Today, smart officially released its first Sustainable Development Report after a comprehensive renovation, showcasing its performance and achievements in the area of sustainable development in 2021, and focusing on presenting smart’s sustainable development strategy and action plan.
Mr. Tong Xiangbei, CEO of smart brand global company, said:
Sustainable development is at the core of smart’s corporate values and business strategy. We have systematically established smart’s sustainable development strategy and roadmap to effectively enhance the brand’s influence, and through practicing sustainable development initiatives, to contribute to the wider environment and social development. It is our responsibility to decarbonize, and smart is committed to providing the market with carbon-neutral pure electric vehicle models before 2045.
While accelerating the layout of global operations, smart has balanced the impact of the company on the environment, society, and corporate governance (ESG), and started to develop and implement a new Sustainable Development Strategy in 2021. The strategy covers five pillars to ensure the integration of sustainable development concepts into the entire business development process.
Establishing a sound and honest compliance management system
In 2021, smart followed the ISO 37301 “Compliance Management System” standard, established and improved the compliance management system, and effectively implemented the “Anti-monopoly Compliance Policy” to promote fair competition. In addition, in terms of technology compliance and intellectual property management, smart obtained 116 patents in 2021.
Enhancing driving safety and privacy protection level
With the development of digitalization and intelligentization in the automotive industry, smart has built a “User Center, Digitally Driven” D2C direct sales agent business model, integrating online and offline channels to enhance user brand experience.In the process of vigorously promoting digital transformation, smart has integrated information security management into the research and development and operation process. smart follows GDPR, ISO/IEC 27001 “Information Security Management System”, ISO/IEC 27701 “Privacy Information Management System”, as well as Chinese laws and regulations related to information and data, and has established and implemented an information security management system.
Exploring Low-carbon Travel Solutions
In 2021, smart developed and established the “Full Lifecycle Assessment Method” to more effectively understand the carbon emissions of products from research and development, production to recycling and disposal. In addition, smart currently sources 95\% of its suppliers from local enterprises in various markets, reducing related carbon emissions through logistics planning and cross-border collaboration, and maximizing the environmental and social benefits of supply chain localization.
Advocating for Circular Economy and Responsible Procurement
smart is committed to circular economy and responsible procurement. In 2021, smart applied recyclable and sustainable materials in various automotive parts. While ensuring quality and performance, each new smart Fortwo #1 includes 130 kg of recycled steel and 40 kg of recycled aluminum.
In addition, smart has made significant progress in the traceability and subsequent recyclability of power batteries, and has established a relatively complete power battery recycling and utilization traceability management system to further optimize the environmental impact of the battery lifecycle.
Empowering Individuals for the Benefit of Society
smart has brought together members from over 30 countries and regions, forming a team with rich cultural backgrounds, educational experience, and broad professional perspectives. 100% of smart’s existing suppliers have committed to complying with the smart “Supplier Code of Conduct” in order to practice sustainable development together with smart.
smart has officially launched the “smart” Sustainable Development Action Plan, which aligns with the five pillars of smart’s sustainable development strategy. Through a series of short, medium, and long-term innovative initiatives, smart will collaborate to promote “integrity and transparency, innovative intelligence, net-zero mission, responsible procurement, and co-creation of the future” in five areas. Additionally, smart utilizes silicon carbide technology (SiC) in its electric drive system, effectively reducing energy consumption by 0.6 kilowatt-hours per 100 kilometers driven and reducing the carbon footprint during the driving process.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.