and in 2030 they commit to Carbon Net Zero of the supply chain with minimal compensation. Little is stated on exactly how Stellantis aims to do this. A clear overview of the company's climate impact is lacking as there is no data given on the amount of CO2 emissions.


==  References ==
==  References ==

Latest revision as of 11:37, 13 July 2022

Stellantis N.V.
Bedrijf Logo
Quick Facts
TypePublic
sectorAutomotive Production System
Headquarters (Benelux Organization)Amsterdam, the Netherlands
Year of Origin2021
Emissions (All Scopes)11.68 Megatons of CO2 (2020)
NCI assessmentModerate
Total Revenue149 billion EUR (2020)
Stock ExchangeBijv. Tokio, Amsterdam
Key PeopleJohn Elkann (Chairman), Carlos Tavares (CEO), Robert Peugeot (Vice Chairman)
Number of Employees281,595
Subsidiaries
  • Comau
  • Sevel
  • VM Motori
  • PCMA
  • Teksid
  • Dongfeng Peugeot-Citroën
  • FCA Bank
  • GAC Fiat Chrysler
  • IKAP
  • Tofaş

Stellantis N.V. , stylized as Stellantis is an international automotive producer. [1] The company was created in January 2021 through a merge of Peugeot S.A.(PSA) into Fiat Chrysler Automobiles N.V.(FCA). The surviving company in the 'merger' was renamed Stellantis NV. [2] Stellantis owns 14 automotive brands (Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugot, Ram, and Vauxhall).[3] Stellantis' headquarters are located in Amsterdam, the Netherlands. In 2021 Stellantis had a total of 281,595 employees.[4] The company has industrial operations in nearly 30 countries and consumers in more than 130 markets. [5] Revenue of Stellantis was 149.42 billion euros in 2021 of which 14 billion euros was profit [6]

With annual sales of approximately eight million vehicles, Stellantis is ranked as the fourth-largest global automaker by volume.[7] With this ranking, Stellantis is without question a key player in its industry.

Company Structure

Board of Directors

The Board of Directors is responsible for the management and strategic direction of the group. [8] After the merge in 2021 a new executive board was created. Only John Elkann and Andrea Agnelli stayed on as members.[9]

Board of Directors (2021)[10]
Name Function Remuneration x1000EUR [11]
John Elkann Chairman 7,884
Carlos Taveres CEO 19,153
Robert Peugot Vice Chairman 203
Henri de Castries Senior Independent Director 273
Andrea Agnelli Non-executive Director 226
Fiona Clare Cicconi Non-executive Director 208
Nicolas Dufroucq Non-executive Director Unkown
Ann Frances Godbehere Non-executive Director 228
Wan Ling Martello Non-executive Director 221
Jacques de Saint-Exupéry Non-executive Director 198
Kevin Scott Non-executive Director 203

