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- \nThe 2024 Sustainability Report details PHINIA’s year-over-year progress across environmental, social, and governance priorities, showcasing measurable impact relating to emissions, energy, innovation, and engagement, among other areas<\/p>\n<\/li>\n
- \nPHINIA reinforces its commitment to shaping a better, more responsible future through advancing sustainability initiatives aligned with its business strategy<\/p>\n<\/li>\n
- \nThe second annual report also highlights PHINIA\u2019s continued investment in sustainable innovation across its product portfolio \u2014 including hydrogen and other alternative fuel technologies, remanufacturing, and product life cycle management<\/p>\n<\/li>\n<\/ul>\n
AUBURN HILLS, Mich.–(BUSINESS WIRE<\/a>)–PHINIA Inc.<\/a> (NYSE:PHIN), a leader in premium fuel systems, electrical systems, and aftermarket solutions, today released its 2024 Sustainability Report, reflecting company-wide progress across environmental, social, and governance priorities in 2024. Now in its second year, the report details PHINIA\u2019s continued investment and development in sustainable operations and innovation, circular economy practices, inclusivity and engagement, employee well-being and development, and responsible supply chain operations, among other key strategies and progress.<\/p>\n
\n\u201cWe believe sustainability is not only core to responsible business \u2014 it\u2019s an important contributor to our long-term success and business strategy. Our sustainability initiatives create lasting value for our stakeholders and fuel innovation driven by our people, our purpose, and our values across engineering, operations, and culture,\u201d said Brady Ericson, President and CEO of PHINIA. \u201cWith this second annual report, we\u2019ve moved from building a foundation to driving measurable impact. We\u2019re continuing to shape a more sustainable future for our industry and communities through data-driven decisions, global collaboration, and targeted investments.\u201d<\/p>\n
\nThe 2024 Sustainability Report details PHINIA’s year-over-year progress and other developments across key environmental, social, and governance initiatives. Highlights from PHINIA\u2019s 2024 Sustainability Report include:<\/p>\n
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- Investments in More Sustainable Technologies<\/b>: 89% of PHINIA\u2019s 2024 research and development (R&D) investments were dedicated to fuel efficiency and alternative fuel technologies \u2014 including for use with zero-carbon fuels and lower-carbon fuels.\n<\/li>\n
- Hydrogen Innovation in Action<\/b>: Showcased H2<\/sub>ICE developments through partnerships with Alpine Racing for its Alpenglow<\/i> hydrogen-powered prototype and GCK Group and Solution F with the groundbreaking hydrogen-powered Jeep Cherokee retrofit.\n<\/li>\n
- Operational Emissions Reductions<\/b>: Reduced Scope 1 and 2 greenhouse gas (GHG) emissions by 11.7% year-over-year. Established a near-term emissions reduction goal of 50% by 2030 from a 2020 baseline year for absolute Scope 1 and 2 GHG emissions.\n<\/li>\n
- Smart Energy Management<\/b>: Reduced energy consumption by 4.5% year-over-year. Implemented a global energy monitoring system across priority manufacturing sites, which represent approximately 85% of PHINIA\u2019s total energy consumption \u2014 enabling real-time energy efficiency insights and robust trend analysis.\n<\/li>\n
- Remanufacturing and Circular Economy Innovation<\/b>: Reused 52% of the core mass of remanufactured material to return functional products back into service at its largest remanufacturing facility in 2024. Over 12 million pounds of material processed for remanufacturing at this facility since 2011. Advanced training initiatives for Design for Environment, PHINIA\u2019s process used to quantify and reduce life cycle emissions of new products.\n<\/li>\n
- Employee Skills-Building and Well-Being<\/b>: Recorded approximately 145,000 employee training hours, offered mental health first aid training opportunities, launched the global PHINIA Active<\/i> wellness program, and provided other learning, development, and well-being resources and opportunities.\n<\/li>\n
- Engaged and Inclusive Culture<\/b>: Reported global employee engagement survey results, highlighting robust support of PHINIA\u2019s culture and trust in our leadership. Introduced global Inclusion strategy, expanded PHINIA Women in Science and Engineering (WISE+) program to 24 chapters across all PHINIA locations, and offered numerous other voluntary engagement opportunities available to all employees.\n<\/li>\n
