Sustainability strategy

  • In 2022, the sustainability strategy was further developed along the dimensions of Environment, Social, and Governance
  • Ten action fields were defined and adopted by the Executive Board

Strategic framework

Part of NFBFor the Schaeffler Group, sustainable company success means assuming economic, environmental, and social responsibility throughout the entire value chain, which is why sustainability is not only one of the Schaeffler Group’s four company values, but also a key component of the “Schaeffler .

Strategic framework for the sustainability strategy

To be able to maintain these standards in the future as well, the sustainability strategy was further developed into ten action fields in the reporting year for a holistic approach throughout the dimensions of Environment, Social, and Governance (). The defined climate strategy, in particular, served as the starting point for further development, with special attention paid to the overarching coordination and networking of the individual subtopics.Part of NFB Ende

Action fields

10

action fields developed as a strategic framework for the sustainability strategy

Part of NFBTen action fields were defined for the three dimensions of Environment, Social, and Governance (ESG) and specify the new structure of the report. In 2023, additional measurable targets and key figures will be defined for each of the action fields. The company has already developed targets and key figures for some of the action fields. In the context of the , for example, the company announced in October 2021 its target to achieve operations by 2040, which entails reducing greenhouse gas emissions to the highest degree possible and offsetting the remaining emissions, for instance, with carbon removal projects.

Action fields of the Schaeffler Group

The action field climate neutrality, in particular, requires significant efforts throughout the company and structured management, which is why a holistic, target-oriented Climate Action Plan was developed and approved by the Executive Board in 2022. In addition to projecting emissions as an analytical basis, the purpose of the Climate Action Plan is to prepare specified implementation measures and estimate the necessary costs and investments.

In addition, comprehensive measures for managing and empowering the organization have been identified. The sustainability strategy department is responsible for monitoring the implementation of the derived measures by coordinating the & Engagement” subprogram as part of the “Execution Program 2025”. The plan in 2023 is to define specified content for other action fields and to implement additional measures.Part of NFB Ende

Roadmap 2025
The Roadmap 2025 comprises the Schaeffler Group’s strategy, execution program as well as financial mid-term targets and intends to ensure the strong position of the company in the future.
Environment, Social and Governance (ESG)
The Schaeffler Group considers factors impacting the company in the areas of environment, social affairs and corporate governance.
Action Field Climate Neutrality
In order to contribute to climate protection, the Schaeffler Group has set itself the following emission reduction targets: By 2030, its own production (Scope 1 and 2 market-based) will be climate-neutral. By 2040, the substantial parts of the remaining supply chain (Scope 3 upstream) will follow suit. To achieve this goal, Schaeffler focuses on optimizing energy requirements and using energy from renewable sources for its own production.
Climate neutrality
The Schaeffler Group has set itself the goal of reducing the climate impact of its corporate activities to an absolute minimum. Specific emission reduction targets have been set for this purpose: The production of the Schaeffler Group (Scope 1 and 2 market-based) will be climate-neutral by 2030, and by 2040, so will the remaining supply chain (Scope 3 upstream, categories 3.1, 3.3, 3.4). In both cases, this means an emission reduction within the respective scope of at least 90 % (base year 2019). Unavoidable emissions are offset by means of compensation measures. The extent and nature of these measures are to be determined in more detail by the respective target years (2030 and 2040).
Sustainability
For the Schaeffler Group, doing business sustainably means using natural resources responsibly and sparingly so that they can also be used by future generations. Ten action fields were defined along the ESG framework (Environment, Social, and Governance) in order to strengthen this aspect of sustainability within the Schaeffler Group.. These action fields represent key topics for the Schaeffler Group and are backed by ambitious targets. The company takes the entire value chain into consideration in its operations.

GRI