Top Executive Team

Executive Team (2021)[12]
Name Function
Carlos Taveres CEO
Silvia Vernetti Global Corporate Officer
Emmanual Delay Chief Performance Officer
Yves Bonnefont Chief Software Officer
Philippe de Rovira Chief Affiliates Officer
Mark Stewart Chief Operating Officer, North America
Antonio Filosa Chief Operating Officer, South America
Carl Smiley Chief Operating Officer, India & Asia Pacific
Christophe Musy Senior Vice President, ASEAN
Maxime Picat Chief Operating Officer, Enlarged Europe
Xavier Duchemin Senior Vice President, Eurasia
Samir Cherfan Chief Operating Officer, Middle East & Africa
Grégoire Olivier Chief Operating Officer, China
Christian Meunier Brand Chief Executive Officer, Jeep
Christine Feuell Brand Chief Executive Officer, Chrysler
Timothy Kuniskis Brand Chief Executive Officer, Dodge
Mike Koval Brand Chief Executive Officer, Ram
Vincent Cobée Brand Chief Executive Officer, Citroën
Olivier Fançois Brand Chief Executive Officer, Fiat & Abarth
Uwe Hochgeschurtz Brand Chief Executive Officer, Opel & Vauxhall
Linda Jackson Brand Chief Executive Officer, Peugot
Jean-Philippe Imparato Brand Chief Executive Officer, Alfa Romeo
Béatrice Foucher Brand Chief Executive Officer, DS Automobiles
Luca Napolitano Brand Chief Executive Officer, Lancia
Davide Grasso Brand Chief Executive Officer, Maserati
Brigitte Courtehoux Brand Chief Executive Officer, Free2Move
Giacomo Carelli Chief Executive Officer, Leasys
Richard Palmer Chief Financial Officer
Xavier Chéreau Chief Human Resources & Transformation Officer
Giorgio Fossati General Counsel
Oliver Bourges Chief Planning Officer
Michelle Wen Chief Purchasing & Supply Cahin Officer
Arnaud Deboeuf Chief Manufacturing Officer
Ralph Gilles Chief Design Officer
Jean-Pierre Ploué Chief Design Officer
Harald Wester Chief Engineering Officer
Nicolas Morel Deputy Chief Engineering Officer
Ned Curic Chief Technology Officer
Thierry Koskas Chief Sales & Marketing Officer
Richard Schwarzwald Chief Customer Experience Officer
Jean-Christphe Qemard Deputy Chief Customer Experience Officer
Bertrand Blaise Chief Cummunication & CSR Officer

Accountant

The independent auditor of Stellantis is Ernst & Young Accountants LLP.[13] In the Independent Auditor Report of 2021, they state that assessment of the climate-related risks and the possible effects of the energy transition did not result in a separate key audit matter.[14] The years before that, climated-related risks are not mentioned. In 2018, however, one of the key audit matters was the US emissions investigations.[15] Beginning of 2019, settlements were reached and in the report of 2019, this was not a key audit matter anymore.[16]

Main Activities

Stellantis manufactures and markets automobiles and commercial vehicles.[17] The company also produces metallurgical products and production systems for the automobile industry, as well as owns publishing and insurance companies.[18]

Government

Stellantis has not received NOW support from the Dutch government. [19] Stellantis does not have Royal status.[20]

Shareholders

  • Exor (14.35%)
  • EPF (7.16%)
  • BPI (6.15%)
  • Amundi Asset Management(3.40%)
  • BlackRock Inc. (3.31%)
  • Dongfeng (3.17%)

Paris Agreement until Today

PSA

In 2016 PSA created a roadmap called the Push to Pass plan.[21] Through this plan the company outlined their vision for 2030: to be the most efficient car manufacturer and the preferred global supplier of mobility services.[22] This plan illustrates the company's decision to update various parts of the company such as the innovation processes, the production processes and its stakeholder communication.[23] This plan has helped PSA in shifting their customer's expectations. Furthermore, PSA states that this made them sustainable competitive.[24]

FCA

FCA used the SDGs to create targets for 2020 that covered priority areas for the company.[25] The majority of these targets were met in 2020. For example, one of FCA's commitments was to minimize environmental impacts from their products by reducing CO2 emissions and improving fuel economy. [26] Within this commitment FCA selected 5 different targets for 2020, all these targets were met. One of the targets was to achieve 40% reduction in CO2 emissions vs 2006 for mass-market cars sold in Europe, according to EU regulation requirements. [27] This target was met as the company reduced the CO2 emissions by 41%. their second target was to achieve at least 5% to 15% improvement in fuel economy for major renewals of FCA US vehicles compared with replaced vehicles. This target was met as powertrain and technology upgrades for existing products contributed to fuel economy improvements up to 15%. Their third target was to develop electric/hybrid technologies that are beneficial to society. This target was met as FCA released 7 new electrified models. Their 4th target was to maintain a wide offering of CNG models in Europe and promote technological innovation. This target was met as FCA was confined among leaders for natural gas vehicles in Europe with more than 780.000 natural gas vehicals sold since 1997. Lastly, FCA had a target to reduce CO2 emissions by 30% vs 2008 on the entire Maserati product range. This target was met as FCA reduced emissions by 30% vs the 2008 on the entire Maserati product range in the main three regulated markets (U.S., China, EU)

