Marks the first time BorgWarner has received this recognition
Ranked 6th in automotive and the only automotive supplier included in the Global 100
Publicly traded companies with more than $1 billion in revenue assessed on 25 key performance indicators across environmental, social, and governance
AUBURN HILLS, Mich., Feb. 4, 2025 /PRNewswire/ -- BorgWarner, a global product leader in delivering innovative and sustainable mobility solutions for the vehicle market, has been named to the Corporate Knights' 2025 Global 100 sustainability index, a transparent, rules-based sustainability ratings that emphasizes the impact of a company's core products and services. This marks the first time BorgWarner has been included on the list.
BorgWarner logo. (PRNewsfoto/BorgWarner)
This year, 8,359 companies were assessed; BorgWarner ranked 64th overall, sixth in the Cars & Trucks Manufacturing, including parts group. BorgWarner was the only automotive supplier included in the ranking.
To be considered for the annual Global 100, a company must be publicly traded with more than $1 billion in revenue. Each company is then assessed across 25 key performance indicators spanning resource management, employee management, financial management, sustainable revenue and sustainable investment, and supplier performance. During the ranking process, the impact of a company's operations and its core products and services on people and the planet are considered.
"We are proud to be named to the Corporate Knights' 2025 Global 100 list and, as a result, be considered one of the most sustainable companies in the world according to Corporate Knights," said Frédéric Lissalde, President and CEO, BorgWarner Inc. "This recognition highlights BorgWarner's dedication to driving sustainability and efforts to reduce our carbon footprint and help build a cleaner, healthier, safer future for all."
A few key sustainability highlights from BorgWarner:
87% of its revenue in 2023 was from EV and emissions-reducing hybrid and combustion products
66% of its R&D spend and 61% of its capital expenditures in 2023 went toward eProducts, which enable both electric and hybrid vehicles
Scope 1 and Scope 2 emissions were reduced by 32% as of the end of 2023 vs. 2021, supporting its goal to be carbon neutral by 2035
64% of leadership positions in 2023 were filled with internal candidates, exceeding the company's 50% goal
Voluntary turnover improved from 2022 to 2023
The company has incentivized sustainability performance, with bonus plans rewarding all levels of employees for advancing ESG initiatives
For more than 130 years, BorgWarner has been a transformative global product leader bringing successful mobility innovation to market. With a focus on sustainability, we're helping to build a cleaner, healthier, safer future for all.
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You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. These risks and uncertainties, among others, include: supply disruptions impacting us or our customers, commodity availability and pricing, and an inability to achieve expected levels of recoverability in commercial negotiations with customers concerning these costs; competitive challenges from existing and new competitors, including original equipment manufacturer ("OEM") customers; the challenges associated with rapidly changing technologies, and our ability to innovate in response; the difficulty in forecasting demand for electric vehicles and our electric vehicles revenue growth; future changes in laws and regulations, including, by way of example, taxes and tariffs, in the countries in which we operate; potential disruptions in the global economy caused by wars or other geopolitical conflicts; the ability to identify targets and consummate acquisitions on acceptable terms; failure to realize the expected benefits of acquisitions on a timely basis; the possibility that our 2023 tax-free spin-off of our former Fuel Systems and Aftermarket segments into a separate publicly traded company will not achieve its intended benefits; the failure to promptly and effectively integrate acquired businesses; the potential for unknown or inestimable liabilities relating to the acquired businesses; our dependence on automotive and truck production, which is highly cyclical and subject to disruptions; our reliance on major OEM customers; impacts of any future strikes involving any of our OEM customers and any actions such OEM customers take in response; fluctuations in interest rates and foreign currency exchange rates; our dependence on information systems; the uncertainty of the global economic environment; the outcome of existing or any future legal proceedings, including litigation with respect to various claims, or governmental investigations, including related litigation; impacts from any potential future acquisition or disposition transactions; and the other risks, noted in reports that we file with the Securities and Exchange Commission, including Item 1A, "Risk Factors" in our most recently-filed Form 10-K and/or Quarterly Report on Form 10-Q. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this release to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.
