▪ On track for CO₂-reduction along the entire value chain and focus on long-term decarbonisation targets
▪ CO₂-reduced steel, aluminium and recycled materials drive supply chain decarbonisation
▪ Production makes progress in renewable energies and circularity
▪ Human rights assessment of critical raw materials is moving forward and ahead of schedule
▪ People are at the centre of the just transition with the Sustainable People Plan and respect for human rights
▪ Digital Trust as a key driver of sustainable and competitive digital business
At its third annual ESG Conference, Mercedes-Benz demonstrates commitment to achieving ambitious and measurable goals. Driven by tomorrow and a clear focus on the entire value chain, Mercedes Benz firmly embeds sustainability considerations in the daily business. One aspect is the continued global expansion of the electric passenger car portfolio, targeting an up to 50 percent share of xEVs in the new vehicle fleet in the second half of the decade. And by the end of the decade, the aim is to reduce production CO₂ emissions by 80 percent. Furthermore, the ambition is to run all fully owned Mercedes-Benz production sites worldwide on 100 percent renewable energies by 2039.
By pairing strategic focus with tactical flexibility in this regard, the company remains on course towards a sustainable future on an ecological and economic level. Also, relevant initiatives with respect to social and governance aspects throughout the whole company contribute to a holistic sustainability approach. This includes various measures with which Mercedes-Benz contributes to a “Just Transition”, for example our sustainable people plan and several measures, strengthening human rights in the company and along the value chain. By establishing a coordination role for sustainability in the Board of Management in 2023, Mercedes-Benz has strengthened its governance approach to orchestrate its company-wide sustainability management even more systematically and consistently.
Ola Källenius, Chief Executive Officer of Mercedes-Benz Group AG: “Mercedes-Benz has always been driven by a belief in tomorrow. This pioneering spirit is key so we can play our part in climate protection and to make our business even more sustainable in all respects. We continue to strive for net carbon-neutrality by 2039, and we believe that ESG principles enable long-term value creation.”
Renata Jungo Brüngger, Member of the Board of Management, responsible for Integrity, Governance & Sustainability, Mercedes-Benz Group AG: “Sustainability and ESG are integral to every aspect of our business, especially in times of transformation. The goal of our sustainability coordination at the Board of Management level is to ensure that all sustainability activities are orchestrated even more target-oriented so that we can consistently implement our sustainable business strategy. This also underlines our holistic approach, which covers the entire spectrum of ESG: From decarbonisation to social topics such as human rights and governance aspects, for example the responsible use of future technologies.”
Prof. Dr. Johan Rockström, Director of the Potsdam Institute for Climate Impact Research and Professor in Earth System Science at University of Potsdam: “Science and policy clearly show that those who stay on sustainability tracks will be the winners in the technology, market and profitability competition.”
In 1886 we started a legendary journey with the first ever automobile today we’re on the path to our ambition creating the most desirable cars in a more sustainable way for the tomorrow and show the logo please a more sustainable way what does that even mean guys logo is it still running guys it
Means wait what CO2 reduced Steel ah okay green green what hang on let Me oh W 1.6 million that that’s uh that’s that’s a lot a circular Eon yeah economy isn’t really my thing so oh yeah like bottles like plastic batteries so you recycle batteries okay um oh yeah a circular economy I yeah I get it um is electric portfolio uh can I see it again
Renewable I missed that okay so it’s not just about cars okay keep it up guys so no car okay smart and cut logo Hello everybody and welcome to the 2024 Mercedes-Benz ESG conference it’s now some 5 years ago that we introduced our ambition 2039 which is our ambition to become net carbon neutral by the end of next decade and which is also the uh Foundation that underpins our business strategy and
Today we want to give you an update on what have we achieved so far but more importantly uh what are we doing what are are our plans and what are we implementing in the next years we realize that the world has its challenges in terms of the macro
Environment but we don’t think that is a reason to let up on our efforts to decarbonize and that is what we’re going to go through with you uh this afternoon I want to start with this picture last year Germany reduced its uh CO2 by 10% I think that’s a very encouraging number
It’s the fastest reduction since the 1990s and what I believe that this this number demonstrates is that it can be done so uh if anything statistics like this is an encouragement for us to try to go faster and when talking about going faster I found a picture of this car in
Our archives for those of you who are automobile car you know that this is a research car from the 1970s from Mercedes-Benz it’s called the c111 so what were the engineers up to 45 years ago or 50 years ago when they were working on this project already back
Then they were looking at new and revolutionary Technologies for powertrain but also for um aerodynamics and I think this is the spirit that we have always had in this company to push the technical bound boundaries and see what we can do uh to make the product
Not just safer but also cleaner and more sustainable coming back to the Target ambition 2039 is of course about decarbonization it’s not the only thing that is uh essential to our sustainable business strategy but I think it’s the first topic everybody talks about and the first priority so we want to achieve
A net carbon neutral position by the end of the next decade but in order not to wait for that to happen in 15 16 years we have also set ourselves an interin Target by the end of this decade and Achieve up to 50% of that journey by
2030 and today we’re going to show you numbers how much have we done so far and what are the actions that we’re taking to make sure that this happens on the way to 2039 yes we realize that Mar market conditions customer adoption and different factors buildup of charging infrastructure Etc will influence this
Path and that this is a very very ambitious and fast path but what we’re doing as a company is that we’re putting putting all the building blocks in place to be able to achieve these goals and also the interim goals as we will demonstrate to you
Today last year we we had Dynamic growth of our battery electric vehicles um and in general for our complete Fleet we achieved about a 20% uh share of xvs uh throughout our whole portfolio and yes we have introduced a first generation of attractive battery electric vehicles
That we in the meantime now have rolled out in pretty much every market around the world and we’re going to continue and this year for instance one of our icon Vehicles the electric G is coming to Market many people may think G wagon the ultimate off-roader and going
Electric does that even fit together and I can say resounding yes I had a chance to not only take this car on Extreme off-roading in the mountains in Austria but most recently in my home country in Sweden on frozen lakes to see the driving dynamics of that car and if we
Can do it with the G I think that’s proof that it can be done with any and every vehicle to grow that XV share uh we want to up that to up to 50% in the second half of this decade and of course uh that is strongly linked to our product
Portfolio strategy or technology strategy but all the other enabling factors in and around it to make sure that the customers can make that leap into a battery Electric future we know and understand that there is a big discussion and big debate uh in many markets well how fast is this going
To happen uh what about uh the charging infrastructure it’s going to be available everywhere what about policymaking incentives uh being uh given to customers but also being taken away in some markets creating some uncertainty uh in the eyes of the customer going from the early adopter phase to now the mass adoption of
Electric Mobility there are many questions out there and many of them it’s difficult to get an absolute clear answer of what will happen when but let me make one thing absolutely clear as far as Mercedes-Benz is concerned the destination of this journey is zero emission and that is what ambition 2039
Is all about we want to be one of the companies that drive this this forward of course we are an established manufacturer we have an industrial system already in place for electrified uh high-tech combustion Vehicles ask customers around the world make their choice more and more of them
Moving to Bev but many of them still in that high-tech ice world we have the Tactical flexibility and will be able to well into the 2030s offer the customers choice but this Choice does not change the Strategic Clarity that zero emission is the destination that we’re going to what does that
Mean how can you as a company show a vote of confidence for direction well ultimately it is where do you put your capital and where do you allocate your engineering resources and we are in the next years spending tens of billions of Euros developing new technology new Innovative
Technology both on the powertrain side but also on the digital experience side in several architectures to cater to customer needs in the Mercedes-Benz portfolio from top to bottom on this chart you see an example this is a concept card the concept CLA that we showed at the international auto
Show in Munich last fall you could call it the entry point into the world of Mercedes and it has some spectacular performance targets 750 km range 12 kilowatt hours per 100 kilometer fuel uh energy consumption for those of you who have not made the calculation or switching
Calculation yet and you’re still with a combustion car that’s equivalent to about a one liter car on 100 kilm which is a sensational Sensational efficiency up to 400 km charging in 15 minutes which means that charging comes close to fueling and it’s not something that maybe prevents you from jumping uh from
An ice car today to Bev tomorrow so we are developing technology uh for our second generation product U that makes this Choice even easier we believe in this future and we’re putting our money where our mouth is and this is just the first vehicle that we will launch next
Year in 2025 so it’s close after that a whole family of vehicles 25 26 27 28 will follow uh with this technological underpinnings that we’re are developing right now in today’s param Paradigm and I think we’re talking about the systemic shift here it’s not just that we’re
Switching from one type of product to another type of product it is the whole transportation system that needs a reboot uh and a new buildup whereas we don’t own or build petrol stations today uh we don’t need to all of that exists that infrastructure is available we think that we should as a
Manufacturer send a signal to our uh customers a vote of confidence for our products and tell them we have your back by also investing into charging infrastructure and whether it is as part of a Consortium together with other companies or our own high per performance charging Network that we’re
Building up in relevant markets around the world also here we are investing sizable amounts of money to create this change on the path towards zero emission I could continue talking about the product all day and of course we’re a product company we love technology and we eat sleep and drink carts that’s all
We do every day but let’s not forget that ambition 2039 is a holistic approach to sustainability it’s not just about the obvious thing how do you turn the product itself zero emission it’s about the supply base it’s about your own operations it is about uh the car in
Use how do you put all of those pieces together so that the whole scope of the task uh puts us on a trajectory to net carbon neutrality in production we have made tremendous tremendous progress over the last years but we working with our suppliers we are working with our
Retailers around the world to put together plans how they can follow us on ambition 2039 and decarbonize their business already today 47% of the energy that we are procuring for our own operated Mercedes-Benz car plants come from a renewable source that’s already a sizable number we want to take that
Number Higher by the end of this decade take it to 70% and here again investing and showing that we’re taking this very seriously we are also investing into direct energy sources for our operations and different production sites through wind projects and solar you will hear more about that
Later so investing outside our own industry but creating the enabling factors for decarbonization speaking about Partners whereas having transparency on your supply Chains It’s always been important the uh focus on creating this transparency and understanding where do your raw materials come from not just what you’re buying directly from your
