#USA #Carbon Neutrality #Northville #Cooper Standard #Corporate Responsibility

Cooper Standard's Commitment to Carbon Neutrality

In a bold move towards sustainability, Cooper Standard, a major player in the automotive supply industry, has unveiled its latest Corporate Responsibility Report for 2024. Titled "Transformation: Change is Constant," this report emphasizes the company's unwavering dedication to ethical practices, environmental stewardship, and community engagement, while outlining an ambitious goal of achieving carbon neutrality by 2040 in Europe and by 2050 across the globe.

CEO Jeffrey Edwards articulated the drive behind these goals, noting that the automotive industry is in constant flux, and as such, businesses must remain agile and responsive to increasing regulatory expectations. Over the last five years, Cooper Standard has undergone considerable transformation, positioning itself as a more competitive entity while keeping sustainability at the forefront.

The report showcases not just intentions but actionable measures the company is taking. It includes a double materiality assessment that aligns with the EU’s Corporate Sustainability Reporting Directive. Cooper Standard partnered with an independent organization to evaluate Impact, Risk, and Opportunity statements related to their business and supply chain, demonstrating a commitment to transparency and accountability.

Among the key areas discussed in the report are:

• - Energy Management: Cooper Standard is analyzing its energy use, aiming to pivot towards renewable sources to reduce its carbon footprint.
• - Greenhouse Gas Emissions: The organization is focusing on measuring and mitigating greenhouse gas emissions throughout its operations.
• - Circular Economy: The company is working on sustainable product lifecycles and minimizing waste, showcasing a commitment to circular economic practices.
• - Employee Engagement: The report delves into workforce development, prioritizing health, safety, and overall well-being as essential components for business success and retention.
• - Ethics and Sourcing: Reinforcing its founding principles, Cooper Standard places significant emphasis on responsible sourcing and business ethics, ensuring a sustainable approach from material selection to product delivery.

Edwards reiterated the importance of leading the industry through innovation and improvement, emphasizing benchmarking against peers and striving to exceed existing standards. The report highlights not only the progress achieved thus far but also the proactive steps Cooper Standard is taking to address the evolving needs of stakeholders—including employees, customers, investors, and communities.

As part of this commitment, Cooper Standard is continuously refining its strategies to navigate the challenges presented by a dynamic market landscape. The report celebrates measurable milestones and asserts the company’s pursuit of long-term value creation while honoring its corporate values.

For those interested in reviewing the detailed insights from Cooper Standard's 2024 Corporate Responsibility Report, it is available for public viewing here.

Cooper Standard's headquarters reside in Northville, Michigan, with a presence in 20 countries, reflecting its global reach and influence as a leading supplier of sealing and fluid handling systems. As the company moves towards its carbon goals, its commitment to responsible practices underscores a greater movement towards sustainability in the automotive industry.

This report not only serves as a roadmap for Cooper Standard but also sets a precedent for industry peers, showcasing that proactive strategies in environmental responsibility lead to both competitive advantages and enhanced community trust.