Corporate Social Responsibility (CSR) rating agency ISS ESG has awarded Valeo pole position in its ESG performance rating of global companies. Valeo also achieved Prime status for its excellent performance.
Valeo scored particularly well in the three areas identified by ISS ESG as key performance indicators for automotive suppliers: a portfolio of existing products that help reduce CO2 emissions, global management of social and environmental risks and quality of the Group’s governance.
ISS ESG singled out the quality and diversity of Valeo’s product portfolio, including the 48V system, thermal management solutions for batteries and new-generation lighting systems, which all contribute to reducing vehicle CO2 emissions. Valeo says this ranking underscores the relevance of its strategy, which is based on innovation for the development of autonomous vehicles and reducing CO2 emissions. The rating agency had particular praise for the quality of the Group’s governance, with a board of directors including independent members, and the positive results of its cross-functional sustainable development policy, which takes into account labor-related, social (supply chain, multilateral commitments) and environmental aspects in all of the Group’s locations.
In 2018, products that directly or indirectly contribute to reducing CO2 emissions accounted for more than 50% of Valeo’s OE sales. Half of Valeo’s R&D expenditure – which approached 2.1 billion euros in 2018 – is dedicated to technologies that contribute to reducing CO2 emissions.
Jacques Aschenbroich, Valeo’s chairman and CEO, commented, “Valeo’s No. 1 position in ISS-oekom’s ESG performance ranking of global automotive suppliers is recognition of our entire approach to sustainable development, which is a fundamental part of our DNA. This includes our product strategy based on innovation in CO2 emissions reduction and the autonomous vehicle, our management of social and environmental risks and our exemplary governance. It goes without saying that this honor is an immense source of pride for all of Valeo’s teams.”