Supply partner on a tier one level but following that chain all the way down to the source uh or the mine uh for raw materials systematically we are going through our supply chains to create that transparency and know what our sourcing looks like like so that we have a clear
Understanding of the fingerprint of every Mercedes that we build and we have also made good progress on this uh over the last 12 months next to CO2 decarbonization maybe the biggest of all of the tasks it’s not the only task uh that we need to pay attention to when we talk about the
Sustainable business strategy and and a sustainable economy the other side of that coin is resource preservation circular economy and looking at every single part that we use when we build our cars where can we use secondary materials that have been uh recycled where do we need new
Materials and also here for the end of the decade we have set ourselves a very ambitious Target to try to reach 40% secondary materials in production of new vehicles what would that mean that would mean that even if we grow grow our business we could gradually kind of
Decouple growth economic growth and the growth of our business from the growth of using primary and newly uh mined materials so another extremely important aspect of our sustainable business strategy but it goes beyond the ecological side of things we live in a digital world everybody has a smartphone and we interact with the
World uh through these digital interfaces and data and the use of data is one of the most important things uh that is changing our lives and if you add artificial intelligence to that it opens a window to a wealth of opportunity this is tremendous for the customers of Mercedes-Benz it’s going to
Make their lives and their drive safer more convenient more interesting but at the same time you also have to think about what are the principles that you use as a company when you work with the customer data how do you act in the interest of the customer how do you make
Sure that the customers can trust that what you are doing is in their best interest how do you deal with privacy we’re one of the companies that have given ourselves some rules uh when we use digital assets or uh use uh new artificial intelligence Technologies to develop our products so we are mindful
About this development which happens uh really at lightning speed these efforts are being more and more recognized by the different institutions that are watching ESG and uh try to as best possible rate the companies on the one hand achievements and efforts but also our intent and where we’re going and as you
Can see from this chart uh the efforts that really started with that first announcement of ambition 2039 those efforts are are beginning to get recognized uh is this a reason to lean back and be complacent not at all not at all if anything it is an encouragement
Uh to actually try to do more uh and go faster I’ve talked a lot about technology I’ve talked about system systemic shifts about infrastructure the enabling factors that we need to put in place to make this happen but none of this happens if we don’t P put the
Transformation of our Workforce and our people at the center of the task we have more than 160,000 colleagues around the world uh that are working with passion for Mercedes-Benz with employee service we ask them we’re in constant dialogue with them not just through the employee survey but it’s an important tool and when
86% of these more than 160,000 people choose to give you a direct feedback you get a very very relevant and clear answer where are you good where are your strengths and where do you need to improve so investing in the human capital is also a a crucial piece of the
Puzzle of this sustainable strategy at the end here coming to where I started yes we’re innovators yes gotli Daimler and Carl Benz were the original inventors of the a mobile and yes we’re now in a transformation where we are Frankly Speaking Reinventing the original invention and that’s the attitude that we
Take here is a picture of another research car I showed you the c111 uh at the beginning of my presentation this car is called the eqx X we have used this car for the last couple of years to break records this is a re recent Drive in the Arabian Desert they drove more
Than 1,000 kmers on one charge and there was more than 300 kilm left in the battery that is phenomenal to make sure that this doesn’t just stay a science project to prove what maybe could be done uh and make it more tangible many of the technologist that are in that uh
Research vehicle you will actually see in serious production already next year with that CLA concept CLA that I showed before that is our ambition use technology use innovation to take the next step into the future and with that I would like to hand over to rata thank you
Ola my name is Renata yungo Brer I’m member of the board of management and responsible for integrity governance and sustainability corporate sustainability has come a long way with increasing regulation on the one hand and C customer and Market expectations on the other hand corporate sustainability has become an important strategic task for
Mercy dispense management as Ola just made very clear sustainability is both a compliance Challenge and a competitive Challenge and its complexity increases every day but we are not complaining at the contrary we see a lot of opportunity in this field for Miss dispense we are prepared for what is
Coming in terms of regulations and we are committed to redefining top end Automotive as a sustainable experience we firmly believe that this is our path to success in the next decade or two mercedesbenz is a trust brand historically for its engineering and safety and nowadays also for ambitious decarbonization along the value chain
Comprehensive human rights due diligence and responsible handling of data our brand is our strongest asset and investment in sustainability is an investment in our brand we approach this strategic task from three three main Dimensions organization processes and systems and corporate culture let me briefly outline these
Dimensions to give you a glimpse of how we manage sustainability at mercedesbenz regarding our organizational setup the supervisory board established a coordinating role for sustainability in the board of management last year and asked me to take on this role as part of my governance function for the group consequently my area was renamed
From integrity and legal to Integrity governance and sustainability in this new role it is my responsibility to coordinate and Thrive the sustainability management of the group in a systematic and consistent manner involving all relevant departments and the decision makers in the company the execution of course remains
With each single board member they and their teams are the experts for what can and must be done in their respective areas for that reason we defined dedicated sustainability tasks for each board area of responsibility as part of our business allocation plan my fellow board members and I will present each Department’s priorities
Going forward in a few minutes within our leadership teams we have also streamlined and refocused our internal sustainability governance to accelerate decision making the times when sustainability management was an added on activity to business management are long gone today it requires state-ofthe-art processes and systems and a systematic integration of sustainability in the
Core business therefore we continuously work work on improving our sustainability management model covering all aspects from strategy development to Performance Management to external reporting let’s dive a little deeper starting with Strat Y in recent months we reviewed our Focus fields of actions to better reflect what matters most for Miss dispence in the
Coming years we read this on the basis of a comprehensive materiality analysis taking into account internal and external views it was a joint effort by our sustainability and corporate strategy colleagues going forward the sustainable business strategy of mercedesbenz will focus on the following main topics decarbonization resource use and
Circularity traffic safety digital trust people and human rights you will hear more on these aspects especially on resource use and circularity as well as digital trust in the course of of today’s agenda second turning to Performance Management we continue to firmly anchor relevant sustainability topics in our core
Processes not only have we integrated the most important sustainability kpis in our mercedesbenz planning process but we have also improved our sustainability Performance Management by defining meaningful steering kpis some of which we have also integrated in our executive remuneration plans third we rely not only on ourselves and our own
Perception we stay in constant exchange with relevant external stakeholders this is a requirement for improving our sustainability management effectively and permanently our main format is the Mercedes-Benz sustainability dialogue which we organized last year in stutgart Beijing delh and tocala this year we look forward to expanding to new locations another important source of
Feedback is our Advisory board for integrity and sustainability in a minute you will hear a statement by Johan rockstrom one of our advisers who will reflect on on upcoming challenges and his outside inw on our efforts to tackle the most relevant sustainability challenges so much for our organizational and process
Developments for this to be successful however we need one thing above all the right people was the right mindset we believe that we can only be successful in the longterm term if we work with integrity and our efforts will only be as good as the ethical Behavior and the
Knowledge of the people who work on them let me illustrate this with four examples how we provide our employees with the necessary Frameworks and tools to shape a more sustainable future first our integrity code it is our basic framework and clearly defines what we mean by Integrity second we offer a wide range
Of online trainings in 2023 we successfully rolled out the new Integrity basic training by more than 123,000 employees third we organize in a weighty formats so that our employees can discuss topics with a focus on Integrity last November we did a global Integrity meetu tour which included 1006
Actions around the world in two weeks four we include our employees in the sustainability discussion also last November for example we invited our employees to join our first employee sustainability dialogue with such measures we want to inter at our employees into the active shaping of the transformation and at the
Same time bolster our corporate culture but that’s not all in 2023 as part of our corporate citizenship program we announced our donation to be visioners the Mercedes-Benz Fellowship the program intends to support thousands of young innovat globally to bring their sustainable project ideas to life the launch of B wizers offers additional opportunities
To inspire our own mercedesbenz employees for corporate citizenship and sustainability our employees can participate in an impact Mentor training which prepares them to apply to be a mentor for B visioners ladies and gentlemen with a few examples I just described how we at mercedesbenz manage and drive forward the sustainable transformation of our
Business through organization processes and corporate culture today’s agenda includes the most important fields of actions where my colleagues and I will provide proof points for what we have already achieved and what we are made aiming to achieve in the future we will kick it off with a short
Impulse statement by our Advisory Board member Johan rockstrom then Marcus jur and France will talk about our progress in decarbonization and sustainable products charging and reproductions and Logistics in the next part Sabine and I will talk about our sustainable people plan plan and respecting human rights along the supply chain and discuss how
That relates to the responsible transition of our business finally haral and I will reflect on how we build trust in the digital sphere and approach sustainable Finance without further Ado let’s start with Johan I am looking forward to hearing his insights Dear AA dear ranata thanks for inviting me to provide an Impulse to this 2024 Mercedes-Benz ESG event scientifically it’s clear we’re deeper into the climate crisis speak and scale are the only things that count today the global carbon budget is down to 275 billion tons of carbon dioxide to have any
Chance of holding the 1.5° C limit of global mean surface temperature rise this translates to Global emission reductions of over 7% per year to cut emissions by half by 2030 and have a net Zer World economy by 2050 despite that we know that tipping points are coming closer 2023 we reached
1.48 of global means surface temperature rise tipping points are in the latest scientific assessment likely to be crossed when we pass 1.5° C and among these include the green and ice sheet the West Antarctic ice sheet holding 10 met sea level rise but also abrupt thawing of permafrost in Siberia loss of
