Ford today unveiled its 2022 Integrated Sustainability and Financial Report, which focuses on switching to electric vehicles, including plans to increase it to 2 million electric vehicles a year by 2026 and make it half electric by the end of the decade.
“Ford is committed to achieving carbon neutrality no later than 2050, with the support of science-based intermediate goals that it will achieve by 2035. The new report contains voluntary disclosures of climate-related information and details. [our] “Progress in reducing emissions per vehicle by 50% from baseline 2019 and by 76% from emissions from base operations in 2017,” the automaker said in a statement.
“Last year, the company achieved a 35% reduction in the volume of absolute production of greenhouse gases compared to the level of 2017.
Ford said the shift to electric vehicles was crucial to achieving its sustainability goals, but such a shift was accompanied by challenges, including raw material extraction, battery recycling and human rights issues.
Ford also released a human rights report, for the first company and the U.S. auto industry, and a joint working group on climate-related financial disclosure and climate risk scenarios.
“The truest sign of success is whether we leave the world a better place for the next generation. Each year, our integrated report reminds us of our commitment to our values and our aspiration to move the needle on important issues. This has been the case since we published the report 23 years ago, for the first industry. And that could not be more true today, “said CEO Bill Ford.
“[The] Human Rights Report ლის examines how our materials are obtained, where our products are manufactured, and how our labor standards are assessed. I’m proud of the progress we have made over the last two decades and look forward to our achievements. ”
“To compete and win in a new era of electric and related vehicles,” Ford plans to invest $ 50 billion globally between 2022 and 2026 to build electric vehicles and their batteries. The company will do what it says was “the most advanced and efficient auto factory in the world, creating thousands of new jobs and creating a sustainable and ethical supply chain.”
“This year’s report is significant because it demonstrates Ford’s long-standing commitment to transparency and self-responsibility,” said Cynthia Williams, Global Director of Sustainability, Homologation and Compliance.
“This gives our stakeholders a clear picture of how we are going to put people first and respect human rights when switching to electric vehicles, based on our heritage of climate action and the environment.” “Our company’s strategy and sustainability goals are inextricably linked – which is good for the planet, good for our customers and good for our business.”
The 2022 Integrated Sustainability and Financial Report outlines how Ford +’s plan for growth and value creation builds on the company’s significant fundamental strength to expand electric vehicle manufacturing and use feedback and breakthrough technology to make its products more affordable, inclusive and secure.
Ford was one of the first American automakers to join the international community in limiting global warming as part of the Paris Agreement, and the company aims to create a business model that goes beyond pure zero and becomes purely positive.
Highlights from the 2021 Integrated Report:
• Ford has partnered with RouteZero, a global coalition aimed at curbing global warming, to achieve zero emissions from all new car and van sales in leading markets by 2040 and no later than 2035.
• The company introduced a sustainable financing framework to guide investment in social and environmental projects, paving the way for a “green” bond that raised $ 2.5 billion over 10 years to help fund the company’s new electric vehicle line.
• Ford and SK Innovation Announces Planned $ 11.4 Billion Joint Investment in BlueOval City and Three BlueOval SK Joint Venture Plant in Kentucky and Tennessee – Megacities that will create 11,000 new jobs and help create a sustainable production ecosystem. Ford will also invest $ 525 million over the next five years in professional development and training of auto technicians to service electric and related vehicles.
• Ford is partnering with Redwood Materials, a battery materials company to make electric vehicles more sustainable and affordable for Americans, localizing the supply chain network to create scrap and lifetime battery recycling options, and enhancing lithium-ion battery recycling. Ford also plans to open a global battery center in southeastern Michigan. Ion ParkNew investments in the design, testing, and construction of battery cells and cell arrays focused on lithium ion solid state battery technology
• The company has joined the US Department of Energy to challenge the better climate to reduce greenhouse gas emissions from its facilities by at least half by 2030, in line with its commitment to provide 100% carbon-free electricity to its facilities by 2035.
• Ford has reduced annual water consumption by more than 78% since 2000 and imposed 89 zero wastes on landfills globally, while reducing global carbon footprint by more than 35% to 2017 levels.
• The company has set a new Diversity, Equality and Inclusion (DEI) goal to increase gender and racial diversity in its senior management, tracking this quarter. It has expanded its diversity in the US, capital and inclusive audits to seven additional major markets in 2021 and advances in equity.
• Together with its philanthropic group, the Ford Fund, the automaker has made $ 74.4 million in charitable contributions to build its own capital and strengthen service and representation communities around the world. Ford and the Ford Foundation together donated 120 million masks to individuals and organizations in all 50 states to help fight the spread of COVID-19, opened a community vaccine center in Romania, and distributed food and medical supplies to thousands of families in the South. America, along with other initiatives
“Operating results and other metrics from 2021 show that Ford +’s plan is working to create growth and value,” said the automaker.
Revenue, net income, and adjusted earnings before interest and taxes improved year on year despite industry-wide semiconductor shortages, other supply chain delays, and the ongoing effects of the COVID-19 pandemic.
“The company is making tremendous progress in both strategic business directions and financial activities.
This is the second year that Ford has compiled its annual financial and sustainability reports, “a more comprehensive view of its progress, marking 23 years of transparency and rigor in its sustainability reporting for investors and stakeholders.”
Editor’s note: The full integrated sustainability and financial report can be found here Sustainability.ford.com.
Ford publishes sustainability and financial report
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