2021 Sustainability Report Released
SOUTHFIELD, Mich., June 18, 2022 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, released its 2021 Sustainability Report, featuring the company's progress on its renewable energy strategy, innovative green products, supplier sustainability, and diversity, equity and inclusion (DEI) efforts.
"Since we integrated ESG into our company's long-term strategy - alongside business results and operational excellence - our global teams are helping us advance on our sustainability journey," said Ray Scott, Lear President and CEO. "Every day, Lear employees around the world are striving to support our people and communities as we work to make Lear an even better corporate citizen."
Highlights of Lear's ESG Progress:
Renewable Energy Strategy
After announcing its climate change goals in 2020, Lear developed a robust strategy to help the company achieve 100% renewable energy for electric power consumed at its manufacturing plants by 2030. The goal has already been reached in Germany, Poland and the United Kingdom, representing approximately one-half of Lear's electricity use in Europe. To build on this progress, Lear plans to use a combination of methods including partnering with energy utilities to procure renewable energy as well as on-site generation for its remaining global sites.
Green Products
With three Automotive News PACE Award-winning innovations in 2021, Lear is helping electric vehicles charge faster and drive farther. In fact, six out of eight key E-Systems launches in 2022 will include content on new electric vehicles. By 2026, 4 million electric vehicles are expected to rely on Lear's new high-voltage connection systems as the main battery/vehicle interface. Additionally, Lear's sustainable solutions include lightweight seating structures as well as renewable and recycled materials that divert waste from landfills and support a global circular economy.
Product Sustainability
To determine the cradle-to-grave sustainability of its products, Lear initiated life cycle assessments on its seating, leather and wire harness products in 2021. In addition, the company published a new product directive to integrate sustainability into its design process.
Supplier Sustainability
In 2021, a third party evaluated 1,600 of Lear's production supplier locations on environment, responsible sourcing, ethics, human rights and management. Lear expects to complete assessments of approximately 3,000 of its production suppliers by the end of 2022.
Other major highlights from Lear's 2021 Sustainability Report include:
- Launching the Together We Grow program to provide meaningful development and proactive career management for future diverse leaders.
- Spending $5.1 billion with certified minority-owned, women-owned and veteran-owned suppliers in the United States in the past decade.
- Renewing its commitment to the United Nations (UN) Global Compact as a signatory participant and to the UN's Sustainable Development Goals.
- Increasing transparency and enhancing reporting with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, and in accordance with the Core Requirements of the Global Reporting Initiative (GRI).
To download or view Lear's 2021 Sustainability Report, visit lear.com/sustainability.
About Lear Corporation
Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Lear's diverse team of talented employees in 38 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive betterâ„¢ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 186 on the Fortune 500. Further information about Lear is available at lear.com or on Twitter @LearCorporation.
