Faraday Technology Corp
Faraday Technology's GHG Emissions Data Preview
In 2023, Faraday Technology completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Faraday Technology has also provided a category-level breakdown for 5 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2023 | 2022 | 2021 | 2020 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 2 | ||||
Location-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
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aVerified Sources Behind Faraday Technology’s Greenhouse Gas (GHG) Emissions Data
Every figure on this dashboard has a transparent audit trail. With Tracenable, each data point is traceable back to its original source, viewable directly inside our platform. Explore Faraday Technology’s data sources below and access millions more through our Disclosure Search.
Insights into Faraday Technology's Operational Emissions
In 2023, the total operational greenhouse gas (GHG) emissions of Faraday Technology amounted to 3,466.43 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2). a
Compared to 2022, the total operational greenhouse gas (GHG) emissions of Faraday Technology increased by 1.05%, suggesting that the company faced challenges in reducing its emissions from its core operations. a
Faraday Technology's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Faraday Technology's Scope 1 emissions?
In 2023, the total Scope 1 emissions of Faraday Technology were 237.34 metric tons of CO₂ equivalent (tCO₂e). a
Has Faraday Technology reduced its Scope 1 emissions over time?
Since 2021, Faraday Technology's Scope 1 emissions have decreased by 7.08%, reflecting a declining long-term trend in Scope 1 emissions over time. a
Compared to the previous year (2022), Faraday Technology's Scope 1 emissions remained relatively stable, indicating that Faraday Technology's emissions have plateaued with no significant change in its operational footprint. a
What are Faraday Technology's Scope 2 emissions?
In 2023, Faraday Technology reported Scope 2 greenhouse gas (GHG) emissions of 3,229.09 tCO₂e using the location-based method. a
Has Faraday Technology reduced its Scope 2 emissions over time?
Since 2021, Faraday Technology's Scope 2 greenhouse gas (GHG) emissions ( Location-Based) have remained relatively stable, indicating that Faraday Technology 's emissions have plateaued with no significant change in its energy consumption footprint. a
Compared to the previous year (2022), Faraday Technology's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Faraday Technology 's emissions have plateaued with no significant change in its energy consumption footprint. a
What methodology does Faraday Technology use for Scope 2 reporting?
In 2023, Faraday Technology reported its Scope 2 emissions using the location-based method. a
Faraday Technology's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
Insights into Faraday Technology's Value Chain Emissions
In 2023, Faraday Technology reported 71,497.31 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain. a
The 2023 disclosure of Faraday Technology includes a breakdown across 5 of the 15 Scope 3 categories defined by the GHG Protocol, up from 2 in 2022, reflecting improved emissions accounting practices and greater transparency across the company's value chain a
Faraday Technology's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Faraday Technology's Scope 3 emissions?
In 2023, Faraday Technology reported total Scope 3 emissions of 71,497.31 metric tons of CO₂ equivalent (tCO₂e). a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment. a
Compared to the previous year (2022), Faraday Technology's Scope 3 emissions increased by 11,024.35%, suggesting that the company faced challenges in reducing emissions across its value chain. a
What categories of Scope 3 emissions does Faraday Technology disclose?
In 2023, Faraday Technology reported emissions for 5 out of the 15 Scope 3 categories defined by the GHG Protocol. a
This partial disclosure allows for some insight into the company's indirect impacts.
What are the main sources of Faraday Technology's Scope 3 emissions?
In 2023, the largest contributors to Faraday Technology's Scope 3 emissions were: a
- Purchased Goods and Services (Cat. 1): 70,321.13 tCO₂e (98.35%)
- Fuel- and Energy-Related Services (Cat. 3): 645.52 tCO₂e (0.9%)
- Employee Commuting (Cat. 7): 484.97 tCO₂e (0.68%)
Faraday Technology's Scope 3 Emissions by Categories
Insights into Faraday Technology’s GHG Emissions Intensity Compared to Industry Peers
In 2023, Faraday Technology reported Scope 1 greenhouse gas (GHG) emissions of 237.34 tCO₂e and total revenues of USD 390 millions. This translates into an emissions intensity of 0.61 tCO₂e per millions USD. a
Faraday Technology's Scope 1 Emissions Intensity Compared to Peers
How does Faraday Technology's GHG emissions intensity compare to its peers?
In 2023, Faraday Technology reported a Scope 1 emissions intensity of 0.61 tCO₂e per millions USD. Compared to the peer group median of 1.88 , this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors. a
Where does Faraday Technology rank on GHG emissions intensity within its industry?
In 2023, Faraday Technology ranked 6 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD). a
Faraday Technology is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency. a
Insights into Faraday Technology's Total Carbon Footprint
In 2023, Faraday Technology reported a total carbon footprint of 74,963.74 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 1,740.39% increase compared to 2022, suggesting a rise in emissions across its operations or value chain. a
The largest contributor to Faraday Technology's total carbon footprint was Scope 3 emissions, accounting for 95.38% of the company's total carbon footprint, followed by Scope 2 emissions at 4.31%. a