Bayerische Motoren Werke AG, commonly known as BMW, is a German multinational corporation that specializes in the production of luxury vehicles, motorcycles, and engines. Founded in 1916, BMW has established itself as one of the world's leading automotive companies, with a strong reputation for quality, innovation, and performance. The company is headquartered in Munich, Germany, and has operations in over 150 countries worldwide.

As a leading player in the passenger vehicle sector, BMW is acutely aware of the need to decarbonize its operations and reduce its carbon footprint. The company has set ambitious targets to reduce its carbon emissions and increase its use of renewable energy sources. BMW's decarbonization strategy is based on a three-pronged approach: reducing emissions from its vehicles, reducing emissions from its production processes, and reducing emissions from its energy consumption.

To reduce emissions from its vehicles, BMW is investing heavily in the development of electric and hybrid vehicles. The company's electric vehicle lineup includes the BMW i3, the BMW iX3, and the BMW i4, while its hybrid vehicle lineup includes the BMW 330e, the BMW 530e, and the BMW X5 xDrive45e. BMW is also working on developing new technologies to improve the efficiency of its internal combustion engines, such as the Efficient Dynamics system, which uses regenerative braking and start-stop technology to reduce fuel consumption and emissions.

To reduce emissions from its production processes, BMW is implementing a range of measures to improve energy efficiency and reduce waste. The company has set a target to reduce its CO2 emissions per vehicle produced by 80% by 2030, compared to 2019 levels. To achieve this goal, BMW is investing in renewable energy sources such as wind and solar power, and is implementing energy-saving measures such as LED lighting, heat recovery systems, and optimized production processes.

One of the key ways in which BMW is increasing its use of renewable energy is through corporate power purchase agreements (PPAs). A PPA is a long-term contract between a company and a renewable energy provider, which guarantees a fixed price for the supply of renewable energy over a set period of time. By entering into PPAs, BMW is able to secure a reliable and cost-effective supply of renewable energy, while also supporting the development of new renewable energy projects.

BMW has signed a number of corporate PPAs in recent years, including a 10-year agreement with a wind farm in Scotland, which will supply the company's manufacturing plants in the UK with renewable energy. BMW has also signed a PPA with a solar farm in Texas, which will supply renewable energy to the company's manufacturing plants in the US. These agreements are part of BMW's broader strategy to increase its use of renewable energy and reduce its carbon footprint.

In addition to its efforts to reduce emissions and increase its use of renewable energy, BMW is also committed to promoting sustainable corporate energy practices more broadly. The company is a member of the RE100 initiative, which brings together leading companies committed to sourcing 100% of their electricity from renewable sources. BMW has also signed the Science Based Targets initiative, which commits the company to setting science-based emissions reduction targets in line with the goals of the Paris Agreement.

Overall, BMW is a leading player in the passenger vehicle sector, with a strong commitment to decarbonization and sustainability. The company's ambitious targets to reduce emissions and increase its use of renewable energy are a testament to its commitment to sustainability, and its efforts to promote sustainable corporate energy practices more broadly are a positive step towards a more sustainable future.