CDP, a non-profit environmental organisation, runs an environmental database. Once a year, it collects data and information from companies on their greenhouse gas emissions and climate risk profiles, as well as on their reduction targets and strategies.
Schaeffler CEO Klaus Rosenfeld said: “This confirmation of Schaeffler’s “A” rating in the area of climate change is a strong signal and confirmation of the successful manner in which we are implementing our sustainability strategy. I am nevertheless aware that there is still a lot to be done to achieve our ambitious goals.”
CDP scores are used in investment and procurement decisions with a view to achieving a climate-friendly, sustainable and resilient economy. CDP uses independent methodologies to assess these companies, awarding scores from A to D-.
The overall score awarded to Schaeffler for water security in 2023 was A-.
Overall, Schaeffler kept pace with the increased level of requirements in climate change categories in areas such as initiatives aimed at reducing and reporting on emissions. The transparency demonstrated by Schaeffler in climate-related risk management and in the disclosure of opportunities and risks also played a supporting role in the pleasing CDP result. A further contribution to the positive result was also made by the Schaeffler Climate Action Plan. It includes the company’s target of achieving climate-neutral production by 2030 and a climate-neutral supply chain by 2040.