Schaeffler and Shougang Shares Sign MoU on Low-Carbon Sustainable Development

Recently, during the second "ESG Shougang Day" event hosted by Shougang Group and the launch ceremony of the Beijing Corporate ESG Initiative, Schaeffler signed a Memorandum of Understanding (MoU) on low-carbon and sustainable development cooperation with Shougang Co., Ltd. The two parties will collaborate in areas including low-carbon steel, carbon footprint accounting, clean energy application, development of low-carbon processes, and recycling of scrap steel, and will conduct carbon footprint assessments for Schaeffler’s steel usage at an appropriate time. According to the MoU, both sides will adhere to the principles of "resource sharing, mutual benefit, strategic alliance, and co-creation of development" to jointly advance the construction of a green and low-carbon steel supply chain. Schaeffler aims to achieve climate neutrality in its production operations by 2030 and across its entire supply chain by 2040. Shougang Co., Ltd. targets a 30% reduction in total CO₂ emissions from peak levels by 2035 and plans to achieve carbon neutrality between 2050 and 2060.