Stoneridge Publishes Inaugural Task Force for Climate-Related Financial Disclosures (TCFD) Report

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Stoneridge, Inc. (NYSE: SRI) has released its first Task Force for Climate-Related Financial Disclosures (TCFD) report, aligning with the disclosure recommendations of the TCFD. The report details efforts to address climate-related risks and opportunities in governance, strategy, risk management, and metrics and targets. The International Financial Reporting Standards (IFRS) Foundation is monitoring companies' progress on TCFD recommendations. Stoneridge aims to understand and manage climate-related risks as a global transportation industry supplier. The company plans to expand on environmental, social, and governance topics in its upcoming Sustainability Report.

NOVI, Mich., Jan. 31, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) announced today it has published its first Task Force for Climate-Related Financial Disclosures (TCFD) report. The Company's TCFD report can be found at TCFD Report. This report aligns with the disclosure recommendations of the TCFD and details efforts underway at Stoneridge to address both the risks and opportunities related to climate change. The TCFD was established by the Financial Stability Board to develop consistent reporting recommendations that enable companies to disclose climate-related information to stakeholders in four areas: governance, strategy, risk management, and metrics and targets. As of November 2023, the International Financial Reporting Standards (IFRS) Foundation is monitoring companies' progress on recommendations made by the TCFD.

"As a global supplier in the transportation industry, Stoneridge continually works to better understand and manage climate-related risks," said Susan Benedict, Chief Human Resources Officer and Assistant General Counsel. "Our TCFD report compiles the sustainability efforts of our organization into a consistent reporting framework and represents another step in our overall sustainability journey. We look forward to sharing progress on our sustainability efforts through continued public disclosures, including publishing our first Sustainability Report later this year that will expand on other environmental, social, and governance topics."

About Stoneridge, Inc.
Stoneridge, Inc., headquartered in Novi, Michigan, is a global designer and manufacturer of highly engineered electrical and electronic systems, components and modules and systems for the automotive, commercial, off-highway and agricultural vehicle markets. Additional information about Stoneridge can be found at www.stoneridge.com.

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SOURCE Stoneridge, Inc.

FAQ

What is the ticker symbol for Stoneridge, Inc.?

The ticker symbol for Stoneridge, Inc. is SRI.

What is the TCFD report about?

The TCFD report details Stoneridge's efforts to address climate-related risks and opportunities in governance, strategy, risk management, and metrics and targets.

Who is monitoring companies' progress on TCFD recommendations?

The International Financial Reporting Standards (IFRS) Foundation is monitoring companies' progress on TCFD recommendations.

What is the focus of Stoneridge's sustainability efforts?

Stoneridge aims to understand and manage climate-related risks as a global transportation industry supplier, and plans to expand on environmental, social, and governance topics in its upcoming Sustainability Report.