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illuminem summarizes for you the essential news of the day. Read the full piece on ESG Today or enjoy below:
🗞️ Driving the news: Mercedes-Benz has updated its sustainability strategy to focus on six key ESG areas: Decarbonisation, Resource Use & Circularity, Employees, Human Rights, Digital Trust, and Traffic Safety
• The strategy was unveiled at its 17th Sustainability Dialogue and aligns with the EU's Corporate Sustainability Reporting Directive (CSRD)
• The company has set specific targets and sustainability metrics to track progress across these areas
🔭 The context: Mercedes-Benz's Ambition 2039 aims for carbon neutrality across the lifecycle of all new passenger cars by 2039, prioritizing vehicle electrification and renewable energy
• The company is also investing €2 billion in employee training by 2030 and adopting a risk-based approach to human rights
• Other initiatives include advancing circular economy principles and supporting Vision Zero to reduce road fatalities
🌍 Why it matters for the planet: By integrating ambitious decarbonization goals and circular economy principles, Mercedes-Benz is addressing critical environmental challenges
• Its alignment with global safety and human rights standards underscores its commitment to societal well-being alongside sustainability
• These actions signal how automakers can influence industry-wide ESG practices
⏭️ What's next: Mercedes-Benz will embed these ESG priorities into its operations, continuously reviewing and reporting progress using key performance indicators
• As the company strengthens its sustainability integration, its success could set benchmarks for the automotive industry
💬 One quote: “We want to make the greatest possible impact with what we do. In our six sustainability focus areas we can make a real difference,” - Renata Jungo Brüngger, Board Member, Mercedes-Benz Group AG
📈 One stat: Mercedes-Benz plans to invest over €2 billion in employee training by 2030 under its Sustainable People Plan
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