Cooper Standard Issues 2020 Corporate Responsibility Report Highlighting Record Safety Performance, Customer Recognition and COVID-19 Response

Rhea-AI Summary

Cooper Standard (NYSE:CPS) has released its 2020 Corporate Responsibility Report, titled "Stronger: Teams, Partnerships, Business," highlighting its record safety achievements, customer recognition, and initiatives during COVID-19. The report outlines the company's long-term ESG goals, including improving workforce diversity, enhancing workplace safety, and increasing community involvement. CEO Jeffrey Edwards emphasized the firm's commitment to sustainability and plans for updated ESG goals post a materiality assessment in 2021. Detailed metrics are available in the full report.

Positive

• Record safety performance reported in 2020 CRR.
• Commitment to enhancing workforce diversity.
• Proactive community involvement initiatives.
• Focus on sustainability and climate change adaptation.

Negative

• None.

NORTHVILLE, MI / ACCESSWIRE / May 19, 2021 / Cooper Standard (NYSE:CPS) today issued its 2020 Corporate Responsibility Report (CRR), titled "Stronger: Teams, Partnerships, Business," offering insight on topics deemed important by the Company's stakeholders, including its record safety performance, customer recognition, talent management, innovation, diversity and inclusion and an overview of its COVID-19 actions and accomplishments.

Following the Company's 2019 ESG materiality assessment, Cooper Standard engaged its Global Leadership Team to set forward-looking targets for many of its significant topic areas. These long-term targets address both management and performance across ESG and product-related activities.

"As the Company grows stronger, we continue to push our horizons," said Jeffrey Edwards, chairman and CEO, Cooper Standard. "We are building on our successes and learning from our challenges. I'm pleased to share our progress towards our long-term goals supporting key environmental, social and governance material topics."

Cooper Standard's strategic goal-setting process helps ensure the Company provides information to its stakeholders in a transparent, consistent way and informs key decisions for its business. The following is a list of the Company's 2020 ESG goals. Detailed metrics for each of these goals can be found in the 2020 CRR report here.

• Talent Strategy: Achieve world-class performance in talent strategy and continue to improve the diversity of its global workforce;
• Workplace Health & Safety: Continue building a world-class safety culture;
• Community Involvement: Continue giving back to communities where we work and live;
• Innovation, Materials & Product Lifecycle: Embed sustainability throughout the Company's daily business activities;
• Product Quality & Safety: Continue driving proactive efforts to help prevent workplace incidents;
• Customer Satisfaction: Continue to listen to the voice of the customer to meet or exceed their needs and expectations;
• Information & Data Security: Strengthen and improve the Company's data and information security processes and infrastructure;
• Ethics & Compliance: Maintain a world-class reputation for conducting honest, ethical and responsible business practices;
• Human Rights: Implement screening efforts with the Company's GROW suppliers (those with whom the Company has decided to strategically grow its business); and
• Energy, Emissions & Waste: Reduce the Company's impact on the environment.

"Cooper Standard is making strides to sharpen our sustainability strategy further, focusing on climate change, the low-carbon economy, and circularity," said Edwards. "After we conduct our updated materiality assessment in 2021, Cooper Standard will refine and enhance our ESG goals to make sure they align with our stakeholder and customer expectations."

To learn more about these goals and other aspects of Cooper Standard's commitment to corporate responsibility, click here to view the full 2020 CRR.

About Cooper Standard
Cooper Standard, headquartered in Northville, Mich., is a leading global supplier of systems and components in diverse transportation and industrial markets. Products include sealing, fuel and brake delivery and fluid transfer systems. Cooper Standard employs approximately 25,000 people globally and operates in 21 countries around the world. For more information, please visit www.cooperstandard.com.

CPS_G

CONTACT:
Cooper Standard
Chris Andrews
(248) 596- 6217
candrews@cooperstandard.com

SOURCE: Cooper-Standard Holdings Inc

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https://www.accesswire.com/648082/Cooper-Standard-Issues-2020-Corporate-Responsibility-Report-Highlighting-Record-Safety-Performance-Customer-Recognition-and-COVID-19-Response

FAQ

What are the main highlights of Cooper Standard's 2020 Corporate Responsibility Report?

The report showcases record safety performance, customer recognition, and COVID-19 responses, alongside long-term ESG goals.

What are Cooper Standard's ESG goals for 2021 and beyond?

Cooper Standard aims to improve workforce diversity, workplace safety, community involvement, and embed sustainability across business practices.

What is the significance of the 2020 Corporate Responsibility Report for Cooper Standard investors?

The report reflects the company's commitment to safety, sustainability, and stakeholder transparency, which can positively impact long-term shareholder value.

How does Cooper Standard plan to enhance its sustainability strategy?

Cooper Standard will refine its ESG goals after conducting a materiality assessment in 2021 to align with stakeholder expectations.

What is the report's focus regarding COVID-19?

The report highlights Cooper Standard's initiatives and accomplishments in response to the COVID-19 pandemic.