Financial Results since 2015

In 2021 revenue of Stellantis was 149.42 billion euros of which 14 billion euros was profit.[28]

Financial situation PSA
Year Revenue Profit Dividend
2015[29] 54.676 million EUR 1.202 million EUR XXX EUR
2016[30] 54.030 million EUR 2.149 million EUR XXX EUR
2017[31] 65.210 million EUR 2.358 million EUR XXX EUR
2018[32] 74.027 million EUR 3.295 million EUR XXX EUR
2019[33] 74.731 million EUR 3.584 million EUR XXX EUR
Financial situation FCA
Year Revenue Profit Dividend
2015[34] 110.595 million EUR 377 million EUR XXX EUR
2016[35] 111.018 million EUR 1.814 million EUR XXX EUR
2017[36] 110.934 million EUR 3.510 million EUR XXX EUR
2018[37] 110.412 million EUR 3.632 million EUR XXX EUR
2019[38] 108.187 million EUR 6.630 million EUR XXX EUR

Current Emissions

Stellantis

In the newest CSR report from Stellantis, no information on the amount of CO2 emission is given. Stellantis does provide a breakdown of the percentage per scope. In this, it is shown that the largest footprint comes from vehicles sold in scope 3 as it is 85%.

Total carbon footprint of vehicles sold by Stellantis in Europe [39]

PSA

Total emissions 1.558 Megatonnes of CO2 (2020)
Scope 1 Scope 2 Scope 3
0.686689 Megatonnes of CO2 (2020) 0.200595 Megatonnes of CO2 (2020) 0.675060 Megatonnes of CO2 (2020)

Scope 1 and 2

GHG Emissions (tons of CO2)[40]
Type Scope 1 Scope 2 total emissions (Scope 1 + 2)
Automotive Division 676.835 192.745 869.580
Automotive Trade 9855 7850 17.705
Total 686.690 200.595 887.285


Scope 3

In 2019 scope 3 emissions from purchases of material and components were 4251 tons of CO2. [41] The emissions generated by business travel is divided by air travel and train transport. The CO2 emission for air travel was 5844,285 ton in 2020. [42] The CO2 emission for train transport was 51,043 tons of CO2 in 2020. The emissions from business travel in total was 5895,328 tons of CO2. [43] The GHG eq emissions for shipment and transport in 2020 was 470.242 tons of CO2 eq. for upstream transport and 194.672 CO2 eq for downstream transport.[44] This includes, road, air, rail, and sea travel. The total scope 3 emissions that were reported in the PSA CSR report is 675.060,328 tons of CO2 in 2020.

FCA

Total emissions 2.915 Megatonnes of CO2 (2020)
Scope 1 Scope 2 Scope 3
0.877603 Megatonnes of CO2 (2020) 2.035614 Megatonnes of CO2 (2020) 0.001296 Megatonnes of CO2 (2020)


Scope 1

The direct emissions were 877,603 tons of CO2 in 2020.[45]

FCA reports direct CO2 emissions based on direct energy consumption with the aid of the IPCC 2006 conversion factors. The company reports indirect CO2 emissions according to the standards and guidelines outlined in the GHG Protocol.[46] FCA states that emissions of greenhouse gases (GHGs) other than CO2 have a negligible impact and are therefore not included. CO2 represents more than 99% of the Group’s total GHG emissions.[47]

Scope 2

The indirect emissions were 2,035,614 tons of CO2 in 2020.[48]

Indirect emissions were calculated using the market-based method.[49]


