Standard Motor Products, Inc. Once Again Recognized as a Climate Leader

Rhea-AI Summary

Standard Motor Products (NYSE: SMP), a leading automotive parts manufacturer, has earned a spot on USA Today's List of America's Climate Leaders for the second consecutive year. This recognition highlights SMP's efforts in reducing greenhouse gas emissions and lowering its carbon footprint from 2020 to 2022. Out of 2,000 U.S.-based companies, only 450 met the stringent requirements, with SMP being one of ten in the automotive parts sector to make the list. CEO Eric Sills emphasized the company's ongoing commitment to sustainability initiatives as a cornerstone of its long-term goals.

Positive

• SMP recognized as a climate leader by USA Today for the second year in a row.
• Company among 450 U.S.-based firms that significantly reduced greenhouse gas emissions from 2020-2022.
• One of only ten automotive parts manufacturers to achieve this recognition.
• SMP's CEO highlights ongoing commitment to sustainability, underlining the company's long-term goals.

Negative

• No specific financial benefits or revenue impacts from the recognition were mentioned.
• The press release lacks detailed data on overall financial performance or recent revenue figures.

NEW YORK, June 5, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, has been recognized in USA Today's List of America's Climate Leaders for the second year in a row. This list recognizes companies that have reduced greenhouse gas emissions and cut their carbon footprint over the past several years. In order to make the list, companies must have demonstrated significant improvements in reducing their carbon intensity.

The ranking began with a list of 2,000 U.S.-based companies before being narrowed to 450 companies that cut emissions intensity (measured by amount of greenhouse gas the company produced relative to its revenue) and met other stringent requirements over the 2020-2022 period. Of the 450 companies that met the requirements, SMP was one of ten automotive parts manufacturers to be recognized as a leader in this prestigious List.

Eric Sills, Chairman of the Board and Chief Executive Officer of SMP, stated, "Once again, we are honored to be recognized for our efforts to increase our sustainability and reduce our carbon footprint. Operating sustainably is a top focus at SMP, and we remain steadfastly committed to the initiatives we've taken to propel us toward our long-term goals."

To learn more about our sustainability efforts or to view our most recently published 2023 SMP Sustainability Report, please visit our SMP Corporate and Investor Site at SMPCorp.com.

About SMP®

With over 100 years in business, Standard Motor Products, Inc. is a leading independent manufacturer and distributor of premium replacement parts in the automotive aftermarket and a custom-engineered solutions provider to vehicle and equipment manufacturers in diverse non-aftermarket end markets. SMP sells its products primarily to retailers, warehouse distributors, original equipment manufacturers and original equipment service part operations in the United States, Canada, Europe, Asia, Mexico and other Latin America countries. For more information, download the SMP Parts App or visit SMPcorp.com.

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SOURCE Standard Motor Products, Inc.

FAQ

What recognition did SMP receive in June 2024?

SMP was recognized in USA Today's List of America's Climate Leaders for reducing greenhouse gas emissions.

How many companies were initially considered for the USA Today's Climate Leaders list?

A total of 2,000 U.S.-based companies were initially considered for the list.

What criteria were used to narrow down the companies for the Climate Leaders list?

Companies were evaluated based on their reduction in greenhouse gas emissions relative to their revenue from 2020-2022.

How many automotive parts manufacturers made it to the Climate Leaders list?

Ten automotive parts manufacturers, including SMP, were recognized on the list.

What does SMP's CEO say about the company's sustainability efforts?

CEO Eric Sills stated that operating sustainably is a top focus and that SMP is committed to its long-term sustainability goals.

Where can one find more information about SMP's sustainability efforts?

More information can be found on SMP's Corporate and Investor Site at SMPCorp.com.