Company Reports Results Ahead of its 2030
Goals
SKOKIE,
Ill., June 9, 2022 /PRNewswire/ -- Continuing
its commitment to "Making Tomorrow Better," Tenneco Inc. (NYSE:
TEN) published the company's fourth annual Sustainability Report,
covering operations from January 1 –
December 31, 2021, and highlighting
the company's continued achievements and progress toward long-term
sustainability goals. The report was prepared in accordance with
the Global Reporting Initiative (GRI) Standards and covers metrics
within the Sustainability Accounting Standards Board (SASB) Auto
Parts Industry Standards.
In 2021, Tenneco's Environment, Social and Governance (ESG)
performance highlights include the following:
- Our People: Tenneco maintained an enterprise-wide safety
recordable incident rate well below industry benchmark, reflecting
the company's ongoing focus to keep team members safe every day.
Tenneco also remains steadfast in its prioritization of inclusion
and diversity; the IDEA Board (Inclusion, Diversity, Equity and
Action), launched in 2020, continues to implement the company's
efforts to engrain the values of diversity into the fabric of the
culture. In 2021, 20 percent of U.S. team members were racially
diverse, with 21 percent of positions at the manager-level-or-above
held by women.
- Our Planet: Tenneco is committed to minimizing the
environmental impact of its operations through energy efficiency
and sourcing renewable energy. In 2021, Tenneco reported an 8
percent reduction in energy use and a 10 percent reduction in
Greenhouse gas (GHG) emissions intensity, both compared to a 2019
baseline. It also recycled 78 percent of manufacturing waste
throughout its facilities.
- Our Products: In 2021, 41 percent of revenue came from products
from Tenneco's Clean Air and Powertrain business segments that
directly contribute to fuel efficiency or emissions reduction. The
company also saw an increase in the number of plants certified for
product quality management (IATF 16949) to 99 percent from 97
percent in 2020.
"First and foremost, we are proud of our ability to keep our
team members safe throughout another challenging year. As we
continue to evolve our ESG strategy, we strive to have a more
positive impact on the world in which we live," said Kim Yapchai, senior vice president and chief ESG
officer. "At Tenneco, we take our responsibility to social
initiatives and strengthening our communities very seriously, and
as we work toward our 2030 goals, we are very excited to continue
our progress toward 'Making Tomorrow Better.'"
Looking ahead, Tenneco is focused on driving progress on its ESG
goals through several key global initiatives. We expect to
perform a climate scenario analysis; develop a renewable energy
roadmap for achieving our 2030 carbon reduction goals; engage
suppliers with ESG assessments to confirm alignment with our
supplier code of conduct; and conduct product lifecycle assessments
(LCAs).
To view Tenneco's 2021 Sustainability Report in full, click
here.
About Tenneco
Tenneco is one of the world's leading
designers, manufacturers and marketers of automotive products for
original equipment and aftermarket customers, with full year 2021
revenues of $18 billion and
approximately 71,000 team members working at more than 260 sites
worldwide. Through our four business groups, Motorparts,
Performance Solutions, Clean Air and Powertrain, Tenneco is driving
advancements in global mobility by delivering technology solutions
for diversified global markets, including light vehicle, commercial
truck, off-highway, industrial, motorsport and the aftermarket.
Visit www.tenneco.com to learn more.
Safe Harbor
This release contains forward-looking
statements. These forward-looking statements include, among others,
statements relating to our near and long-term sustainability and
ESG-related practices, initiatives and goals. Forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results to materially differ from those
described in the forward-looking statements, including general
economic, business, social and market conditions, including the
effects of the COVID-19 pandemic; our ability (or inability) to
successfully execute cost reduction, performance improvement and
other plans, including our plans in response to the COVID-19
pandemic and our previously announced accelerated performance
improvement plan ("Accelerate"), and to realize the anticipated
benefits from these plans; disasters, local and global public
health emergencies or other catastrophic events, where we or our
customers do business, and any resultant disruptions; supply chain
disruptions, including constraints on steel and semiconductors and
resulting increases in costs, impacting our company, our customers
or the automotive industry; changes in capital availability or
costs, including increases in our cost of borrowing; our working
capital requirements; our ability to source and procure needed
materials, components and other products, and services in
accordance with customer demand and at competitive prices; changes
in consumer demand for our OE products or aftermarket products,
prices; the continued evolution of the automotive industry towards
car and ride sharing and autonomous vehicles; announced plans, in
an effort to reduce greenhouse gas emissions, of governments and
vehicle manufacturers to limit production of diesel and gasoline
powered vehicles in various national and local jurisdictions; the
ability to retain and hire key personnel and maintain relationships
with customers, suppliers or other business partners; as well as
the risk factors and cautionary statements included in Tenneco's
periodic and current reports (Forms 10-K, 10-Q and 8-K) filed from
time to time with the SEC. Given these risks and uncertainties,
investors should not place undue reliance on forward-looking
statements as a prediction of actual results. Unless otherwise
indicated, the forward-looking statements in this release are made
as of the date of this communication, and, except as required by
law, Tenneco does not undertake any obligation, and disclaims any
obligation, to publicly disclose revisions or updates to any
forward-looking statements. Additional information regarding these
risk factors and uncertainties is detailed from time to time in the
company's SEC filings, including but not limited to its annual
report on Form 10-K for the year ended December 31, 2021 and the quarterly report on
Form 10-Q for the quarter ended March 31,
2022.
Investor inquiries:
Linae Golla
847-482-5162
lgolla@tenneco.com
Rich Kwas
248-849-1340
rich.kwas@tenneco.com
Media contacts:
Bill Dawson
Media Relations – North America
847-482-5807
bdawson@tenneco.com
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SOURCE Tenneco Inc.