Standard Motor Products, Inc. Announces Publication of its 2022 Corporate Sustainability Report

(Low)

(Very Positive)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Tags

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

04/19/2023 - 09:43 AM EDT

NEW YORK, April 19, 2023 /PRNewswire/ -- Standard Motor Products, Inc. (SMP) is proud to announce the publication of its third Corporate Sustainability Report that highlights SMP's continued commitment to being environmentally and socially responsible. It also provides insights into SMP's initiatives, future goals, and achievements in relation to its business, employees, communities and the planet.

SMP's 2022 Corporate Sustainability Report highlights a continued commitment to environmental and social responsibility.

Eric Sills, Chief Executive Officer of SMP, stated, "On behalf of our entire SMP family, I am pleased to share with you our 2022 Corporate Sustainability Report. To deliver on the objectives that we established in our previous report, SMP has made significant enhancements to our environmental, social, and governance profile. We believe that these initiatives will provide long-term value to our Company, stakeholders, and the communities within which we operate."

Highlights of this report include:

The implementation of practices that contribute to a greener car parc, including assisting in the control of vehicle emissions and introducing additional components for hybrid and electric vehicles
Reduction of its carbon footprint and progress toward its ambition to achieve net-zero greenhouse gas emissions by 2050, and updates to its energy, water and waste management programs
A reported reduction in scope 1 and 2 GHG emissions (Intensity) by 11% compared to 2021, and 30% compared to the 2019 baseline year, and a reduced total usage of water (Intensity) by 9% compared to 2021, and 29% compared to the 2019 baseline year
Enhancing diversity, equity, inclusion and belonging programs, as well as employee training, development and retention, while prioritizing health and safety
Diversification of its Board of Directors
The appointment of a director of global sustainability to analyze opportunities, develop strategies, and monitor environmental supply chain efforts worldwide

The 2022 Corporate Sustainability Report is now available at SMP 2022 Sustainability Report.

About SMP

With over 100 years in business, Standard Motor Products, Inc. is a leading independent manufacturer and distributor of premium automotive replacement parts utilized in the maintenance, repair and service of vehicles in the automotive aftermarket industry. In addition, SMP continues to increase its supplier capabilities with a complementary focus on specialized original equipment parts for manufacturers across multiple industries such as agriculture, heavy duty, and construction equipment. SMP sells its products primarily to automotive aftermarket retailers, program distribution groups, warehouse distributors, original equipment manufacturers and original equipment service part operations in the United States, Canada, Europe, Asia, Mexico and other Latin American countries. For more information, download the SMP Parts App or visit SMPcorp.com.