Sensata Technologies Publishes Fourth Annual Sustainability Report Highlighting Renewable Energy Sourcing Improvement

Rhea-AI Summary

Sensata Technologies (NYSE: ST) has released its fourth annual 'Powering Possibilities Together' Sustainability Report for 2023. The report highlights substantial achievements in renewable energy sourcing, diversity, and supplier engagement. Total renewable energy consumption nearly doubled compared to 2022, and significant strides were made in female and racial/ethnic diversity representation in managerial roles. Sensata's Conflict Minerals Campaign exceeded its 2026 goal ahead of schedule with a 78% supplier response rate. Prepared in reference to GRI 2021 Standards, SASB framework, and TCFD, the report outlines a new target to reduce Scope 1 and 2 emissions by 45% by 2030 from a 2021 baseline.

Other notable updates include the formation of two new Employee Resource Groups focused on veterans and people with disabilities, increasing the total to nine. Sensata remains committed to sustainability, aligning with its purpose to help customers deliver a cleaner, more efficient, and connected world.

• Total energy consumption from renewable energy sources nearly doubled in 2023, compared to 2022.
• Female representation in manager and above roles expanded globally.
• Racial/ethnic diversity representation increased in the U.S. in manager and above roles.
• Exceeded 2026 goal for Conflict Minerals Campaign as part of supplier engagement for Responsible Sourcing.

SWINDON, United Kingdom--(BUSINESS WIRE)-- Sensata Technologies (NYSE: ST), has published its fourth annual ‘Powering Possibilities Together’ Sustainability Report, sharing performance updates from 2023 in the priority areas of Empowering Our Workforce, Innovating for Sustainability, Protecting Our Environment and Operating Responsibly. The Report also covers progress in the Company’s key material topics of Diversity, Equity and Inclusion; Energy and Emissions; and Responsible Sourcing.

Sensata Technologies’ fourth annual Sustainability Report highlights improvements in renewable energy sourcing, diverse representation and supplier engagement, among others. (Graphic: Business Wire)

“Our sustainability priorities are closely tied to our Purpose to help customers and partners safely deliver a cleaner, more efficient, electrified and connected world,” said Sensata Technologies Interim President & CEO Martha Sullivan. “We recognize the need to accelerate value creation for our shareholders while simultaneously facilitating a more sustainable future. Our commitment to sustainability remains steadfast, and I look forward to working with Team Sensata in achieving our goals.”

The Report was prepared in reference to the Global Reporting Initiative (GRI) 2021 Standards, the Sustainability Accounting Standards Board (SASB) framework and Task Force on Climate-Related Financial Disclosures (TCFD).

Highlights from Sensata’s 2023 Sustainability Report include:

• Surpassed 2023 goal to reduce annual GHG emissions intensity relative to revenue by 5% and set new goal to reduce absolute Scope 1 and 2 market-based emissions 45% by 2030 from a 2021 baseline.
• Approximately 13% of total energy consumption came from renewable sources, almost doubling the renewable energy consumption from 2022.
• Increased female representation globally and racial/ethnic diversity representation in the U.S. in manager and above roles, remaining on track to reach 2026 DEI goals.
• Launched two new Employee Resource Groups (ERGs) focusing on veterans and people with disabilities, expanding total to nine Sensata ERGs.
• Boosted efforts for supplier engagement, resulting in higher response rate of 78% for Conflict Minerals campaign as part of Responsible Sourcing and exceeding the 2026 goal of 75% ahead of schedule.

Read the Report and learn more about how Team Sensata is working for a more sustainable future at www.sensata.com/sustainability.

About Sensata Technologies

Sensata Technologies is a global industrial technology company striving to create a safer, cleaner, more efficient and electrified world. Through its broad portfolio of mission-critical sensors, electrical protection components and sensor-rich solutions, Sensata helps its customers address increasingly complex engineering and operating performance requirements. With more than 19,000 employees and global operations in 15 countries, Sensata serves customers in the automotive, heavy vehicle & off-road, industrial, and aerospace markets. Learn more at www.sensata.com and follow Sensata on LinkedIn, Facebook, X and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240627953510/en/

Media:

Leila Beardsmore

+1 (805) 452-2165

leila.beardsmore@sensata.com

Source: Sensata Technologies

FAQ

What are the highlights from Sensata Technologies' 2023 Sustainability Report?

Sensata Technologies' 2023 Sustainability Report highlights nearly doubling renewable energy consumption, improved diversity in managerial roles, and exceeding the 2026 goal for the Conflict Minerals Campaign with a 78% supplier response rate.

How much did Sensata Technologies increase its renewable energy consumption in 2023?

In 2023, Sensata Technologies nearly doubled its renewable energy consumption compared to 2022, with 13% of total energy consumption coming from renewable sources.

What new goals were set by Sensata Technologies for reducing emissions?

Sensata Technologies set a new goal to reduce absolute Scope 1 and 2 market-based emissions by 45% by 2030 from a 2021 baseline.

How did Sensata Technologies perform in terms of diversity in 2023?

Sensata Technologies increased female representation globally and racial/ethnic diversity in the U.S. in managerial roles, staying on track to meet its 2026 DEI goals.

What progress did Sensata Technologies make in their Conflict Minerals Campaign?

Sensata Technologies achieved a 78% supplier response rate for their Conflict Minerals Campaign, surpassing their 2026 goal of 75% ahead of schedule.

What frameworks did Sensata Technologies use for their 2023 Sustainability Report?

The 2023 Sustainability Report was prepared in reference to the Global Reporting Initiative (GRI) 2021 Standards, the Sustainability Accounting Standards Board (SASB) framework, and the Task Force on Climate-Related Financial Disclosures (TCFD).

What new Employee Resource Groups did Sensata Technologies launch in 2023?

In 2023, Sensata Technologies launched two new Employee Resource Groups (ERGs) focusing on veterans and people with disabilities, bringing the total number of ERGs to nine.