- The GEI provides insight into an opaque area of ESG data
reporting
- BorgWarner has received the recognition four consecutive
years
- Index measures gender equality across equal pay & gender
pay parity, leadership & talent pipeline, inclusive culture and
more
AUBURN
HILLS, Mich., Jan. 31,
2023 /PRNewswire/ -- BorgWarner today announced that
it joins 484 other companies as a member of the 2023 Bloomberg
Gender-Equality Index (GEI), a modified market
capitalization-weighted index developed to gauge the performance of
public companies dedicated to reporting gender-related data. This
reference index measures gender equality across five pillars:
leadership & talent pipeline, equal pay & gender pay
parity, inclusive culture, anti-sexual harassment policies, and
external brand.
The 2023 GEI reaches globally to represent 45 countries and
regions, including firms headquartered in Luxembourg, Ecuador, and Kuwait for the first time. Member companies
represent a variety of sectors, including financials, technology,
and utilities, which continue to have the highest company
representation in the index from 2022. This year marks the fourth
consecutive time BorgWarner has been included on the highly
respected list.
"At BorgWarner, we are guided by our beliefs, in which we honor
integrity, strive for excellence, commit to responsibility, build
on the power of collaboration and, perhaps most importantly,
encourage and cultivate a diverse and inclusive environment," said
Tania Wingfield, Executive Vice
President and Chief Human Resources Officer, BorgWarner Inc. "Being
included in the Bloomberg Gender-Equality Index for the fourth year
in a row is truly an honor and a testament to the commitment we
have made as a company to remain steadfast in our beliefs and the
work we have accomplished to create the safe, inclusive and diverse
workplace that we continue to build upon."
"Congratulations to the companies that are included in the 2023
GEI," said Peter T. Grauer, Chairman
of Bloomberg and Founding Chairman of the U.S. 30% Club. "We
continue to see an increase in both interest and membership
globally, reflecting a shared goal of transparency in
gender-related metrics."
BorgWarner submitted a social survey created by Bloomberg, in
collaboration with subject matter experts globally. Those included
on this year's index scored at or above a global threshold
established by Bloomberg to reflect disclosure and the achievement
or adoption of best-in-class statistics and policies.
Both the survey and the GEI are voluntary and have no associated
costs. Bloomberg collected this data for reference purposes only.
The index is not ranked. While all public companies are encouraged
to disclose supplemental gender data for their company's investment
profile on the Bloomberg Terminal, those that have a market
capitalization of USD1 billion are
eligible for inclusion in the Index.
For more information on the GEI and how to submit information
for next year's index visit: https://www.bloomberg.com/gei.
Bloomberg clients can access the GEI at {BGEI Index DES
<GO>}.
For more information on Bloomberg's sustainable finance
solutions, including the GEI, please visit:
https://www.bloomberg.com/professional/sustainable-finance/. To see
the complete list of 2023 Bloomberg Gender-Equality Index members,
click here.
About BorgWarner
For more than 130 years,
BorgWarner has been a transformative global product leader bringing
successful mobility innovation to market. Today, we're accelerating
the world's transition to eMobility — to help build a cleaner,
healthier, safer future for all.
About Bloomberg:
Bloomberg, the global business and
financial information and news leader, gives influential decision
makers a critical edge by connecting them to a dynamic network of
information, people and ideas. The company's strength – delivering
data, news and analytics through innovative technology, quickly and
accurately – is the core of Bloomberg Professional Services. For
more information, visit www.bloomberg.com or request a
demo.
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under the circumstances. Forward-looking statements are not
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differ materially from those expressed, projected or implied in or
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You should not place undue reliance on these forward-looking
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Forward-looking statements are subject to risks and uncertainties,
many of which are difficult to predict and generally beyond our
control, that could cause actual results to differ materially from
those expressed, projected or implied in or by the forward-looking
statements. These risks and uncertainties, among others, include:
evolving legal, regulatory, and tax regimes; the supply disruptions
impacting us or our customers, such as the current shortage of
semiconductor chips that has impacted original equipment
manufacturer ("OEM") customers and their suppliers, including us;
commodities availability and pricing, and an inability to achieve
expected levels of success in additional commercial negotiations
with customers concerning recovery of these costs; competitive
challenges from existing and new competitors including OEM
customers; the challenges associated with rapidly changing
technologies, particularly as relates to electric vehicles, and our
ability to innovate in response; uncertainties regarding the extent
and duration of impacts of matters associated with the COVID-19
pandemic, including additional production disruptions; the
difficulty in forecasting demand for electric vehicles and our
electric vehicles revenue growth; potential disruptions in the
global economy caused by Russia's
invasion of Ukraine; the ability
to identify targets and consummate acquisitions on acceptable
terms; failure to realize the expected benefits of acquisitions on
a timely basis including our recent acquisitions of AKASOL AG,
Santroll's light vehicle eMotor business, and Rhombus Energy
Solutions, the anticipated acquisition of Hubei Surpass Sun
Electric's charging business, and our 2020 acquisition of Delphi
Technologies PLC; the failure to promptly and effectively integrate
acquired businesses; the potential for unknown or inestimable
liabilities relating to the acquired businesses; our dependence on
automotive and truck production, both of which are highly cyclical
and subject to disruptions; our reliance on major OEM customers;
fluctuations in interest rates and foreign currency exchange rates;
our dependence on information systems; the uncertainty of the
global economic environment and potential for recessionary
conditions in regional economies; the outcome of existing or any
future legal proceedings, including litigation with respect to
various claims; future changes in laws and regulations, including,
by way of example, taxes and tariffs, in the countries in which we
operate; impacts from potential future acquisition or disposition
transactions; and the other risks noted in reports that we file
with the Securities and Exchange Commission, including Item 1A,
"Risk Factors" in our most recently-filed Form 10-K and/or
Quarterly Report on Form 10-Q.
We do not undertake any obligation to update or announce
publicly any updates to or revisions to any of the forward-looking
statements in this press release to reflect any change in our
expectations or any change in events, conditions, circumstances, or
assumptions underlying the statements.
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SOURCE BorgWarner