Our Climate Action
In the Sustainability Plan 2023–2025, approved by the Parent Company’s Board of Directors in February 2023, LU-VE defined targets to reduce emissions related to the use of fossil fuels (so-called Scope 1 emissions) for production processes and heating, as well as emissions related to electricity consumption (so-called Scope 2 emissions), using 2022 as the baseline year.
These targets are part of a broader decarbonisation pathway that envisages a 42% reduction in emissions by 2030 compared to the baseline, in line with the objective of achieving climate neutrality by 2050. The specific Scope 1 and Scope 2 greenhouse gas emission reduction targets were defined in accordance with science-based targets, using the tools made publicly available by the Science Based Targets initiative (SBTi), to ensure alignment with a 1.5°C global warming pathway, consistent with the Paris Agreement.
In addition to Scope 1 and Scope 2 emissions, LU-VE generates emissions along its entire value chain, both upstream and downstream, known as Scope 3 emissions. Although these emissions are indirect, as they are not generated directly by the Company’s operations, they have a significant impact, accounting for 99% of total emissions (Scope 1, Scope 2 and Scope 3). These emissions are mainly related to the energy consumption of products by end customers and to the procurement of materials for product manufacturing.
LU-VE is committed to developing a structured transition plan aimed at reducing Scope 3 greenhouse gas emissions by the end of 2026.
Climate levers
Considering the own operations, the emissions reduction (Scope 1 and Scope 2 emissions) is achieved through multiple levers:
- use of energy from renewable sources. In 2024, 46% of the total electric energy consumed came from renewable energy sources, produced by on-site photovoltaic plants or purchased with Guarantees of Origin. Electric energy purchased from renewable sources certified through Guarantees of Origin amounted to 15,056 MWh, and accounted for 42% of the total electric energy consumed; while the total renewable energy produced in 2024 by the Group's photovoltaic plants amounted to 1,547 MWh, and accounted for 4% of the total electric energy consumed.
- energy efficiency. Energy consumption optimisation initiatives were implemented for production plants and offices.
Considering emissions along the value chain (Scope 3 emissions), LU-VE set target to increase turnover from products that use natural refrigerants and/or high energy-efficient motors, i.e. with a lower emission impact. Fans with high-efficiency motors (electronic “EC” motors) represent one of the main innovations of recent years and mark an important step towards achieving ventilated heat exchangers with improved efficiency and minimal energy consumption for ventilation.
In addition, LU-VE develops and promotes solutions to support decarbonisation:
- heatpumps for domestic, commercial and industrial use, also contributing to the development of the new heat pump range for one of Europe’s leading players in domestic heating applications and production of domestic hot water;
- wind turbine cooling systems;
- high-voltage electrification systems to support European electrification plans, which are key for the energy transition;
- charging stations for electric vehicles, especially fast charging stations, which require a heat exchanger to cool the unit;
- retrofitting of refrigerated counters that reduce energy impacts at points of sale/supermarkets, through the installation of glass doors and LED lighting systems, starting in the European market.
In the area of decarbonisation solutions, an agreement has been signed to supply emergency generator cooling systems for the Hinkley Point C nuclear power station in Somerset, England.