Every Day, Striving for Better: Lear Publishes 2023 Sustainability Report

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Lear (NYSE: LEA), a global automotive technology leader, has released its 2023 Sustainability Report, highlighting progress on climate goals, sustainable product innovations, and inclusion initiatives. Key achievements include:

• Reporting Scope 3 emissions data for the first time
• Commissioning four new on-site solar arrays
• Achieving 100% renewable electricity in four European countries
• Reaching landfill-free status at 39 facilities in 15 countries

Lear's sustainable products include ReNewKnit™ sueded surface material and FlexAir™, a recyclable non-foam alternative. The company also provided 7.5 million hours of training and enhanced supplier sustainability efforts. Lear's report aligns with GRI Standards, SASB framework, and TCFD recommendations.

SOUTHFIELD, Mich., July 30, 2024 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today released its 2023 Sustainability Report, outlining the company's progress on its climate goals, sustainable product innovations, supplier sustainability efforts and inclusion initiatives.

"Through hundreds of efficiency projects and the increased use of renewable energy at our operations around the world, we are pleased to report that Lear is making progress toward our climate goals," said Ray Scott, Lear President and CEO. "In addition, major automakers are adopting our sustainable product innovations, which are designed to reduce environmental impact, lower carbon emissions and use recycled and recyclable content to support a global circular economy."

Key highlights from the report include:

Environmental Stewardship

• Reported Scope 3 emissions data for the first time, with Scope 1, 2 and 3 data verified by a third party
• Commissioned four new on-site solar arrays; now using renewable energy generated at 14 sites in six countries
• Sourced 100% of electricity from renewable sources for all facilities in Germany, Portugal, Spain and the United Kingdom
• Achieved landfill-free status at 39 facilities in 15 countries

Sustainable Products

• Supplied 2023 PACE Award finalist ReNewKnit™ sueded surface material, made from 100% recycled plastic bottles, for seating and other interior applications for multiple global automakers in 2024
• Launched FlexAir™, a 100% recyclable non-foam alternative that has the potential to reduce CO2e emissions by up to 50% and reduce weight by up to 20%, with a major global automaker
• Enhancing electric vehicle performance with Lear's Intercell Connection Boards and Battery Disconnect Units

Supporting our People

• Provided 7.5 million hours of developmental, compliance and corporate training
• Piloted Lear's JumpStart program to help mid-career professionals who have been out of the workforce update their skills and pursue new opportunities

Governance

• Enhanced efforts to support supplier sustainability with expanded training on human rights for suppliers and Lear's procurement teams
• Conducted a survey, via a third party, of more than 8,000 global salaried employees to assess Lear's ethical culture

"It is our job to make our business sustainable for the benefit of the people who work here, as well as those who invest in us, the customers we supply and the communities we support around the world," said Harry Kemp, Lear Senior Vice President, Chief Administrative Officer and General Counsel. "A key to our success has been the dedication of our team members who have participated in volunteer efforts around the world. Whether planting trees or addressing local needs, they have helped further Lear's efforts to protect our people and the environment."

Lear reports with reference to the GRI Standards, as well as the Sustainability Accounting Standards Board (SASB) framework and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. To download Lear's 2023 Sustainability Report, visit lear.com/sustainability.

About Lear Corporation 

Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Lear's diverse team of talented employees in 38 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 174 on the Fortune 500. Further information about Lear is available at lear.com.

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SOURCE Lear Corporation

FAQ

What are the key environmental achievements in Lear's 2023 Sustainability Report?

Lear's 2023 Sustainability Report highlights several key environmental achievements, including reporting Scope 3 emissions data for the first time, commissioning four new on-site solar arrays, sourcing 100% renewable electricity in Germany, Portugal, Spain, and the UK, and achieving landfill-free status at 39 facilities in 15 countries.

What sustainable products has Lear (LEA) introduced according to the 2023 report?

Lear has introduced ReNewKnit™, a sueded surface material made from 100% recycled plastic bottles, and FlexAir™, a 100% recyclable non-foam alternative that can reduce CO2e emissions by up to 50% and weight by up to 20%. These products are designed for seating and other interior applications in vehicles.

How is Lear (LEA) supporting its employees according to the 2023 Sustainability Report?

Lear is supporting its employees by providing 7.5 million hours of developmental, compliance, and corporate training. The company has also piloted the JumpStart program to help mid-career professionals who have been out of the workforce update their skills and pursue new opportunities.

What reporting standards does Lear (LEA) follow for its 2023 Sustainability Report?

Lear's 2023 Sustainability Report follows the GRI Standards, the Sustainability Accounting Standards Board (SASB) framework, and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.