TI Fluid Systems publishes its inaugural Sustainability Report

TI Fluid Systems (TIFS) has published its 2021 Sustainability Report underscoring its commitment to all aspects of sustainability. The first stand-alone Sustainability Report published by TI Fluid Systems is aligned with the Global Reporting Initiative (“GRI”) standard and clearly sets out the company’s approach to its environmental responsibility and promoting the health and social wellbeing of its employees and the communities it operates in. It also highlights important environmental, social, and governance (ESG) achievements made by the company to date.

Sustainability is a key element of TI Fluid Systems’ Take the Turn strategy (T³) which addresses the risks and opportunities associated with the electrification of the automotive sector and the need to operate its business in a more sustainable manner. Take the Turn is made up of three elements: Technology – focusing on vehicle electrification; Transformation – committing to a more sustainable business; and Talent – investment in people and learning. 

Technology

Product development to support the global automotive sector’s shift to electrification is a key element of the Take the Turn Strategy. TI Fluid Systems is capitalising on 100 years of experience in automotive fluid handling and management to develop efficient and economical thermal management systems for its OEM customers’ next generation of battery electric and hybrid vehicles. Since 2020, the company has held the London Stock Exchange’s Green Economy Mark, which recognises that it generates 50% or more of its total annual revenue from products that contribute to the global green economy. In 2021, TI Fluid Systems’ lifetime revenue of product bookings for battery electric and hybrid vehicles totaled €1.7 billion.  

Transformation

TI Fluid Systems recognises that, while its products contribute to the electrification and decarbonisation of the automotive sector, it must also transform its own business operations to be more sustainable. In 2021, the company committed to a 37.5% reduction in Scope 1 and 2 CO₂e emissions by 2039, consistent with the Paris Agreement Well Below 2°C scenario, through increased use of renewable electricity together with energy efficiency projects. The company is now considering updated science-based CO₂e targets consistent with a 1.5 °C scenario.

The company is also committed to reducing water use and protecting the quality of water in the communities where it operates. It is implementing a strategy to reduce water use and increase water conservation, with a particular focus on areas with water scarcity issues, including a commitment to reduce water use across some plants by up to 25% by 2030.

Transformation also includes improving how TI Fluid Systems engages with local communities through involvement and development. In addition to many local community and charitable projects, the company is in the process of establishing a scholarship programme in several countries to help local female students pursue further education in STEM (science, technology, engineering and mathematics).

Talent

The third element of the Take the Turn strategy recognises that TI Fluid Systems’ success is directly linked to its ability to recruit, retain, motivate and develop a diverse and talented workforce. In 2021, it introduced the Fluid Learning online platform, providing all salaried employees access to a range of education and developmental tools.

In 2021 TI Fluid Systems also set up the Women’s Network Mentoring Programme which provides opportunities for women across the organisation to accelerate their careers, while creating meaningful connections with leaders. That same year, its manufacturing facility in Montornès, Spain, received the Lismivo Award which recognises support for diversity in the workforce.

Hans Dieltjens, President and CEO of TI Fluid Systems, said: “Publishing our inaugural Sustainability Report is an important milestone in our journey to becoming a more sustainable business. As well as developing our product portfolio in-line with the industry’s shift to electrification, we are committed to evaluating and improving every aspect of our company to ensure that we operate in the most sustainable and responsible manner possible. Our 2021 Sustainability Report highlights some key achievements that we can be proud of, but we know this is just the beginning. Guided by our Take the Turn strategy, I am confident that our direction of travel is the right one.”