BMW Group to publish Integrated Group Report [First premium manufacturer to do so]
BMW Group will, for the first time, combined its Annual Report and its Sustainable Value report for the reporting year 2020 in a single Integrated BMW Group Report.
This is consequent to the Board of Management redefining the companys’ central sustainability goals in 2020; and hence the integrated reporting and integrated management.
From now, the Integrated Report will be published to coincide with the BMW Groups’ Annual Conference outlining the economic performance with its contribution to the environment and society.
Dr. Nicolas Peter, member of the Board of Management of BMW AG responsible for Finance: “The BMW Group Report 2020 shows that our business model and sustainability cannot be separated. We manage the BMW Group according to both financial and non-financial parameters and report these in a transparent manner every year. As a premium manufacturer, we seek to set a good example for the industry and take responsibility. Key sustainable development indicators are given equal weighting in our reporting with financial figures.”
The BMW Group has, on its road to sustainability, already met several key milestones like :
For its European new Vehicles, reduced CO2 emissions by 53% between 1995 to 2020.
Since 2020, all BMW plants worldwide get electricity from renewable sources.
On the gender diversity front, the number of women in BMW Groups’ management stands at 17.8% against its targeted plan of 15-17%.
In July 2020, the Group had set for itself, ambitious new CO2 reduction targets up to 2030 - extending for the first time the supply chain through production to the end of the use phase: the entire lifecycle.
The group aims to significantly reduce CO2 emissions, by at least one-third, per vehicle across the entire range. This would correspond to a reduction of more than 40 million tonnes of CO2, for the entire lifecycle till 2030, for a fleet of more than 2.5 million vehicles produced in 2019.
BMW has lowered CO2 emissions per vehicle produced by more than 78 percent since 2006; and now aims to reduce its emissions (Scope 1 + 2) further, from 2019 levels, by a further 80 percent by 2030. The goal is to reduce CO2 emissions during the vehicle use phase by more than 40 percent per kilometer driven, from 2019 level to 2030. This could be strategically aimed to be achieved by systematic expansion of e-mobility.
The BMW Group is the first automotive manufacturer to have established, for its supply chain, concrete CO2 targets. Carbon Footprint generated by the Suppliers will play a decisive role in determining the process of awarding contracts.
The groups’ CO2 targets have been officially validated by the Science Based Targets Initiative; and will help achieve the goals of the Paris Climate Agreement.
The groups’ long-term aim is to establish a climate-neutral business spanning its entire value chain by 2050. It also intends to use the Integrated BMW Group report, made in accordance with the rules of the International Integrated Reporting Council, to documents its progress transparently, on this issue.
The BMW Group Report 2020 comprises both the Management Report for BMW AG and the BMW Group, as also the on-financial report, as per the requirements of the German CSR Directive Implementation Act (CSR-RUG) for non-financial reporting. The report also documents how the company’s sustainability goal strategies were implemented between 2012 to 2020.
The integrated reporting is built on a solid foundation, with the company having already reported, since 2001, on its measures to reduce environmental impacts.
The Sustainability Report and Annual Report have been published concurrently since the Sustainable Value Report of 2014. The Group has applied the Global Reporting Initiative (GRI) standards for progress since 2005 and chose the highest GRI option (“Comprehensive”) since 2008.