Leading global automotive supplier, Yanfeng recently received an A minus rating from CDP on the company’s performance on Climate Change. In addition, Yanfeng also received an A rating on Supplier Engagement. CDP is a not-for-profit that runs the global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts.
To receive its rating, the company completed a questionnaire focused on the areas of business strategy and financial planning; value chain engagement; targets; emission reduction initiatives; Scope 1, 2 emissions; Scope 3 emissions; energy; governance; opportunity disclosure as well as risk disclosure and risk management processes.
Yanfeng began reporting several years ago and has substantially improved its rating. It also is a leader amongst peer companies in our industry.
In addition to Yanfeng’s corporate performance rating, the company was also recently notified of its Supplier Engagement rating of A. This rating puts the company in the Leadership Band amongst its peers. CDP evaluates organizations’ engagement with their suppliers on climate change. By evaluating supplier engagement and recognizing best practices, CDP aims to accelerate global action on supply chain emissions.
“Sustainability in all areas of our business is a core part of Yanfeng’s strategy. Not only does Yanfeng focus on our own performance in this area, but we also closely monitor the performance of our supply base and regularly engage with them,” said Gerald Jia, CEO, Yanfeng. “We are proud of what the team has accomplished and our CDP ratings.”
In the area of climate reduction, Yanfeng has commitments in multiple areas. The company has a sustainability roadmap with goals related to Corporate Carbon Footprint Scopes 1, 2, and 3, which can be found in its most recent Corporate Social Responsibility Report. In addition, Yanfeng conducts a Risk and Opportunity Assessment that has Emission Reduction Targets for each region and has increased its use of renewable energy sources.
Currently, all locations in Europe are powered by renewable energy, with other regions increasing their use as well. In addition, Yanfeng has started work on six additional solar panel projects with the company’s partners globally to produce energy at its plants. The first project in Neustadt, Germany recently launched.