The Road to Better: Ford 2023 Integrated Sustainability & Financial Report

On April 3rd, 2023 Ford released their 2023 Integrated Sustainability and Financial Report. This report shows the company’s progress in regards to their work towards a more sustainable, inclusive, and equitable transportation future. Fore more than two decades Ford has been a leader in sustainability reporting. The report provides Ford with updated data information in order to keep them on track to achieving carbon neutrality no later than 2050.

“We believe the long-term success of any business is inextricably linked with creating value for customers, employees and communities, while also caring for the planet. We are undertaking a massive transformation to lead the electric and connected era of transportation and are committed to being transparent about our progress and opportunities for improvement. We are excited and optimistic about the future and look forward to making carbon-neutral transportation a reality.” (Bill Ford, Executive Chair)

Leading the Electric Vehicle Revolution
From 2022 through 2026, Ford is dedicating more than $50 billion to develop and manufacture electric vehicles and batteries. Ford’s targeted annual production run rate is 600,000 EVs by the end of 2023 and 2 million by the end of 2026. Half of the global vehicle sales volume for Ford is expected to be electric. One main goal of Ford is to reduce the vehicle emissions (carbon dioxide emissions).

Accelerating Progress to Carbon Neutrality
On top of reducing tailpipe emissions, Ford is committed to reducing emissions from the facilities, processes, and electricity that help to support global supply chain and the company’s overall operations. Since 1017, Ford has reduced Scopes 1 and 2 emissions by 35.4%. A 40% reduction in absolute manufacturing greenhouse gas emissions from 2017 thanks to Ford’s investment of more than $26 million in facility upgrade. The facility upgrade was meant to improve energy efficiency and conservation. Ford has also seen progress with their transition to carbon-free electricity usage. They incorporated 60.6% carbon-free electricity into their operations globally. 42.6% globally was renewable electricity! Ford reduced their overall Scope 3 emissions by 23% between 2019 and 2022.

Building a Responsible EV Supply Chain
The company’s global supply chain strives to protect the both the environment and human rights. Ford is taking steps to secure raw materials directly from mining companies that are aligned with their corporate policy, while building a new EV and battery supply chain. EV and battery supply chain mapping and auditing was first initiated by Ford in 2021 and to this date the project has conducted 30 supplier audits. Ford has strengthened its corporate practices and continues to work closely with its suppliers and third-party assurers. Just last year Ford trained 844 purchasing employees, 2,647 other Ford employees, and 979 suppliers in supply chain sustainability topics.

Helping Communities Thrive
Ford Motor Company Fund partners with nonprofits and community leaders to help communities in need in more than 40 countries. Last year Ford and Ford Fund made more than $64 million in charitable contributions. Ford and Ford Fund are supporting a pilot program in the Democratic Republic of Congo. The goal is to promote responsible mineral sourcing and empower women who work in copper and cobalt supply chains. 

On The Road to Better
“The Road to Better is Ford’s commitment to building a more sustainable, inclusive and equitable transportation future, where every person is free to move and pursue their dreams.”