In the increasingly competitive automotive industry, what is the positive significance of companies promoting sustainable development? At a recent media conference in Danzhai, Guizhou, Vitesco Technologies gave the answer: by integrating sustainability into corporate strategies and business processes, it can better set its vision.
For Vitesco Technologies, it has become a top strategy for Vitesco Technologies to contribute to the future of clean mobility and to drive the world to zero emissions through innovative solutions.
Business is good, and the foundation is evergreen. In the current involuted and slightly impetuous business environment, we increasingly need the concept of sustainable development to promote the development of enterprises and industries.
Vitesco Technologies Sustainability Report China press conference
Achieve net-zero emissions across the value chain by 2040
In April 2024, Vitesco Technologies published its 2023 Sustainability Report, the company's third independent sustainability report. The report documents the company's progress on seven key issues, and strictly adheres to the standards of the Global Reporting Initiative (GRI), the Sustainable Development Goals (SDGs), the guidance of the United Nations Global Compact (UN GC), and also adopts the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
Dr. Anja Rivera de la Cruz, Head of Sustainability at Vitesco Technologies, said: "Thanks to our dynamic team and our determination to be a 'sustainability driver', we succeeded in further integrating sustainability into our business processes in 2023, completing valuable pioneering work and paving the way for future growth. ”
Vitesco Technologies is committed to being a driver of sustainability
In accordance with the European Sustainability Reporting Standards (ESRS), published in July 2023, Vitesco Technologies has conducted a comprehensive materiality assessment in response to the European Corporate Sustainability Reporting Directive (CSRD). Based on the results of this assessment, Vitesco Technologies has further refined its sustainability agenda by reaffirming the original six key topics: clean mobility, climate protection, resource efficiency and recycling, fairness and diversity at work, image and partnerships with trusted purchasers, occupational health and safety, and the addition of business ethics and compliance as the seventh important topic. This sustainability report has also been prepared with these topics in mind.
To evaluate progress, Vitesco Technologies uses key performance indicators such as the Employee Net Promoter Score (eNPS), accident rate, waste recycling quota, and the percentage of electrification solutions in the company's business. The report also showcases a wealth of examples of how sustainability can be achieved at all levels of the company.
Vitesco Technologies to increase its share of electrification investment to 27% in 2023
In its 2023 annual report, Vitesco Technologies achieved an important milestone: the company's short-term climate goal has been validated by the Science Based Targets initiative (SBTi) to reduce absolute greenhouse gas emissions from its operations (Scope 1 and 2) by 100% by 2030 compared to the base year of 2019.
In addition, Vitesco Technologies has committed to reducing absolute Scope 3 emissions by 25% by 2030 compared to base year 2021. In particular, Vitesco Technologies aims to achieve net-zero greenhouse gas emissions across its entire value chain by 2040.
China actively practices the concept of sustainable development
As an important market in the world, Vitesco Technologies China actively promotes the Group's sustainable development philosophy. In 2023, China will successfully save 1,675 MWh. Improve energy efficiency by installing an energy monitoring system to monitor and manage energy use in real time.
For example, the Changchun plant has achieved an annual reduction of 350 tons of carbon dioxide emissions through the intelligent control and heat recovery project of the air compressor, the Wuhu and Tianjin factories have built their own solar power plants with an annual power generation capacity of up to 2,300 megawatt hours, which is equivalent to reducing carbon dioxide emissions by 2,000 tons, and the electric shuttle bus project of the Tianjin plant has achieved an annual carbon reduction of about 929 tons.
Vitesco Technologies' solar power plant in Wuhu
In 2023, more than 5,000 Salix trees were planted in the Tengger Desert in Wuwei, Gansu Province, making full use of desertified land and abundant solar energy resources, and continuing to carry out "Green Computer Classrooms" in Jiangxi, Anhui, Guizhou and other provinces The project provides rural schools in need with recycled computers with good performance and helps them build computer classrooms.
In 2023, Vitesco Technologies China was awarded the "2023 Bloomberg Greengold ESG 50 Excellence List" jointly by Bloomberg Greengold and Bloomberg Businessweek.
Vitesco Technologies Mama Tea Garden Stand