Powering Futures
At Linamar, we say we are a diversified manufacturer whose products powers vehicle, work, motion and lives. “Power to Perform” is our company tagline. And Powering Futures is how we think about a Sustainable Future for our Environment, our People, our Suppliers and our Communities. Our unique Linamar Stepping Stool culture of Performance, Respect, Balance and Care are among some of our inherent characteristics that power our views of stewardship, equality, philanthropy and governance so that we benefit of all our stakeholders. In many ways, Linamar has long held ESG related issues as a top priority, and in some ways we are early into our journey to better communicate and disclose those issues in a more structured framework. Below you will learn more about how we govern both environmental social related risks and opportunities within the Company’s management structure, how we produce products designed to produce a better tomorrow, how we protects the lives and health of our employees and how we actively invest in the communities in which we live and work.
CEO Message
Dear Stakeholders, sustainability is at the core of future growth for Linamar, because we know that our success as a company requires us to look beyond just short-term gains. This is why our Stepping Stool philosophy for success seeks to achieve an equal balance between the pillars of our business by being:
STEPPING STOOL
CORE VALUES
LEADERSHIP BEHAVIOURS
GOAL
- The Supplier of Choice for our Customers
- The Employer of Choice for our Employees, and
- The Investment of Choice for our Shareholders.
At the same time the investing community is evolving and asking us to serve their thirst for transparency and information about our business in new ways. Several of the world’s largest investing firms are asking us to speak loudly about how we serve our community and what we are doing to minimize our environmental footprint. Inherent in our strong organizational culture has always been a commitment to our Environment as well as Charitable & Community Outreach initiatives, albeit we acknowledge perhaps we could have done more to communicate those efforts. It is with that new reality in mind that we have redesigned this portion of our website with a new focus on concrete examples of our Environmental, Social and Governance (ESG) program.
In the details we outline below, you will see how our drive for Sustainability is reflected in a multitude of ways throughout our company, but most notably in our design of responsible products with a focus on safety and eco-friendliness, how we interact with suppliers, how we protect our employees and how we engage our local communities. We take an active approach to managing ESG-related risks and tackling environmental and social challenges. We harness the dedication of our people and mobilize capital to build thriving, sustainable production and to do our part in the transition to a lower carbon future while acknowledging the importance of effective governance of ESG matters at both the Executive and Board of Directors level.
While climate and social related business risks are regular front page news around the world, Linamar’s position as an innovative and forward thinking company allows us to see opportunities rather than challenges. Our nimble manufacturing base and creative culture position us well to be a leader in terms of growth with a positive impact on our stakeholders and the environment. In this respect, Linamar aims to “Lead with Ideas” when designing new products for our customers that reduce carbon footprint and minimize environmental effects. With respect to our employees, we aim to foster an inclusive and service oriented culture that “Bridge[s] the Gaps” and draws on the talent pools that are not traditionally attracted to manufacturing.
This is especially true of Linamar’s efforts in the area of Gender Diversity, particularly in attracting young females into STEM (Science, Technology, Engineering, Math) based career fields. This is a cause we have taken a leadership position in among Canadian industrial firms.
We realize it is not enough to just act on these initiatives but also how we measure our success in these engagements. That is why we recently made the decision to adopt the Sustainability Accounting Standards Board’s (“SASB”) materiality model for disclosing financial metrics and measurements relating to our environmental impact. Of the many frameworks in development for environmental and carbon emission disclosures such as TCFD, GRI, as well as others, we see SASB as creating a common benchmark for industries in which to report by. As we roll out this adoption, we aim to disclose data sets that will be of the greatest value to investors and demonstrate Linamar’s continuing improvements in terms of waste reduction, energy efficiency and health and safety improvements. Where the SASB standard does not address a key area of interested stakeholder disclosure, we will seek to also rely on supplementary framework guidelines. As noted above, in some ways this is new at Linamar and will require significant resources and systems to achieve all the required disclosures. Not all SASB elements will be available at first, but look for Linamar to continually increase our disclosures over time. As we all think towards a more Sustainable Future, Progress not Perfection should be the goal.
On behalf of the Senior Executive Group, I extend my thanks to our employees for sharing their stories, photography and insights for this report. The people of Linamar deliver on our purpose of shaping a sustainable future in the services we provide our customers, the projects we support through our corporate philanthropy and the way we operate our business day in and day out. I encourage you to delve deeply into our significant efforts of Powering Futures.
In the details we outline below, you will see how our drive for Sustainability is reflected in a multitude of ways throughout our company, but most notably in our design of responsible products with a focus on safety and eco-friendliness, how we interact with suppliers, how we protect our employees and how we engage our local communities. We take an active approach to managing ESG-related risks and tackling environmental and social challenges. We harness the dedication of our people and mobilize capital to build thriving, sustainable production and to do our part in the transition to a lower carbon future while acknowledging the importance of effective governance of ESG matters at both the Executive and Board of Directors level.
While climate and social related business risks are regular front page news around the world, Linamar’s position as an innovative and forward thinking company allows us to see opportunities rather than challenges. Our nimble manufacturing base and creative culture position us well to be a leader in terms of growth with a positive impact on our stakeholders and the environment. In this respect, Linamar aims to “Lead with Ideas” when designing new products for our customers that reduce carbon footprint and minimize environmental effects. With respect to our employees, we aim to foster an inclusive and service oriented culture that “Bridge[s] the Gaps” and draws on the talent pools that are not traditionally attracted to manufacturing.
This is especially true of Linamar’s efforts in the area of Gender Diversity, particularly in attracting young females into STEM (Science, Technology, Engineering, Math) based career fields. This is a cause we have taken a leadership position in among Canadian industrial firms.
We realize it is not enough to just act on these initiatives but also how we measure our success in these engagements. That is why we recently made the decision to adopt the Sustainability Accounting Standards Board’s (“SASB”) materiality model for disclosing financial metrics and measurements relating to our environmental impact. Of the many frameworks in development for environmental and carbon emission disclosures such as TCFD, GRI, as well as others, we see SASB as creating a common benchmark for industries in which to report by. As we roll out this adoption, we aim to disclose data sets that will be of the greatest value to investors and demonstrate Linamar’s continuing improvements in terms of waste reduction, energy efficiency and health and safety improvements. Where the SASB standard does not address a key area of interested stakeholder disclosure, we will seek to also rely on supplementary framework guidelines. As noted above, in some ways this is new at Linamar and will require significant resources and systems to achieve all the required disclosures. Not all SASB elements will be available at first, but look for Linamar to continually increase our disclosures over time. As we all think towards a more Sustainable Future, Progress not Perfection should be the goal.
On behalf of the Senior Executive Group, I extend my thanks to our employees for sharing their stories, photography and insights for this report. The people of Linamar deliver on our purpose of shaping a sustainable future in the services we provide our customers, the projects we support through our corporate philanthropy and the way we operate our business day in and day out. I encourage you to delve deeply into our significant efforts of Powering Futures.
Linda Hasenfratz,
CEO
CEO
