- 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
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 Roadmap 2025”.
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 (ESG). 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 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 action field climate neutrality, for example, the company announced in October 2021 its target to achieve climate-neutral 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.
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 “Sustainability & 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