Forsee Power Publishes Its 4th Sustainability Report and Launches SBTi Process Towards Net Zero

PARIS--(BUSINESS WIRE)--Regulatory News:

Forsee Power (FR0014005SB3 – FORSE), the expert in smart battery systems for light and heavy electric vehicles, publishes its new sustainability report which looks back on its achievements for the year 2022 and its future prospects. The Group also announces the launch of the process to develop a Net Zero roadmap according to SBTi standards.

Discover Forsee Power's 4th full sustainability report in French on this link.

2022 achievements: strengthening of supply chain due diligence processes, consolidation of the product range, emergence of retrofitting and internal initiatives

During 2022, Forsee Power strengthened its supply chain due diligence processes. The company developed an ESG questionnaire for its suppliers – based on the most demanding practices – and launched its first ESG audit by a third party with an Asian cell supplier.

In addition, Forsee Power has consolidated its product lines by offering additional eco-designed zero-emission solutions with increased energy densities and lifetimes. Retrofitting of combustion vehicles into electric vehicles has also emerged as a real accelerator for the decarbonization of transport and the Group has positioned with several key players to supply suitable battery systems.

Finally, the Forsee Power teams have endeavored in improving environmental management systems with significant progress in reducing waste at production sites, in collaboration with suppliers and customers to maximize reusable packaging.

Distinctions 2022: site certifications and Ecovadis Gold Medal

The French sites of Ivry-sur-Seine and Chasseneuil-du-Poitou have obtained the ISO 14001 certification, in addition to the sites in Poland and China that are already certified. All the sites recorded very satisfactory results in terms of safety; regular and collaborative training and information sessions contributed to increase skills and maturity.

Finally, the Group's sustainable development performance was recognized with a Gold medal from the EcoVadis rating agency and an Exemplary level awarded by EthiFinance.

2023 priority: development of a Net Zero contribution roadmap to be submitted to the SBTi

In 2023, as part of its continuous improvement process for more sustainable practices, Forsee Power is working on a Net Zero roadmap.

Early July, the Group signed and sent its letter of commitment to the Science Based Target initiative (SBTi) and is currently developing its decarbonization plan according to SBTi standards to have the organization validate the alignment of its objectives with the Paris Agreement.

“2022 is a year of transition for extra-financial reporting, with the introduction of alignment with the European green taxonomy, the results of which are published in this report. The publication of the CSRD by the European Commission at the end of 2022 will also allow us to prepare our reporting processes to comply with the new regulations, with the monitoring of new indicators from 2023.” says Sophie Tricaud, Vice-President Corporate Affairs of Forsee Power. “In 2023, we will determine the guidelines of our decarbonization roadmap and define our new Impact sustainability roadmap. We will also focus on employee satisfaction, the representation of women in management positions, the strengthening of our due vigilance while supporting the United States in the start of operations scheduled for the end of 2023.”

About Forsee Power

Forsee Power is a French industrial group specializing in smart battery systems for sustainable electric transport (light vehicles, off-highway vehicles, buses, trains and ships). A major player in Europe, Asia and North America, the Group designs, assembles, and supplies energy management systems based on cells that are among the most robust in the market and provides installation, commissioning, and maintenance on site and remotely. More than 2,000 buses and 100,000 LEV have been equipped with Forsee Power’s batteries. The Group also offers financing solutions (battery leasing) and second-life solutions for transport batteries. Forsee Power and its 650 employees are committed to sustainable development and the Group has obtained the Gold medal from leading sustainability rating agency EcoVadis. For more information: www.forseepower.com | @ForseePower