- Supply Chain Responsibility and Ethical Business<\/b>: Recognized 10 suppliers for excellence, including alignment with PHINIA\u2019s sustainability expectations, through the PHINIA Partnership Program (3P). 81% of in-scope suppliers (by spend) completed sustainability self-assessments. Expanded ethics and compliance trainings initiatives and resources.\n<\/li>\n<\/ul>\n
\nPHINIA will continue building on its momentum in 2025, which for environmental-focused initiatives will include the development of a Scope 3 GHG emissions baseline and strategy, broader adoption of renewable energy across global facilities, expansion of life cycle management tools and training, and continued investments in fuel efficiency, alternative fuel systems, and technical training.<\/p>\n
\n\u201cWe are proud of our progress \u2014 and even more energized by what lies ahead,\u201d said Ericson. \u201cFrom more sustainable technologies and establishing emissions reduction goals to engaging our talent and ethical business practices, sustainability continues to guide how we innovate, operate, and grow.\u201d<\/p>\n
\nFor more information and to view the full 2024 Sustainability Report, please visit www.phinia.com\/sustainability<\/a>.<\/p>\n
\nTo connect with our global sustainability team, please contact sustainability@phinia.com<\/a>.<\/p>\n
About PHINIA<\/b><\/p>\n
\nPHINIA is an independent, market-leading, premium solutions and components provider, with over 100 years of manufacturing expertise and industry relationships and a strong brand portfolio that includes DELPHI\u00ae<\/sup>, DELCO REMY\u00ae<\/sup> and HARTRIDGE\u2122. With over 12,500 employees across 43 locations in 20 countries, PHINIA is headquartered in Auburn Hills, Michigan, USA.<\/p>\n
\nAcross commercial vehicles and industrial applications (medium-duty and heavy-duty trucks, buses and other off-highway construction, marine, agricultural and aerospace and defense), light commercial vehicles (vans and trucks) and light passenger vehicles (passenger cars, mini-vans, cross-overs and sport-utility vehicles), we develop fuel systems, electrical systems, and aftermarket solutions designed to keep combustion engines operating at peak performance, while at the same time investing in advanced technologies to unlock the potential of alternative fuels.<\/p>\n
\nBy providing what the market needs today to become more efficient and sustainable, while also developing innovative products and solutions to contribute to lower carbon mobility, we are the partner of choice for a diverse array of customers \u2013 powering our shared journey toward a cleaner tomorrow.<\/p>\n
\n\u00a9 2025 PHINIA Inc. All Rights Reserved.<\/p>\n
\n(DELCO REMY is a registered trademark of General Motors LLC, licensed to PHINIA Technologies Inc.)<\/p>\n
Forward-Looking Statements<\/b>: This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Forward-looking statements are statements other than historical facts that provide current expectations or forecasts of future events based on certain assumptions and are not guarantees of future performance. Forward-looking statements use words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cdesigned,\u201d \u201ceffect,\u201d \u201cestimate,\u201d \u201cevaluate,\u201d \u201cexpect,\u201d \u201cforecast,\u201d \u201cgoal,\u201d \u201cinitiative,\u201d \u201cintend,\u201d \u201clikely,\u201d \u201cmay,\u201d \u201coutlook,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cpursue,\u201d \u201cseek,\u201d \u201cshould,\u201d \u201ctarget,\u201d \u201cwhen,\u201d \u201cwill,\u201d \u201cwould,\u201d and other words of similar meaning.<\/p>\n
\nForward-looking statements are subject to risks, uncertainties, and factors relating to our business and operations, all of which are difficult to predict, and which could cause our actual results to differ materially from the expectations expressed in or implied by such forward-looking statements. Risks, uncertainties, and factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: adverse changes in general business and economic conditions, including recessions, adverse market conditions or downturns impacting the vehicle and industrial equipment industries; our ability to deliver new products, services and technologies in response to changing consumer preferences, increased regulation of greenhouse gas emissions, and acceleration of the market for electric vehicles; competitive industry conditions; failure to identify, consummate, effectively integrate or realize the expected benefits from acquisitions or partnerships; pricing pressures from original equipment manufacturers (OEMs); inflation rates and volatility in the costs of commodities used in the production of our products; changes in U.S. and foreign administrative policy, including tariffs, changes