The baron sea ice and loss of all the tropical coral reef systems this is the unacceptable able risks we’re facing if we did not turn around the global Energy System really fast and we have already invoices coming from the earth system the 2023 invoice of climate impacts
Alone is in the order of $300 billion US per year and we know it’s rising overshoot is inevitable during a period of decades in order to even hold the 1.5 line so we are in a position of urgency but we’re also in a position where we
Need to speed up the trans I away from coal oil and gas the challenge is as we know as you know better than anyone that the markets for the EV transition is temporarily shaken by shortsighted policy backtracking mobility in general is part of a massive Global Urban transformation
In such a transformation moving away from one logic powering the global economy to a completely new sustainable zero carbon logic it’s not surprising that there is in such a grand shift also pottles along the way the challenge though as we know when driving along Shaky Ground with bumps on the road is
To keep the eye on the goal on the goal of a transition to a zero carbon future and remember you have policy support here even though we can rightly raise concerns over the slow pace of implementation the Paris agreement the Glasgow agreement the shalm masek agreement and the latest cop 28 in Dubai
All means that all countries in the world have agreed in Legally binding terms to hold 1.5 align it with science transition away from fossil fuels accelerate this critical decade reduce emissions by 45% by 2030 with funding on the table truly addressing both loss and damage adaptation and funding so overall
The world has agreed that we’ve turned a corner so now is the time to acknowledge the fact that that all evidence now suggests both in terms of science but also in terms of policy support that those who are able to stay on sustainability tracks are the winners in the technology market and profitability
Competition that we’re in right now so for Mercedes in this context it is in my view really important to continue holding on to your ambition 2039 and to continue to go Beyond engine CO2 alone the need just as you’re trying to do to take a circular approach it’s not enough
To just phase out internal combustion engine to Electric Mobility like Mercedes-Benz is trying to do to also look at the entire cycle on steel on Plastics on rare earth metals on really taking the step towards a truly sustainable product and proving to the market that sustainable luxury is the pathway to highest quality
This also means that my advice at least is that you should if you can come out more in public to to communicate the proof points how sustainability is speeding up the pathway to Mercedes-Benz success and profitability this is giving or can give confidence to the markets in
The transition so in summary this is no longer a sideshow ESG is the main show it is here we distinguish between winners and losers in the global transition that we’re in right now it is a question of whether you’re succeeding with ESG that determines the final outcome on success on the industry so
The future in my assessment of prinus Ben is determined whether or not the company will succeed in the EV transition this is the root of the challenge this will in the end determine the outcome environment has become the Make It or Break It Factor sustainability determines the future for
The entire car industry so therefore I wish you good luck in this really important ESG Gathering you’re having today thank [Applause] You thank you youan Ro stream CO2 reduction along the value chain and circularity are two key elements we’re working on I’m looking forward to sharing our efforts with you in my presentation my name is Marcus schaer I’m the chief technology officer of Mercedes-Benz at Mercedes-Benz we are committed to
Decarbonization we know that easg principles enable long-term value creation this includes minimizing risk and maximizing opportunities and sustainable business but let me start with the key drivers of change we put a stake in the ground with our ambition 2039 we aim to make our Fleet of new Passenger cars net carbon neutral over
The vehicles’s entire life cycle by 2039 we are pushing hard to go all electric in the future we remain focused on our strategy and stay flexible in our tactics under highly Dynam damic conditions be technology is accelerating that’s for sure nevertheless customers and markets are setting the pace of transformation however infrastructure is
Growing and we expect this to Aid bef ramp up roll out of our high power charging network is one example we have launched beths in every passenger car segment we serve and now we have more than 10 all electric models from delightful entry vehicles to luxury saloons and SUVs Mercedes-Benz Vans
Offers a fully electric model in each segment and sales are ramping up bef Car Sales increased last year by 73% to more than 222,000 units that’s 11% of overall sales 20% including plug-in hybrids our upcoming architectures will help us to accelerate that even further at IAA 2023 we presented the concept CLA class
Based on our Mercedes-Benz modular architecture MMA for short we will launch the first vehicle based on MMA next year following MMA we will launch our new dedicated EV architectures mbea for our core Vehicles AMG EA for high performance vehicles and Van EA for private and Commercial bands these modular systems enable maximum
Efficiency in each model our R&D activities are Central to this our Mercedes-Benz e-compass in the tur will play a key role in shaping the transition the eCampus is our group wide Center of electric Drive expertise we develop our Innovative electric drives here and test them to production maturity in future we will
Cover all aspects of Battery Technology at the compus that includes a small scale production of battery cells our globally experienced teams will research the cell chemistries of the future and Test new battery Generations taking advantage of our Advanced in-house facilities the e-compass is designed and built in line with our ESG principles so
For example around 60% of the r area is equipped with photovoltaic systems we will inaugurate the e-compass this summer I’d like to come back now to our ambition 2039 and our commitment to net carbon neutrality the clear focus is on avoiding carbon emissions along the entire supply chain this includes the
Supply chain production and Logistics well to tank tank to wheel and end of life by the end of this decade we aimed to reduce net carbon emissions per passenger car over the life cycle by up to 50% compared to 2020 levels and we are making good progress in 2020 life
Cycle CO2 emissions per vehicle were 49.7 tons in 2023 this was down to 46.3 tons this will speed up significantly with a launch of our MMA platform it enables us to reduce the carbon footprint of the MMA Fleet by well over 40% along the entire value chain compared with a previous entry
Platform reducing emissions through battery electric vehicles is the major step but it’s also important to decarbonize the supply chain and production so let’s take a closer look at our supply chain big levers here are steel aluminum polymers and Innovative materials I’ll start with a steel where we are already taking advantage of
Opportunities using electric Arc furnaces for processing steel is a great way to reduce carbon in the USA for instance we have further increased the share of CO2 reduced steel processed using electricity from renewable sources more than onethird of the steel used in the body shells of our cars
Produced in the USA is already sourced this way from Big Partners like Big River Steel SDI and new cor our aim by 2030 is to use CO2 reduced steel for more than a third of demands in our European press shops of course we will also continue our efforts to introduce
Almost CO2 free steel we are also making strong progress with aluminum at least a third of the primary aluminum in our upcoming electric model generation will be produced using electricity from renewable sources this is a big step and it can lead to CO2 Savings of around 40 to
50% the first model will enter into serious production already next year we aim to extend this to all primary aluminum resource for our own foundary here in meting in addition we continue to invest in new CO2 reduced Alloys our Target is 90% CO2 reduction compared to the European average for
Selected Parts last year we reached a first Milestone when we brought a special alloy into serious prod ction it comes from our partner hydro and has a minimum of 25% post consumer scrap content its carbon footprint is just 2.8 kg per kilogram of aluminum we are also
Starting to specify the use of renewable electricity as a contract condition for our tier one suppliers among others this applies to aluminum and steel parts and begins with our new architecture by the end of the decade all our work in R&D and procurement considers the circular
Economy from the very start we call this design for circularity the goal is to decouple primary resource consumptions from growth by keeping as many raw materials as possible in the cycle we expect this to reduce our use of primary resources in our vehicle Fleet by 40% by 2030 compared to a conventional
Approach therefore we are working to increase the share of secondary raw materials in our vehicles and further improve process efficiency the aim is for our car Fleet to have a recycled material content of 40% by 2030 our recent advances in recycled polymers fall broadly into three three
Areas the first is a post consumer recyclates or PCR for short for instance in the front and rear bumpers of our first MMA vehicle we use nearly 7 kg of mechanical recyclate which is a share of 35% of the entire bumper construction there will be 25% PCR in
The painted bumper trim this is important because it fulfills our strict quality demands for painted exterior components the second big development is in chemical recycling which we advancing with our partners BSF and Pym crash absorbers in the S-Class and eqe SUV as well as both door handles in the S-Class
And eqe models are made from scrap tires this is done according to the mass balance approach instead of raw fossile resources the resulting product has exactly the same characteristics as virgin plastic produced from crude oil and thirdly we are exploring the further use of innovative ubq material this plastic substitute is made
From household waste that usually ends up in landfill this is already being used for cable ducting in our EQ us and E you can find out more about these developments in our 360 Dee environmental checks verified by independent parties our latest check analysis the inval impact of the new E-class
175 components with a total weight of 99 kg can be manufactured in part from resource conserving materials one example is micro cut a microfiber fabric it contains 45% recycled material and is used for interior cladding our concept CLA class also showcases sustainable materials for instance the floor mats are made from
Bamboo fiber and some of the Interior trim is made from an Innovative paper material with a 50/50 composition of recycled cellulose and hem targeted for serious production the polyester textile upholstry on the floating Center armrest is made from recycled pet we successfully developed our first elastomere components with 15% mechanically recycled content this
Substitutes a large amount of natural rubber we are currently preparing this for high volume series production in the E-Class we are also looking at several other circular Technologies for components such as glass or brake pads biotech materials is another field with an important role to play in the
Future in all of this traceability and transparency are crucial for legal reasons and for our customers this means Mark systems will become very important for the supply chain right now we are looking looking into this for leather and plastic components as I think you can see a lot
Is happening now would like to turn to another part of the value chain tank to wheel Energy Efficiency during the use phase is a key lever as it reduces the carbon footprint caused by driving and also in Ables longer range without increasing battery capacity that’s why we focus on making our vehicles energy
Efficient a great example is our technology program Vision eqx X the most efficient Mercedes we ever built on its third longdistance road trip over 1,000 plus kilometers the vision eqx X just demonstrated that even the Arabian Desert is not an obstacle to Energy Efficiency the pioneering test vehicle delivered electric power consumption of
7.4 kwatt hours per 100 kilm this equates to an equivalent of around 0.9 L per 100 kilm for a petrol fueled vehicle with the MMA platform we will transfer this efficiency into a comfortable serious product it contains technology from our vision eqx X we call the concept CLA class our hypermile for
The electric age its energy consumption while driving is around 12 KW hours per 100 kilm with a remarkable range of more than 750 km in the wltp it’s also very efficient when it comes to charging it only takes 15 minutes for up to 400 km of range with
