BorgWarner: investment in Poland and new Sustainability Report
After releasing its new Sustainability Report a couple of weeks ago, BorgWarner has announced a planned investment of two million euros in a new 3,000-square-meter technical center in Krakow, Poland, that will focus on the development of power electronics for the automotive sector, including highly advanced controllers, inverters and DC/DC converters.
BorgWarner announced a planned investment of two million euros in a new 3,000-square-meter technical center in Krakow, Poland, that will focus on the development of power electronics for the automotive sector, including highly advanced controllers, inverters and DC/DC converters. With this strategically positioned location near important European development sites, BorgWarner strengthens its electrification efforts and is positioned to create more than 250 new jobs by 2026. The focus of this technical center will be the development and design of system solutions for advanced power electronics, including hardware and software.
BorgWarner 2022 Sustainability Report
A couple of weeks ago, BorgWarner released its 2022 Sustainability Report, “Charging Forward Together,” highlighting the significant steps taken toward meeting its environmental stewardship, social responsibility and governance (ESG) objectives and outlining additional goals the company has set for this year and beyond. The Sustainability Report underscores BorgWarner’s commitment to accelerating the world’s transition to eMobility to help build a cleaner, healthier, safer future for all.
“Our beliefs of inclusion, integrity, excellence, responsibility and collaboration are found in every aspect of our operations and guide us as we work toward our vision of a clean, energy-efficient world,” said Frédéric Lissalde, President and CEO, BorgWarner. “We are proud of the significant progress we have made in recent years toward embracing sustainability in our culture and advancing electrification efforts in everything we do. We look forward to taking additional concrete steps in changing the world of mobility, alongside our partners, customers, suppliers and communities toward a brighter, cleaner and more inclusive future.”
The annual Sustainability Report gives a holistic view of BorgWarner’s commitment to being a sector leader in sustainability, addressing its refreshed sustainability strategy, investments and acquisitions of companies to enhance its electrification capabilities, diversity initiatives and more.
BorgWarner’s business strategy is central to the report, showcasing the company’s alignment with and contributions to a net-zero carbon emissions future and its target of a 45% electric revenue mix by 2030. Currently, the company is on track to generate more than 25% of its revenue from electrified vehicle parts by 2025. Additionally, the company expects about 50% of its R&D budget will be spent on eProducts in 2022 and to exceed 50% by 2025.
While looking to achieve carbon neutrality in its operations by 2035, BorgWarner set a new interim goal to reduce its absolute greenhouse gas (GHG) emissions for Scope 1 and Scope 2 emissions by 85%, compared to its 2021 emissions, by 2030. BorgWarner is also developing a Science Based Target Initiative GHG emissions reduction goal, and, as part of that process, will be estimating its Scope 3 emissions and determining its most crucial actions for GHG emission reduction.
To promote further advocacy and dedication to ESG at the highest levels of the organization, BorgWarner has linked 50% of the performance component of its executive long-term incentive plan compensation with its Charging Forward goals by incorporating an eProducts revenue mix metric.
To read the complete report, click here.
