Adient (NYSE: ADNT) shares reacted positively Wednesday to the release of its fiscal year 2024 Sustainability Report.
"Our 2024 Sustainability Report is a testament to Adient's pursuit of excellence in environmental stewardship, social responsibility and robust governance practices," said CEO Jerome Dorlack. "Our sustainability initiatives continue to support our objective to be a preeminent global supplier of automotive seating. The work detailed in this report is consistent and aligned with our business strategy."
Key Highlights from the 2024 Sustainability Report:
1. Environmental Achievements:
Greenhouse Gas Emissions: Adient has achieved a 38% reduction in global scope 1 and 2 absolute greenhouse gas emissions1 compared to the base year 2019, with a goal of achieving a 75% reduction by 2030
Renewable Energy: As of Sept. 30, 2024, 29% of Adient's total electricity consumption globally is sourced from renewable energy
Deforestation and Water Management: In fiscal year 2024, the company completed a supply chain mapping project for key forest commodities and launched initiatives to improve water management, achieving a 7% year-over-year reduction in total water withdrawals
Adient completed more than 1,500 continuous improvement projects in fiscal year 2024, resulting in significant annual savings, including 7,391 metric tons of CO2e2, 53,669 cubic meters of water, 8.8 million kWh-equivalent of fuel, 5,308 metric tons of waste, and 62 million kWh of energy.
ADNT shares gained 45 cents, or 2.5%, to $18.40.
