Part of NFRThis Sustainability Report was approved by the Board of Managing Directors of Schaeffler AG and refers to Schaeffler AG and its material subsidiaries (also referred to as the “Schaeffler Group”). It contains the combined separate non-financial report of Schaeffler AG and is publicly accessible on the company website and a dedicated microsite. The Sustainability Report 2023 was published on March 5, 2024.
This reporting is conducted with reference to the Global Reporting Initiative (GRI) standards from 2021. The Sustainability Report also takes into account the United Nations Sustainable Development Goals (SDGs) as well as the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The report structure incorporates the ten action fields of the Schaeffler sustainability strategy, grouped by the dimensions of environment, social, and governance.
This report is available in German and English. In case of discrepancies, the German version is binding.Part of NFR
Part of NFRThe results of the materiality analysis conducted in the reporting year form the basis for the combined separate non-financial report of Schaeffler AG. The requirements of the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) were incorporated as a form of guidance for the assessment methodology. For the Sustainability Report 2023, topics were viewed as material if they were essential for understanding the course of business, business results, and the company’s situation, and if they had a significant impact from an inside-out perspective (“impact materiality”). This fulfills the requirements of the Commercial Code (Sections 289c to 289e in conjunction with 315c). The framework applied is the Global Reporting Initiative (GRI) standards from 2021.Part of NFR
Part of NFRThe reporting period corresponds to the 2023 fiscal year, from January 1 to December 31, 2023. All of the relevant data provided by the editorial deadline on February 20 2024, was taken into account.
When preparing the report, it is necessary in some instances to make appropriate estimates/projections, which are documented internally, to present the complete reporting period. Actual values may differ from these estimates and will be corrected in the following year’s reporting. Methodical and structural changes are corrected in principle. Comments are provided for deviations greater than 5 %. Differences may occur due to commercial rounding of amounts and percentages.Part of NFR
Part of NFRKey data on greenhouse gas emissions, energy consumption, freshwater withdrawal, waste generation, and recycling rates in the field of environment and energy include the 72 plants described in the EnEHS management manual as well as material R&D sites, and the warehouse in Kitzingen. Coverage of plants with certifications based on the ISO 14001, ISO 50001, and ISO 45001 standards as well as entries in the EMAS location register can be found in the report. Accordingly, the environmental and energy data presented do not include Ewellix plants, as these are not yet integrated into the scope of the EnEHS management manual. In comparison to the key figures reported for the Schaeffler Group, consumptions at Ewellix plants do not have a significant impact on the values indicated.
A detailed description about how greenhouse gas emissions are calculated can be found in the report. Any information about carbon emissions in this report refers to CO2 equivalents (CO2e).
The reporting date for key figures relating to environmental and energy data is generally December 31, 2023. Comments are provided for any deviations.Part of NFR
Part of NFRKey employee data include all material Schaeffler AG subsidiaries in Germany and abroad (also referred as the “Schaeffler Group”). If the details and representations of concepts pertain to other entities, this is pointed out accordingly.
The persons referred to as employees in this report are members of the internally defined “workforce” category. Temporary staff, apprentices, trainees, and contract workers as well as inactive employees are not included in all of the key figures, which is indicated accordingly. The reporting date for key figures relating to employees is generally December 31, 2023. Comments are provided for any deviations.Part of NFR
Part of NFRThe Sustainability Report 2023 contains a separate section with the information to be published in conjunction with Article 8 of EU Taxonomy Regulation 2020/852 in accordance with Article 5 (2) of Delegated Regulation 2023/2486.
Key data referring to EU Taxonomy reporting comply with the Schaeffler Group scope of consolidation used for financial reporting.Part of NFR
Part of NFRIn this Sustainability Report, Schaeffler AG discloses the required non-financial information for the 2023 fiscal year for both the Schaeffler Group and Schaeffler AG in accordance with Sections 289, 315 of the German Commercial Code. The company exercises the option, in accordance with Section 315b (3), to produce a combined separate non-financial report (also referred as “NFR”) apart from the Group management report. The NFR was thereby combined with the separate non-financial report of the parent company in accordance with Section 315b (1) (2) and integrated into the Sustainability Report. The corresponding passages are marked with Part of NFRPart of NFR. References to information outside of these icons are to be understood as additional information. These are not mandatory components of the NFR. In accordance with Section 289d HGB, Schaeffler AG uses the 2021 universal standards of the Global Reporting Initiative (GRI) in the option “with reference to” in order to prepare the non-financial declaration.
The combined separate non-financial report for the 2023 fiscal year for the Schaeffler Group and Schaeffler AG was reviewed by the Supervisory Board of Schaeffler AG and by the accounting firm KPMG AG on behalf of the Supervisory Board with respect to the legally required information in accordance with Sections 315b, 315c in conjunction with 289b to 289e of the German Commercial Code for the purpose of obtaining limited assurance (as part of a limited assurance engagement). This follows the International Standard on Assurance Engagements (ISAE) 3000 (Revised): “Assurance Engagements other than Audits or Reviews of Historical Financial Information” issued by the International Auditing and Assurance Standards Board (IAASB).Part of NFR
Part of NFRThis document contains forward-looking statements that reflect management’s current views with respect to future events. Such statements are subject to risks and uncertainties that are beyond the Schaeffler Group’s ability to control or estimate precisely, such as future market and economic conditions, the behavior of other market participants, the ability to integrate acquired businesses and achieve anticipated synergies, and the actions of government regulators. If any of these cases or other risks and uncertainties occur, or if the assumptions underlying any of these statements prove incorrect, then actual results may be materially different from those expressed or implied by such statements.
The Schaeffler Group does not intend or assume any obligation to update any forward-looking statements to reflect events or circumstances after the date of this report.
Forward-looking statements and targets do not take the planned merger with Vitesco Technologies Group AG into account.Part of NFR
This report contains references to the Annual Report and other online information, provided this is necessary for understanding.
The following symbols indicate additional information when reading:
The company accepts questions and comments about content of the Sustainability Report 2023:
Dr. Axel Lüdeke
Head of Group Communication & Public Affairs
Schaeffler AG
Herzogenaurach
phone: +49 (0)9132 82-8901
e-mail: axel.luedeke@schaeffler.com
Renata Casaro
Head of Investor Relations
Schaeffler AG
Herzogenaurach
phone: +49 (0)9132 82-4440
e-mail: ir@schaeffler.com
