- Marks the fifth consecutive year BorgWarner has been
included
- Reaffirms BorgWarner's environmental, social and
corporate governance (ESG) efforts
- Companies scored and ranked by KPI research and public
survey findings
AUBURN
HILLS, Mich., Dec. 7, 2023
/PRNewswire/ -- BorgWarner, a global product leader in delivering
innovative and sustainable mobility solutions, has been awarded on
Newsweek's list of America's Most Responsible Companies 2024. This
prestigious award is presented by Newsweek and Statista Inc., the
world-leading statistics portal and industry ranking provider. The
awards list was announced on Dec. 6,
2023, and can currently be viewed on Newsweek's website.
America's Most Responsible Companies ranking focuses on a
holistic view of corporate responsibility that considers all three
pillars of ESG: environment, social and corporate governance. The
analysis is based on two metrics:
- KPI Research: The KPI research formed the first part of the
detailed analysis. Over 30 KPIs were researched for the top 2,000
public companies by revenue with headquarters in the United States.
- Public Survey: The survey was the second part of the detailed
analysis to evaluate the companies' corporate social responsibility
(CSR) reputation. 17,000 U.S. residents were surveyed. Respondents
were asked to select companies familiar to them and then to
evaluate the company's CSR performance in general and in the three
subdimensions: social, environmental and governance.
In the final step, an overall score was calculated for each
company that had been analyzed. The final list recognizes the top
600 most responsible companies in the U.S., spanning 14
industries.
"We are thrilled to be recognized on Newsweek's list of
America's Most Responsible Companies, for the fifth year in a row,
among other highly respected companies," said Frédéric Lissalde,
president and CEO, BorgWarner Inc. "Corporate responsibility is a
core focus at BorgWarner, driving our culture, actions and every
business decision we make. We are constantly reassessing our ESG
programs and initiatives to adapt as needed and are pleased to see
our team's efforts validated by Newsweek's award program."
About Statista: Statista publishes hundreds of worldwide
industry rankings and company listings with high profile media
partners. This research and analysis service is based on the
success of statista.com, the leading data and business intelligence
portal that provides statistics, business relevant data, and
various market and consumer studies and surveys.
About BorgWarner
For more than 130 years, BorgWarner
has been a transformative global product leader bringing successful
mobility innovation to market. Today, we're accelerating the
world's transition to eMobility – to help build a cleaner,
healthier, safer future for all.
Forward-Looking Statements: This release may contain
forward-looking statements as contemplated by the 1995 Private
Securities Litigation Reform Act that are based on management's
current outlook, expectations, estimates and projections. Words
such as "anticipates," "believes," "continues," "could,"
"designed," "effect," "estimates," "evaluates," "expects,"
"forecasts," "goal," "guidance," "initiative," "intends," "may,"
"outlook," "plans," "potential," "predicts," "project," "pursue,"
"seek," "should," "target," "when," "will," "would," and variations
of such words and similar are intended to identify such
forward-looking statements. Further, all statements, other than
statements of historical fact, contained or incorporated by
reference in this release that we expect or anticipate will or may
occur in the future regarding our financial position, business
strategy and measures to implement that strategy, including changes
to operations, competitive strengths, goals, expansion and growth
of our business and operations, plans, references to future success
and other such matters, are forward-looking statements. Accounting
estimates, such as those described under the heading "Critical
Accounting Policies and Estimates" in Item 7 of our most recently
filed Annual Report on Form 10-K ("Form 10-K"), are inherently
forward-looking. All forward-looking statements are based on
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions and
expected future developments, as well as other factors we believe
are appropriate under the circumstances. Forward-looking statements
are not guarantees of performance, and the Company's actual results
may differ materially from those expressed, projected or implied in
or by the forward-looking statements.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this release.
Forward-looking statements are subject to risks and uncertainties,
many of which are difficult to predict and generally beyond our
control, that could cause actual results to differ materially from
those expressed, projected or implied in or by the forward-looking
statements. These risks and uncertainties, among others, include:
supply disruptions impacting us or our customers, such as the
current shortage of semiconductor chips that has impacted original
equipment manufacturer ("OEM") customers and their suppliers,
including us; commodity availability and pricing, and an inability
to achieve expected levels of recoverability in commercial
negotiations with customers concerning these costs; competitive
challenges from existing and new competitors including OEM
customers; the challenges associated with rapidly changing
technologies, particularly as relates to electric vehicles, and our
ability to innovate in response; uncertainties regarding the extent
and duration of impacts of matters associated with the COVID
19/coronavirus pandemic, including additional production
disruptions; the difficulty in forecasting demand for electric
vehicles and our electric vehicles revenue growth; potential
disruptions in the global economy caused by Russia's invasion of Ukraine; the ability to identify targets and
consummate acquisitions on acceptable terms; failure to realize the
expected benefits of acquisitions on a timely basis; the
possibility that the spin-off transaction will not achieve its
intended benefits; the failure to promptly and effectively
integrate acquired businesses; the potential for unknown or
inestimable liabilities relating to the acquired businesses; our
dependence on automotive and truck production, both of which are
highly cyclical and subject to disruptions; our reliance on major
OEM customers; fluctuations in interest rates and foreign currency
exchange rates; our dependence on information systems; the
uncertainty of the global economic environment; the outcome of
existing or any future legal proceedings, including litigation with
respect to various claims, or governmental investigations,
including related litigation; future changes in laws and
regulations, including, by way of example, taxes and tariffs, in
the countries in which we operate; impacts from any potential
future acquisition or disposition transactions; and the other risks
noted in reports that we file with the Securities and Exchange
Commission, including Item 1A, "Risk Factors" in our most recently
filed Form 10-K and/or Quarterly Report on Form 10-Q. We do not
undertake any obligation to update or announce publicly any updates
to or revisions to any of the forward-looking statements in this
release to reflect any change in our expectations or any change in
events, conditions, circumstances, or assumptions underlying the
statements.
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SOURCE BorgWarner