VANCOUVER, BC, July 1, 2023 /PRNewswire/ -- Westport Fuel Systems Inc. ("Westport" or the "Company") (TSX: WPRT) (NASDAQ: WPRT), a world leader in alternative fuel transportation technologies Low Emissions, announces the release of its 2022 Environmental, Social and Governance ("ESG") Report (the "2022 ESG Report"). The 2022 ESG Report outlines the Company's achievements within its main ESG-based focus areas, including:
Since its inception, Westport has focused on clean and affordable transportation solutions, and therefore the company's goals and strategies are inherently aligned with today's ESG-related risks and opportunities. To positively impact its global customers, Westport has strengthened its governance practices and management processes, advanced stakeholder engagement, and is working to strengthen supply chain resiliency and due diligence.
"The release of our 2022 ESG Report is a testament to our commitment to creating sustainable value for all of our stakeholders. It reflects our deep understanding that success lies not only in financial gain, but also in fostering environmental stewardship, promoting social responsibility and driving strong governance. While we celebrate our progress, we recognize the work that lies ahead," said David M. Johnson, Westport CEO.
"The challenges we face as a global community demand our unwavering dedication to continuous improvement. Our ESG Report 2022 serves as a compass, pointing us to areas where we can further improve our impact and drive positive change. It highlights initiatives that "We are undertaking to address critical issues and reinforces our commitment to operate ethically, minimize our environmental footprint and empower communities. Let's build together a brighter, more sustainable tomorrow," Johnson added.
Highlights of the ESG Report 2022 include:
Westport's sustainability journey continues through an emphasis on agility, adaptability and resilience. With our sustainability-driven business model, strong governance practices, and dedicated workforce, we strive to create long-term shareholder value while advancing global decarbonization. By 2023, Westport will prioritize energy management initiatives at all of our facilities, with the goal of reducing our carbon footprint.
After the successful implementation of photovoltaic energy at its facilities in Poland, the Company also plans to increase investments in its Italian facilities to allocate 10% of its energy needs from this renewable source. In addition, Westport conducted decarbonization workshops at its three largest production sites in early 2023, thus developing action plans to drive future reductions in Scope 1 and Scope 2 carbon emissions.
The 2022 ESG Report can be downloaded at https://wfsinc.com/company/sustainability/overview and we welcome your comments or inquiries at email@example.com.
About Westport Fuel Systems
At Westport Fuel Systems, we are driving innovation to power a cleaner future. We are a leading supplier of advanced fuel delivery systems and components for clean, low-carbon fuels such as natural gas, renewable natural gas, propane and hydrogen to the global automotive industry. Our technology offers the performance and fuel efficiency required by transportation applications and the environmental benefits that address the challenges of climate change and urban air quality. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, we serve our customers in more than 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.
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