Vitesco Technologies publishes its third independent Sustainability Report

By India Education Diary Bureau Admin On Apr 1, 2024

Report documents company’s progress across seven material topics
Materiality assessment in preparation for the European Corporate Sustainability Reporting Directive (CSRD)
Validation of short-term climate targets through the Science Based Targets initiative (SBTi)
Also: net-zero greenhouse gas emissions across the entire value chain targeted by 2040

Mumbai: Vitesco Technologies, a leading international supplier of advanced drive technologies and solutions for e-mobility, today publishes its third independent Sustainability Report. The report documents the company’s progress across seven material topics. Among other things, it is guided by the standards of the Global Reporting Initiative (GRI), the Sustainable Development Goals (SDGs), the United Nations Global Compact (UN GC), and the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD).

“Thanks to our passionate team and our strong ambition to be a ‘Driver of Sustainability’, we managed to further embed sustainability in our business processes in 2023,” says Dr. Anja Rivera de la Cruz, Head of Sustainability and Security at Vitesco Technologies: “We have thus performed valuable pioneering work and paved the way for our future endeavors.”

Among other things, the company carried out a comprehensive materiality assessment in 2023 in preparation for the European Corporate Sustainability Reporting Directive (CSRD) based on the final European Sustainability Reporting Standards (ESRS), which were published in July 2023. The Sustainability Agenda was further developed in line with the results of the materiality assessment. The six existing material topics – Clean Mobility, Climate Protection, Resource Efficiency and Circularity, Fair Work and Diversity, Responsible Sourcing and Partnerships, and Occupational Health and Safety – were reconfirmed, and Business Ethics and Compliance was added as a seventh material topic. The present Sustainability Report is also structured according to these material topics.

To measure its progress, Vitesco Technologies uses Key Performance Indicators, such as the eNPS (Employee Net Promoter Score), the accident rate, the waste recycling quota, and the share of electrification solutions in its business. The report also presents a wide range of examples of how sustainability is established at all levels within the company.