to existing trade agreements and import or export licensing requirements, and any resulting changes in international trade relations; our ability to protect our intellectual property; failure of or disruption in our information technology infrastructure, including a disruption related to cybersecurity; our ability to identify, attract, retain and develop a qualified global workforce; difficulties launching new vehicle programs; failure to achieve the anticipated savings and benefits from restructuring and product portfolio optimization actions; extraordinary events, including natural disasters or extreme weather events, fires or similar catastrophic events, political disruptions, terrorist attacks, pandemics or other public health crises, and acts of war; risks related to our international operations; the impact of economic, political, social and market conditions on our business in China; our reliance on a limited number of OEM customers; supply chain disruptions, including due to U.S. and foreign government action; work stoppages, production shutdowns and similar events or conditions; governmental investigations and related proceedings regarding vehicle emissions standards, including the ongoing investigation into diesel defeat devices; current and future environmental, health and safety, human rights and other laws and regulations; the impacts of climate change, regulations related to climate change and various stakeholders\u2019 emphasis on climate change and other related matters; compliance with and changes in other laws and regulations; liabilities related to product warranties, litigation and other claims; tax audits and changes in tax laws or tax rates taken by taxing authorities; impairment charges on goodwill and indefinite-lived intangible assets; the impact of changes in interest rates and asset returns on our pension funding obligations; the impact of restrictive covenants and other requirements on our financial and operating flexibility pursuant to the agreements governing our indebtedness; risks relating to the spin-off from our former parent, including our ability to achieve some or all of the benefits that we expect to achieve from the spin-off, a determination that the spin-off does not qualify as tax-free for U.S. federal income tax purposes, and our or our former parent\u2019s failure to perform under, or additional disputes that may arise between the parties 4 relating to, various transaction agreements executed in connection with the spin-off; and other risks and uncertainties described in our reports filed from time to time with the Securities and Exchange Commission.<\/p>\n
\nWe caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.<\/p>\n
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View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250807230775\/en\/<\/a><\/span><\/p>\n
PHINIA
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IR contact:
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<\/b>Kellen Ferris
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Vice President of Investor Relations
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investors@phinia.com
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+1 947-262-5256<\/p>\nMedia contact:
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<\/b>Kevin Price
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Global Brand & Communications Director
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media@phinia.com
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+44 (0) 7795 463871<\/p>\nKEYWORDS:<\/b> United States North America Michigan<\/p>\n
INDUSTRY KEYWORDS:<\/b> Professional Services Thought Leadership Logistics\/Supply Chain Management Sustainability Other Automotive Socially Responsible Investing Off-Road Trucks & SUVs Fleet Management Recycling Aftermarket Automotive Manufacturing Other Energy Automotive Manufacturing Environmental Policy Oil\/Gas Environmental Issues Coal Environmental Health Alternative Energy Energy Other Transport Trucking Rail Maritime Environmental, Social and Governance (ESG) Transport General Automotive Climate Change Environment<\/p>\n
- Hydrogen Innovation in Action<\/b>: Showcased H2<\/sub>ICE developments through partnerships with Alpine Racing for its Alpenglow<\/i> hydrogen-powered prototype and GCK Group and Solution F with the groundbreaking hydrogen-powered Jeep Cherokee retrofit.\n<\/li>\n
- Investments in More Sustainable Technologies<\/b>: 89% of PHINIA\u2019s 2024 research and development (R&D) investments were dedicated to fuel efficiency and alternative fuel technologies \u2014 including for use with zero-carbon fuels and lower-carbon fuels.\n<\/li>\n
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