The MMA we offer a glimpse into the future of EVS as a part of the electricity grid bidirectional charging holds new potential not only for customers but also energy providers as part of the energy transition when connected to an in intelligent DC charging station the car can serve as an energy supplier either
Vehicle to home or vehicle to grid for instance with vehicle to home it can apply the home during a power cut with vehicle to grid on the other hand the car helps smooth out Peaks and valleys in the energy grid for example it can store extra solar energy during the day
Then feed it back into the Grid at night bidirectional charging is one way we plan to fulfill the wish of many of our customers to combine their Mobility with a more sustainable lifestyle we we intend to reduce introduce bidirectional charging with the scope of the MMA platform the use of bidirectional
Charging may be subject to Market specific conditions in respect of legislation and the requirements of energy suppliers the end of our value chain comes at the end of a vehicle’s life our vision is to transform the entire value chain into the most closed loop possible that’s why we develop a recycling
Concept for every new vehicle model this involves analyzing all components and materials to assess their suitability for the different stages of recycling we are increasing the share of recycled materials we use in our new vehicles that means securing access to end of life materials refining post consumer scrap for new vehicles and reintegrating
High quality recycled materials our holistic approach involves strategic Partnerships along the value chain one example is our pled cooperation with TSR and noes for recycled luminum this first of its kind material uses an impressive 86% content of post consumer recycled aluminum and reduces CO2 emissions by 73% so first press test for Prototype
Parts were successful evaluation is ongoing we look forward into putting this into serious production as soon as possible ladies and Gentlemen We have set up wide- ranging activities to reduce carbon along the entire value chain our goals are fixed in our contracts with our partners and
Suppliers by 2030 we aim to have a recycled material content in our vehicles of 40% and we aim to reduce up to 50% of CO2 emissions per passenger car over the life cycle by the end of this decade compared to 2020 levels now I would like
To hand over to my colleague France who will tell you more about our efforts with regards to charging thank You Thank you Marcus very valuable insights into our path to decarbonization and our sustainable products if we want our customers to join us on the road to Electric we need to give them the correlating charging Network and that’s what we are talking about next charging I’m stepan Hoffman and I head up
Investor relations and Treasury and I have a special guest here joining me it’s France Rina uh our chairman of the board of management of Mercedes-Benz Mobility AG one year ago we bundled all of our business link charging activities within a new dedicated unit for setting up our Mercedes charging ecosystem and
This lies within Fran’s area of responsibility F great to have you with us first of all thank you Stefan for having me it’s really exciting to be here today and yes we firmly believe that Electric Mobility is going to support a sustainable and SE emission future great so we’ve just heard from
Marcus how how exciting it is to develop battery electric vehicles how exciting it is to uh continue uh optimizing consumption optimized vehicle technology but uh obviously building an electric vehicle and igniting the desire of our customers might be two different stories so France what’s the opportunities that
MB Mobility can bring on the table Yeah for us it’s definitely clear that we have to put the customer in the center of everything and we need to make sure that they feel comfortable not just with the range of the product also where they
Can charge and what we need to do is we need to understand the target groups it’s the private customer and it’s also the commercial customer that is exactly what we’re tackling at the moment and I’m totally excited about that talking about infrastructure we’re working on full speed to implement a global
Infrastructure where our customers can enjoy charging wherever they go and we’re doing that with three initiatives one we are going to put up our own Mercedes-Benz charging infrastructure two we’re joining with other oems in joint ventures to span the infrastructure around the globe and three we are also putting the nacs port
Into our us Fleet to make sure that our customers can enjoy Also the supercharger Network that will definitely in my opinion contribute to A Accessible charging infrastructure wherever our customers go and it’s a necessary step to make sure that our future is electric but Stefan it’s not just about where our
Customers can charge it’s also about what our customers charge and therefore we’re definitely also promoting the electricity coming from renewable energy it’s crucial because we also have to understand the life cycle of the car and the CO2 emission footprint it’s putting out based on our European mix we
Know that around 50% of the CO2 emission and footprint stems from the charging exercise that’s why we definitely have green charging as a necessary step to CO2 neutral neutrality right France can can you tell our viewers a little bit in more detail about green charging how does it fit into our charging ecosystem
Definitely uh green charging is a key aspect in our Mercedes me charge World which is by the way one of the largest aggregator platforms we have with more than 1.6 million charging points globally and our customers are enjoying that every day and it’s growing also every day with the green charging we are
Definitely also already today uh promising our guaranteeing our customers that they can green charge in Europe in Canada and in the US and if there is no electricity from renewable energy we’re putting up so-called energy attribute certificates and as of 2024 we are ready uh know that our
Energy will come from wind and solar plants and the exciting part is there’s they’re less than six year six years old so if possible and that is also key for us where we buy the certificates and where we redeem them should be also in the markets where our customers charge
Because we want to contribute to an expansion of renewable energy so Stefan you see green charging is in the midst of the mercedesbenz network thanks so much France you you mentioned that uh that you have started the rep ramp up of uh the proprietary charging Hub so how is it going how is
The road map going uh are you happy I’m totally excited uh Stefan and I can tell you that the team is doing a fantastic job in the entire Mercedes-Benz organization we announced in the beginning of 2020 3 that we will go for the mercedesbenz charging Network and in
Q4 we already opened and their live uh charging stations in China in North America and in Europe and by today we’re operating already 23 charging hubs with more than 120 charging points and what is even more exciting the team is really working hard to put 2,000 charging
Points up by the end of this year and our aim is to have 10, thousands by the end of the decade so you see our customers can rely on us that they will have convenience charging points in locations with practical amenities and what is even more exciting we’re
Offering that footprint also to our customers which are driving other brands but you can also be assured that our Mercedes-Benz customers will enjoy special benefits such such as reservation functions so you see we’re supporting electrification wherever we can because we truly believe in that and one thing is also clear we cannot just
Do it by our own we’re partnering up with organizations like for example M8 which is a renowned Organization for renewable energy that we can really give the promise to our customers that they’re charging green so much on uh public charging um can you at a little bit on home charging
What should our viewers as well as our customers know about our approach to home charging yeah we know that our customers definitely when they’re traveling rely on public charging but to be honest with you they also love home charging that’s why we’re putting up an integrated uh service package to our customers which
Is based on the network Mercedes-Benz wallbox which can go up to 22 kilowatt and we already have it in 30 markets and Stefan by the way I’m one of the users and I can tell you it’s working it’s convenient and it’s easy to use plus as Marcus already mentioned we’re already
Working also on the future in terms of smart by directional charging solution so something which I’m also really excited about so public charging home charging there might be a missing piece for for a certain part of our customers which is kind of uh the commercial fleets commercial Fleet owners um how do
We tackle them and what can they expect from us well first of all we’re promoting that also in a very uh um targeted manner because we know that fleets are definitely also leaving a huge uh carbon emission and that’s why we need to make sure that we also support our customers in transforming
How do we do that we have a 360 approach where we partner up with uh organizations around the globe and we already can offer today in selected markets uh for our commercial customer Solutions the way we do it I would say is quite simple first we consult with
Our customers to understand what kind of needs they have with their fleets that they can also go full electric then we offer a wide range of products and services such as Hardware installation and software and as mentioned already Mercedes me charge is already well known in the private sector and we’re
Expanding that now to our business partners because we want to make charging as easy as it is on our private side so we’re ready to put the mobility the Electric Mobility up in a sustainable and 02 emission neutral way we’re ready for that and the team is
Eager to get it done thanks a lot France for that comforting message so thanks a lot for giving us a better understanding of our charging ecosystem and our most recent progress and activities and with that please uh let me hand over to yor bza who will provide us with some
Insights into how Mercedes-Benz is making its production operations and Logistics increasingly more Sustainable Thank you stepen and hello everybody my name is y burer and I’m responsible for production quality and Supply Chain management and after hearing from Marcus about decarbonization and from France about our plan to offer the best charging experience in the industry for our customers let’s take a closer look
At our progress in production and Logistics of Mercedes-Benz in 2023 we focused on cutting CO2 emissions through increased Energy Efficiency producing more renewable energy at our own locations and increasing our ability to store volatile renewable energy this comes in addition to reducing the use of water and waste
And in addition to taking further steps on our way to sustainable Logistics in short we are in ex execution mode so how did we achieve this let me give you within the next minutes some more details regarding the mentioned topics once again we are in execution mode we
Deliver what we announced in the last years first topic all our own Mercedes plants worldwide have been producing net carbon neutrally already since 2022 this is in large part because all our own plants obtain one 100% green electricity so the transformation toward a CO2 free energy Supply is well underway since
2018 we cut our CO2 emissions by 72% for scope 1 and two we have already reached our 2030 commitment to the science-based Target initiative and we are sticking to our goal 80% CO2 reduction by 2030 and 100% reduction by 2039 the next main level for further reductions decarbonization of our heat
Supply this is much more challenging more complex and requires High Investments for example we have decided to go for CO2 free heat Supply in kesk at Hungary with power to heat and geothermal energy and our next Generation paint shops will make mainly run on green electricity instead of
Natural gas the preparations for the conversion of the pain shop at the Syle fing imp plant have already started second topic our current status regarding renewable energy at mercedesbenz cars our road to 100% 47% of our total energy came from renewable sources in 2023 and we want to expand our green
Energy portfolio to achieve 70% in 2030 and 100% by 2039 so what’s about our Energy Efficiency we decrease the consumption of our own Mercedes-Benz plants by approximately 10% per vehicle last year in other words we saved 290 gaw hours in total in 2023 we achieved this with a M360 energy
Management system for efficient Improvement in equipment and predictive maintenance and with the use of AI to optimize Air Supply in paint shops in Rashad we achieved 20% Energy savings compared to classical control units so let’s take a deeper look into solar and wind where do we stand and what are our
Next steps regarding photovoltaic systems in our production plant we have already installed approximately 35 megawatt peak in total by 2025 the photovoltaic capacity at the production and other sites worldwide is to be expanded by up to 140 megawatt Peak which corresponds to more than 1 million square met of solar
