Introduction by the Chief Executive Officer
As a global automotive and industrial supplier, Schaeffler has been demonstrating pioneering spirit with an extraordinary passion for technology and innovation for more than 75 years. Thanks to its stock market listing and long-standing tradition, the family business represents stability and change – and views sustainability as both an obligation and an opportunity. With progressive climate change and social challenges on the rise worldwide, we firmly believe that resolute, fast, and targeted action in all areas of life is more critical to success than ever before, which is why we adapted and further refined our sustainability strategy in 2022. Consistently focusing our strategy on the three ESG dimensions of environment, social, and governance represents a core element of further development. As a basis for implementing our strategy, we defined ten action fields that take into account not only our areas of focus, but also the requirements of external stakeholders. Our action fields are backed by concrete targets and measurable key figures. Further development also entails increasing decentralization and establishing an agile group-wide network consisting of representatives of all the divisions, functions, and regions as well as our locations. In this way, we plan to ensure the most efficient implementation possible of the required measures. In addition, we made the decision in summer last year to transfer the group-wide responsibility for sustainability to the Chief Executive Officer in order to underline the strategic significance of the topic and manage implementation of the required measures with increased focus and a more systematic approach.
The year 2022 was dedicated not only to further development of our sustainability strategy, but also to climate protection and decarbonization. With the global Climate Action Day on June 22, 2022, we were able to mobilize the entire Schaeffler organization along with all of its employees. The more than 23,000 ideas submitted after the event speak for themselves. Another highlight was our executive meeting in Bolzano (Italy) in July, which addressed exclusively the topic of sustainability. Selected management teams presented the 15 Climate Challenges, which refers to the 15 wonderfully prepared marketplaces, impressively demonstrating their technological expertise and their eagerness to succeed. In parallel, a group-wide Climate Action Plan comprising an integrated CO2 emissions model, short-, medium-, and long-term reduction targets, various sets of measures, and areas of responsibility was integrated into our Roadmap 2025 in 2022.
These three cornerstones – Climate Action Day, 15 Climate Challenges, and adoption of the Climate Action Plan – represent an additional three milestones in our 2022 Schaeffler climate journey, and thus laid the foundation for promoting implementation with full consistency and determination in the years to come. We achieved the highest level – an A – in both categories of the CDP ranking, which we view as both motivation and obligation.
All as always, we are committed to the ten principles of the United Nations Global Compact and the goals of the Paris Agreement. At the same time, we’re fully aware that we cannot implement our ambitious sustainability strategy without the support of our customers and suppliers, managers and employees, and everyone else we collaborate with. Or without the technology, innovation, and pioneering spirit that has set the Schaeffler Group apart for decades. Our plan is to further promote sustainability and better prepare the Schaeffler Group for the future.
On behalf of myself and the entire Executive Board, I would like to thank you for your interest in the Schaeffler Group and our sustainability activities. We hope you find our Sustainability Report 2022 interesting and informative.
Chief Executive Officer