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ElringKlinger signs Baden-Württemberg Climate Protection Agreement and charts route for CO2-neutral production as from 2030

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DGAP-News: ElringKlinger AG / Key word(s): Agreement/Strategic Company Decision
ElringKlinger signs Baden-Württemberg Climate Protection Agreement and charts route for CO2-neutral production as from 2030
27.04.2022 / 11:44
The issuer is solely responsible for the content of this announcement.

ElringKlinger signs Baden-Württemberg Climate Protection Agreement and charts route for CO2-neutral production as from 2030

ElringKlinger AG has recently signed the Climate Protection Agreement of the German state of Baden-Württemberg. As part of this climate alliance, the state and local companies will endeavor to jointly make a contribution to a more sustainable economy. The Climate Protection Agreement sets out specific measures on how corporate climate protection targets are to be achieved. In signing this voluntary agreement, ElringKlinger has committed itself to reducing greenhouse gas emissions and further improving efficiency levels in respect of energy consumption. The explicit goal is to achieve CO2 neutrality in net terms as from 2030.

Dettingen/Erms (Germany), April 27, 2022 +++ Acting sustainably is an integral element of ElringKlinger's DNA, and CO2 neutrality is one of the key parameters for meeting its social and environmental responsibilities. ElringKlinger has set itself a tight schedule to achieve CO2 neutrality in net terms within the Group by 2030. Production at all German sites has been CO2 neutral in net terms since 2021 (Scope 1 and 2). The plan is for all sites around the globe to be added to this list by 2030. In addition, the company is committed to scaling back emissions generated throughout the entire value chain (Scope 3).

Dr. Stefan Wolf, CEO of ElringKlinger AG, highlights the ambitious plans: "Our strategic orientation has always included a strong commitment to sustainable mobility and our entire product portfolio has been aligned to this vision. We are now determined to reach another milestone and pursue a steady reduction in our environmental footprint. Indeed, we consider it part of our corporate responsibility to drive forward decarbonization in industry in an effort to combat climate change. It is with this in mind that we have joined the Baden-Württemberg Climate Protection Alliance. This initiative is a key building block for sustainable business."

For ElringKlinger, sustainability means taking seriously its corporate responsibility for future generations. Alongside environmentally sound management and an out-and-out commitment to social interaction, this involves proactively embracing climate and environmental protection. To achieve the targets, CO2 emissions at the production sites will have to be reduced by at least 2.5 percent annually. ElringKlinger has therefore defined a number of measures that are being implemented throughout the Group worldwide. The first step involves raising energy efficiency levels of existing machinery and buildings. At the same time, ElringKlinger will examine the possibility of installing systems for the self-generation of renewable energy. In addition, electricity contracts across the Group are to be switched to electrical energy generated from renewable sources, such as water, sun, or wind. Unavoidable CO2 emissions will be offset by investments in climate protection projects. ElringKlinger has already implemented the first component of this action plan by converting its German production sites to green electricity as early as 2021. Thus, production is already CO2 neutral in net terms in respect of Scope 1 and Scope 2.

Furthermore, the agreement also covers the Group's target of channeling around one percent of annual investments into measures aimed at improving energy efficiency. This includes, among other things, the further expansion of photovoltaic systems, as already implemented at numerous sites, the purchase of energy-efficient lighting technology, the use of heat recovery systems in new buildings, and the investment in software for smart energy management. ElringKlinger's commitment to sustainable energy generation spans many years, and the company will continue to expand within this area. The Group covers part of its electricity requirements by operating its own combined heat and power units. For example, waste heat is used in the area of process cooling and air conditioning. At ElringKlinger's UK site in Redcar, a wind turbine supplies green electricity for on-site production.

The Climate Protection Agreement covers an initial period of ten years and can be extended by both alliance partners. In addition to an initial assessment and the annual recording of greenhouse gas emissions, ElringKlinger will submit a monitoring report after every five years. The monitoring report incorporated into the sustainability report will be publicly accessible on the website of the State of Baden-Württemberg.


For further information, please contact:
ElringKlinger AG | Vice President Strategic Communications
Dr. Jens Winter
Phone: +49 7123 724-88335 | E-mail: jens.winter@elringklinger.com

About ElringKlinger AG
As an automotive supplier, ElringKlinger has become a trusted partner to its customers - with a firm commitment to shaping the future of mobility. Whether optimized combustion engines, high-performance hybrids, or environmentally-friendly battery and fuel cell technology, ElringKlinger provides innovative solutions for all types of drive system. ElringKlinger's lightweighting concepts help to reduce the overall weight of vehicles. As a result, vehicles powered by combustion engines consume less fuel and emit less CO2, while those equipped with alternative propulsion systems benefit from an extended range. In response to increasingly complex combustion engine technology, the Group also continues to refine and evolve its offering within the area of seals and gaskets in order to meet the highest possible standards. This is complemented by solutions centered around thermal and acoustic shielding technology. Additionally, the Group's portfolio includes products made of the high-performance plastic PTFE, which is also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of around 9,500 people at 45 ElringKlinger Group locations around the globe.


27.04.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

ElringKlinger AG

Max-Eyth-Straße 2

72581 Dettingen/Erms

Germany

Phone:

071 23 / 724-0

Fax:

071 23 / 724-9006

E-mail:

jens.winter@elringklinger.com

Internet:

www.elringklinger.de

ISIN:

DE0007856023

WKN:

785602

Listed:

Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange

EQS News ID:

1336279


 

End of News

DGAP News Service

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