The BMW Group is embarking on a new chapter in its reporting: For the first time, it will be combining its Annual Report and its Sustainable Value Report for the reporting year 2020 in a single Integrated BMW Group Report.
After the Board of Management redefined the company’s central sustainability goals in 2020, integrated reporting marks the next logical step – thanks to integrated management of the company. Henceforth, the Integrated Report will be published to coincide with the BMW Group Annual Conference, outlining the company’s economic performance, as well as its contribution to the environment and to society.
Dr Nicolas Peter, member of the Board of Management of BMW AG responsible for Finance: “The BMW Group Report 2020 shows that our business model and sustainability cannot be separated. We manage the BMW Group according to both financial and non-financial parameters and report these in a transparent manner every year. As a premium manufacturer, we seek to set a good example for the industry and take responsibility. Key sustainable development indicators are given equal weighting in our reporting with financial figures.”
The BMW Group has already met several key milestones on the road to its sustainability goals so far: For instance, it reduced the CO2 emissions of its European new vehicle fleet by 53 percent between 1995 and 2020. Since last year, all BMW Group plants worldwide obtain 100 percent of their electricity from renewable sources. The company also met a key diversity target in 2020: The percentage of women in BMW Group’s management currently stands at 17.8 percent and is therefore above its target range of 15-17 percent.
In July 2020, the BMW Group set itself ambitious new CO2 reduction targets up to 2030 – extending for the first time throughout the entire lifecycle: from the supply chain through production to the end of the use phase.
- The aim is to significantly reduce CO2 emissions per vehicle by at least one-third across the entire range. For the fleet of over 2.5 million vehicles produced by the BMW Group in 2019, this corresponds to a reduction of more than 40 million tonnes of CO2 throughout their lifecycle by 2030.
- Having already lowered CO2 emissions per vehicle produced by more than 78 percent since 2006, the BMW Group now aims to reduce its emissions (Scope 1 + 2) by a further 80 percent from 2019 levels by 2030.
- The goal is to reduce CO2 emissions during the vehicle use phase compared to 2019 by more than 40 percent per kilometer driven by 2030. The main lever for this will be a far-reaching product strategy with a systematic expansion of e-mobility.
- The BMW Group is the first automotive manufacturer to establish concrete CO2 targets for its supply chain. The aim here is to lower CO2 emissions per vehicle by at least 20 percent from 2019 levels. One of the ways the BMW Group is doing this is by making carbon footprint a decision criterion in its contract award processes.
The BMW Group’s CO2 targets have since been officially validated by the Science-Based Targets Initiative (SBTI). This confirms that the BMW Group’s sustainability goals, according to the latest scientific findings, are helping achieve the goals of the Paris Climate Agreement. The BMW Group has the long-term aim of establishing a climate-neutral business model spanning the entire value chain by 2050.
In the coming years, the company intends to use the Integrated BMW Group Report to document its progress towards achieving its goals in a transparent manner, in accordance with the rules of the International Integrated Reporting Council (IIRC).
The BMW Group Report 2020 comprises the combined Management Report for BMW AG and the BMW Group, as well as the non-financial report based on the requirements of the German CSR Directive Implementation Act (CSR-RUG) for non-financial reporting. The BMW Group Report also documents how goals from the company’s sustainability strategy were implemented between 2012 and 2020.
The BMW Group’s integrated reporting builds on a solid foundation: The company has reported on its measures to reduce environmental impacts since 2001. The BMW Group has applied the standards of the Global Reporting Initiative (GRI) to reporting of its progress towards sustainability since 2005 and has chosen the highest GRI option (“Comprehensive”) since 2008. The company has submitted its Sustainable Value Reports to external auditing (“limited assurance”) since the financial year 2013. The sustainability report and Annual Report have been published concurrently since the Sustainable Value Report of 2014
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