Modules we are actively promoting the application of green manufacturing Concepts in our Chinese joint venture bbac as well the photovoltaic system at the Beijing plant is one of the largest ones within the global Mercedes-Benz production network with approximately 90 megawatt Peak it is currently the biggest solar plant in Beijing covering
Up to 20% of the local electricity Demand by 2025 and this is in addition to the 140 megawatt Peak plan in our own plans regarding wind the approvals by the authorities for the wind park at our test track in penber is well underway and operations are planned to start already in
2026 20 wind turbines with a capacity of around 120 megawatt are planned on our test track with one of the leading German energy Park developers Uka this is one of of the largest onshore wind farms that is currently being developed in Germany up to 20% of Mercedes-Benz AG’s annual electricity demand in Germany
Could be met in this way in addition the expansion of PV systems in penberg is also planned in the offshore sector we signed in 2023 a power purchase agreement with the energy supplier Iola for for the supply of electricity from the wind anger wind farm in the Baltic Sea as a
Result we could secure 140 megawatt of renewable electricity from 2027 onwards covering around 30% of our electricity needs in Germany with all that Mercedes-Benz group intends to cover more than 50% of its total electricity demand in Germany from new solar and wind power plants and a nutshell regarding renewable energy we
Are doing our part and we want to play an active role in shaping the energy transition that’s why we are taking energy storage to the next level why to get the best balance between volatile renewable energy generation and electricity consumption here we have two different approaches one approach is to give our
Automotiv lithium iron batteries a second life and use them in stationary battery storage as for example in our Factory 56 in Syle fing this storage has a capacity of 1.4 Mega hours and there is more to come for example in Tuscaloosa another is a new partnership with the German clean tech startup CM
Blue which developed a unique redox flow battery storage system system the advantage of CM bl’s socalled solid flow Battery Technology is the organic electrolytes these batteries are recyclable with long service life no critical raw materials and Ultra scalable up to a gwatt hour range just last week we signed a contract with s
Blue for a pilot storage and the ink hasn’t completely dried yet the pilot will be implemented at our rushar plan by 2025 with a capacity of around 11 megawatt hours it will be the first storage of this kind ever at our plans in the next step we plan to
Realize more battery storage systems at our locations Mercedes-Benz is taking a holistic approach to the circular economy of Battery Systems looking at Three core topics circular design value retention and closing the loop because we have a clear goal to Resource conservation maximizing circular economy for all raw materials and sustainable battery
Recycling is a key factor we are closing the loop with our battery recycling Factory in kinheim where we held a groundbreaking ceremony last year for the first phase the so-called front end is being remed up the second phase the hydrome metalogical process we plan to start in the second
Half of this year subject to the outcome of the promising discussions with the public sector the plant itself in kinheim will operate net carbon neutrally thanks to a new process we aim for a recovery rate of more than 96% the recovered materials will be fed back into the battery Loop let me give
You some further insights into our circularity of approach regarding recycling material from production we already have a recovery rate of approximately 99% this means approximately 87% of our waste will be green recycled further 8% will be down cycled and less than 5% will be thermal recovered so what do we mean by Green
Recycling for example steel to just follow up what Marcos said before thanks to scrap separation we ensure that high quality steel scrap is recycled to become new steel approximately 35,000 tons in the last 2 years in CLE finging another example aluminum in copenh we are sorting in recycle 100
Tons per week of aluminum 5,000 and 6,000 series Alloys thanks to this CO2 savings from recycled aluminum are approximately 9 95% compared to a classic aluminum based process to make production more sustainable we try to reduce and to cut water usage wherever it’s possible our Target is to save up to 35%
Of Water by 2030 compared to 2018 levels let me give you several examples in Syle fing we are now saving up to 3 50,000 cubic meters per year last year we started a pilot project with the cities of syfing and bingan which we have now adapted for mainstream use in
January and we see further potential in other plants for example in tuscala stutgart and Breman to save potentially more than 750,000 cubic met of water per year with multi- reuse technology optimizing cooling tow in Tuscaloosa bring Savings of approximately 100,000 cubic m per year now coming to Logistics our sustainability strategy
Focuses on co2 avoidance and on the reduction of emissions for all modes of Transport in inbound and outbound but to be honest Logistics and supply chain is challenging in regard of sustainability so every action counts so what does it mean as part of our ambition 2039 for
Mercedes-Benz car we aim to reduce CO2 emissions by 60% and to avoid fossil fuels in inbound and outbound Logistics wherever operations are managed by Mercedes-Benz we do this in close cooperation with our partners and also here we are in ex execution mode let me give you some examples regarding the
Different ways of transportation and current projects rail rail offers CO2 neutral transport with green electricity we are already using this to transport Battery Systems from stutgart to Breman and we are extending this to our rail transport from our plan in sebes Romania to bran Road Electric trucks will start
Right now to transport from stutgart to Syle fing in the US and Europe we plan to use e trucks for short and longdistance Logistics so stay tuned C we expand biof fuels in inbound and outbound currently we save approximately 177,000 tons CO2 per year using biofuel on several routes with several Partners
Further projects are planned in 2027 we plan to start the next level of overseas transport with a futuristic looking sailboard with valus willamson so regarding carbon reduction and renewable energy we are on the road to zero and on the road to 100% with our photovoltaic and wind projects regarding
Energy storage we are harnessing the potential of renewable by massively investing in storage starting with a pilot in Rashia together with our partner CM Blue regarding Water Management we enable Savings of up to 35% by 2030 compared to 2018 through multi- reuse projects Innovation and promising Pilots regarding circularity we are
Closing the loop with our battery recycling Factory in Kim for the first phase the so SOC called front endend rim up is underway we are reducing waste and increasing recycling rates successfully across several key areas regarding Green Logistics we have an ambition 2039 Target of minus 60 CO2 emission
Reduction through many fold actions V rail with e trucks and VC for in and outbound directly managed transport I hope I could give you a good overview about all the many steps we are taking to improve our sustainability in production and to underscore that we REM remain in execution mode on this
Exciting journey to continuously reduce CO2 emissions at Mercedes-Benz Operations Hello ladies and gentlemen my name is Sabina kisen I’m board member at Mercedes-Benz responsible for human relations and labor director my colleagues explained how we want to achieve our goals of a net carbon neutral mobility and production let’s consider this the E of ESG but it’s not just our product and
Operations that are in transformation it’s also our people that’s why we at Mercedes-Benz not only focus on the E part of ESG but also on the S with our HR strategy our sustainable people plan we are shaping this transformation in a future oriented socially acceptable and responsible manner the current transformation is
Characterized by three Central challenges for our whole industry and in human relations the 3DS decarbonization demographic change digitalization decarbonization we all know by now the transition from combustion engines to Electric drives has a significant impact on jobs and job profiles that applies in particular to our power Trin plans as there are fewer
Production steps in the value chain for battery electric vehicles than for combustion and always depending on the level of vertical integration of course demographic change the so-called baby boomers are reaching retirement age in this period at Mercedes-Benz 20% of our employees will leave us due to age in the next 10
Years while this is certainly an important lever for slimming down our Workforce it is also a challenge when it becomes to skill management and knowledge transfer digitalization it’s no secret data and new AI applications such as gen AI are changing businesses tremendously and at incredible speed and they are also
Changing the way of working while some job profiles are disappearing completely new jobs emerge and existing job profiles are changing at the same time thus investment in new digital skills is crucial let’s sum it up these 3DS are fundamentally changing the world of the work the world of work
In our industry over the coming years at mercedesbenz our answer is our sustainable people plan at the core of our HR strategy are our so-called three Rs reshape resk skill and recharge with them we are sh shaping our HR work and the transformation in a responsible socially acceptable and
Future oriented manner to drive a just transition as an integral part of our sustainable business strategy furthermore we Empower our team for a digital and electric future while ensuring the competitiveness of our company and the necessary skilled Workforce let’s start with reshape with reshape we shape the entire company according to new requirements
Lean resilient agile and in inative that results in constant reorganization of our company however there is no one size fits all solution that is why we are organizing our plans legal entities and functions through individual Target plans for example as I mentioned earlier there are fewer production steps in the value
Chain for battery electric powertrain than for combustion engines consequently there will the fewer people as well another example in this regard is our recent strategic decision to sell the own retail organization in Germany however when it comes to reshape the premise is always a just transition for our
Teams we will elaborate on that later in our talk on just transition simultaneously we need more experts in some areas and we are hiring for our future one example is our own Mercedes-Benz operating system mbos or our R&D Hub in China another example is our vocational training and dual study program we train
Our own Talent with a focus on future oriented job profiles and skills in doing so we are constantly challenging and revising our portfolio for vocational training and for the Cooperative State University in Germany start starting this October we will offer a dual study program on sustainable Management in business the
Study program teaches our youngest talents knowledge and methods to manage economic ecological and social values of our sustainable strategy this leads me to another important aspect for our future success res skill with res skill we drive Innovation and continue to build our position of strength by equipping our team members
With the necessary skills and mindsets we identify the skills and abilities that will be needed in the future and develop our teams in these profiles furthermore we establish a culture of lifelong learning and support our team members to continuously grow personally and professionally our current numbers show
That we are well on our way to becoming a learning organization within this decade we plan to invest more than €2 billion EUR in our turn to learn qualification initiative to make learning a self-determined independent and simple as possible the number of Total Learning hours shows how highly motivated and committed our team
Is in 2023 alone they invested more than 2.3 million hours in learning that is an increase of 19% compared to 2020 22 let’s look at two especially important future topics Electric Mobility and digitalization in 2023 27,000 qualifications in Germany in topics related to Electric Mobility were completed that’s an increase of 36%
Compared to 2022 earlier I mentioned digitalization and its effect on the way we work data and new AI applications such as gen AI are changing all job profiles at Mercedes-Benz we are on our way to Turning those challenges into opportunities worldwide our employees took part in around 142,000 training
Courses on artificial intelligence and it topics such as software coding and cyber security furthermore more than 600 employees underwent Target training to become data and AI specialists in 2023 to enable the use of generative AI we introduced our own internal gen AI application at the end of 2023 Mercedes ben direct chat around
