GlobalData offers a comprehensive analysis of Gentherm, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Gentherm‘s ESG performance. GlobalData’s company profile on Gentherm offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Gentherm, a global leader in thermal management technologies, in its commitment to sustainability, strives to minimize its environmental impact. The company believes its product lineup plays a crucial role in reducing the environmental impact of automobiles through innovative products and technologies. Additionally, Gentherm focuses on enhancing operational efficiency, promoting responsible resource utilization, increasing renewable energy usage, and reducing emissions throughout its operations. Gentherm's efforts align with the United Nations Sustainable Development Goals (SDGs), including Climate Action, Responsible Consumption and Production, and Affordable and Clean Energy.
In its 2022 Sustainability Report, the company committed to lowering its Scope 1 and Scope 2 emissions by 59% by the year 2035. The company recorded Scope 1 & 2 emissions totaling 33,889 MT of CO2e in 2022, representing a 5.4% reduction from the previous year. Of this overall figure, 1,934 MT (5.7%) were attributed to Scope 1 emissions, derived from the local direct use of resources like natural gas and heating oil. The remaining 31,955 MT (94.3%) were linked to Scope 2 emissions, calculated based on purchased power sources such as electricity and steam. The cumulative carbon footprint for Scope 3 emissions across various categories is 2,057,855 MT CO2e. These include purchased goods & services, capital goods, fuel and energy related activities, upstream transportation & distribution, waste generated in operations, business travel, employee commuting, upstream leased assets, use of sold products, and end-of-life treatment of sold products. Gentherm emphasizes the significance of reducing energy consumption from non-renewable sources, as over 94% of the company's CO2e emissions are attributed to purchased energy (Scope 2). This strategic focus is instrumental in achieving the committed reduction target by 2035.
In pursuit of its long-term targets, Gentherm has implemented diverse measures and substantial investments, with a key focus on enhancing resource efficiency and reducing waste. The company's commitment is evident in its efforts to lower landfill percentages, elevate recycling rates, and diminish hazardous waste intensity, aiming to create a positive impact on its manufacturing footprint.
Focusing on responsible consumption and production patterns, Gentherm has introduced innovative processes that significantly decrease water consumption by over 90% and reduce CO2 emissions by over 98% compared to traditional methods. Additionally, the company actively participates in voluntary renewable energy purchases, invests in solar power generation and usage, and is a member of the U.S. Environmental Protection Agency (EPA) Green Power Partnership program. Notably, seven of Gentherm's locations operated on 100% renewable electricity in 2022, with plans to further increase renewable energy usage in the future.
In conclusion, Gentherm is actively working towards minimizing its environmental impact by implementing various measures to reduce its carbon emissions. The company's commitment to sustainability highlights its dedication to combatting climate change and promoting responsible consumption and production. Through investments in renewable energy, waste reduction, and resource efficiency, Gentherm is making significant progress towards achieving its emission reduction goals.