Standard Motor Products, Inc. (SMP) announced the publication of its third Corporate Sustainability Report that it says highlights SMP’s continued commitment to being environmentally and socially responsible. It also provides insights into SMP’s initiatives, future goals, and achievements in relation to its business, employees, communities and the planet, according to SMP.
“On behalf of our entire SMP family, I am pleased to share with you our 2022 Corporate Sustainability Report. To deliver on the objectives that we established in our previous report, SMP has made significant enhancements to our environmental, social, and governance profile. We believe that these initiatives will provide long-term value to our Company, stakeholders, and the communities within which we operate,” said CEO Eric Sills.
SMP says highlights of this report include:
- The implementation of practices that contribute to a greener car parc, including assisting in the control of vehicle emissions and introducing additional components for hybrid and electric vehicles;
- Reduction of its carbon footprint and progress toward its ambition to achieve net-zero greenhouse gas emissions by 2050, and updates to its energy, water and waste management programs;
- A reported reduction in scope 1 and 2 GHG emissions (Intensity) by 11% compared to 2021, and 30% compared to the 2019 baseline year, and a reduced total usage of water (Intensity) by 9% compared to 2021, and 29% compared to the 2019 baseline year;
- Enhancing diversity, equity, inclusion and belonging programs, as well as employee training, development and retention, while prioritizing health and safety;
- Diversification of its Board of Directors; and
- The appointment of a director of global sustainability to analyze opportunities, develop strategies, and monitor environmental supply chain efforts worldwide.