Cooper Standard Establishes Carbon Neutral Targets in Updated Corporate Responsibility Report

Rhea-AI Summary

Cooper Standard (NYSE: CPS) has released its 2024 Corporate Responsibility Report, announcing ambitious carbon neutrality targets of 2040 for Europe and 2050 globally. The company completed its first double materiality assessment aligned with EU's Corporate Sustainability Reporting Directive. The report, titled "Transformation: Change is Constant," outlines key priorities including energy management, greenhouse gas emissions, climate change adaptation, workforce development, and business ethics.

Under CEO Jeffrey Edwards' leadership, Cooper Standard aims to develop near-term science-based targets while focusing on sustainable practices and stakeholder value. The company's comprehensive approach addresses various aspects including product lifecycle, circularity, waste management, workforce health and safety, responsible sourcing, and business continuity.

Positive

• Established clear carbon neutrality targets: 2040 for Europe and 2050 globally
• Completed first double materiality assessment aligned with EU regulations
• Demonstrated commitment to sustainability and stakeholder value through comprehensive ESG initiatives

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• None.

NORTHVILLE, Mich., May 14, 2025 /PRNewswire/ -- Cooper Standard (NYSE: CPS) today announced the release of its 2024 Corporate Responsibility Report, titled "Transformation: Change is Constant," underscoring the Company's continued commitment to ethical business practices, environmental stewardship, philanthropic outreach, and financial strength. Notably, the 2024 report announces the Company's commitment to develop near-term science-based targets that will pave the way toward the Company's aspiration to become carbon neutral by 2040 in Europe and 2050 globally.

"In an industry where change sometimes seems to be the only constant, we embrace the need to be agile and adaptable to effectively meet ever higher regulatory standards and customer requirements," said Jeffrey Edwards, chairman and CEO of Cooper Standard. "Over the past five years we have effectively transformed the Company to make it stronger and more competitive, while still maintaining a constant focus on sustainability and our core Company values. We have set the bar high in terms of our sustainability goals and objectives, and we are proud of the progress we are making toward achieving them."

In 2024, Cooper Standard conducted its first double materiality assessment, which was aligned to the requirements of the European Union's Corporate Sustainability Reporting Directive. The Company partnered with an objective third party to follow the process set forth by the European Sustainability Reporting Standards to develop and evaluate Impact, Risk and Opportunity statements related to its business operations and value chain.

The Company's 2024 Corporate Responsibility Report discusses these priorities, that include: energy; greenhouse gas emissions; climate change adaptation; product lifecycle, circularity and waste; workforce engagement and development; workforce health, safety and wellbeing; talent attraction and retention; human rights and labor relations; business ethics and integrity; responsible sourcing; business continuity and disaster recovery; and customer trust and satisfaction.

"We strive to be an industry leader by benchmarking against our peers, identifying areas for improvement and aspiring to exceed industry standards," said Edwards. "The report outlines the measurable progress Cooper Standard has made in addressing the evolving needs of our stakeholders – employees, customers, investors, suppliers and communities – through transparent strategies aligned with our Core Values. It also details the Company's proactive responses to global industry challenges and its unwavering dedication to delivering long-term value in a dynamic market environment."

To review Cooper Standard's 2024 Corporate Responsibility Report, please visit: https://cooperstandard.com/company/our-social-responsibility-commitment.

About Cooper Standard

Cooper Standard, headquartered in Northville, Mich., with locations in 20 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard's approximately 22,000 team members (including contingent workers) are at the heart of our success, continuously improving our business and surrounding communities. Learn more at www.cooperstandard.com or follow us on LinkedIn, X, Facebook, Instagram or YouTube. 

Contact: Chris Andrews
Cooper Standard
(248) 596-6217
candrews@cooperstandard.com

 

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SOURCE Cooper Standard

FAQ

What are Cooper Standard's (CPS) carbon neutrality targets announced in 2024?

Cooper Standard announced targets to become carbon neutral by 2040 in Europe and 2050 globally, as revealed in their 2024 Corporate Responsibility Report.

What key priorities did Cooper Standard address in its 2024 sustainability report?

The report addressed priorities including energy, greenhouse gas emissions, climate change adaptation, product lifecycle, workforce development, health and safety, human rights, business ethics, responsible sourcing, and customer satisfaction.

What significant assessment did Cooper Standard (CPS) complete in 2024?

Cooper Standard completed its first double materiality assessment aligned with the European Union's Corporate Sustainability Reporting Directive, partnering with a third party to evaluate impact, risk, and opportunity statements.

Who is the current CEO of Cooper Standard (CPS) and what is their stance on sustainability?

Jeffrey Edwards is the Chairman and CEO of Cooper Standard. He emphasizes the company's commitment to sustainability, adaptability to regulatory standards, and focus on core company values while maintaining competitiveness.