Element Fleet Management Releases 2023 ESG Report
26 Junho 2023 - 9:32AM
Element Fleet Management Corp. (TSX: EFN) (“Element” or the
“Company”), the largest publicly traded pure-play automotive fleet
manager in the world, today announced the release of “Progress that
Matters,” the Company’s 2023 Environmental, Social and Governance
(ESG) Report. This third annual Element report outlines the
Company’s ESG strategy and advancements made in 2022 on fleet
electrification, diversity within its workforce and across its
value chain, and community support.
“Element’s ESG initiatives in 2022 represent meaningful progress
towards a future where we deliver sustained and positive
differences to the clients and communities we serve globally,” said
Laura Dottori-Attanasio, President and CEO of Element Fleet
Management. “Element’s efforts to understand our impact are aimed
at positioning us to drive progress for our clients and communities
in areas of importance, such as reducing greenhouse gas emissions
and establishing diverse supplier networks across our global
operations.”
This year’s report features notable additions, including three
years of greenhouse gas (GHG) emissions data, which provides the
Company with a deeper understanding of its climate impact.
Additionally, a third-party materiality assessment was conducted to
evaluate the financial and societal impacts of priority areas
within Element’s business.
Report Highlights
- Reducing carbon emissions through
internal fleet and client electrification:
- 20% of the Company’s internal fleet
is electrified, with a goal of 100% by the end of 2025; and
- Client EV originations grew 75% in
2022 following the launch of Arc by Element in 2022 -- the
Company’s end-to-end full-service fleet electrification
offering.
- Enhancing supplier diversity:
Element enhanced its supplier diversity program with a
diverse-supplier-locator feature in its app for clients’ drivers,
and diversity spend dashboard tools for clients, which contributed
to the $1.75 billion spent with diverse suppliers in 2022.
- Safety: The Company’s suite of fleet
driver safety products and services has reduced clients’ annual
“preventable collisions” incident rates by 21%, on average, over
three years.
- Recognition of strong governance
practices and improvements in external ESG scores:
- Placed in the top 25% in the
EcoVadis sustainability ranking; and
- Placed in the top 7% of 226 Canadian
companies in The Globe and Mail’s Board Games.
“We significantly advanced our ESG efforts in 2022 by forging
strong alliances with our clients, vendors, partners, and industry
stakeholders, who share in our commitment to operating with
accountability and transparency to help create a more sustainable
and inclusive future,” said Jacqui McGillivray, Executive Vice
President and Chief People and Social Impact Officer, Element Fleet
Management.
The 2023 ESG Report incorporates globally recognized frameworks
and standards, aligning to the standard set out by the
Sustainability Accounting Standards Board. Additionally, the
Company became a signatory of the United Nations Global Compact in
2022. Element is focused on five of The United Nations Sustainable
Development Goals (UN SDGs) it believes are most relevant to its
global business activity and is actively engaged with the United
Nations.
To learn more about ESG at Element, please visit
https://www.elementfleet.com/about-us/esg
To learn more about Arc by Element and fleet electrification,
please visit https://www.elementfleet.com/arc
About Element Fleet ManagementElement Fleet
Management (TSX: EFN) is the largest publicly traded pure-play
automotive fleet manager in the world, providing the full range of
fleet services and solutions to a growing base of loyal,
world-class clients – corporates, governments and not-for-profits –
across North America, Australia and New Zealand. Element’s services
address every aspect of clients’ fleet requirements, from vehicle
acquisition, maintenance, accidents and remarketing, to integrating
EVs and managing the complexity of gradual fleet electrification.
Clients benefit from Element’s expertise as the largest fleet
solutions provider in its markets, offering unmatched economies of
scale and insight used to reduce fleet operating costs and improve
productivity and performance. For more information,
visit www.elementfleet.com/investors.
Contacts:
Michael BarrettVice President, Investor Relations(416)
646-5698mbarrett@elementcorp.com
Samantha OuimetVice President, Marketing and
Communications(416) 417-1272souimet@elementcorp.com
This press release includes forward-looking statements regarding
Element and its business. Such statements are based on the current
expectations and views of future events of Element’s management. In
some cases the forward-looking statements can be identified by
words or phrases such as “may”, “will”, “expect”, “plan”,
“anticipate”, “intend”, “potential”, “estimate”, “believe” or the
negative of these terms, or other similar expressions intended to
identify forward-looking statements, including, among others,
statements regarding Element’s ESG Report, measurements, metrics
and targets; electrification measurements, metrics and targets;
diversity measurements, metrics and targets; EV strategy and
capabilities; global EV adoption rates; efforts to reduce carbon
emissions, to drive client enhancements, to enhance safety and to
improve internal governance practices; and expectations regarding
financial performance. No forward-looking statement can be
guaranteed. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause Element’s
actual results, performance or achievements, or industry results,
to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statement
or information. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. Such
risks and uncertainties include those regarding the evolution of
ESG targets, measurements and metrics, risks regarding the fleet
management and finance industries, economic factors and many other
factors beyond the control of Element. A discussion of the material
risks and assumptions associated with this outlook can be found in
Element's annual MD&A, and Annual Information Form for the year
ended December 31, 2022, each of which has been filed on SEDAR and
can be accessed at www.sedar.com. Except as required by applicable
securities laws, forward-looking statements speak only as of the
date on which they are made and Element undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
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