Schaeffler received an “A” grade from the CDP for its performance in climate change and water security. Schaeffler, one of the leading global suppliers of the automotive and industrial sectors, was included in the CDP's list of companies with Class A performance in the field of climate change and water security. With this rating, Schaeffler entered the top one percent of companies participating in the program. The Schaeffler Group, which was deemed worthy of an award in the field of environmental transparency, received a rating from the CDP, an indication of the company's efforts in the field of sustainable energy.
Schaeffler Group, one of the leading global suppliers of the automotive and industrial sectors; Awarded by CDP, the world's leading non-profit global environmental organization, according to declaration and performance criteria in the fields of climate change and water security. Schaeffler upgraded its climate change and water security rating from A- to A, making it one of the very few companies to have A status in both areas among the companies evaluated as a result of the rating made by the organization. In the process, data belonging to more than 18.700 companies in total were evaluated and disclosed. CDP manages the world's largest database of environmental performance statements. Each year, the organization collects data on the CO2 emissions, climate risk profiles, reduction targets and strategies of companies around the world.
Environmental leadership is a journey
Klaus Rosenfeld, CEO of Schaeffler, made a statement on the subject: “This outstanding success of Schaeffler sends an important message to our stakeholders who follow our CDP grades closely. Getting on the A-list is seen as a difficult transition to the CDP scoring system that few companies have achieved. This success shows us that we are on the right track to reach our sustainability goals in our 2025 Roadmap. However, we are also aware that we have a long road ahead of us and it will be a difficult process to implement our sustainability strategy in today's conditions.” he said. This welcome news about CDP performance also reflects the company's ongoing changes in environmental data collection, greater integration of climate solutions into business processes, and transparent reporting.
Goal to make supply chains climate neutral by 2040
Many factors played a role in Schaeffler's achievement of this CDP score, such as its goal to make its supply chains climate neutral by 2040, its assessment of opportunities in the field of e-mobility, and the steps it took under the 2021 energy efficiency program. CDP also took into account the fact that all of the electricity used in Schaeffler's plants in Europe is derived from renewable energy sources. Also, for the first time this year, a module on biodiversity was included in the Climate change survey. A number of factors were taken into account in calculating the score in the water category, including some of the measures Schaeffler implemented in the area of water use in 2021, the company's detailed explanation of the management of water-related risks, and the inclusion of water use in performance targets for the short-term variable element. It was also taken into account whether a climate scenario analysis was used.
The gold standard of environmental transparency
CDP is defined as a rating that is accepted as the gold standard worldwide in the field of environmental transparency. In 2022, more than 130 investors controlling assets with a total value of more than 680 trillion and 6,4 major buyers managing an acquisition budget of more than $280 trillion in total have asked thousands of companies to disclose their environmental data through CDP. CDP examines each participating company in detail and independently, taking into account criteria such as the comprehensiveness of the company's statements, the company's awareness and management of environmental risks, and the company's adoption of best practices within the scope of its environmental responsibility and leadership in environmental issues, based on actions such as setting ambitious targets. It gives a grade between D- and D-.
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