VANCOUVER, BC, June 29,
2023 /PRNewswire/ -- Westport Fuel Systems Inc.
("Westport" or the "Company")
(TSX: WPRT) (NASDAQ: WPRT), a global leader in low-emissions
alternative fuel transportation technologies, announces the release
of its 2022 Environmental, Social and Governance ("ESG")
report (the "2022 ESG Report"). The 2022 ESG Report outlines
the Company's accomplishments within its core ESG-based areas of
focus including:
- carbon footprint,
- operational health and safety,
- diversity, equity and inclusion,
- responsible sourcing,
- human rights, and
- ESG governance.
Since inception Westport has
focused on clean, affordable transportation solutions, and
therefore the Company's goals and strategies are inherently aligned
with today's ESG-related risks and opportunities. To positively
impact its global customers, Westport has strengthened its governance
practices and management processes, advanced stakeholder
engagement, and is working towards strengthening supply chain
resilience and due diligence.
"The release of our 2022 ESG Report is a testament to our
commitment to creating sustainable value for all our stakeholders.
It reflects our deep understanding that success lies not only in
financial gains, but also in fostering environmental stewardship,
promoting social responsibility, and driving strong governance.
While we celebrate our progress, we recognize the work that lies
ahead," said David M. Johnson, chief
executive officer of Westport.
"The challenges we face as a global community demand our
unwavering dedication to continuous improvement. Our 2022 ESG
Report serves as a compass, pointing us towards areas where we can
further enhance our impact and drive positive change. It highlights
the initiatives we are undertaking to address critical issues and
reinforces our commitment to operating ethically, minimizing our
environmental footprint, and empowering communities. Let's build a
brighter, sustainable tomorrow together," added Mr. Johnson.
Highlights of the 2022 ESG Report include:
- reduced 1,498,438 tons of CO2 via our products,
- recycled over 89% of total waste from production sites,
- 55% increase in solar-based energy consumption,
- 32% of our global workforce is female,
- 44% female representation on the Board of Directors,
- 89% of non-employee directors are independent,
- 71% of our 900+ suppliers are local,
- 100% of our suppliers were delivered an ESG survey, and
- initiated Scope 3 emissions calculations.
Westport's sustainability
journey continues through an emphasis on agility, adaptability, and
resilience. With our sustainability-driven business model, strong
governance practices, and a dedicated workforce, we strive to
create long-term value for shareholders while promoting global
decarbonization. In 2023, Westport
is prioritizing energy management initiatives across our
facilities, thereby aiming to reduce carbon footprints.
Following on the successful implementation of photovoltaic
energy at its facility in Poland,
the Company is also planning to increase investments at its Italian
facilities to target 10% of their energy needs from this renewable
source. Additionally, Westport has
conducted decarbonization workshops at its three largest production
sites in early 2023, thereby developing action plans to drive
future reductions in Scope 1 and Scope 2 carbon emissions.
The 2022 ESG Report is available for download at
https://wfsinc.com/company/sustainability/overview and we
welcome your feedback or inquiries to
sustainability@wfsinc.com.
About Westport Fuel Systems
At Westport Fuel Systems, we are driving innovation to power a
cleaner tomorrow. We are a leading supplier of advanced fuel
delivery components and systems for clean, low-carbon fuels such as
natural gas, renewable natural gas, propane, and hydrogen to the
global automotive industry. Our technology delivers the performance
and fuel efficiency required by transportation applications and the
environmental benefits that address climate change and urban air
quality challenges. Headquartered in Vancouver, Canada, with operations in
Europe, Asia, North
America, and South America,
we serve our customers in more than 70 countries with leading
global transportation brands. At Westport Fuel Systems, we think
ahead. For more information, visit www.wfsinc.com.
Media Relations, T: +1 947-339-8097,
E: media@wfsinc.com; Investor
Relations, T: +1 604-718-2046,
E: invest@wfsinc.com
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