OBSERVANCE OF ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) ISSUES WITH RESPECT TO DOUBLE MATERIALITY IN AUTOMOTIVE SECTOR
Keywords:
Circular Mobility, Double Materiality, ESG, Economy, Materiality, Sustainability, Stewardship CodesAbstract
Sustainability is increasingly getting discussed as one of the main of the major contributor in the overall health of the business. It is expanding deep into the business models and long term corporate strategies of any organization. Investors demand of sustainability information, government regulations and consumer awareness are triggering this whole shift. This paper aims to highlight the various ESG related issues and challenges observed by the Automotive sector with reference to double materiality and also discusses the high-level process for determining materiality issues. The paper also surfaces strategic & operational risks along with opportunities with Toyota as a case reference.
References
Zolezzi, B. P. (2023, September 29). Double materiality: Broadening corporate sustainability reporting to encompass societal and environmental impacts. www.cisl.cam.ac.uk. https://www.cisl.cam.ac.uk/news/blog/double-materiality-corporatesustainability-reporting-encompass-societal-and-environmental-impacts.
Singh, J. (2021, May 20). The automobile industry can lead the clean mobility movement. This is how. World Economic Forum. https://www.weforum.org/agenda/2021/05/the-futureof-automobiles-clean-energy-decarbonization/.
Ritchie, H. (2020, October 6). Cars, planes, trains: Where Do CO2 Emissions from Transport Come from? Our World in Data; Global Change Data Lab. https://ourworldindata.org/co2-emissions-from-transport
International Energy Agency. (2019, May). Global EV Outlook 2019 – Analysis - IEA. IEA. https://www.iea.org/reports/global-ev-outlook-2019
BMW, Mercedes, Audi, others race to make entire supply chain greener. (2019, September 1). Automotive News Europe. https://europe.autonews.com/automakers/bmwmercedes-audi-others-race-make-entire-supply-chain-greener
Winkler, M. (2020). The Automotive Industry in the Era of Sustainability. https://www.capgemini.com/wp-content/uploads/2020/03/Report-The-automotive-industryin-the-era-of-sustainability.pdf
Software-defined mobility. (2023). Www.bosch-Mobility.com. https://www.boschmobility-solutions.com/en/mobility-topics/connected-mobility/
GLOBAL STATUS REPORT ON ROAD SAFETY 2018. (2018). https://apps.who.int/iris/bitstream/handle/10665/276462/9789241565684-eng.pdf
Bagloee, S. A., Tavana, M., Asadi, M., & Oliver, T. (2016). Autonomous vehicles: challenges, opportunities, and future implications for transportation policies. Journal of Modern Transportation, 24(4), 284–303. https://doi.org/10.1007/s40534-016-0117-3
DQS. (n.d.). DQS Inc. | ESG in the Automotive Industry. Www.dqsglobal.com. https://www.dqsglobal.com/en-my/learn/blog/esg-in-the-automotive-industry-sector
Toyota Environmental Report. (2020). In toyota. https://global.toyota/pages/global_toyota/sustainability/report/er/er20_en.pdf
Sustainability Data Book - The latest version Editorial Policy. (2020). https://global.toyota/pages/global_toyota/sustainability/report/sdb/sdb2007_en.pdf
CORPORATION, T. M. (2021, October 18). Toyota Charges into Electrified Future in the U.S. with 10-year, $3.4 billion Investment | Corporate | Global Newsroom. Toyota Motor Corporation Official Global Website. https://global.toyota/en/newsroom/corporate/36193702.html
CORPORATION, T. M. (2020, April 3). Toyota Green Energy Established to Conduct Renewable Energy Power Generation Business | Corporate | Global Newsroom. Toyota Motor Corporation Official Global Website. https://global.toyota/en/newsroom/corporate/32098091.html
2019 Toyota North American Environmental Report. (2019). Toyota.com. https://www.toyota.com/usa/environmentreport/water.html
Wang, J., Zhang, L., Huang, Y., & Zhao, J. (2020, October 6). Safety of Autonomous Vehicles. Journal of Advanced Transportation. https://www.hindawi.com/journals/jat/2020/8867757/
Troy, B., Alex, C., Russell, H., Nathan, P. (2019, December). The Future of Mobility is at Our Doorstep. https://www.mckinsey.com/~/media/McKinsey/Industries/Automotive%20and%20Assembl y/Our%20Insights/The%20future%20of%20mobility%20is%20at%20our%20doorstep/Thefuture-of-mobility-is-at-our-doorstep.ashx
Toyota demonstrates autonomous shuttle for “mobility as a service” applications – Robotics & Automation News. (2022, February 20). Robotics & Automation News. https://roboticsandautomationnews.com/2021/01/26/toyota-demonstrates-autonomousshuttle-for-mobility-as-a-service-applications/39920/
Downloads
Published
Issue
Section
License
Copyright (c) 2024 Himanshu Chaudhary, Pankaj Dhamane, Syed Sameer (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
