CDP score – Schaeffler achieves “A” for performance on climate change and water security

2022-12-13 | Herzogenaurach

• For the first time, Schaeffler has made it onto CDP’s A-list for performance on climate change and water security
• Score puts Schaeffler among top one percent of participating companies
• Schaeffler Group earns recognition for environmental transparency
• CDP score is an endorsement of Schaeffler’s sustainability strategy

The Schaeffler Group has been recognized by the global not-for-profit environmental organization CDP for its leadership in disclosure and performance relating to climate change and water security. Schaeffler has improved its score from “A-” to “A” regarding both climate change and water security, an achievement that puts it among just a handful of the companies analyzed as part of the scoring process to have achieved “A” status in two categories. In total, data from more than 18,700 companies were analyzed and disclosed. CDP runs the world’s largest environmental disclosure database. Once each year, it collects data on the CO2 emissions, climate risk profiles and reduction targets and strategies of companies all around the world. “This outstanding result for Schaeffler sends an important signal to our stakeholders, who pay close attention to CDP scores,” said Schaeffler CEO Klaus Rosenfeld.

Environmental leadership is an ongoing journey
Making it onto the A-list is the hardest transition to achieve in the CDP scoring system and is a feat managed by very few companies. “This shows that we are on the right track with our sustainability focus as part of our Roadmap 2025,” Klaus Rosenfeld said. “Having said that, we know that we still have a long way to go, and that implementing our sustainability strategy in the current environment will continue to pose a significant challenge.” Schaeffler’s pleasing CDP performance also reflects ongoing improvements in the company’s environmental data collection, greater integration of climate considerations into its business processes, and transparent reporting.

Climate-neutral supply chains by 2040
Schaeffler achieved the latest CDP score due to a number of factors, including its target of achieving climate neutrality in its supply chain by 2040, its embrace of the opportunities posed by e-mobility, and the actions taken under its 2021 energy efficiency program. CDP also looked favorably upon the fact that all electricity used at all of Schaeffler’s sites in Europe came from renewable sources. This year, for the first time, the climate change questionnaire also included a module on biodiversity. The score awarded in the water category is based on a range of factors, including selected water-related measures implemented by Schaeffler in 2021, a detailed description of the company’s management processes for water-related risks, and the inclusion of water among the performance targets for the short-term, variable component of management compensation. The use of climate scenario analysis was also taken into account.

Gold standard for environmental transparency
The CDP scoring system is regarded worldwide as the gold standard in corporate environmental transparency. In 2022, over 680 investors with over US$130 trillion in assets and more than 280 major purchasers representing over US$6.4 trillion in procurement spend called on thousands of companies to disclose their environmental data through the CDP platform. CDP uses detailed and independent methodologies to assess each participating company, awarding scores from A to D- based on the level of detail and comprehensiveness of the company’s disclosures, the company’s recognition and management of environmental risks, and its demonstration of best practices in environmental stewardship in combination with leadership on environmental matters, as evidenced by steps such as committing to ambitious targets.

Full details of the Schaeffler Group’s commitment to sustainability are available in its latest sustainability report:
www.schaeffler-sustainability-report.com/2021