Ford releases sustainability and financial report, inaugural human rights report

Ford-releases-sustainability-and-financial-report-inaugural-human-rights-report

In a recent press release, Ford shared its 2022 sustainability and financial report, which according to the Blue Oval brand, shows the company’s focus on its transition to lead the electric revolution.

KEY TAKEAWAYS

  • How many electric vehicles does Ford plan to produce by 2026?

    Ford said that it plans to make at least two million EVs by 2026.
  • How much does Ford plan to invest to develop EVs and EV batteries?

    According to Ford, it plans to invest around US$50 billion.
  • Ford said that the report includes plans to scale production to more than two million electric vehicles per year by 2026 and to make half of its annual sales volume electric by the end of the decade. The Dearborn-based automaker has committed to carbon neutrality by 2050. This commitment is backed by science-based interim targets that it hopes to meet as early as 2035.

    In addition, Ford plans to invest around US$50 billion globally from 2022 through 2026 to develop electric vehicles and the batteries that power them.

    “The truest mark of success is whether we leave the world a better place for the next generation. Each year, our integrated report reminds me of our commitment to our values, and our drive to move the needle on the issues that matter. This has been true since we launched the report 23 years ago, a first for the industry. And it could not be truer today,” said Ford Executive Chair Bill Ford.

    The 2022 sustainability and financial report feature voluntary disclosures on climate-related information and details Ford’s progress to reduce emissions per vehicle by 50 percent from a 2019 base year and emissions from its operations by 76 percent from a 2017 base. In 2021, Ford achieved a 35-percent reduction in its absolute manufacturing greenhouse gas footprint from 2017 levels.

     

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    Ford understands that the shift to electric vehicles is critical to its sustainability goals. However, Ford also knows that such a transition comes with challenges, including the sourcing of raw materials, end-of-life battery recycling, as well as human rights issues.

    To provide an answer to these issues, Ford is also releasing a human rights report as well as a combined task force on climate-related financial disclosures and a climate risk scenario report.

    “I am also pleased to say that this year, Ford will publish a human rights report, another first for the US auto industry. It will examine how our materials are sourced, where our products are manufactured, and how our labor standards measure up. I am proud of the progress we have made over the last two decades and look forward to our continued accomplishments,” the executive chairman added.

    The human rights report will be a first for Ford and for the US automotive industry.

    “This year’s report is significant because it demonstrates Ford’s longstanding commitment to transparency and holding ourselves accountable. It gives our stakeholders a clear picture of how we are going to put people first and respect human rights as we transition to electric vehicles, building on our legacy of climate action and environmental protection. Our company strategy and sustainability goals are indelibly linked — what’s good for the planet is good for our customers and our business,” said Ford Global Director of Sustainability, Homologation, and Compliance Cynthia Williams.

    Photos from Ford

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