Scope 3

Indirect CO2 Emissions from Logistics Processes (Thousands of tons of CO2)[50]
Type 2020 2019 2018
Upstream 716 791 853
Downstream 521 641 678
Mopar 59 59 57
Total 1296 1491 1588
T&E's carmaker Ev readiness Index [51]

The emissions for both PSA and FCA are surprisingly low for automotive producers. This can be attributed mostly to the low reporting of the companies' scope 3 emissions. PSA reports for their scope 3 emissions purchased goods and services and business travel, these are only two of the 15 different sectors that are included in scope 3 emissions.[52] FCA only reports upstream and downstream emission from Logistics Processes in really low numbers. This leaves out a large portion of the CO2 emissions from both companies and therefore their emissions cannot be seen as complete.

Most of the emissions from PSA and FCA, and therefore also Stellantis fall under the use of products. As there is data lacking on this section of their emissions some calculations were done to get an estimate. According to an article posted by de correspondent, a petrol car produces around 50 tons of CO2 over its lifespan. [53] In 2020 Stellantis sold 6,2 million cars.[54] This means that in 2020 Stellantis produced 310 megatons of CO2. This shows just how much information is missing from the current annual reports, as they are not reporting on their largest section.

Climate Policy and Plans

Given its main sources of greenhouse gas emissions, Stellantis' climate plans are focused on three issues[55]:

1. Cutting CO2 vehicle emissions

2. Moving Forward into a carbon-efficient production system

3. Improving the environmental performance of the supply chain

For each of these issues, Stellantis has created a short-term, medium-term, and long-term commitment.

Climate Targets [56]
CRS Issue Strategic KPIs Short-Term Medium-Term Long-Term
CRS Issue #1 Percentage of nameplates with LEV offering (focus on U.S. and EU) 2025: EU(98%), U.S.(95%) 2030: EU(100%), U.S. (100%) 2038: EU(100%), U.S. (100%)
CRS Issue #1 Share of LEV in global sales mix (focus on U.S. and EU) 2025: EU 44% LEV inc. 34% BEV, U.S. 37% LEV incl. 14% BEV 2030: EU 100% BEV, U.S 50% BEV 2038: EU 100% BEV, U.S. 100% BEV
CRS Issue #2 Absolute scope 1 and 2 GHG emissions (tons of CO2-eq) 2025: -50% vs 2021 2030: -75% vs 2021 2038: Carbon Net Zero, with single digit % compensation of residual emissions vs 2021 level
CRS Issue #2 Share of decarbonized electricity used (%) 2025: 50% 2030: 100% 2038: 100%
CRS Issue #3 Share of Annual Purchased Value from suppliers with CO2 reduction targets compliant with the Paris Agreement 2025: 80% Annual Purchase Value from strategic (Level 1 and Level 2) suppliers 2030: 95% Annual Purchase Value from strategic (Level 1 and Level 2) suppliers 2038: Carbon Net-Zero of the supply chain with minimal compensation
CRS Issue #3 CO2 emissions of purchased parts 2025: Award business compliant with CO2 emission targets defined for each new EV project 2030: -40% of CO2 emissions of purchased parts per EV vs 2021 2038: Carbon Net-Zero of the supply chain with minimal compensation

To establish its targets, Stellantis referred to the Science-Based Targets initiative (SBTi) methodology.

NewClimate Institute (NCI) Report

Due Diligence

Due Diligence

Scandals and controversies

In 2021 FCA was fined $30 million after the company pled guilty to federal criminal charges related to corruption.[57] As part of the punishment an independent monitor, Frances McLeod, will keep tabs on FCA for the next year, therefore also affecting Stellantis. FCA corrupted United Auto Workers (UAW) leaders by giving millions of dollars in gifts and cash. One of the attorneys on the case stated that "the sentencing of FCA marks a significant milestone in this historic case". [58]

An article posted by Transport & Environment showed that Stellantis ranks worst with low short-term battery electric vehicle sales. The article states that Stellantis together with other companies such as BMW, do not have ambitious phase-out targets and no clear industrial strategy.[59]

