Vitesco Technologies has presented its latest sustainability report – the first to use climate scenario analyses, as recommended by the Task Force on Climate-related Financial Disclosures (TCFD). Thus, the company has an overview of all the key climate-related opportunities and risks within its business activities.
With its systematic focus on climate-friendly drive technologies, clean mobility is integral to the corporate strategy. The goal is to generate around €10 to €12 billion in sales with electric and electrified solutions by 2030. With total sales in 2022 of €1.1 billion and a high number of incoming orders in the field of electrification, the company is confident that it will also achieve its next medium-term target of more than €5 billion in 2026.
Climate Protection
Vitesco Technologies has set itself the ambitious goal of making its entire value chain carbon-neutral by 2040 at the latest. This also includes all business activities beyond the company’s own processes – such as the procurement of production materials, raw material extraction or use of the products, for example. In its operations, the company aims to be entirely carbon-neutral by 2030. At the end of 2022, 91.9% of this target had already been met (2021: 90.6%).
Regarding resource efficiency and circularity, the company aims for a waste recovery quota of 95% by 2030. It already came very close to achieving this target in 2022, with 94.6% (2021: 92.6%).
Fair Work and Diversity
The central key performance indicator is the proportion of women in management positions. As per the company, this figure will rise to 21% by 2026, which currently stands at 15.4%.
Ingo Holstein, CHRO, Vitesco Technologies, said, “On more than 100 pages, we present our goals and progress when it comes to sustainability. In direct comparison with our first sustainability report for fiscal 2021, we can see improvements in all key areas.”
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