Ratings focus on Yanfeng’s performance, as well as engagement of supply base
– 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.
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CDP is a global environmental impact non-profit, providing a platform for companies, cities, states, and regions to report information on their climate, deforestation and water security impacts. The global economy looks to CDP as the gold standard of environmental reporting, and we hold the world’s richest and most comprehensive dataset on how companies, cities, states and regions measure, understand and address their environmental impacts. We aim to make environmental reporting mainstream, providing the detailed insights and analysis to drive the urgent action needed for a climate-safe, deforestation-free and water-secure world.
Yanfeng is a leading global automotive supplier, focusing on interior, exterior, seating, cockpit electronics, and passive safety, and is exploring new business actively. Yanfeng has more than 240 locations and approximately 67,000 employees worldwide. The technical team of 4,200 experts is in ten R&D centers and other regional offices, with complete capabilities including engineering and software development, styling, and test validation. Focusing on Smart Cabin and lightweight technology, Yanfeng supports automakers to explore future mobility and provide leading cabin solutions.