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Progress-Werk Oberkirch AG: PWO aims for a greater focus on SMEs in the supply industry at the World Climate Conference

EQS-News: Progress-Werk Oberkirch AG / Key word(s): Sustainability
Progress-Werk Oberkirch AG: PWO aims for a greater focus on SMEs in the supply industry at the World Climate Conference
08.11.2022 / 09:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

Carlo Lazzarini (CEO): “SMEs in the mobility supply industry play a key role in reconciling climate protection and economic growth. They need to feature more prominently in the climate protection debate. We are showing how it can be done, and are advancing our sustainable transformation at PWO with speed and passion.” 

  • Targeted engagement with like-minded companies boosts support for the Paris Climate Agreement

  • PWO Group CO2 reduction targets for 2030 validated by the SBTi

  • Sustainable transformation and economic efficiency go hand in hand at PWO

Oberkirch/Valašské Meziříčí/Kitchener/Puebla/Suzhou/November 8, 2022 – With the attendance of Carlo Lazzarini (CEO) and Dr. Cornelia Ballwiesser (CFO), the PWO Group is part of Global Vision 2045 at the 2022 World Climate Conference in Egypt (COP27) from November 6 to 9. The Executive Board members will be sharing their expertise in panel discussions on “trade and industry” and “sustainable cities”, and seeking opportunities for targeted engagement with like-minded companies. One main aim of the PWO Executive Board is to gain more exposure for the perspective of SMEs in the supply industry.

“We have no time to lose”

SMEs in the supply industry such as the PWO Group have a substantial influence on the Scope 3 CO2 emissions of major vehicle manufacturers, and can shape the upstream and downstream value chain. They are at the heart of sustainable development, and their perspective is crucial to successful attainment of global sustainability targets.

With this in mind, Carlo Lazzarini, CEO of the PWO Group is appealing to his sector: “All of us in the mobility industry and beyond need to commit to climate protection right now, as we have no time to lose. We must act much faster on decarbonization. That is the right way and the only way to achieve a sustainable future.”

PWO Group aligned with Paris Climate Agreement targets

Dr. Cornelia Ballwiesser (CFO): “Now that our targets have been validated by the SBTi, we have reached a key milestone in our sustainability strategy.”

Sustainability is already one of the most important corporate values for the PWO Group. In April 2022, we become one of the many companies that support the Science Based Targets initiative (SBTi) in order to reduce our CO2 emissions in line with the findings of climate research.

The CO2 reduction targets submitted to the Science-Based Targets initiative (SBTi) have now been validated by the independent initiative. Consequently, the PWO Group is aligned with the Paris Climate Agreement, which seeks to limit global warming to well below 2 degrees Celsius compared with pre-industrial levels. Compared with the base year 2019, we aim to reduce our Scope 1 and 2 CO2 emissions by 46.2% and our Scope 3 emissions by 28.0% by 2030.

Just ahead of COP27, we are making our strategy transparent within the sustainable framework People. Planet. Progress. Find out about PWO’s sustainability strategy at: https://www.pwo-group.com/en/sustainability/.

Sustainable development of the company and profitable growth stock

With innovative product solutions, PWO has emerged as a growth stock. In our ad-hoc disclosure on November 3, 2022, we increased our forecasts for all key performance indicators in fiscal 2022.

The expected lifetime volume of new business was raised for the second time this year. With a range of impressive solutions, we increased the lifetime volume of new business for the fifth time in a row in the third quarter of 2022, reaching the highest-ever figure for a single quarter. In fiscal 2022, we now aim to attract new business with a lifetime volume of approx. EUR 800 million (previous year: around EUR 570 million), up 40% year-on-year. Our international locations will continue to be growth drivers of the PWO Group here.

As ever, our success is built on our entirely combustion-independent business model, combined with a global sales approach and a focus on our development capabilities. We can also see that our combination of substantial innovative strength, flexibility, and total commitment is paying off for our customers.

 

Progress-Werk Oberkirch AG

The Executive Board

 

Contact:

Charlotte Frenzel

Investor Relations & Corporate Communications

T. +49 179 / 6904 237

E. charlotte.frenzel.ext.ma@progress-werk.de

 

Fabian Fastabend

Press Relations

T. +49 176 / 7078 9312

E. fabian.fastabend.ext.ma@progress-werk.de

 

PWO Group profile

We are a global company in the mobility industry, and regard ourselves as an engineering house that takes the lead in shaping the environmentally friendly mobility of the future through innovations and is entirely independent of combustion engines.

With our expertise in climate-friendly lightweight construction, we are technology leaders, and combine economic efficiency with sustainability. We develop and produce sophisticated metal components and complex subsystems at the frontiers of what is technologically possible.

As a serious employer with informal structures at a global level, we are home to 3,000 employees at 8 locations on 3 continents.

Our actions are driven by inner motivation and conviction, which is why sustainability is one of the core values of our Group.

We see the need to meet the challenges of our time with innovative and sustainable concepts. But most of all, we aim to take the related opportunities.

Our corporate strategy is summed up in the slogan PEOPLE. PLANET. PROGRESS.


08.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

Progress-Werk Oberkirch AG

Industriestraße 8

77704 Oberkirch

Germany

Phone:

+49 (0)7802 84-844

Fax:

+49 (0)7802 84-789

E-mail:

ir@progress-werk.de

Internet:

www.progress-werk.de

ISIN:

DE0006968001

WKN:

696800

Listed:

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

EQS News ID:

1481297


 

End of News

EQS News Service

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