(NewsDirect)
Cooper Standard(NYSE: CPS) today issued its 2021 Corporate Responsibility Report(CRR), titled “Together” to reflect the Company’s updatedpurpose statement, “Creating Sustainable Solutions Together.” Thereport offers insights on key topics considered important by theCompany's stakeholders, including its 2021 materiality assessment,new Company Purpose, Mission and Value statements, and an update onits Driving Value Plan.
“Together is a word that brings strong meaning and representsan important element of Cooper Standard’s culture,” said JeffreyEdwards, chairman and CEO, Cooper Standard. “While we haveaccomplished much together, we are not finished. Together, we willcontinue our quest to create the solutions needed for a sustainablebusiness, sustainable products, sustainable partnerships and asustainable future.”
CooperStandard conducted its first materiality assessment in 2016, and in2021 completed its third assessment. This process, in line with bestpractices, helps ensure the Company is managing and reporting on thesustainability issues most important to the industry and itsstakeholders. The most recent materiality assessment identified sevenclear priorities that are critical to the Company’s sustainabilityefforts, which include its financial goal of achieving and sustainingdouble-digit adjusted EBITDA margins and returns on invested capital.The priorities include:
- business Ethics and Integrity: maintaining aworld-class reputation for conducting honest, ethical and responsiblebusiness practices;
- Climate Change: reducing theCompany’s impact on the environment;
- Diversity, Inclusionand Belonging: building an inclusive and supportive environment toretain and attract the best talent to achieve businessobjectives;
- Employee Engagement and Talent Recruitment: achieving world-class performance in talentstrategy;
- Energy and Greenhouse Gas (GHG) Emissions: improving energy efficiencies and using increasingly renewable energysources to improve performance, decarbonize operations, and reduce GHGemissions;
- Innovation: enhancing products and embracinginnovative ideas to fulfill the Company’s Mission to “Be the FirstChoice of the Stakeholders We Serve;” and
-
Product LifeCycle:
implementing sustainable practices through each stageof our product lifecycle while also balancing the technological andeconomic limitations to the sustainability of relevant materials forour products.
The 2021 CRR shares goals and discussions for these top issues,as well as other ESG and product-related topics. To view the currentreport, clickhere .
AboutCooper Standard
Cooper Standard, headquartered in Northville, Mich., withlocations in 21 countries, is a leading global supplier of sealing andfluid handling systems and components. Utilizing our materials scienceand manufacturing expertise, we create innovative and sustainableengineered solutions for diverse transportation and industrialmarkets. Cooper Standard's approximately 23,000 employees are atthe heart of our success, continuously improving our business andsurrounding communities. Learn more at www.cooperstandard.com orfollow us on Twitter @CooperStandard.
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Contact Details
Chris Andrews
+1248-596-6217
CompanyWebsite
http://www.cooperstandard.com/
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