American tier 1 supplier BorgWarner released its 2023 Sustainability Report, ‘Accelerating Action,’ highlighting the progress the company made in 2022 toward meeting its environmental stewardship, social responsibility and governance (ESG) objectives and outlining additional goals for 2023 and beyond.
The company is aiming to make a radical improvement in terms of its contribution to society, and has outlined an ambitious target of being carbon neutral in Scope 1 and 2 by 2035; 85% absolute greenhouse gas reduction by 2030 compared to 2021 baseline and 85% waste diversion rate by 2030.
It also aims to have the majority of its revenues come from electric vehicle and emission-reducing products. In fact, 88% of its sales revenue in 2022 came from clean and emissions-reducing product and it has invested around 53% of its 2022 R&D funds in EV technology.
BorgWarner says it has also kicked off workstreams dedicated to reducing its Scope 3 emissions by 25% by 2031 versus a 2021 baseline. It also is reducing overall energy consumption by 13% versus 2021 as a result of several actions including the use of smart meters at BorgWarner’s manufacturing sites.
Frederic Lissalde, President & CEO, BorgWarner said, “2022 was another year of significant progress for BorgWarner. I am incredibly proud of the contributions of every person in our company, collectively working together toward the same goals.”
“At our 2023 Investor Day earlier this month, we unveiled ‘Charging Forward: 2027,’ which underscores our commitment to operating sustainably as we accelerate our electrification strategy. The continued support of our employees and collaboration with industry partners enables us to build on our momentum, in pursuit of a clean, energy-efficient world and achieving carbon neutrality by 2035.”