150,000 employees worldwide can use the tool today at the same time we leverage gen AI tools and use cases supported by AI across all departments for example we’re testing jet GPT in our cars in production and in procurement to optimize data analysis and assess documents and information even
Faster with our third hour recharge we focus on driving the best people experience we are dedicated to be the employer of choice for our team members and future talents we want to continue improve our leadership and corporate culture and further develop it in the transformation process to measure our progress we
Conduct a comprehensive group-wide employee survey every two years followed by a thorough analyes of the results and follow-up measures the last survey was done in 2023 and is an important indicator of where our company stands on various topics from the Viewpoint of our employees and where there is potential for
Improvement last year 86% of all employees took part in the group wide employee survey this marks the highest ever level of participation we have achieved in a group-wide employee survey at mercedesbenz and it shows our team’s willingness to play an active role in shaping our corporate
Culture compared to 202 21 this is an increase of 8% driven mainly by a significantly higher participation in production and production related areas the survey revealed that 77% of the employees surveyed are satisfied or very satisfied with the Mercedes-Benz group as an employer additionally there is Meaningful Improvement when it comes to
Engagement compared to the 2021 survey we can observe an increase of six percentage points that is especially important when it comes to our transformation as engaged people are the true drivers of it however despite progress there is still need for Action to support our managers we have provided them with a toolbox of
Information and work material as well as training courses one important factor that plays into satisfaction and engagement are a safe and healthy working environment as well as good working conditions the health and safety of our employees is a top priority our corporate Healthcare Management offers regular health checks
Social counseling and training in terms of sports mindfulness and a healthy nutrition on paper that’s an investment of around € 6.2 million EUR in the past year in Germany alone at mercedesbenz we offer an attractive package for our people there are three things I would like to highlight firstly Mercedes-Benz offers a
Variety of worktime options to Foster full flexibility wherever possible secondly we offer different local benefits to Foster sustainable transportation in Germany for example we subsidize the so-called deutchland ticket and offer special conditions for bike Leasing and last but not least we offer an attractive remuneration and benefit
Package this year for the first time ESG targets will be anchored in all our bonuses in Germany from tariff scale employees to the board of management the calculation logic used for tariff scale employees is now in line with the existing system for managers this means the amount of profit
Sharing bonus is now more closely aligned to the achievement of the company’s Financial targets and systematic implementation of the sustainable business strategy with this step we’ve highlight our comprehensive commitment to ESG oriented governance change and transformation require different perspectives and creative ideas but how do we create an environment in which the appropriate
Mentality and creativity is encouraged besides a modern and flexible working environment this is exactly what diversity is needed for we are doing a lot to promote this for example we have set ourselves the goal of filling 30% of senior management positions worldwide with women by 20130 we are well on our way to
Achieving this goal currently around 26% of our Senior Management is female up from around 21% 3 years ago for our industry that is a very good share how do we Foster that besides special training or mentoring programs I would like to highlight our female career Lounge it is
One proven concept to get women interested in stem professions and for our company the female carrier Lounge is a virtual event for female engineers in production areas that we conducted for the second time in 2023 with success in 2023 alone we hired almost 80 top female Engineers with professional
Experience to sum up to remain successful as a company the people who shape the transformation are at are at least as important as the right business model products and operational processes with our sustainable people plan we as Mercedes-Benz are shaping this transformation in a future oriented socially acceptable and responsible
Manner and we as HR Empower our employees in becoming the best version of themselves to be successful in the digital and electric future now and in the future another focus of the just transition adist St dispense is the strengthening of human rights in the company and along the value
Chain therefore I’m happy to hand over the words to my colleague rata who will give us a deep dive into this Topic thank you Sabine I’d like to provide you with an update on a topic that is not only very important to me personally but also to us as a company the respect for human rights along our supply chain last year I outlined our efforts in this important area and our ambition
Continues we want to provide the best products to our customers while actively tackling human rights risks we strive to leave up to the expectations placed upon us not only from Capital markets and our investors but also from our customers employees and other stakeholders we do this not only because
We have to but above all because we want to at last year’s conference I already met mentioned that we as a automobile company need to respond to increasing regulatory requirements at both the national and the international level as you can see many different laws came into force in the last
Years these are Dynamic times where we are always challenged to stay on our toes only last Friday the EU Council announced that a qualified minority has been achieved for the corporate sustainability due diligence directive and there are more challenging regulations to come within and Beyond the
EU but we are confident that the right internal processes as well as collaboration with different stakeholders will help us navigate this Winding Road safe and zoned and we don’t just want to meet legal standards and proceed according to the check the box principle we also really want to change
Things for the better we strive to respect the human rights of affected people in our supply chains and make an impact on the ground let’s dive a little bit deeper to learn about current projects and achievements long before facing the current legal requirements Mercedes-Benz developed its human rights respect
System and became became a Pioneer in the industry yet we are constantly challenging ourselves to get better for example by evaluating and further developing our processes by sharpening responsibilities and by implementing processes and measures to educate and raise awareness inside and outside the organization at the end of last year we
Rolled out a training on human rights compliance that is obligatory for the management level group-wide in addition we further improved our supply chain to diligence by using digital tools this helps us to obtain information on possible risks in our supply chain and Tackle them accordingly yet the development of
Internal processes and measures is just a puzzle piece among many we are well aware that negative human rights impacts in our supply chain are often structural in nature which a single company cannot win the F alone less bureaucracy and more impact are really key in order to develop Solutions we need industrywide action
Standardization and the inclusion of affected people that’s why we strongly welcome cross- sectoral collaboration and that’s why we closely work in and with various initiatives networks or Civil Society organization one important multi-stakeholder initiative where we are actively engaged is the sector dialogue of the German automotive industry one of our goals together with
Other oems suppliers associations and Civil Society organizations is to discuss and develop concrete projects that do make a difference let me give you one example last year I announced a pilot project to establish a cross compan grievance mechanism in Mexico a lot of work has been done since
Then together with other companies but also in close collaboration with civil society organizations we are confident that the project we will offer officially start in the coming months the project complements our own whistleblower system coordination units will be set up in Mexico and Germany and experts will be involved to deal with incoming
Complaints this project will be a groundbreaking institution especially for people in our deeper supply chain in this regard it makes perfect sense to work together with other companies at the endend of the day for the people who are affected it doesn’t matter whether day of work ends up in a
Mercedes or another car brand they want their rights to be respected and have access to remedies if something goes wrong in addition to collaborating with others it is also indispensable to further increase transparency in our own supply chain this is an ongoing challenge what we do make progress and
Of course the more we know the better we can initiate changes our raw material assessments are at the core of our due diligence efforts in the deeper supply chain in a robust process aligned with the UN guiding principles for business and human rights our procurement division identifies the
Human rights and environmental risks as associated with a focused scope of 24 raw materials this is a lot of work but we are on track in fact we are moving more quickly than anticipated at the end of 2023 we achieved 57% of the overall assessment process across all 24
Materials it is important to note that a completed raw material assessment does not Mark The End but the beginning of a continuous due diligence process our new raw material report which was published in November last year is another significant step forward of course the scope is now bigger we
Report our progress on 15 raw materials in addition we took steps towards becoming more measurable this includes a detailed explanation of our methodology more insights in how we rate and rank our Salient risk areas and steps to quantify to Performance our suppliers as we go through the raw material assessments we build our
Expertise and identify correlations synergies and issues that present a similar challenge across materials one of these is the importance of community and indigenous people rights which we have identified as potential high risk in most of our assessments so far this naturally catches our attention
We make it our focus and act on it in three ways on the level of Standards by taking on responsibility together and through direct engagement with affected communities first standards are one of the most important instruments to bridge the gap between affected communities and us as
Oems to be able to do that audits needs to be inclusive and transparent we therefore provided support to the initiatives for responsible mining Assurance to finance additional community outreach around Audits and recap Lessons Learned From the process second protecting human rights in complex Supply change is not only possible when we share the
Responsibilities together with our partner North Kyro we will push measurable social progress in an area tied to North cyro’s aluminium value chain in Brazil we are excited to announce this new project today adding a human rights biodiversity and reforestation component to a partnership that is also essential
To achieving our CO2 targets and third we make efforts to be in touch with affected right holders directly after three years of engaging with bit mining in Guinea from afar a Mercedes-Benz team went to the mining region of poke in an embedded Mission with two International NGS under guidance and with support of
Local Civil Society the team was able to meet with six mining communities their input has helped us to directly engage with mining operators in Guinea especially on issues of water and land that were identified by mining communities now that we have taken a joint look at our efforts and progress
To protect human rights along our supply chains I’d like to hand it back to Stefan thank you Thank you rinata for these insights and for outlining our achievements in and Ambitions for such an important subject I would now like to welcome rat and for a talk on another key social topic the just transition which according to the organization for economic cooperation development oecd recognizes that social
And environmental issues are obviously interl and that these issues further broaden the debate around moving to a low carbon economy sa rata um pleasure to have you here so rata what are the priorities for Mercedes-Benz in shaping the transformation in a uh responsible Manner and I think if you heard to our
