Schaeffler Outlines Progress in Sustainability Efforts and Future Goals in 2023 Report

On March 5, 2024, Schaeffler AG announced the release of its Sustainability Report for 2023, emphasizing the integration of sustainability into its corporate strategy. The report details the company's approach to addressing environmental, social, and governance (ESG) challenges through a ten-point strategy focusing on decarbonization, innovation in product development, social responsibility, and corporate governance.

CEO Klaus Rosenfeld underscored the company's commitment to bridging sustainability and cost-efficiency, acknowledging progress and the journey ahead. The report highlights Schaeffler's holistic view of sustainability, emphasizing the implementation of its strategy across its value chain. Its Roadmap 2025 includes the "Sustainability & Engagement" subprogram to ensure goal achievement, with the Climate Action Plan playing a vital role in reducing CO2 emissions.

With a focus on ESG goals, Schaeffler targets climate neutrality in production by 2030 and across its supply chain by 2040. Its efforts led to significant achievements like a planned reduction in freshwater usage and improved sustainability ratings in 2023. Key initiatives also address decarbonizing production through renewable energy and driving sustainable product development to enhance CO2 efficiency.

The organization champions a circular economy and values-based corporate governance, with human rights, employee development, and safety as core components. Schaeffler’s consistent strides in sustainability have been acknowledged with high scores in global environmental and sustainability assessments.