Document details Adient's progress toward its ESG goals, spotlights sustainable product innovations
PLYMOUTH, Mich., Feb. 6, 2024 /PRNewswire/ -- Adient (NYSE:ADNT), a global leader in automotive seating, today released its 2023 Sustainability Report showcasing the company's ongoing commitment to environmental stewardship, social responsibility and strong governance practices.
The comprehensive report, available at www.adient.com/sustainability, covers the company's most recent fiscal year and details Adient's ESG (environmental, social, governance) targets and accomplishments.
The report also spotlights some of Adient's recent sustainable product innovations such as the award-winning ProX IsoDynamic Seat and the EV-ready Pure Essential seat, which promotes product circularity by using just two primary eco-friendly material types: green steel and recyclable polyester.
"We remain committed to promoting sustainability in all areas of our business — from the products we make to the communities in which we operate," said Jerome Dorlack, Adient president and CEO. "By incorporating sustainable practices into our day-to-day operations, we are promoting the long-term success of our company and a more sustainable future for generations to come."
2023 Sustainability Report Highlights
- Adient has reduced its global scope 1 and 2 absolute CO2e emissions by 34%* as of Sept. 30, 2023 (using 2019 as its base year). In fiscal year 2023, Adient announced it is targeting 2040 to achieve carbon neutrality at its manufacturing sites for scope 1 and 2 greenhouse gas emissions.
- As of Sept. 30, 2023, 26% of Adient's total electricity consumption globally is attributable to renewable sources. Adient is targeting 2035 to be reliant on 100% renewable electricity at our manufacturing sites globally.
- Adient continued to develop sustainable products through a more circular approach to product design, development and production, including the award-winning ProX IsoDynamic Seat, the EV-ready Pure Essential seat, the cost-effective Smart Efficiency 2.0 seat and the Autonomous Elegance seat.
- In fiscal year 2023, Adient completed 1,336 continuous improvement projects at its locations globally that annually conserve:
- 7,394 metric tons of CO2e
- 52 million liters of water
- 21 kWh-equivalent of fuel
- 2,032 metric tons of waste
- 70 million kWh of energy
- Adient refreshed its Deforestation Policy in 2023 and released a new Natural Resources webpage: www.adient.com/natural-resources.
- Adient updated its Ethics Policy (ethics.adient.com) in fiscal year 2023. The policy provides enhanced guidance to Adient's employees, suppliers and business partners.
- As a participant in the UN Global Compact, Adient remains committed to incorporating the Compact's core principles into its strategy, culture and operations.
- Adient has spent $8.7 billion with diverse-owned suppliers since October 2016 — more than $1 billion each year.
"Adient teams are creating a sustainable path for our business and future generations by incorporating sustainable concepts into daily roles and responsibilities — and by collaborating with our stakeholders, including employees, customers, suppliers, investors and communities," said Stephanie Marianos, Adient vice president of Global Sustainability. "I invite you to read our 2023 Sustainability Report to see inspiring examples of our teams in action."
Visit www.adient.com/sustainability to view and download Adient's full 2023 Sustainability Report.
* Within SBTi boundaries for scope 1 and 2 emissions. Scope 1 emissions are Adient's direct greenhouse gas emissions; and scope 2 refers to Adient's indirect greenhouse gas emissions associated with the purchase of electricity, steam, heat, or cooling.
About Adient:
Adient (NYSE:ADNT) is a global leader in automotive seating. With 70,000+ employees in 29 countries, Adient operates more than 200 manufacturing/assembly plants worldwide. We produce and deliver automotive seating for all major OEMs. From complete seating systems to individual components, our expertise spans every step of the automotive seat-making process. Our integrated, in-house skills allow us to take our products from research and design to engineering and manufacturing — and into millions of vehicles every year. For more information, visit www.adient.com.
Cautionary Statement Regarding Forward-Looking Statements:
Adient has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Adient's expectations for its deleveraging activities, the timing, benefits and outcomes of those activities, as well as its future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, market position, outlook, targets, guidance or goals are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" or terms of similar meaning are also generally intended to identify forward-looking statements. Adient cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Adient's control, that could cause Adient's actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: the effects of local and national economic, credit and capital market conditions (including the persistence of high interest rates and volatile currency exchange rates) on the global economy, work stoppages, including due to strikes, supply chain disruptions and similar events, wage inflationary pressures due to labor shortages and new labor negotiations, volatile energy markets, Adient's ability and timing of customer recoveries for increased input costs, the availability of raw materials and component products (including components required by our customers for the manufacture of vehicles), geopolitical uncertainties such as the Ukraine and Middle East conflicts and the impact on the regional and global economies and additional pressure on supply chain and vehicle production, the ability of Adient to execute its restructuring plans and achieve the desired benefit, automotive vehicle production levels, mix and schedules, as well as our concentration of exposure to certain automotive manufacturers, the ability of Adient to effectively launch new business at forecast and profitable levels, the ability of Adient to meet debt service requirements and, terms of future financing, the impact of global tax reform legislation, uncertainties in U.S. administrative policy regarding trade agreements, tariffs and other international trade relations, shifts in market shares among vehicles, vehicle segments or away from vehicles on which Adient has significant content, changes in consumer demand, global climate change and related emphasis on ESG matters by various stakeholders, and the ability of Adient to achieve its ESG-related goals, cancellation of or changes to commercial arrangements, and the ability of Adient to identify, recruit and retain key leadership. A detailed discussion of risks related to Adient's business is included in the section entitled "Risk Factors" in Adient's Annual Report on Form 10-K for the fiscal year ended September 30, 2023 filed with the U.S. Securities and Exchange Commission (the "SEC") on November 17, 2023, and in subsequent reports filed with or furnished to the SEC, available at www.sec.gov. Potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this document are made only as of the date of this document, unless otherwise specified, and, except as required by law, Adient assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this document.
ADNT-FN
View original content:https://www.prnewswire.com/news-releases/adient-releases-2023-sustainability-report-302054428.html
SOURCE Adient