Presentation so far we are doing that on a lot of level let me turn in this words um the transition to a lowc carbon economy naturally includes a lot of challenges in particular tackle climate change we have heard about that today is a complex talk um task and uh we can do
That only if we collaborating with others and Mercedes is part of that and we have different levels um if you look at the transition as such then I think we must also think that it makes people probably feel uncomfortable from time to time because they’re thinking about you
Know what does this mean for me personal professionally or directly what that signifies for my job and that’s I think the people plan which um Sabina just presented is really a key strategy issue for our company but there are other levels that just presented um respecting
Human rights in supply chain and I think we need to focus in that regard on workers in the job supply chain and particular naturally with the transition to electromobility it’s about the right of workers in battery supply chain for example or in general in critical raw
Materials as a such and then what I’ve said at the beginning um we are not speaking about the transition of one single company we’re speaking about the transformation of a complex industrial system and there we need a close collaboration between politics legislators civil society and our business and probably a last Point um
It’s not only own operations we have also to think outside of our Factory Gates um I think about the communities surrounded by the extractions of raw materials in particular with batteries with um lithium with Cobalt that’s all we know that and we need to take care
And to look also of their rights in order to have a responsible and just transition in all the areas Thanks rata for opening up the umbrella of the pieces of the just transition so Sabina rata has talked about the importance of the people plan you have laid out in
Your introductory statement uh the three Rs and kind of the sustainable people plan can you elaborate a little bit about uh on on one of the focus areas obviously of the transformation which is for sure the power train so H how are we going on here what does it mean for the
People thanks Stefan for the question I think uh powert train plans are most assoc associated with the transformation even though we have also other fields but let’s um dig a little bit deeper into the plan for the powertrain plans I think first of all what we do is we have
Um Target plans Target pictures for all our P powertrain plans and in those Target pictures we sketch a picture of the future so future electric components are allocated to this powert train plants and we have heard about the eCampus in unim but also in unim in sebes and in Beijing we will have
Electric drive units being assembled and being produced in Berlin we will have the high performance electric engine for the AMG platform and um in Hamburg and in urheim there will be axles on the electric basis and electric components so those are future components but be very fair we will need
Less people for those electric components and that is then our job to manage the transition from today to tomorrow very responsible with the instruments of HR what are these instruments first of all we use demographic um issues like fluctuation like uh retirement because as we have
Seen we lose 10% of our Workforce over the next 10 years that gives us a little bit of time secondly what we do is we really put a focus on the reskilling initiatives and you might remember the digital Pioneers that we had in Berlin where we qualified people people blue
Colors into software engineers and we had a first cohort in Berlin a second cohort inim and now we are working in the third cohort we are also offering other job possibilities in the location therefore we have flexible assignments in the in the respective plans to show where there are other places and last
But not least we also offer a mutual agreements to leave the company with Severance packages and we are currently doing that in Berlin and inim it’s a mutual Severance agreement which is on a voluntarily basis because on the other hand we still offer a job security until 2029 to provide a
Framework in which people can move the fourth component is we also offer other jobs at other locations in other assembly plans or from instance um shifts from un tkim to SLE thing in in our assembly planand by also incentivizing those moves and the last but not least we
Offer that you can leave the company and have a safe get back Clause between one or two years to orientate yourself in other jobs and then find a new a new future all those instruments are very good but we have to work also on the mindset on the mindset of embracing the
Change and embracing this transformation this is why we started transformation on last year what is transformation on it’s an initiative targeted at employees but also at Executives to engage dialogue to communicate about the transformation to provide adequate information on all issues involved so we rolled out an app
We have um Market stalls workshops uh we selected transformation ambassadors to really spread the new news of what the possibilities are and we will open also physical opportunities called stations where people can meet and discuss all these challenges around transformation because we have to really be very honest we will get Slimmer over
Time and we will do everything to do that in a very uh socially acceptable Manner and provide opportunities to people who might be leaving us thanks Sabina for sharing on the people side of our just transition so rata you said besides the people part which is a very important one there’s
Important stakeholders on the supply chain uh there’s the so-called right holders uh and the communities can you share a bit uh with the audience uh how how we are interacting and engaging with those types of stakeholders yeah your fact um with the transition to electromobility we have a lot of complex
Supply change which we have to um to manage and I think the presentations has shown um managing these complex Supply chains are really a big task and uh the uh Supply chains concerning the raw materials in connection with the electromobility are certainly one of the most complex now we are assessing these
Supply chain um we have these 24 raw material which we classified as risk um materials and we are working on that and we are quite successful on that and we will hope in 2028 we will have 100 100% of this supply chain transparent but that’s not all what we
Are doing we are engaging in in several initiatives and and one example is for example um the um responsible lithium partnership um which was uh founded in 2021 by different companies by BSF um fairphone um tamla trucks um Volkswagen BMW and also mercedesbenz and um what is this part
Partnership doing we want really create and establish a common and that’s important must be a common vision of the future of the salardi atakama bin in Chile um where we want to improve the uh management of Natural Resources in particular in conern uh the Water Resources we want to reduce with that
Partnership conflict with which are related to water consumption and that’s a huge um um issue there and I think with the partnership where everybody can get into contact that’s important because this partnership consist of 22 representatives of local indigenous communities of um local Civil Society of local private sector and governance and
Also very important of local mining companies with that these um multiplatform um also provides accessible and um understanding able information and it also gives the possibility that the organizations and the companies are exchanging information on eye level and that’s very important we got a very good feedback from the
Local communities because and that allows them really to get the necessary information and that’s why also in this January it was decided to extend this partnership until 2025 in order to really create a uh sustainable long-term impact and that’s only one in initiative we are engaging
In and with that we hope that we can manage the social and environmental impact of uh these complex Supply chains thanks rata Sabina from the supply side once again back into into the company towards the people side um you mentioned your presentation that obviously AI digitization can change companies and
Can change the way we work and interact in a company Under The Heading of just transition what to bear in mind where to pay attention how do you look at it well that’s a complex topic AI because um the promises with AI is that you have more time for transformational tasks and that
You can eliminate the transaction task that you gain more efficiency that burdened admir uh Administration processes can be streamlined and that overall the the work is going to be more more effective so what what did we do or what do we do to really um to take from our people
From today into tomorrow first of all we use artificial intelligence in a lot of issues all over the company from the mbx in our car to production to R&D to digital Quin Twins or in procurement with jet GPT or the large language model additional opportunities are now offered
We create Creed accelerator teams where use cases from different parts of the companies are now elaborated to really underline and support the Strategic purpose of the respective function and make things easier so for our people we rolled out the mercedesbenz direct chat an application where everybody can
Really test and try and work with a Ai and large language models we also um started to offer curated learning path for people being at the very beginning and just trying to how do I prompt how do I use the system but up to data and
AI Specialists and um as I mentioned in my presentation last year alone we qualified 600 experts in data and AI applications so we want to tackle this Challenge on on various levels so with use cases specifically for all departments functions and plans uh for everybody to really um support
The pioneering Spirit of our employees to really work in their processes applying new methods of working but also in very specific and dedicated cases like we do with our data Specialists and ey engineers and if um we talk about what are the consequences of the applications I think we are just at the
Beginning of this um era and there are going to be new jobs new profiles emerging other profiles will will be disappearing and it’s our job to really manage that transition and to to bridge the gap between today and tomorrow thank you and another perhaps a
Last one for you on you made the point about the necessity of the right political framework for for um yeah the just transition I remember on one of your charts there was kind of uh yeah the the winding road of EU uh regulations so how do we engage with
Governments and what’s our role um at that end yeah I I think you know transformation is not an easy task and I think probably for everyone and we need all the forces together that’s goes back to my to response to my first question here uh we need a close collaboration
Between legislators politics social Society Nos and uh business I think it’s also important that companies takes a clear stance with regard to relevant questions I think engagement um political engagement is a part of our democracy that’s important and with that to bring our interest also into a
Political level shows also that we want to share and our experiences I think that’s that’s an important Point what is also important in in in the future is I think in the dynamic envirment we have um the technical developments um we um Sabina just mentioned also artificial
Intelligence we see what happens is that often the legislators goes behind behind all these um developments and what we learned is um the most efficient decisions and also legislations we get if we are um involved in a early process in the legislation process I think that’s important because we need to find
A balance between effective regulations because naturally want to have effective regulations responsible um legislation but also the legislation should not hinder Innovation and this balance is is is very complex and I think um for that um we um are very engaged we have our stakeholder dialogues where we are in
Really regular contact with with NOS where sh um sharing our opinions also under the chattin rules but it is also important to say that naturally if we are getting engaged in these um processes that the public has the right to be informed about this advocacy and we report um reporting for example um
Our activities in that regard on a regular basis in our climate policy report but I think you know a a a stable engagement and an active engagement from business in all these questions is very important thanks rata savine for for sharing with us on our approach to shaping adjust transition while focusing
On the two strategic fields of action people and human rights but also in its responsible policy and the community engagement we’ve already heard about digitalization in several previous agenda items the following presentation will now focus on how we bring this together with the elementary characteristic of trust we call it
