Market Overview

Lear Climate Change Strategy Aims for Net Zero Emissions by 2050

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SOUTHFIELD, Mich., Oct. 14, 2020 /PRNewswire/ -- Lear Corporation (NYSE:LEA), a global automotive technology leader in Seating and E-Systems, today expanded its sustainability efforts by announcing several new environmental goals, including achieving net zero emissions by 2050.

Lear further plans by 2030 to use 100% renewable energy at the company's manufacturing facilities and reduce carbon emissions by 50%. The timeframes align with the U.N. Intergovernmental Panel on Climate Change to limit global warming, based on 2019 data.

"Setting the goal for Lear to achieve net zero emissions by 2050 is a significant next step that builds on actions already underway at our company," said Ray Scott, President and CEO. "We believe designing and manufacturing products with world-class innovation and quality for our customers is compatible with protecting the environment. These efforts go hand in hand."

To attain net zero emissions by 2050, Lear will increase renewable energy use, improve energy efficiency at facilities, expand engineering efforts for vehicle electrification and lighter weight products, and heighten sustainability requirements for its suppliers. Lear is committing to these actions with an understanding of the potential challenges that are ahead, including the availability of renewable energy, changing directives from local governments, unpredictable financial markets and long-term support from consumers for zero- or low-emission solutions.

"To achieve these goals, we will partner with our customers, suppliers and policymakers to focus on further advancing technologies that reduce carbon emissions," Scott said. "We will also encourage our employees to contribute to creating a cleaner environment, not only while they are at work, but while they are at home, too."

The goals to reduce Lear's carbon footprint are just one aspect of the company's overall environmental, social and governance (ESG) efforts, as will be highlighted in its upcoming corporate sustainability report. Other highlights include new zero deforestation and human rights policies.

About Lear Corporation
Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Our diverse team of talented employees in 39 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 166 on the Fortune 500. Further information about Lear is available at lear.com, or follow us on Twitter @LearCorporation.

 

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SOURCE Lear Corporation

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