Yanfeng publishes its 2022 ESG Report
SHANGHAI - 13 July 2023. Yanfeng, one of the world's leading automotive suppliers, today published its 2022 sustainability report which documents the company's activities in all Environmental, Social and Governance (ESG) areas that form part of its sustainability strategy.
The report also reinforces Yanfeng's support for the Ten Principles of the United Nations Global Compact in the areas of Human Rights, Labor, Environment, and Anti-Corruption. In addition, the report summarizes the company's social commitments and supply chain.
"At Yanfeng, sustainability plays an important role in everything that we do - from product development through production," said Gunnar Büchter, Vice President of Global Sustainability at Yanfeng.
Yanfeng has a sustainable product portfolio. The company also focuses on renewable energy when manufacturing components at its plants. In Europe, all
12 plants have switched over to renewable energy during the last year. Globally, the company has a goal of covering 100% of total energy consumption by renewable energy sources by 2030.
Low-CO2 operation for a sustainable future
The company intends to reduce its CO2 footprint in the long-term and is pursuing the goal of achieving net zero emissions in scopes 1 and 2 by 2030 and in scope 3 by 2050. To achieve these goals, Yanfeng has taken the initial step of implementing software for tracking carbon emissions. This has been developed with support from a consulting company. The program, which is now being implemented across the company, measures and optimizes the CO2 impact Yanfeng's operations have on climate change.
This ensures that a consistent and standardized system is used both for internal monitoring and as the basis for external reporting.
Decarbonization of the supply chain and responsible procurement
Yanfeng is continually focused on achieving its sustainability goals to minimize environmental impact. Sustainability is foundational and all stakeholders are working together towards the common ESG goals of the company.
"Decarbonization is a priority for Yanfeng and one of the most important pillars of our ESG strategy. Our sustainability goals are based on the Science-based Targets Initiative. The decarbonization of our supply chain and responsible procurement are also important for us," added Büchter, who is also responsible for procurement in Europe and North America.
To increase transparency along the supply chain and identify and eliminate risks at an early stage, the company has also been an active member of the of the VDA (Automotive Industry Association) Responsible Chain Initiative since 2022.
Yanfeng will continue to advance and further develop its ESG strategy. Join us on this journey and learn more about it in our ESG report.
For more information please contact:
Tel.: +49 2131 609-3028
Yanfeng is a leading global automotive supplier, focusing on interior, exterior, seating, cockpit electronics and passive safety, and is exploring new business actively. Yanfeng has more than 240 locations and approximately 67,000 employees worldwide. The technical team of 4,100 experts is in 12 R&D centers and other regional offices, with complete capabilities including engineering & software development, styling, and test validation. Focusing on smart cabin and lightweight technology, Yanfeng supports automakers to explore future mobility and provide leading cabin solutions.
For more information, please visit www.yanfeng.com.