Stoneridge Releases Inaugural Sustainability Report

News provided by

Apr 10, 2024, 10:00 ET

Highlights Progress on Environmental, Social, and Governance Initiatives

NOVI, Mich., April 10, 2024 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today published its inaugural sustainability report which highlights the company's global progress related to its environmental, social, and governance (ESG) initiatives through fiscal year 2023.

"Stoneridge's inaugural Sustainability Report is a milestone in our company's history as it reflects our commitment to integrating sustainable practices throughout our business," said Jim Zizelman, president and CEO, Stoneridge, Inc. "We're proud of the progress we have made thus far and look forward to continuing to share the work Stoneridge is doing to positively impact the world around us."

The Company's four sustainability pillars – Our Products, Our Operations, Our People, and Our Governance – are the foundation of this report, and the areas in which Stoneridge reports its performance.

Accomplishments highlighted in the 2023 Sustainability report include:

18.6% reduction of Absolute Scope 1 and Scope 2 GHG Emissions against a 2019 baseline, exceeding initial targeted reduction by 3.6%
Achievement of a B score on CDP Climate Change Disclosure
Formation of Diversity, Equity, and Inclusion (DEI) committee structure and strategy
Published first Task Force for Climate-Related Financial Disclosures (TCFD) Report
Disclosed first Sustainable Accounting Standards Board (SASB) Standards Index
Alignment with United Nations (UN) Sustainable Development Goals

For more information on the company's sustainability initiatives and to view the full 2023 report, visit www.Stoneridge.com/Sustainability.

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 for the automotive, commercial, off-highway and agricultural vehicle markets. Additional information about Stoneridge can be found at Stoneridge.com.

SOURCE Stoneridge, Inc.