Conclusion

Stellantis has released its plans at the beginning of March, in which it is stated that the company aims to reduce CO2 emissions from scope 1 and 2 by 75% in 2030 and aims to be carbon net-zero by 2038 relating the whole value chain. One of the steps taken by Stellantis to reach these goals is to increase the sale of battery electric vehicles but as this is only stated to be to 50% in the U.S. As 81% of Stellantis' emissions is from cars sold a goal of selling 50% electric vehicle in the U.S. is not enough to create a large reduction in CO2 emissions. Futhermore, Stellantis aims to reduce their CO2 emissions by obliging their suppliers to on their way to climate neutrality, and in 2030 they commit to Carbon Net Zero of the supply chain with minimal compensation. Little is stated on exactly how Stellantis aims to do this. A clear overview of the company's climate impact is lacking as there is no data given on the amount of CO2 emissions.

References

  1. ↑ https://www.stellantis.com/en/company/about-us
  2. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_2020_12_31_Annual_Report.pdf P6
  3. ↑ https://www.stellantis.com/en/search?q=
  4. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_NV_2021_Annual_Report.pdf p29
  5. ↑ https://www.stellantis.com/en/company/about-us
  6. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_NV_2021_Annual_Report.pdf p12
  7. ↑ https://www.forbes.com/wheels/news/stellantis-fiat-chrysler-merges-with-psa-becoming-worlds-fourth-largest-automaker/
  8. ↑ https://www.stellantis.com/en/company/governance/leadership
  9. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_2020_12_31_Annual_Report.pdf P160
  10. ↑ https://www.stellantis.com/en/company/governance/leadership
  11. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_NV_2021_Annual_Report.pdf p163
  12. ↑ https://www.stellantis.com/en/company/governance/leadership
  13. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/investors/financial-reports/Stellantis_NV_2021_Annual_Report.pdf p3
  14. ↑ Stellantis. (2022). Annual Report 2021. p. 384. Retrieved from https://www.stellantis.com/en/investors/reporting/financial-reports
  15. ↑ FCA. (2019). FCA N.V. Annual Report 2018. p. 314. Retrieved from  https://www.stellantis.com/en/fca-psa-archives/fca/financial-reports)
  16. ↑ FCA. (2020). FCA N.V. Annual Report 2019. p. 323. Retrieved from https://www.stellantis.com/en/fca-psa-archives/fca/financial-reports)
  17. ↑ https://www.bloomberg.com/profile/company/FCAU:AV
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  24. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf
  25. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf
  26. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P24
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  34. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2015/FCA_2015_Annual_Report.pdf
  35. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2016/FCA_2016_Annual_Report.pdf
  36. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2017/FCA_NV_2017_Annual_Report.pdf
  37. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2018/FCA_NV_2018_Annual_Report.pdf
  38. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/archives/fca/financial-reports/2019/FCA_NV_2019_Annual_Report.pdf
  39. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/stellantis/2021/Stellantis_2021_CSR_Report.pdf
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  44. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/psa/groupe_psa_2020_csr_report.pdf P89
  45. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133
  46. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133
  47. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133
  48. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133
  49. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/fca/fca_2020_sustainability_report.pdf P133
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  55. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/stellantis/2021/Stellantis_2021_CSR_Report.pdf
  56. ↑ https://www.stellantis.com/content/dam/stellantis-corporate/sustainability/csr-disclosure/stellantis/2021/Stellantis_2021_CSR_Report.pdf p37
  57. ↑ https://www.wardsauto.com/industry-news/stellantis-unit-fca-fined-30-million-corruption-scandal
  58. ↑ https://www.wardsauto.com/industry-news/stellantis-unit-fca-fined-30-million-corruption-scandal
  59. ↑ https://www.transportenvironment.org/discover/volvo-and-vw-the-only-european-carmakers-on-track-to-electrify-on-time-study/
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