GlobalData offers a comprehensive analysis of Nexteer, 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 Nexteer’s ESG performance. GlobalData’s company profile on Nexteer 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.
Nexteer, a global automotive steering and driveline systems supplier, underscoring environmental stewardship as fundamental to its overall performance, proactively explores strategies to diminish its carbon footprint. This encompasses adopting renewable energy, monitoring resource usage, and implementing efficient technologies to address climate change. Nexteer is committed to reducing greenhouse gas (GHG) emissions, positioning itself for climate resilience and the transition to a low-carbon economy, showcasing a steadfast commitment to environmental responsibility.
Nexteer is committed to addressing greenhouse gas (GHG) emissions across its operations. In 2022, Nexteer reported greenhouse gas (GHG) emissions of 44,223 tCO2e for Scope 1, arising from direct energy consumption in operations, including natural gas, propane, gasoline, and diesel fuel usage. Scope 2 GHG emissions, totaling 179,972 tCO2e, were indirectly derived from purchased electricity and steam heating, employing a market-based methodology with a 2.86% reduction. Additionally, Scope 3 GHG emissions amounted to 1,633,292 tCO2e, covering other indirect emissions from waste, purchased goods and services, and capital goods. The comprehensive GHG emissions for the reporting year totaled 1,857,487 tCO2e.
Nexteer focuses on managing its GHG emissions, water usage, and hazardous and non-hazardous waste. By implementing an environmental management system, Nexteer aims to achieve sustainable resource management and efficient use of natural resources. Nexteer is also investing in renewable energy sources and increasing the share of renewable energy in its global energy mix. Nexteer's current climate-related objectives include the goal of reducing annual energy usage per unit of production by 6% and is working towards doubling the global rate of improvement in energy efficiency by 2030. In 2023, the company intends to persist in developing its climate roadmap and exploring opportunities for enhancing quantitative targets.
In terms of supply chain management, Nexteer has implemented supplier requirements and principles to ensure environmental and social responsibility throughout its supply chain. The company promotes environmentally preferable products and services when selecting suppliers and works to identify and mitigate environmental and social risks along the supply chain.
In conclusion, Nexteer is steadfastly committed to diminishing its environmental footprint and making significant strides in reducing carbon emissions. The company actively pursues enhanced energy efficiency and investments in renewable energy sources. Leveraging its environmental management system and embracing sustainable supply chain practices, Nexteer is dedicated to responsible resource management, with the goal of minimizing its overall environmental impact.