Digital trust and we’ll learn more about this from rinata again the stage is Yours the automotive industry is undergoing tremendous change and transformation a key Drive of this transformation is the dynamic and disruptive development of digital Technologies products and services at mercedesbenz we are transforming from a car manufacturer to a softwar driven company or in other words from steel to software the rapid digital
Transformation and the resulting complex challenges lead to two developments first they are causing uncertainty in our industry among our external stakeholders and in society second in an effort to keep up with the pace of the ongoing transformation governments worldwide are responding to this new technologies and Digital Risk with a new regulatory
Requirements how do we deal with this as a company of course we take all necessary steps to comply with such requirements but that’s not enough we need our stakeholders trust in our approach to dealing with digital Innovation we are convinced this is a necessary condition for sustainable and
Competitive business success in this new area that is why our Target is building digital trust we are driven by the ambition to actively build and maintain trust among stakeholders at the same time we aim to Foster Innovation and leverage the potential of new technologies therefore we drive the digital transformation with trust
Formation let me show you where we have already made some progress the responsible and secure handling of data is essential to Foster trust among our customers and we do this with our data principles and our data Vision our seven data principles provide a strong basis for the responsible
Handling of data at mercedesbenz they cover aspects like transparency choice and data security they support our employees in working with data by setting the direction and determining which aspects need to be considered these principles serve as an inner Compass so to say in addition our data Vision emphasizes customer trust as our
Foundation for sustainable digital products and services to realize their full business potential in order to enhance our customers trust we approach them in a convenient Manner and provide them with intuitive and honest information about data usage and their choices in this context this is why we included our
Privacy Center in the Mercedes me app it allows customers transparency and control over the use of their data let’s turn to another major topic artificial intelligence we at Mercedes-Benz believe in the great opportunities of AI we are convinced that AI can help us shape the future in a positive way
Therefore we want to leverage its potential and Foster AI Innovation both for our customers and for our employees at the same time we are aware of the risks and uncertainties related to AI as with other Technologies AI is not inherently good or bad it is all
About how you work with it and how you manage the risks already in 2019 we developed the Mercedes b II principles for the responsible handling of AI and anchored them in our int code they complement the data vision and are the basis for our responsible AI approach our AI principles stand for
Responsible use explainability protection of privacy and safety and reliability we apply these AI principles both in our cars and as a part of Enterprise processes at the CES in Las Vegas this January we introduce the mpix virtual assistant a voice assistant in the cars entertainment system which takes
Advantage of Chen AI for a more natural dialogue in response to queries and commands with our in-house CH AI chatbot MB direct chat we Empower our employees to use chat GPT in a business context thanks to several technical safeguards Sabin referred to this opportunities for our employes in her presentation
Already our clear commitment to these principles and their application is an important element of promoting digital trust among our customers employees and other stakeholders but how can we drive Innovation meet the requirements of regulatory Dynamics and Foster digital trust at the same time it is clear that
Governance plays a crucial role but it has to be well balanced we believe that the answer to this complex question is adaptive governance in order to succeed here we have to anticipate new risks and Regulatory developments adapt to these changes and Define suitable guard rails to deal with the risks
Responsibility in addition digital Innovation can lead to new ethical questions that need to be addressed we pursue a holistic perspective by collaborating cross functionally between experts from legal ethics compliance and business partners with a clear endtoend thinking this approach helps our company to develop digital Innovations rapidly but also responsibly however cross functional
Collaboration includes having sometimes emotional discussions about what is right and what the balance between risk management and business Innovation should be dilemma situation exist and need to be handled responsibly these are not easy discussions but they are the right discussions to have and they demonstrate our sincere commitment to our
Principles I am convinced that the consequent application of adaptive governance enables digital trust as a key driver of sustainable and competitive digital Business hello and welcome for me too my name is Harold Willam and I’m responsible for finance as well as for Mercedes-Benz Mobility sustainability is about securing our long-term future this includes our ability to invest into new and Greener Technologies at a time when geopolitical and microeconomic factors are extremely volatile only those
Companies which can fund the development and scale sustainable Technologies in production will make the difference on the pth to a lowc carbon an era Mercedes-Benz invented the modern car 138 years ago and invested around1 billion EUR in 2023 more per vehicle than any other large manufacturer our financial results in
2023 show that we have made significant progress in making Mercedes-Benz more resilient despite a challenging environment we continue to implement our sustainable business strategy towards ambition 2039 which is reflected in a 73% increase in B Sales of the mercedesbenz brand last year however we have heard today that we
Can’t decouple ourselves from market conditions and ultimately from what customers want the transformation into an all electric future is still the destination we’re aiming for but the path to get there is not a straight line as all said in his introduction we now expect XUV sales of our Passenger cars
To reach as high as 50% in the new vehicle Fleet in the second half of the decade at the same time we continue to follow our value over volume strategy therefore we see no reason to artificially push products into the market does this mean that we are reducing our investments in electric vehicles
No we are investing significant amounts in our all electric vehicle architectures drivetrains and batteries as shown by the EV share of 47% of our total investments in 2023 the good news is that healthy profits from our Cutting Edge hybrid and combustion engine lineup will continue to fund this investment
With almost 36 billion EUR of free cash flow generated since 2020 I think it’s fair to say our products are cash generating machines despite all this we confirm our medium-term goal of reducing investments in the second half of the decade by minus 20% compared to 2019 levels based
On fewer vehicle platforms than today and therefore less complexity and investment needs this also gives us the flexibility to keep our combustion engine Cutting Edge and compliant with upcoming emission standards well into the second half of the decade in addition we are investing in the decarbonization of our value chain
France and Europe have shown us good examples of this such as the expansion of the renewable energies for our own production plans or the investment in our own high performance charging Network in the planned amount of 1.4 billion EUR by 2028 with this approach we are moving
Forward with our ambition 2039 and have the the flexibility to meet all of our customer needs well into the 2030s whether it’s an all electric powertrain or an internal combustion engine how are we preparing our company for this transformation we started early on to prepare the company for the structural
Changes driven by climate change and the transition in to renewable energy sources to put it simply we have optimized our footprint and lowered the cost space what did we do on capacity we significantly reduced our bre even point in production to 1 to 1.5 million units among other things by optimizing the
Global Production Network including the sale of production sites as in France and Brazil and in the Russian plant another good example of our transformation is the conversion of the power Trin plant in yavor in Poland into van EA production site and thanks to our highly flexible production Network we
Can produce xvs and combustion engine vehicles on a single production line maximizing the utilization of our assets which includes experience assembly staff in this way we mitigate risk faced by other competitors who sought to split the comp their companies into a bef entity and a combustion engine
Entity what are we doing on the cost side we see that the variable cost ofb will exceed the cost of combustion engine vehicles for the foreseeable future so what are our efforts to reduce these cost we use all levers to aim for a double digit margin also in the future
Let me give you a few examples on scale we design our future all electric architectures in a way that we can use common components and Synergy Parts on batteries we believe that we can reduce today’s average batter battery average cost per kilowatt hours by more than 30%
Over the next few years amongst others through an optimized cell and module design as well as further development of nmc and Next Generation lfp batteries on the procurement side we target to reduce material cost in the next years our goal is a structurally lower cost space in cooperation with
Suppliers summing it up we calibrate our business system so that Mercedes-Benz can be a double digit margin company throughout the transformation towards net carbon neutrality this leads me to my next Point our EU taxonomy reporting for 2023 the taxonomy aligned Revenue share for cars and vans increased to 14% in
Line with our EXE TV sales our taxonomy aligned capital expenditure increased 29% year-over-year this was mainly due to an increase of 47% in taxonomy aligned investments in intangible assets above all this includes capitalized development cost for the transformation to all electric vehicles the taxonomy aligned operating expenses which are mainly non-
Capitalized development costs were impacted by a higher capital I ization share of our electric vehicles investment as previously mentioned but at the end of the day it’s all about how we externally EV valued on our overall ESG performance ESG ratings are important on the capital market and in the sustainability oriented investment
Process as they serve as a further decision-making aid for many investors since 2019 with the announcement of our sustainable business strategy and ambition 203 we have significantly improved our ESG rating sources scores at MSC and sustainalytics and successfully maintained our already high level at issg and cdb climate
Change what stands out is our latest upgrade as at sustainabil litics from medium to low risk this is thanks to the effort of the whole Mercedes-Benz team in direct comparison with our competitors in the automotive sector we are among the best rated companies this makes us both proud and mindful in the
Knowledge that these results are only possible through continuous execution of our sustainable business strategy and ambition 2039 we also live up to our sustainability commitment when we act as an investor ourselves with our pension assets we strive to Foster sustainable business models our Focus is on integrating sustainability aspects
Into our investment decisions to ensure that the associated risk and return aspects are properly considered the group utilizes opportunities arising from sustainability developments by committing to ESG themed Investments we have defined carbon reduction targets and have already successfully lowered the carbon footprint of our German pension assets compared to the aggregated benchmark
This means that 8.1 billion EUR of our assets are invested in such a way that a carbon reduction target has to be reached this volume equals 37% of our group pension assets by the end of last year to sum it up we continue to demonstrate resilience and our and are
Executing our strategy of profitable and sustainable growth even in a challenging Market environment our financing needs for the transformation are covered by our current portfolio of desirable cars and premium Vans our Strate strategic direction is clear we stay focused on our investments in all electric vehicles
At the same time we use our flexibility to tactically respond to market conditions and customer demand we’re taking every effort to set up our business to deliver a strong financial performance during the transformation towards ambition 2039 well that’s it for me and thanks very much and now I think it’s time for
Our second Q&A
2 Comments
🙌👏
Hey Mercedes…how can I help you…get rid of the CEO of Mercedes!!! 😂😂