Cooper Standard Named to the USA TODAY America's Best Climate Leaders 2024 List

Rhea-AI Summary

Cooper Standard (NYSE: CPS) has been named to USA TODAY's America's Best Climate Leaders 2024 list, announced on May 30. This recognition, presented by USA TODAY and Statista Inc., honors companies committed to improving energy efficiency, reducing emissions, and minimizing environmental impact. Chairman and CEO Jeffrey Edwards stated the company's dedication to sustainability and innovation. To qualify, companies must meet criteria including U.S. headquarters, $50 million revenue in 2022, independent emission reporting, and a minimum CDP score of C. Cooper Standard's 2023 Corporate Responsibility Report emphasizes its efforts in reducing environmental impact while promoting business growth.

Positive

• Cooper Standard was named to USA TODAY's America's Best Climate Leaders 2024 list, positively impacting public perception and potential investor interest.
• The recognition highlights the company's commitment to sustainability and innovation in reducing emissions and waste.
• Meeting inclusion criteria like $50 million revenue in 2022 and independent emissions reporting underscores the company's financial stability and transparency.
• The company's proactive approach to managing climate risks and environmental impact aligns with global trends towards sustainability.
• Positive CDP rating (minimum score of C) indicates robust environmental performance and adherence to global standards.

Negative

• The announcement does not include specific data or measurable outcomes from Cooper Standard's sustainability initiatives, making it hard to gauge actual impact.
• Recognition based on existing criteria does not necessarily indicate new improvements or advancements in sustainability efforts.
• The PR lacks detailed financial data or projections on how these sustainability efforts translate into long-term profitability or cost savings.

NORTHVILLE, Mich., June 5, 2024 /PRNewswire/ -- Cooper Standard (NYSE: CPS) has been named to USA TODAY's list of America's Best Climate Leaders 2024. This award is presented by USA TODAY and Statista Inc., the world-leading statistics portal and industry ranking provider. The awards list was announced on May 30 and can be viewed on usatoday.com.

"At Cooper Standard, we actively focus on improving our energy efficiency, reducing emissions and waste generation, and embracing our corporate role as stewards of the environment," said Jeffrey Edwards, chairman and CEO, Cooper Standard. "We are thrilled to be recognized for these efforts and will continue to evolve our sustainability programs and technology innovations to minimize environmental impacts and climate-associated risks."

The America's Climate Leaders of 2024 award is based on a two-step process. First is the application and research phase. Companies could be included on the list by applying online or by having the necessary data publicly available. To be considered for the award, a company must meet the following criteria:

• The company is headquartered in the USA.
• The company had revenue of at least $50 million in 2022.
• Independent emission reporting with data on Scope 1 and Scope 2 for the years 2020 and 2022.
• In case a CDP rating is available, the score had to be at least C.
• Broader environmental record (e.g. no oil exploration, non-GHG pollution, or deforestation).

The second step is the data analysis and scoring phase. For all companies meeting the inclusion criteria, the year-over-year reduction in emissions intensity (compound annual reduction rate) was calculated.

Cooper Standard actively contributes to the global transition to a low carbon economy. Through the evaluation and management of climate-related risks, the Company aims to strategically manage its environmental impact while promoting business innovation and resiliency. Cooper Standard's 2023 Corporate Responsibility Report, titled "Commitment to Excellence," discusses how the global supplier is committed to reducing its impact on the environment and taking action to manage climate risks, while also growing its business profitably.

About Statista 
Statista publishes hundreds of worldwide industry rankings and company listings with high-profile media partners. This research and analysis service is based on the success of statista.com, the leading data and business intelligence portal that provides statistics, relevant business data, and various market and consumer studies and surveys.

About Cooper Standard
Cooper Standard, headquartered in Northville, Mich., with locations in 21 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard's approximately 23,000 employees are at the heart of our success, continuously improving our business and surrounding communities. Learn more at www.cooperstandard.com or follow us on LinkedIn, X, Facebook, Instagram or YouTube.

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

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SOURCE Cooper Standard

FAQ

What recognition did Cooper Standard (CPS) receive in 2024?

Cooper Standard was named to USA TODAY's America's Best Climate Leaders 2024 list.

When was the America's Best Climate Leaders 2024 list announced?

The list was announced on May 30, 2024.

What are the criteria for being named to America's Best Climate Leaders list?

Criteria include U.S. headquarters, $50 million revenue in 2022, independent emission reporting, and a minimum CDP score of C.

What is Cooper Standard's stock symbol?

Cooper Standard's stock symbol is CPS.

What is Cooper Standard's approach to sustainability?

Cooper Standard focuses on improving energy efficiency, reducing emissions, and minimizing environmental impact through innovation and strategic management of climate-related risks.