Progress-Werk Oberkirch AG: Virtual Annual General Meeting of PWO approves all items on the agenda with large majority
Another key point of the report of the Executive Board was the ongoing rapid implementation of PWO?s sustainability strategy. Sustainability is the foundation for the ongoing development of all our business processes. We have prepared a challenging roadmap for this. As a company that operates within the mobility industry entirely independently of internal combustion engines, we are excellently positioned to align all our resources towards shaping our future.
In the middle of April 2022, we had announced that he had joined the Science Based Targets initiative (SBTi) in order to reduce our carbon emissions in line with climate science findings. We have since resolved our ambitious Group-wide carbon reduction targets. We have sent these to the SBTi together with the measures for achieving them. By 2030, based on the benchmark year of 2019, we are aiming to reduce our own greenhouse gas emissions (Scope 1 and Scope 2 according to the Greenhouse Gas Protocol) by 46% and Scope 3 emissions, i.e. those referring to the upstream and downstream supply chain, by 28%. We are thus on the right path towards making our contribution to achieving the goals of the Paris Agreement.
We are counting on sustainability in all three dimensions ? environmental, social, governance. We want to be a force for good for society, while at the same time increasing the value of the PWO Group.
Besides detailed question on individual accounting items, the questions submitted by shareholders prior to the Annual General Meeting related in particular to current developments in the supply chain and at the production site Oberkirch, the customer and order structure, the growth and sustainability strategy as well as the remuneration system.
The full Annual General Meeting was livestreamed on the Internet for shareholders and guests. The agenda included the presentation of the financial statements for fiscal 2021 and the resolutions on the appropriation of profits, official approval of executive activities and the election of the auditor for the annual and consolidated financial statements. There were also resolutions on the approval of the remuneration report and the updated remuneration system for the members of the Executive Board.
All proposed resolutions were accepted by the Annual General Meeting. Details of the results of voting will be published on PWO?s website at https://www.progress-werk.de/en/investors-press/annual-general-meeting/.
PWO corporate profile With our innovative, climate-friendly lightweight solutions, we are the preferred partner of the global mobility industry. As an engineering house, we are constantly driving forward the development and production of sophisticated metal components and complex subsystems.
In line with our slogan ? ?People, Planet, Progress? ? we put our technology leadership on the frontiers of what is technologically possible in shaping and connecting metals at the service of our customers and business partners. Responsibility is at the heart of what we do. We see our business as a ?force for good?, as our contribution to a positive development in the future for the benefit of our customers, employees and shareholders as well as for our environment. To this end, we are focusing on digitalizing all of our processes using the tools of the 4th industrial revolution.
We focus on the 3 future areas of mobility: electrification, safety and comfort. We are already independent of the combustion engine today. Around 3,000 employees at 8 locations on 3 continents ensure maximum delivery reliability and quality.
10.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.dgap.deLanguage: English Company: Progress-Werk Oberkirch AG Industriestra?e 8 77704 Oberkirch
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