Why there is much more to sustainability than building EVs

In this episode of the Advanced Manufacturing and Mobility Business Minute podcast, Andrea Weinberger explains why automotive companies need a broader ESG agenda to achieve a more sustainable future.

Although the adoption of electric vehicles (EVs) is gaining popularity and considered as one of the crucial steps toward decarbonization, professionals believe that for transforming to a more sustainable future, automotive companies need to address wider topics. These include minimizing resource extraction and depletion, reducing waste and water usage, and promoting circular business models.

To make a meaningful transformation, automotive companies need to integrate sustainability into their operating model, rather than treating it as a separate project. Making environmental, social and governance (ESG) initiatives a part of day-to-day operations will help simplify sustainability and make significant progress.

In this episode of the Advanced Manufacturing and Mobility Business Minute podcast, Andrea Weinberger, Partner, Strategy and Transactions, Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, describes why the automotive industry should leverage a wider sustainability strategy. 

Key takeaways:

• It is important for automotive companies to understand that more sustainability initiatives do not mean less profitability.
• Although electrification of vehicles and decarbonization are important, they are not sufficient to transform into a sustainable future.
• Creating a positive social impact in the communities where a company is operating would be a valuable step in the transformation.
• Authenticity is one of the crucial factors that distinguishes a credible sustainability strategy.