DGAP-News: Progress-Werk Oberkirch AG: PWO joins the Science Based Targets initiative, reinforcing its ambition to help shape the climate-neutral mobility of the future

Oberkirch, April 13, 2022 - The PWO Group pursues an ambitious sustainability strategy and has set itself challenging milestones. For this reason, PWO has now become one of the many companies that have joined the Science Based Targets initiative (SBTi) in order to reduce their CO₂ emissions in line with the findings of climate research. We have undertaken to set ourselves short-term, Group-wide CO₂ reduction targets in line with the SBTi requirements.

The SBTi is a collaboration between CDP, the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). In addition, SBTi supports the We Mean Business Coalition. It defines and promotes proven methods for setting science-based targets, provides resources and guidance on reducing obstacles when introducing these, and independently assesses and approves companies' CO₂ targets. More than 2,700 companies worldwide have already joined the SBTi and taken action to protect the climate.

Carlo Lazzarini, CEO of PWO AG, emphasizes PWO's commitment: "Sustainability is one of the key pillars that will determine companies' future viability. We are committed to overall sustainability in all three dimensions: environmental and social aspects and responsible corporate governance. We are therefore joining renowned international organizations and initiatives and having them examine us. In this way, we want to act as a force for good in society. As a company that is entirely independent of combustion engines and has comprehensive engineering expertise in developing products and processes in metal forming and joining technologies, we are ideally positioned for the carbon neutral mobility of the future. This allows us to focus all available resources on shaping our future. For PWO, the year 2022 will be dominated by further acceleration of its sustainability strategy."

Progress-Werk Oberkirch AG
The Executive Board

PWO profile
With our innovative, climate-friendly lightweight solutions, we are the preferred partner of the global mobility industry. As an engineering house, we are constantly driving forward the development and production of sophisticated metal components and complex subsystems.

Under the slogan "People, Planet, Progress," we use our technological leadership at the boundaries of what is technologically feasible in metal forming and joining to serve our customers and business partners. Responsibility is at the heart of everything we do. We see our business as a "force for good", as our contribution to a positive development in the future for the benefit of our customers, employees and shareholders as well as for our environment. To this end, we are focusing on digitalizing all of our processes using the tools of the 4th industrial revolution.

We address the 3 areas of the mobility of the future: electrification, safety and comfort. We are already independent of the combustion engine today. Around 3,000 employees at 8 locations on 3 continents ensure maximum delivery reliability and quality.