Adient releases 2022 Sustainability Report
Details company's progress on ESG goals and highlights sustainable product innovations
PLYMOUTH, Mich., Jan. 24, 2023 /PRNewswire/ -- Adient (NYSE: ADNT), a global leader in automotive seating, today releases its 2022 Sustainability Report, which details how Adient continues to reduce the impact its business has on the environment.
The new report, available at www.adient.com/about-us/sustainability, highlights Adient's Environmental, Social and Governance (ESG) goals and accomplishments and explains how the company integrates sustainability into its products, global operations and supply chain.
The report includes information about how Adient has reduced its absolute greenhouse gas emissions in line with its Science Based Targets initiative (SBTi)-validated emissions-reduction targets; increased its renewable electricity share globally; and implemented new ESG policies designed to further embed sustainability into the core of the company.
"We remain committed to following positive ESG-related business practices that help protect the environment, safeguard people, promote a culture of inclusion and create a better world," said Doug Del Grosso, Adient president and CEO. "This report illustrates the considerable progress we have made toward our ESG goals in fiscal year 2022 and highlights the hundreds of sustainability projects initiated by our teams as well as the many innovative sustainable products Adient has to offer."
- Adient has reduced its global scope 1 and 2 absolute CO2e emissions[*] by 25% — and its scope 3 absolute CO2e emissions by 12%[†] — as of Sept. 30, 2022 (using 2019 as its base year). Adient's emissions targets — a 75% reduction in absolute scope 1 and 2 emissions at its manufacturing plants by 2030 and a 35% reduction in its scope 3 emissions by 2030 — were recently validated by SBTi, affirming Adient has established a clear pathway to achieving its emissions-reduction goals
- Adient continued to develop sustainable products through a more circular approach to product design, development and production. The report showcases some of Adient's more recent sustainable innovations, including the award-winning UltraThin™ seat, Lightweight Shell Foam,™ Soft Back Panel and Soft Side Valance components and recycled and plant-based trim solutions
- In fiscal year 2022, Adient completed approximately 1,200 continuous improvement projects at its locations globally that annually conserve:
- 6,092 metric tons of CO2e
- 16 million liters of water
- 25 kWh-equivalent of fuel
- 5,363 metric tons of waste
- 42 million kWh of electricity
- As of Sept. 30, 2022, 14% of Adient's total electricity consumption globally is attributable to renewable sources. As Adient executes its renewable electricity action plan in fiscal year 2023, it will continue investigating and transitioning to fossil-free electricity (e.g., wind, solar, geothermal, hydroelectric, etc.) to further decarbonize its operations
- All of Adient's wholly owned operational facilities are ISO 14001 (Environmental Management Systems standard)-certified within 18 months from the start of production
- As a participant in the UN Global Compact, Adient remains committed to incorporating the Compact's core principles into its strategy, culture and operations. To that end, in 2022 Adient released three supporting documents: Deforestation Policy, Human Rights Policy Statement and DE&I Commitment Statement
- Out of Adient's full-time salaried employee population globally, 85% completed voluntary DE&I training in fiscal year 2022. Adient launched additional virtual DE&I training earlier this month that focuses on promoting an inclusive work environment
- Adient has spent $7.5 billion with diverse-owned suppliers since becoming Adient in October 2016 — that's more than $1 billion each year. Adient continues to achieve its customers' supplier diversity targets and collaborate on initiatives that drive opportunities for diverse-owned suppliers
Visit www.adient.com/about-us/sustainability to view and download Adient's full 2022 Sustainability Report.
Adient (NYSE: ADNT) is a global leader in automotive seating. With 70,000+ employees in 30 countries, Adient operates more than 200 manufacturing/assembly plants worldwide. We produce and deliver automotive seating for all major OEMs. From complete seating systems to individual foam, trim and metal 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 millions of vehicles every year. For more information, visit www.adient.com.
This document contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Forward-looking statements can also be identified by words such as "future," "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "will," "would," "could," "can," "may," or similar terms. Forward-looking statements are not guarantees of future performance and Adient's actual results may differ significantly from the results discussed in the 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: the Ukraine conflict and COVID lockdowns in China and their impact on regional and global economies and additional pressure on supply chains and vehicle production, 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, work stoppages, including due to supply chain disruptions and similar events, energy and commodity availability and prices, the Company's ability and timing of customer recoveries for increased input costs, the availability of raw materials and component products (including components required by our customers for the manufacture of vehicles (i.e., semiconductors)), whether deleveraging activities may yield additional value for shareholders at all or on the same or different terms as those described herein, the ability of Adient to execute its turnaround plan, 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, the ability of Adient to achieve its ESG-related goals, 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, 2022, filed with the U.S. Securities and Exchange Commission (the "SEC") on November 22, 2022, 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.
* Scope 1 emissions are Adient's direct greenhouse gas emissions; scope 2 refers to Adient's indirect greenhouse gas emissions associated with the purchase of electricity, steam, heat, or cooling; and scope 3 emissions are Adient's value chain emissions.
† Adient's scope 3 emissions data disclosure is calculated using the GHG Protocol Technical Guidance for Calculating Scope 3 Emissions (version 1.0), which is an industry standard, using Accenture's methodology and relying on/using actual consumption and spend data to calculate scope 3 emissions.
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