Adient releases 2021 Sustainability Report, outlines new emissions-reduction targets
PLYMOUTH, Mich., Jan. 25, 2022 /PRNewswire/ — Adient (NYSE: ADNT), a global leader in automotive seating, today released its 2021 Sustainability Report.
The report — available at www.adient.com/about-us/sustainability — details Adient’s Environmental, Social and Governance (ESG) actions and performance in fiscal year 2021; outlines its ESG goals, including new emissions-reduction targets; and demonstrates how Adient has integrated sustainability into the core of the company in order to become the foremost sustainable automotive seating supplier.
"At Adient, we are committed to following positive environmental, social and governance-related business practices. Our goal is not only to drive environmental change by lessening the impact our business has on the planet, but also to focus on social and economic change that benefits everyone," said Doug Del Grosso, Adient president and CEO.
Adient’s new emissions-reduction targets — to reduce Scope 1 and 2 greenhouse gas (GHG) emissions 75 percent at its manufacturing plants by 2030 and to reduce Scope 3 GHG emissions 35 percent by 2030 — were recently submitted to the Science Based Targets initiative (SBTi), a partnership between the United Nations, the World Resource Institute, the World Wide Fund for Nature and the Carbon Disclosure Project to guide companies in defining their emissions-reduction targets in line with climate science and the Paris Agreement.
As a step toward reaching these targets, Adient’s goal is to be 100 percent reliant on renewable electricity by 2025.
Additionally, through its continuous improvement initiative, Adient logged 728 energy-, emissions- and water-reduction projects at its locations in its fiscal year 2021, which:
- generated electrical savings of nearly 30,000 MWh
- prevented more than 5,000 tons of CO2e from entering the atmosphere
- achieved 24 ML in water savings in fiscal year 2021
Adient continues to focus on integrating sustainability into its seating products through its ES3 — Evolution of Seating Systems Sustainability — approach to product design. ES3 reduces design complexity and limits operational waste while using sustainable materials. As one example, Adient is exploring more than a dozen sustainable leather alternatives — many of which are partially constructed from waste or recycled products — that could reduce dependency on animal leather and help prevent deforestation without compromising comfort or quality.
In addition, Adient became a signatory of the United Nations (UN) Global Compact in 2021 and reaffirmed its corporate responsibility to place human rights, labor, the environment and anti-corruption considerations at the top of its business mindset.
Adient (NYSE: ADNT) is a global leader in automotive seating. With approximately 75,000 employees in 33 countries, Adient operates 208 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 more than 20 million vehicles every year. For more information on Adient, please 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. Words such as "target," "goal," "commit," "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: whether recently completed strategic transactions in China and deleveraging activities may yield additional value for shareholders at all or on the same or different terms as those described herein, the timing, benefits and outcomes of the strategic transactions in China and / or the activities relating to our capital structure, the effects of local and national economic, credit and capital market conditions on the economy in general, and other risks and uncertainties, the continued financial and operational impacts of and uncertainties relating to the COVID-19 pandemic on Adient and its customers, suppliers, joint venture partners and other parties, the ability of Adient to execute its turnaround plan, work stoppages, including due to supply chain disruptions and similar events, energy and commodity (particularly steel) prices, the availability of raw materials (including petrochemicals) and component products (including components required by our customers for the manufacture of vehicles (i.e., semiconductor chips)), 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, the terms of future financing, the impact of tax reform legislation, uncertainties in U.S. administrative policy regarding trade agreements, tariffs and other international trade relations, general economic and business conditions, the strength of the U.S. or other economies, 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, currency exchange rates and 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, 2021 filed with the U.S. Securities and Exchange Commission (the "SEC") on November 23, 2021, 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.